Why Super for Housing is a Bad Idea - Purplepingers (youtu.be)

submitted 2 months ago by [email protected] to c/[email protected]

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NOTE: Video sponsored by the ACTU

Key points

It would make house prices increase by more than the maximum amount people could withdraw
It would cost the government $1 trillion in the long run
It would leave people with $200k less in retirement savings
It would significantly affect the returns on all superannuation as funds would need to keep more cash reserves uninvested so it is available for withdrawal

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[-] [email protected] 5 points 2 months ago

So people remain excluded from property ownership, but hey, at least the economy will be ok

[-] [email protected] 1 points 1 month ago

That's just a stupid comment. You could take the 1 trillion dollars it would cost the Australia government and spend it on any number of things to make ownership easier.

[-] [email protected] 2 points 1 month ago* (last edited 1 month ago)

You could take the 1 trillion dollars it would cost the Australia government and spend it on any number of things to make ownership easier.

That's true. The issue is, they're not going to implement any of those ideas...

So people who can't enter the housing market remain fucked over, because the imperfect ideas that might actually get off the ground get set aside in favour of better ideas that will never see the light of day.

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this post was submitted on 17 May 2024

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