How does everyone offord a house with interest rtes at 10%??
You will have to serivce the loan at 13%
with rates at 10% howmany business will reduce staff /close, so les people in a position to now purchase
The level of price reduction you are talking about, I doubt teh Banks have stress tested their books at that level......
You will kill the economy in the process
Getting rid of negative gearing will reduce the incentive to build new investmetn properties for rental..government will have to take up the slack...& increase your taxes accordingly, RU OK with that?.. Cost to build governemnt housing will be twice that of free market.
Solutions to House Price and Rental Crisis??(Ideas), page-14
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