#propertyprices

[sublimeobservationarcade]

John Howard & Peter Costello: Masters Of A Runaway Property Market

Former PM John Howard and his treasurer Peter Costello were warned about the dangers of rapidly rising Australian property prices back in 2004. These two were the architects of the capital gains tax concession. The Productivity Commission flagged the interaction between negative gearing and the capital gains tax discount as driver of the huge increases in property prices. John Howard and Peter Costello: Masters of a runaway property market downunder. It is interesting to note that Howard was a real estate agent prior to entering federal parliament.

AS Photography at Pexels

Unaffordable Property Prices Thanks To Howard & Costello

Could the moral of the story be beware of former real estate agents bearing gifts in the form of tax relief? Howard and Costello did not heed the warnings from the Productivity Commission and shelved their advice on this. Twenty years later and we are in the midst of a housing crisis with unaffordable homes everywhere you look in Australia’s capital cities. Interestingly, they were pointing the finger at a shortage of housing stock as the culprit back then. In truth, this has remained a common theme throughout the history of the nation. The call to build more houses has been an enduring, if not successful, one. It is easier to cry out into the wilderness than change the settings already in place.

Aussie Property Prices & The Voter Split

Of course, those who have bought into this overinflated market at the top do not want their property prices to go down. Thus, you have a split electorate between the haves and the have nots. The rental residential property market has been a driver of record inflation for several years now. Therefore, we have a third of the adult electorate in stress over the housing crisis because of unaffordable rents and property prices making buying a house impossible. Another third, who have bought into the property market and are stressed because of steeply risen interest rates on their home loans. And a third who already own their homes outright and may be a mix of investors and simply content property owners. Of course, they may have kids and friends who are renting and/or have mortgages. This is the Australian electorate in 2025. Australia & Its Private Property Culture John Howard and Peter Costello: Masters of a runaway property market. For the last 20 years, both sides of politics in Australia have been listening to the property owners and mortgage holders living in the suburbs. Labor and LNP have been courting their vote primarily. Renters have always been second class citizens in the bigger scheme of things. Their voice, however, is growing louder and more numerous in the economic wasteland left to them by Howard and Costello. There are more folk unable to buy a home in 2025 than there were 20 years ago. Rents on residential property have never been higher in Australian history. This is what you get when one section of the community are looked after to the detriment of the rest of us. The result are spikes in crime and civil unrest, as the ‘have nots’ eventually get angry and desperate at their economic poverty.

No Voice For Some Take a look at the neglected Indigenous communities up in Alice Springs and other parts of Australia. Locals are wondering why they are copping it from this disaffected youth. Well, their parents are in gaol and these kids have no opportunity and no hope. White residents are saying poor us but don’t lift a finger to do anything to help – its not their problem, apparently. This is the Australia we live in, where everyone is looking out for themselves. This is the progeny of Howard and Costello. Community spirit does not extend to some and does not exist for many modern Australians full stop.

Photo by Belle Co on Pexels.com It's All About The Economy Stupid Economics has become a byword for 21C Australians in their understanding of their place in the world. It is all about the economics these days. Comprehending macroeconomic trends is factored into our little worlds. These things affect our incomes and expenses. Interest rates are at the very top of Australian’s macroeconomic concerns these days. You hear more about interest rates and the RBA than anything else on the news, economically speaking. We choose to go into great debt to service a huge home loan to buy a house. Many Aussies will spend large parts of their lives in debt to banks that are among the most profitable in the world. These are the settings left to us by Howard and Costello. John Howard and Peter Costello: Masters of a runaway property market in Australia. “They knew their tax policies were crushing housing affordability and yet with trademark arrogance, they did nothing. A whole generation of younger Australians have already paid a high price for their inaction, and it could take another 20 years to fix the problems Howard and Costello failed to address. Beyond housing, the 2004 cabinet papers are a litany of poor decisions and inaction, which have created decades-long problems for this country and our neighbours.” - (https://www.smh.com.au/national/nsw/we-are-still-paying-cost-of-howard-s-housing-failure-20250101-p5l1hb.html) Robert Sudha Hamilton is the author of Money Matters: Navigating Credit, Debt & Financial Freedom. ©HouseTherapy Read the full article

[realestateradar]

Real Estate 2025 Outlook: What to Expect for Property Prices

If you're planning to invest your stock market gains into real estate or purchase a home for personal use in 2025, it's essential to have realistic expectations about property price growth. While the housing market witnessed a significant 21% price increase in 2024, experts predict that property appreciation in 2025 will be more moderate, with single-digit growth anticipated.

