No I do not, and I have never sead anything about Sydney or anywhere else.
I says Turnbull can not make legislation because the far right faction will not support any change. It,s hopeless when his own party can not make consensus.

An earlier post by that Jeol bloke said jets and limo,s in Canberra when the alp win govt. he has got the wrong party all together.

Negative gearing has to go, the alp says on new housing. That is a good start and see where it goes from there.
What is do nothing going to solve.

The Bendigo bank became a bank on bricks and mortar. But that was a different era all together.
This bull about interest payments is only going to up the interest rates.
We need property devaluation, fast.

So Doog, what effects do you think the removal of Ng will have on;
Values?
Rents?
The building supply chain?
The building industry?
The market it's self?

You can't just make a broad statement like you have about the need to remove NG without having some rationality as to the effects, either pos or neg.

As a long term investor myself, none of my properties are negatively geared, however, if not for negative gearing, i would not have bulit my portfolio.

In my opionon a far better option would be to wind back negative gearing and introduce an inheritance tax of sorts.

NG should be limmited to say three properties and a max of say 10% of the value of the asset. It should slso see that the NG property returns a proffit within say ten years.

Inheritance tax should be brought in in such a way that if the asset is owned by a trust, then tax applies to every cent, whether the asset is sold or not, and if family owned, and sold, that each sibling gets a max of half a million tax free then the rest is taxed.

This will not be taking a slege hammer to the market and lets face it, if a half a million tax free is not enough, then tough!

doog: "We need property devaluation, fast."

Tell that to property owners in Perth and Darwin.

It's a supply and demand issue obviously. Clearly NG has the effect of accelerating the market, both upwards and downwards, but not determining its direction.

Removing NG will force house investment into company structures, where tax rates are to be reduced and losses are carried forward, or dissuade private investment. NG gives Joe average a way to invest without such complication.

What might bring down rents in Sydney and Melbourne, hence yield on investment, hence house prices, is a house vacancy tax in states where there is an accommodation shortage like NSW and Victoria, because it would bring on supply/reduce demand. It would not make sense in NT and WA where rentals have already fallen sharply and there is a large oversupply of houses for sale.

It is a state by state issue, not federal, IMO.

Dear Butch,

You banging on about this again?

Mate, you continue to have a cockeyed view of the negative gearing world.

Why on earth do you think rents have to keep up with housing prices? If they did then these properties would be positively geared not negative. The only thing that makes most of there investment properties attractive is losses can be offset as a tax reduction plus the owners are living in a self fulfilling bubble where demand falsely driven by this tax dodge are driving capital gains.

We have come hard up against this bubble as Melbourne investors have driven up prices nearly 20% in the quarter in the town one of my kids is looking to buy a home. That is even with some owners, ones who have lived in the house for over 30 years, really wanting to sell to a young couple rather than an investor. Houses that are advertised within a price range are fetching 10 to 20% higher. They recently lost out to an investor despite offering $10,000 over the top asking price.

It really is time to take you head out of the sand mate. It is starting to become embarrassing.

Steely, My heart bleeds. Get past whining for people all over Oz to take a hit for your kids.

Sell up and buy two houses in Perth or Darwin or Dubbo, or wherever, if you believe in the right to stay together.

If you want lower prices in Sydney/Melbourne,convince the state gov'ts to introduce a vacancy tax, as it appears much housing capacity is being warehoused in those states. There is a real vacancy rate and a perceived one in those markets, apparently. Work with that, and stop blaming NG/CGT arrangements which are not driving property prices up other than in the markets you care about. Next thing you'll want BHP shares lowered so you can buy more.

Sook, whine, gimme, gimme, gimme, whine! Stop bitching, identify the problem correctly, and do your best to influence state politics, which is where the matter resides. The rest of Australia owes your family nothing.

I incorrectly said, "NG/CGT arrangements which are not driving property prices up other than in the markets you care about"
Not quite, taxation is not influencing prices, only the rate of their rise/fall, as I asserted a couple of posts ago.

Steely, for once rise to the challenge of explaining price falls in cities other than where where you and beloved expect the market killed for you.