no money? ///
Land Tax is coming to every state.
NSW will abolish home buyer stamp duty for some kinda land tax.
welcome Land Tax. They have already privatised the Land/prop registry in NSW - that makes it easy
===There are warnings that Australia’s housing market could “crash” if interest rates rise too high after super-sized increases in the past two months.
The Reserve Bank of Australia (RBA) has hiked interest rates three times since May, taking it from a record low of 0.1 per cent to a staggering 1.35 per cent.
The Swiss investment bank UBS has predicted interest rates will peak at around 3.5 per cent in March next year, but said this will still hit the housing market hard.
“We still think market pricing of about 3.5 per cent – if delivered – would likely crash housing, and see the economy nearing a recession,” George Tharenou, chief economist at UBS, told The Australian.
If interest rates were to rise to 3.5 per cent it would likely see the average variable mortgage rate hit a whopping 6 per cent and could plunge the economy into recession, according to the investment bank.
“Interest payments across the economy next year for the household sector will close to double from now,” Mr Tharenou said.
