Folks, let’s just say… it’s been a week!!!
You know that exclusive story we shared with you in last week episode?? Well, it’s, ahh, hit the headlines… BIG TIME!
Don’t know what we’re talking about? Here’s a Quick Recap…
Ben was listening to Chris Bowen (Shadow Treasurer of the Labor Party) on ABC’s Insiders: The Interview. Bold Statement made. Rather bold in fact (Listen to ABC’s audio here). Chris Bowen quotes that 96% of properties negatively geared are Established Properties. Ben nearly “loses his cornflakes”. Where had Labor got their data from???
Fast forward to today and not only do we know that the ABS data Labor used to model their negative gearing policy is, in fact, WRONG… but also Ben’s done a bit of behind-the-scenes leg work to expose the real data.
The result? You’ll find out EVERYTHING in today’s episode! But we WILL say this… our world exclusive has made front page news on the Financial Review and Chris Bowen himself has mentioned a certain “mortgage broker” (aka ol’ mate Kingsley) in an address yesterday.
Hence, we’ve decided to push Julia’s “Part 2” property tax episode back a week because we think this breaking news is SERIOUSLY IMPORTANT for you folks!
Before we get into it, we do want to add that we are NOT questioning the methodology of the PBO and other expert economists responsible for the modelling work here — far from it. What we’re saying is the data they had access to was simply wrong. And without Labor approaching any of our industry experts prior to pushing the pedal on their modelling, the figures they’ve been telling the general public are, and have always been, misinformed. And this, to be frank, can have quite dangerous consequences for the property market.
Here’s what you’re about to learn….
- What’s the newly announced election date?
- What happened after we released last week’s episode?
- How did the ABS get to their numbers?
- What are the assumptions the PBO has come up with?
- What has the AFG’s data revealed?
- How much does that differ from the quote “96%”
- What are the consequences to revenue that this modelling is going to deliver?
- How much are the estimates off?
- What is being said in the media about all this?
- What was Chris Bowen’s response?
- What percentage of owner occupiers are buying new?
- How many investors are actually buying new?
- What will likely happen to supply if Negative Gearing is introduced?
- What are the flow on effects?
- What did Moody’s forecasts, released yesterday, predict house prices would do?
- Was there any industry consultation?
- Why is this not about the methodology of economic experts?
- How will a two tier market affect property prices?
Read Financial Review’s Articles:
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