Who would like to get into the housing market through their negative gearing policy the PM quickly pulled Kelly Sawyer into line I can only assume that the minister was referring to new housing which of course is a very small percentage of the housing stock it’s up to prudent government action and certainly not thrash proposal of the Lab our Party to suggest that you’ll only.
Give negative gearing to new your home construction because that would just devastate the housing market that would create a free fall that would be devastating absolute rubbish it’s just a scare campaign and what we need to do is look at policies which really do make a difference on housing affordability but to claim that this would devastate as John Alexander says and that’s the Liberal Party talking points is just a completely fallacious argument John Dal saboteur’s change would probably push house prices.
Down but not as much as the government claims chances are we would see property you prices fall a little bit relevant where they would be otherwise maybe two percent so it’s not big change in the scheme of things and at the margins we would see slightly fewer investors Property Valuations Melbourne and slightly more homeowners now it is true that negative gearing speaker the current treasurer Scott Morrison says elaborateness attempt to change negative gearing is the politics of envy when what they don’t understand speakers ordinary Australians mum and dads are the ones who invest in negative gearing speaker timber burglars who engage in negative.
Gearing have in taxable income of or less speaker one reason for that is that there are millions more people in that lower tax bracket then there are on thrones above it but some recent figures from the Rattan Institute show that it’s the top.
know where we’re reinforcing the point that you you need to select the asset right there’s massive massive opportunity for greater wealth if you do your research and you get the right location first which does eighty percent of heavy lifting and then you execute on the right type of property in that location and obviously the cave it’s that we have in our models you know try and avoid high density or areas where there can be quick oversupply men you know hiding to the apartments we we avoid so how do you determine which property.
It is the question you determine which proper or which suburb that you choose of the , plus suburbs that they are in this country yep because if if the location does eighty percent of the heavy lifting and the facts verify that the consumer other the person who’s interested in investing has to avoid the noise that’s really distracting and by that time you know I often talk about a story where Had a client some let me know that they were interested in a property the historical growth of the suburb was twenty-three percent they could get rental guarantee and the depreciation.
Means it can get some really great tax that’s a textbook right there that’s that’s in a home textbook three hour presentation I’ll teach you about property this is a laconic oh she’s twenty bucks or they’ve got twenty bucks week to buy this property Mike can you let me can you go twenty bucks a week that’s all telling up look at how much tax I’m gonna save you the point is that the it’s seducing twenty-three percent growth correct and you’ve.
percent so yeah not a single average and we’re not buying average not but not a single average across any city across any household type whether it was houses or units none of them are doubled as an average so yeah again reinforcing our point and that would be incredible if it did because.
Around two friends and then the poor control five percent the reality is much worse than that the reality is the top in the top five control the vast majority of all assets and capital in this world seventy percent of everything is owned by the top twenty percent nineteen percent sorry twenty-nine percent of the other what’s remaining is controlled by the middle class which is predominant locked up in housing and residential housing and two some smaller extent stocks bonds and you at ease until deposits and the bottom twenty percent.
only control one percent of assets in the world so obviously if you only become wealthy you’ve got to think about the realities why these people tend to control the vast majority of wealth out there and where they focus their energy and their money and it’s exactly what this video is all about the only ones win the rich person the poor person is how they use their time and that’s the key it’s not just about realizing what the reality is it’s also about you realizing that you have choice where you’re going to end up you have a choice.
whether you can end up in the top or in the bottom twenty percent and that has to do with how you use your time who you listen to what books you read how how educated you are and what choices you’re going to make in life you know if you make a decision conscious decision and other this years ago to read two hours a night and educate yourself then after two years or three years of constant compounding of knowledge you’re going to become very intelligent in a chosen area when I was I made a conscious decision to stop watching TV completely not what’s any Vat all I read the fan review so I kept up to date with the economic times and what’s happening in economy but what Did was I made a conscious decision every night.
And we forget that sometimes if we talk about the thousand people who live in the village or the number of jobs that might be lost or other things like that that are quantities that renumbers that are values sometimes you can get a politician’s attention with that and it doesn’t have to be a number of that then you get to argue that so I’ll put that on the table for maybe future discussion as mentioned before Think monitoring is essential I think we’re asking people to pay for services.
I think that we should Sydney Property Valuations be sure we’re delivering and the last thing which came up earlier as well is that weened to understand some of the possible consequences of this and the delta project might be a good example of this because wetlands when people think of wetlands and carbon sequestration they often are very skeptical because wetlands produce a lot of gases like methane and citrous oxide that actually our greenhouse gases so the carbon balance of wetlands is not clear they’re sort of science questions.
There in the Sacramento delta in particular there’s also a legacy of mercury left over from the gold rush days and if we sort of replant wetlands and manage them for carbon are re-releasing more mercury that basically gets into the food supply we need to understand what that means and I think the point was made earlier we focus on one service we’re likely infecting others and we need to understand what we’re trading off so it’s hard but we need to think as mochas we can about the big picture in the different consequences of it so I guess would like to leave it with that and thank you all again for inviting means incredibly important for all of these versions of payment for services or whatever programs and so it wonder if you guys have thought about it for years about how different policies are different both.
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