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

submitted 6 months ago by zero_gravitas@aussie.zone to c/australia@aussie.zone

21 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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[–] ada@lemmy.blahaj.zone 2 points 6 months ago* (last edited 6 months ago)

You could take the 1 trillion dollars it would cost the Australia government and spend it on any number of things to make ownership easier.

That's true. The issue is, they're not going to implement any of those ideas...

So people who can't enter the housing market remain fucked over, because the imperfect ideas that might actually get off the ground get set aside in favour of better ideas that will never see the light of day.