Why Super for Housing is a bad Idea
youtu.be
My first collab with Aus Unionshttps://linktr.ee/purplepingers

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
  • macrocephalic@lemmy.world
    1·
    1 month 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.