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
    • Ada@lemmy.blahaj.zone
      2·
      7 months ago

      Sorry, I was being a bit tongue in cheek there. The economy will continue to be shit for people who struggle to afford home ownership whether or not they can use superannuation to help get their foot in the door.

        • Ada@lemmy.blahaj.zone
          2·
          7 months ago

          Sure, but by the time those solutions are in place, another generation of people will have been denied the chance to own property, which has generational consequences on economic and educational outcomes for those families.

          The answer is short term relief combined with long term change. Denial of short term relief because of hypothetical long term strategies that aren’t going to be implemented helps no one.