In comparison to the sharp rise seen last year, the real estate market in 2025 is expected to stabilize, with average residential prices experiencing steady increases. The surge in demand, alongside rising input costs, will contribute to gradual price hikes. However, it's unlikely that the growth rates seen in 2024 will be repeated.

Anuj Puri, Chairman of Anarock, anticipates the housing market to stabilize in 2025, with more muted price growth. He notes that the upcoming Union Budget could play a pivotal role in shaping market dynamics. He also highlighted the potential impact of ongoing supply from listed developers, who are expected to bring significant new inventory into the market. As long as the Indian economy remains resilient, unaffected by major global factors such as geopolitical tensions, sales should continue to perform well, supporting gradual price increases.

While prices may not see the steep rise experienced in 2024, the increasing cost of land and construction materials will push developers to raise property prices. Additionally, there are expectations of potential rate cuts by the Reserve Bank of India, which could lower home loan interest rates and further fuel demand for homeownership over renting.

According to Anarock's data, housing prices across the top seven cities saw annual increases ranging from 13% to 30% in 2024, driven by higher input costs and strong demand. Delhi-NCR witnessed the most significant rise, with average residential prices surging by 30%, from ₹5,800 per sq. ft. in 2023 to ₹7,550 per sq. ft. in 2024. The overall average price across these cities jumped by 21%, from ₹7,080 per sq. ft. in Q4 2023 to over ₹8,590 per sq. ft. in Q4 2024.

In addition to prime urban centers, peripheral areas are also likely to see a higher potential for price growth. Newer micro-markets in cities like Bengaluru and Noida have shown remarkable price appreciation in recent years. For instance, Bengaluru’s Gunjur area saw a nearly 69% increase in prices over the last six years, rising from ₹5,030 per sq. ft. in 2019 to ₹8,500 per sq. ft. in 2024. Similarly, Noida Expressway saw a 66% rise, and Dwarka Expressway experienced a 93% jump in prices over the same period.

According to Square Yards insights, property prices in 2025 are expected to grow within a close range, supported by strong market fundamentals and continued demand for premium properties. Areas near commercial hubs in major cities are likely to experience sharper price increases.

Anshuman Magazine, Chairman and CEO of CBRE India, South-East Asia, Middle East & Africa, also predicts that the Indian real estate market will see moderate price appreciation in 2025. While the pace may slow compared to the boom in 2024, the market fundamentals remain strong, setting the stage for a stable but upward trajectory in property prices.

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[realtortomgilliam123]

According to a recent survey done by Mphasis, 66% of people under the age of forty-six check out how much their friends’ houses are worth by looking on home valuation websites. Hey, it’s public record and readily available, so what’s the big deal pepping on property prices, right? Well, the survey also revealed that 79% of those who do end up feeling stressed, concerned or upset. So why do people do it if it makes them feel bad? The main reasons those surveyed gave for peeping on their pals property values were: 59% said they use it as a benchmark for their own earnings and net worth. 42% just wanted to get a feel for how much their friends earn. So if you find yourself dashing to the computer the next time a friend buys a house, or to check out where someone lives the next time you meet someone new in town, know that you’re not alone! Comparing yourself to others is natural. People have probably always been this way. It’s a timeless tradition to measure ourselves by what we have compared to others. While we may not be able to easily see how much our friends or neighbors have in their bank accounts, the size, location, and condition of their house is a pretty good way to size up a person’s wealth.

