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Morrisons latest idea to boost ponzi house prices, page-16

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Dave R

58,089 Posts.

16

12/04/17

13:50

Post #: 24030093
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Originally posted by botchee ↑

The last time negative gearing was abolished was 1985 and was re-instated in 1987.
At the time investors sold a lot of their rental properties and the cost to rent a property went thru the roof as a result, or so we were led to believe by the media at the time.
It became a very negative political hot potatoe one that would have seen the government chucked out, hence they brought it back in because it proved to be a poor decision for the time.

Not sayin it wont work this time around as the circumstances are slightly different. Last time we had just gone thru a pretty severe recession where property prices plummeted from late 1982, prices were starting to recover in 1985 and some of the investors may well have sold up as they may have just just got their head above water.

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Rents did not skyrocket when negative gearing was abolished.
That is propaganda from the Real Estate Council who want neg gearing retained to keep prices up.
I am not sure why negative gearing was re-introduced but I suspect it was because so many politicians owned negatively geared properties.
Dave R.
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