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Why Super for Housing is a Bad Idea - Purplepingers (youtu.be)

submitted 6 months ago by [email protected] to c/[email protected]

23 comments fedilink hide all child comments

NOTE: Video sponsored by the ACTU

Key points

It would make house prices increase by more than the maximum amount people could withdraw
It would cost the government $1 trillion in the long run
It would leave people with $200k less in retirement savings
It would significantly affect the returns on all superannuation as funds would need to keep more cash reserves uninvested so it is available for withdrawal

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[–] [email protected] 6 points 6 months ago (1 children)

Spud's goal isn't to make life better for the average Australian. All the listed negatives are positives for the LNP - make the rich richer, and the poor poorer. Luckily, he's thick as shit and the average Australian can see what a terrible idea it is to spend your future.

[–] macrocephalic 1 points 5 months ago

I think you're giving most Australians too much credit. The other thing is that, if you actually want to own a home, in isolation this might be a good thing - as house prices have been rising faster than super for most of the last 20 years. The problem is that, as a whole, this will cause house prices to increase even more - which only helps people with more than just their PPOR.