Bobby. wrote on Mar 30
th, 2025 at 3:39pm:
I blame Albanese.
If you want to know the truth, look back to Howard.
He transformed the housing market forever into a financial market and not about actual housing.
He was also warned by both the RBA and the Productivity Commission that these changes would create lasting and baked in housing affordability issues, but he chose to ignore those:
Quote:Howard Government ignored 2003 warning on capital gains tax change impact on housing affordability
Despite recognising spiralling house prices were pushing home ownership aspirations out of reach more than two decades ago, the Federal Government at the time chose not to act on tax change recommendations, newly released documents show.
Cabinet documents from the 2004 Howard Government released by the National Archives on January 1 detail the response to a report that recommended reviewing capital gains tax discounts as soon as practicable.
The documents show the government tasked the Productivity Commission in August 2003 to evaluate the affordability and availability of housing for first home buyers.
The report noted that house prices had rapidly escalated since the mid-1990s from 6 times the average person’s income to 9 times, with booming demand and supply failing to keep up.
The Commission also suggested the government review the tax system, particularly the Howard Government’s capital gains tax changes in 1999 and negative gearing.
“The Commission has concluded that these general taxation arrangements have lent impetus to the recent surge in investment in rental housing and consequent house price increases,” the report noted.
In the cabinet response, the Prime Minister and Treasurer recommended not reviewing the tax system, noting “the importance of providing Australians with continued certainty for their investment decisions”.
“It’s not clear that the change in capital gains taxation in 1999 would have had a large impact on house prices,” they wrote.
Link It was deliberate.
Any attempt to rein it in has been rendered politically toxic because it would affect all the so-called "mum and dad investors" who bought into the property market, turning any meaningful reform into an electoral death sentence.
Labor tried, twice, in 2016 and 2019, and the Coalition’s scare campaigns cost them both elections.
Coalition Media sources like SkyNews are already trying to make it another election issue,
That signals that Dutton has no plans to undo Howard's deliberate changes that caused this mess.
People like you, Bobby, turned to the very architects of this crisis, warned repeatedly, yet they charged ahead anyway. And what did they do? They made it worse, pumping in first-home buyer grants, raiding Super, doing everything possible to keep prices inflated.
And now, you want to blame Albo?
Seriously?
If you actually care about the facts, about Dutton’s track record and the glaring contradictions in his claims, we can go through them, but there's a lot.
But if, like so many, your real issue is immigration, and you're just looking for a convenient excuse to mask that, then I won’t waste my time.
Just understand this: Blaming Albo and turning to Dutton and the Coalition as the supposed fix will do nothing but ensure the bubble keeps inflating, while the crisis worsens.
Look at Labor’s policies, actually understand how they’re walking the tightrope of preventing a market crash (because otherwise, they’d be wiped out electorally) while making housing more accessible for those who need it:
- Investment in social and affordable housing
- Housing Australia Future Fund (HAFF)
- Incentives for Build-to-Rent projects
- National Housing Accord
- Increased Rent Assistance
And what did the Coalition do? Tried to block all of it. Sometimes, with the Greens,though at least the Greens were just grandstanding, delaying things for a year to grab headlines.
And Dutton’s plan?
Go on, Bobby. You or anyone like you who blames Albo, explain why Dutton is a better option. I’ll wait.
What is he doing about Negative Gearing or CGT discounts? What is he doing about housing supply, and how is he going to pay for it?
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