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Huge Immigration numbers causing rental crisis

Has your rent gone up in the previous year? Well you can thank Anthony Albanese. He’s bringing in up to 400,000 immigrants a year and every one of them needs a house too.

Transcript

As a servant to the many different people making our amazing Queensland community, I know rental prices are a savage problem. Interest rate rises are increasing mortgage repayments and forcing more investment property owners to dip into their own pockets to pay their mortgage. If owners do not have that extra money, then negative gearing is not going to help. Inflation of 7.8 per cent means that council rates, water rates, maintenance costs and insurance are making it harder and harder to hang on to investment properties.

Now the Greens propose a rent freeze, which is really a 7.8 per cent rent reduction each year that it goes on. The only effect of a rental freeze will be to drive investment property owners out of the market. Australia needs investment property owners to provide a home to people who are renting. Driving them out of the market will hurt the 400,000 new Australians who arrived last year and the one million likely to arrive during the course of this government. 

Rising rentals are a product of too many people chasing too few rentals. We know 10 per cent of Australian homes are owned by investors who are not renting them out. Their investment strategy is to buy a new home and keep it locked up while it appreciates in value. Having a tenant in there is a complication they don’t want and lowers the resale value because the home is no longer new. Most of these properties are foreign-owned.

One Nation would give these owners 12 months to sell those properties to Australians. Bringing that number of homes onto the market would do more to bring prices down than a price cap. And One Nation would reduce immigration to net zero, meaning there would be only enough arrivals each year to replace those that leave. This will allow time for the housing construction industry to catch up with demand. It is about supply and demand.

These sensible, honest policies are One Nation’s solutions to high rents, which will protect real estate values from the chaos a rental cap will introduce. 

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RBA rate rise pain caused by Government incompetence

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$969 represents the total rise in repayments on a $500,000 mortgage since Treasurer Jim Chalmers has been in office.

While rate rises may have been foreseeable, they are only happening because of the Government’s incompetence causing inflation in the first place.

The government printed hundreds of billions of dollars out of thin air, leading to massive inflation which the RBA is trying to bring under control with a sledgehammer.

Australians who bought a house under the RBAs promise that rates wouldn’t rise until 2024 are struggling with more pain to come.

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RBA props up banks with $100 Billion

The Reserve Bank of Australia has just given $100 billion to prop up the banks but why is the government ignoring spending that would increase our productive capacity like road, coal power stations and dams?

Transcript

[Marcus Paul] All right, the RBA this week cut the interest rate down to you know, virtually nothing. 0.1% interest rates. So I mean, it’ll help people buy or stay in their homes, but there is a cost of course, self-funded retirees as we’ve talked about on the programme, who rely on investment income, and seeing their returns fall to basically nothing.

[Malcolm Roberts] That’s right. And then so, these people providing for their so-called own retirement is just hot air, because the legs had been cut out from under them now. We’re now at the point where retirees are having to spend their capital, because the return on their nest egg is almost non-existent and heading negative. And what’s disturbing is that, you know, this is going to create a lot of pressure for people at a time when people don’t need it. And by printing another a hundred billion, and giving it to the banks, they’re going to prop up the banks to do more mortgage lending. This government, the state and federal are completely ignoring the need to invest in productive capacity. We need to invest in power stations, dams, roads, ports bridges. The Iron Boomerang Scheme, the Bradfield Scheme. These and many other prime investments, opportunities in our country

[Marcus Paul] Yeah.

[Malcolm Roberts] Are being neglected. And we need to get into building the productive capacity of our country.

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