Can't and will not argue with that. However I think that this whole property caper and the reason for it has escaped many. The only time one can be called a property investor per se is when you have a property beyond your PPOR.
Most homeowners are not investors. They merely hold an asset and to call it a consumable is a bit stupid. At what stage is the land consumed or the house for that matter. That asset then involuntarily gets paid off, acts as collateral etc - sure you heard it all before. Mainly a dwelling to provide stability for ones tribe and before you know it the equity builds up.
As for what you say I totally agree, but as long as politics is like this point scoring forum , very little will change. Governments of the day NEED people to keep coming in to soften the retirement blow from baby boomers. Now you have the ludicrous situation where public service wages of the average punter is massive when above a certain level.Ostensibly to mitigate them being poached by the mines. I wonder how many of them would survive in that world and coupled with that they have job security and run no risk on capital as experienced by those who have businesses , many of whom in this climate are not paying themselves to survive.
The incentive to be a clever country is missing and yes any attempt to keep the economy fuelled by pumping property is wrong. However with what is happening with our manufacture, tourism, mining - what choice is there for the decision makers.
