Probably off topic here but turning to politics and money.
Looks like Labour will win the next election by default.
Being a Property investor I am scared by what is going to happen. I am in the process of selling 2 properties and battening down for a shi storm with the assault on property and investing in general. The policy of only allowing negative gearing on new properties is ignorant at best and will only encourage more units or outer urban slums.
Worse still a 50 % increase in capital gains tax means why would you bother buying a rental even new as when you sell who will buy.
I also think the whole intent is to drive house prices down but like Western Australia has shown when house prices go down people stop spending and lose confidence. Will it impact on the share market as people change from property to shares or will the money flow slow.
Some have predicted a mini surge as investors buy before changes occur who knows.
My view is when Governments change policies they usually f-- things up history repeats.
not walking away, running away
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