Housing speculators Vs. investors

By: trevwatson (Registered ) on 24-09-2007 00:10

My recently married son who also has a child and an average Australian income has told me he doesn't even think about buying a house. He's done the sums and it doesn't add up. I admire his financial responsibility and their decision for his wife to stay at home to bring up the children. At the same time I get upset that this "average" family has had to give up on what I had come to consider was an Australian birthright. P.S. They are not aiming high. I've seen the $300k houses in Brisbane they have been looking at and they still need a fair bit of work to bring them up to scratch. 
 
We have to somehow remove "speculators" from the housing market without removing genuine "investors". Reduced capital gains tax benefits for average or below average priced properties should only be available if the property is held for at least 10 years. To ensure this wasn’t abused. If investors wanted the reduced capital gains tax benefits. They would have to agree to the ATO being advised if the property is to be sold prior to the 10 year period being reached with the ATO reclaiming the benefits if sold early.  
 
The intention is to keep the speculators out of the first home buyers market without

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