[tummanoj9]

🏡 Rising #Home #Prices! Is the #Condo #Market Falling Behind? 📉 #Shorts by Manoj Atri, REALTOR® 🔍 Uncover the pulse of the Canadian real estate market! 📊 This video analyzes the performance of various property types, explores buyer-friendly condo markets, and examines economists' concerns about affordability and labor market impacts. 💡 Get the insights you need to navigate the Canadian housing market! 🌟 🌟 Are REITs EVIL? 🏠 Rent Hikes, Renovictions, and the Financialization of Housing! 📈 🤔 Are you feeling the squeeze of rising rents and wondering who's behind it? 😟 You're not alone! 🙌 Many Canadians are facing a housing crisis fueled by "financialized landlords" – corporations that treat housing as a commodity, prioritizing profit over people. 🙁 #RealEstateToronto 📌 #TorontoRealEstate 🌆 Full Related YouTube Video: https://youtu.be/xWepNq1h_sM 👉 Subscribe Now for more Tips and Insights: https://www.youtube.com/@ManojAtri9?sub_confirmation=1 ✨ Help me reach 1000 Subscribers! 🎉🙌📈 🌆 Hot News Daily: Toronto Real Estate Digest! 📈 Friday 6th Dec 2024 Newsletter: Review Entire Podcast 20 Hot off the press News Articles Here: https://bit.ly/3ZHELZ4 ▶ Visit the following website links for HOT New TORONTO REAL ESTATE for Sale Listings → https://bit.ly/3zE97S3 ▶ Manoj Atri, REALTOR® with Architectural Experience Re/Max Hallmark Realty Ltd., Brokerage 401 – 685 Sheppard Ave E, Toronto ON M2K 1B6 Office: [416] 494-7653 | Cell: [416] 275-2089 Fax: [416] 494-0016 | Email: Manoj@ManojAtri.com ▶ "Disclaimer: This Shorts Video's content summarizes multiple news articles. Full attribution is available in the original linked sources & in full related YouTube Video. The thumbnail, newsletter, podcast audio and video are AI-generated. Video title, description, and supporting content are created for context." *** Not intended to solicit any Buyer or Seller under Contract. *** #CanadianRealEstate #HousingMarket #PropertyPrices #CondoMarket #RealEstateAnalysis #CanadianEconomy #AffordabilityCrisis #HousingTrends #InvestmentProperty via YouTube https://www.youtube.com/watch?v=gCIt2p0-g88

[sublimeobservationarcade]

Negative Gearing Needs To Have Limits

Of course, negative gearing needs to have limits imposed upon it, as does the capital gains tax offset. It has only been political expediency, which has maintained these inequitable economic policies for so long in Australia. Yes, there will be howls of protest coming from those benefitting directly and indirectly from these policies. The real estate sector will be up in arms and crying that the sky will fall down upon us all if these changes are made. The aspirational voter (those who see property investment as their pathway to riches) will be dead set against any changes to either negative gearing or the capital gains tax offset. Photo by Monstera Production on Pexels.com

