The media is highlighting the struggles of a professional couple, with a $173k deposit, trying to enter the housing market in Perth.
Let’s look at 10 property lessons from past downturns.
#RealEstate #Economy #HeiseSays We will pay for the removal of stamp duty with increased GST and land tax. References Almost 500,000 Australians have cleared out their superannuation accounts https://www.news.com.au/finance/superannuation/almost-500000-australians-have-cleared-out-their-superannuation-accounts/news-story/9e3b84148b4dee11b01acdc09592a206
Experts are telling us not to wait for the removal of stamp duty and to buy now.
Casual workers might be on the “road” to receive holiday pay.
Apparently abolishing stamp duty favours the rich.
#Economy #Recession #Construction The NSW construction industry is collapsing with the largest number of bankruptcies since 2015. References Stamp duty crash wipes $2.5b from NSW Budget Construction companies in NSW collapsing at record rate as building slowdown biteshttps://www.abc.net.au/news/2019-09-26/nsw-construction-companies-liquidated-in-record-numbers/11512002?section=business Housing fall blows $5.2bn hole in Victorian budgethttps://www.theaustralian.com.au/nation/politics/housing-fall-blows-52bn-hole-in-victorian-budget/news-story/b3f8bedafa7ad255572e1c3f859a9751