Even before property prices started skyrocketing in the past year, buying a new home was unaffordable for many young Australians.
And today, with the huge surge in prices we’ve experienced, the dream of homeownership feels like it’s moving completely out of reach of many young families.
So, are we moving into a society of property haves and have nots?
Well, that’s one of the topics I’m going to be discussing on today’s show with Federal Parliamentarian Tim Wilson who has been outspoken with his views on housing and superannuation. And, interestingly as you’ll hear, one of his roles as Chair of the House of Representatives Standing Committee on Economics is overseeing Philip Lowe, the Governor of the Reserve Bank.
We’re going to discuss a range of interesting topics, and then at the end, I’ll leave you with my mindset message.
Interview with Tim Wilson
In today’s show, I talk about the future of housing and tax in Australia with Tim Wilson who has served as the Federal Liberal Member for Goldstein since 2016 and currently serves as Chair of the House of Representatives Standing Committee on Economics.
Now I must declare that Tim is my local member of parliament, but I don’t want today’s show to be a political discussion, however, I am interested in an insider’s view of what’s going on with the economy and in particular our property markets.
Some of the topics Tim and I Discuss:
- Why Tim got into politics
- His concerns about the future of the nation
- What he’s learned about how political philosophy affects practical reality.
- Why Tim is so passionate about homeownership
- The belief that in Australia people have a right to own a home
- The rising gap with young Australians not easily able to get into their first home
- Whether the wealth gap is causing more political problems.
- Why homeownership is political
- The long-term trends around homeownership
- The barriers to homeownership
- How homeownership is tied to debates on super
- Tim’s previous outspokenness on superannuation
- The design of the superannuation system
- What superannuation is for
- Where the economy is headed
- The difference between what the data says and what people are experiencing on the ground
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Some of our favourite quotes from the show:
“We’re losing the middle class, so the rich are getting richer and the middle class are disappearing a bit.” – Michael Yardney
“Fortunately, the pessimists were let down when Australia’s last quarterly GDP figures came in at a 0.7% growth for the June quarter.” – Michael Yardney
“How do you know when you’re an expert? When you can consistently get the same result in any market.” – Michael Yardney
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