Unaffordable House Prices & Negative Gearing

“As I will explain in more detail later, three main things pushed up demand for housing after 2000: a sharp lift in immigration that increased the number of people needing a place to live; capital gains tax breaks and negative gearing, which represent a $96 billion per year subsidy for buying houses; and federal first home buyer grants, which represent a $1.5 billion direct addition to house prices each year.” - (https://www.quarterlyessay.com.au/essay/2023/11/the-great-divide/extract) Alan Kohler, in his recent essay on why property prices in Australia are now so unaffordable for many ordinary Australians, summed the situation up pretty well. He puts the changes to the capital gains tax by John Howard back in the 1990’s as the main economic cause for the shift in the value of the average Aussie home from 6 times annual income to around 12 times. Kohler cites the fact that his parents and he himself purchased their family homes at the lower rate and that his kids are now faced with around double that rate in the 21C.   Nothing will change in this regard unless we do something about the economic polices causing it, he concludes. Negative Gearing & Capital Gains Tax Subsidies Think about that figure of $96 billion going missing from the Australian tax revenue on a yearly basis. That money is going into the pockets of wealthy Australians at the expense of those that can least afford it. It is time that we honestly add up all these tax breaks and subsidies that we are providing to some of us and to big corporations. Australia has historically bent over backwards in return for international investment. This has morphed into economic policies which are exceedingly pro-investment. The fact that some sections of society and big business are taking undue advantage of these economic settings has produced a widening divide between the haves and have nots. This gulf is greater than it has ever been in our history as a nation. It is time to reassess these overly generous inducements for investment and to grow up as a country. Mature nations have a greater sense of their own worth. Our politicians have to stop being small men and women when it comes to negotiating resource extraction deals with multinationals. Self esteem does not come naturally for nations and individuals. The daughters and sons of a once convict dumping ground and isolated land at the bottom of the world map may need to work on their sense of self worth and that of their nation. Photo by David Peterson on Pexels.com Our Politicians Are Landlords Money makes many folk feel more secure and amassing lots of it can provide a modicum of greater self-worth, according to some. Perhaps, this is one of the reasons why some people are motivated to keep on making more and more money. There are Australians who own hundreds of residential properties and use negative gearing as a key factor in this extreme wealth creation. Most of our politicians own multiple dwellings and earn incomes from rent as landlords. It is said that Peter Dutton is worth some $300 million from property investment and a string of child care centres. The Leader of the Opposition is dead set against any changes to negative gearing or capital gains tax. He is the champion of the aspirational vote in this country. Private wealth vs the public good is the age old battle within most modern economies. Private Wealth vs Public Good The acquisition of private wealth when it comes at the expense of the public good or the common wealth produces unfair and inequitable societies. Australia has to ask itself which road it is going to go down in 2024 and beyond. The Coalition, who had 10 years in federal power, took the country further down the ‘user pays’ neoliberal economic model of governing. The Stage 3 tax cuts were part of a regressive flattening of the tax rates which reward the wealthy at the expense of the working poor. Wealth in Australia is going to the rich at a rapid rate via the concentration of market share in too few corporate hands. The ACCC and the governments behind it have failed to preserve competition and overseen multiple mergers at the expense of consumer power. Big business has had the tacit and overt support of government in its bid to form behemoths in duopolies and oligopolies. Corporations have too much money and legal fire power to be concerned with toothless tigers like ASIC and the ACCC. Australians are too tame and apathetic to do much about what their leaders get up to in boardrooms. I cannot imagine the French in Paris putting up with what we meekly go along with. Stage 3 Tax Cut Amendments Fairer The Albanese federal government amended the stage 3 tax cuts to halve the largesse being afforded the wealthier and share the spoils with poorer working Australians. This managed to wedge the normally virulent Dutton and his LNP party with too many Aussies happy to get a lick of the ice cream. Now, the Greens have arced up and are calling that negative gearing needs to have limits. Perhaps, this may result in something being done about the inequitable economic policies which have seen property prices become unaffordable for many younger Australians. There is a severe rental crisis happening here, also, with a shortage of rental stocks pushing up prices. There will be a stoush over this, with the industry claiming that negative gearing is essential for investors to build more rental houses and flats. Obviously, the state governments have to pull their fingers out and build much more social housing as a matter of some urgency. Australians have a choice, which comes down to the kind of nation they want to live in. Do they want to live in a fairer and more equitable country or is squirrelling away a s***load of private wealth more important? Will this be a dog eat dog society or can they see the value of looking out for their neighbours in a community? I suppose political leadership may be important in which way we go too. https://youtu.be/xiA3Lku-3v0?si=7C5gyI6HdLhHtxQm “The Greens have demanded limits on tax discounts for property investors in exchange for their support for the government's "help-to-buy" housing scheme, which will be debated in parliament this week. The federal government will likely need the support of the Greens to legislate a program that will allow some first-home buyers to pay just a 2 per cent deposit for a home. Under the scheme, the government will cover up to 40 per cent of a home's cost and become a co-owner of the home, with homebuyers able to purchase that stake back at a later date. But the Greens say with income limits and property price caps affecting which buyers and properties are eligible, that scheme will help only 0.2 per cent of eligible buyers each year — and would only further push up house prices.” - (https://www.abc.net.au/news/2024-02-12/greens-demand-negative-gearing-help-to-buy-negotiations/103453342) Robert Sudha Hamilton is the author of Money Matters: Navigating Credit, Debt, and Financial Freedom.  ©MidasWord Photo by Nextvoyage on Pexels.com Read the full article

[stampederealty]

Discover the hidden factors driving real estate prices through the roof! 🌆 In this video, we delve into the impact of geography on limited real estate space, how a population boom sparks fierce competition for housing, and the role high property taxes and living costs play in this financial puzzle. 📈 Whether you're a homeowner, investor, or just curious about the real estate market, this comprehensive analysis will give you a clearer understanding of the forces at play.

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[carlistmalaysia]

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[ukimmigrationmatters]

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