Oh, prices will only rise by 0.5% according to budget estimates. Nothing to fear!

Value in economics Explained by Prof. Steve Keen youtu.be/9KjFH9_Zm88?si… via YouTube

Albo and Claire O’Neill walking in the room for their presentation at the Commonwealth Bank

Some of you pointed out that the chart below might be incorrect and going by the Dallas Fed housing price data, it is. Australia is still the very clear gold medal holder, but the figure for Canada is quite different.

"The possibility of a material shock to the international financial system is rising," RBA warns Right then.

1/ Your wages haven't risen by a factor of 5 or 6, but the price of houses you're trying to buy have risen that much. I just finished analyzing 40+ years of #housing policy across 14 countries. Every government scheme claiming to help first-home buyers has LIED.

9/ @albomp Albanese's latest scheme looks good individually but it's disastrous collectively. Covering mortgage insurance for 5% deposits just encourages bigger loans, driving prices higher. This benefits older Australians who are landlords. It hurts young people trying to enter

Canadian entrepreneur who sold to Twitter wants higher taxes on the wealthy to fund nonprofit housing, and land value tax. "luxury-property owners should be paying land value taxes even if their homes never sell; that would help to bring prices back down from the stratosphere."

#Georgism "we must recognize the fact that it is due to monopolies which we permit and create... that some men are enabled to get so enormously rich while others remain so miserably poor." - Henry George, Social Problems reddit.com/r/georgism/com…

don't say they didn't warn us

Labor is asking our nurses and teachers to spend the bulk of their income on mortgage repayments. How are they supposed to live? It’s reckless to push people into loans they can’t afford. And it makes things worse. theguardian.com/australia-news…

So hard to tell the difference between UK parties in government over the last century, all of which have followed the same destructive tax policy (except for the 1909 and 1931 Budgets). We therefore see the disasters of government-approved rentseeking all around.

What are your thoughts? To understand it better, I have also attached my explanation in the comments for it. #australia #realestate

Are we in bubble territory with our housing market? Investors are rushing back into the housing market just as the government expands its scheme letting first-home buyers purchase with as little as a 5% deposit through free mortgage insurance. I just spoke to a real estate

I can’t believe I have to say this. If building new homes costs more than buying existing homes, the new homes won’t make existing homes cheaper. It’s like mass producing Ferraris to make used Toyotas more affordable.

While the new 5% house deposit policy sounds great, it's actually going to push soaring house prices even higher. "All this does is create more demand in the economy." - Greg Jericho, Chief Economist Greg Jericho #auspol

This is a powerful point. The 'silent consensus' on destructive tax policy across a century of UK government—broken only by 1909 and 1931—is the key to understanding today's rent-seeking disasters." #UKPolitics #TaxPolicy #RentSeeking #FiscalHistory #PoliticalEconomy #UKBudget

"The state really does not need tax #revenue to spend and in fact really cannot spend tax revenue. Our meme: taxes create a demand for the #currency, ensuring willing sellers of goods and #services for money." #meme #tax #government #money #socialsecurity realprogressives.org/a-meme-for-mon…

Borrowing $800k+ by forgoing downlighting and a letterbox. Lol.