Hi Marron, I don't think an ALP victory will be positive for...

Hi Marron,
I don't think an ALP victory will be positive for Stockland, even though I'm a holder and it's one my largest positions. Stockland is very cheap right now. it's trading at a value close to the NTA of its assets, but its residential book is carried on balance sheet way way below its true end value.
I'm not positive on residential right now, in fact I'm very negative, thus my not owning any banks (currently). What Stockland has going for it, leading into a negative price trend in the resi market, is that it's going into the cycle cheap (not expensive). Also it's gigantic land bank was purchased a long long time ago. The price it paid for land particularly in qld but also Melbourne and Sydney was ridiculously cheap. This should give it a cushion as the market moderates more. it can make money even as prices fall
However, the biggest risk with Billy shorten is his focus on negative gearing, his focus on the capital gains tax discount and the fact he is a blood brother of the construction unions. The ALP and its views on franking credits stink, as do the 3 major risks for the resi market noted in this paragraph.
Closer to an election we need to see labour speak up about what they really are going to do without the fluff. Some of their policies will be quite damaging (particularly for the banks which leads to everything).
I'm investing more and more outside Australia these days.