November 2026

Well, if you want to see how you can stuff up a state, Labor's done that to Victoria, and now they've done it to Australia.

I mean, the countries, I think it's the worst it's been for many years.

Do you recall a time where we were in this position? I don't understand quite why Labor always comes in, spends a heap of cash, then we have a change of government and they have to rein in.

It seems to be all my life I've seen this pattern.

It's such a massive own goal.

They wanted to reduce housing prices for first home buyers and they made the housing market so unattractive nobody wanted to buy.

Now, of course, you pick up every newspaper, everyone's forecasting house prices are going to fall.

Now, who in their right mind would buy a house when everyone's saying it's going to be cheaper in the future?

And also, you've said that the government loses out on funds because people aren't buying.

Well, there's no stamp duty for the governments.

And Michelle Bullock yesterday said that this will cause a massive deficit in new home construction.

So Labor was going to build all these houses.

They're all going to be cheap.

and it's all gone belly up.

The

government have announced sweeping changes to negative gearing.

Could you expand on that one, mate?

Well, they abolished negative gearing unless you buy a new house.

Now, the key to making money in real estate is to buy a property to which you can add value.

You know, the old thing about the worst house in the best street.

Mm-hmm.

How can you possibly add value to a new build? There's a major case last week in Queensland where a couple bought a unit off the plant at the Gold Coast six years ago and so much time has gone past and now the builder wants far more than the contract price.

Right.

And the judge said it would be commercial lunacy to make the builder keep the existing price because we all know building prices have doubled.

Mm-hmm.

Well, if you want to see how you can stuff up a state, Labor's done that to Victoria, and now they've done it to Australia.

I mean, the countries, I think it's the worst it's been for many years.

Do you recall a time where we were in this position? I don't understand quite why Labor always comes in, spends a heap of cash, then we have a change of government and they have to rein in.

It seems to be all my life I've seen this pattern.

It's such a massive own goal.

They wanted to reduce housing prices for first home buyers and they made the housing market so unattractive nobody wanted to buy.

Now, of course, you pick up every newspaper, everyone's forecasting house prices are going to fall.

Now, who in their right mind would buy a house when everyone's saying it's going to be cheaper in the future?

And also, you've said that the government loses out on funds because people aren't buying.

Well, there's no stamp duty for the governments.

And Michelle Bullock yesterday said that this will cause a massive deficit in new home construction.

So Labor was going to build all these houses.

They're all going to be cheap.

and it's all gone belly up.

The

government have announced sweeping changes to negative gearing.

Could you expand on that one, mate?

Well, they abolished negative gearing unless you buy a new house.

Now, the key to making money in real estate is to buy a property to which you can add value.

You know, the old thing about the worst house in the best street.

Mm-hmm.

How can you possibly add value to a new build? There's a major case last week in Queensland where a couple bought a unit off the plant at the Gold Coast six years ago and so much time has gone past and now the builder wants far more than the contract price.

Right.

And the judge said it would be commercial lunacy to make the builder keep the existing price because we all know building prices have doubled.

Mm-hmm.