Mr Milk said..
Adam Bandt was on 730 last night explaining their position. What it seems to be is that government co ownership of housing is OK, but that house or flat, when it is sold, must be sold back to the government. Presumably the government agency then resells part ownership to a new "owner".
To me that looks like public housing with an enormous deposit required.
Actually, I disagree with the policy too. I don't even really like the idea of guaranteeing deposits (to avoid lender's insurance) and even first home owner grants. Even stamp duty discounts are not a good idea, which is funny as I have used both a first home owner grant and gotten stamp duty discount I think.
The reason that they are terrible is that it just stimulates the housing market even more.
Maybe the government want this so that their own IPs go up even more in price and they can sell them off? I imagine that cuttings capital gains discounts and tax benefits for negative gearing would be poison within the political parties.
