Why did we go through a economic recession of the 90s? The recession we had to have off the back of high interest rates, things were starting to to come down and become more affordable.

What happened? Look, it was high interest rates, massively high interest rates.

Like I said, my home loan rate was 17% in November of 87.

Wall Street crashed around that time as well, which created a bit of a confidence issue.

Government expenditure was high.

Capital gains were starting to come into play.

there was just a step back by a lot of people.

Is this something that sticks around or is this something that historically will come in and go out as quickly as it came in?

So let's focus more on capital gains.

For me, the biggest issue in the budget was actually the trust, the treatment of distributions of trust.

You can live with the capital gains, you can work around that.

You can live with the negative gearing, you can work around that.

But that trust one is a tax on capital, a tax on investors, a tax on business.

Or a tax on aspiration.

And tax on aspiration.

Do we now look at structure as a 10-year plan or do we have to be very nimble, very fluid and have an array of different structures that's set up to utilize the different benefits that may result from the different style of investments, the different type of investments that we may look at? Are we classifying things more heavily from an income perspective versus a capital gain perspective? And this is where it comes back to being deliberate and

Yeah

... that's gonna occur if a super fund cannot buy or borrow to buy a property.

The Greens would say, "Well, ordinary people now, you know, the first-time buyers can go and buy a property." Well, I, I doubt that.

I've done my numbers.

I've spoken to people.

I mean, if you can't afford to buy a $1.4 million house on, you know, a 50,000 deposit, you're not gonna be able to buy a $950,000 house on a 50,000 deposit.

Just ain't gonna happen.

So it's almost like going into JV with, like a, a, an SSF with a, a person?