Steve Mickenbecker
speaker
56 appearances
1 recordings
1 series
first heard Mar 2022
last heard Mar 2022
Steve Mickenbecker’s voice in public audio — every appearance, attributed to the second.
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Appearances
Good morning, Craig.
It's great to be with you.
The unfortunate part of it is that household expenses, now it's not just petrol, the bowser, it's also the grocery basket, have gone up quite rapidly, disturbingly actually in the last 12 months.
Wages haven't kept pace.
We're yet to see wage inflation really take off.
So it's going to be a headache until we start seeing wages move along with household expenses.
And then of course, we're going to see home loan interest rates go up.
So there'll be no reprieve when eventually
wages go up.
Yeah, discretionary spend is the thing that we'll have to give away.
You know, you have to pay your household food bill, you've got to pay for petrol, you've got to pay your bills, and you've got to pay your mortgage.
Now, at the end of the day, money in is your wage.
And if all of those costs are going up, well, you're going to have to actually cut back on some discretionary spend.
But now that slows the economy's growth up, but it's unfortunately the way it's got to be.
I think it's a workable idea.
The fact is that, frankly, in Sydney, Melbourne, young first home buyers have been priced out of the market.
And we've got to find a way of redressing that because we'll have social issues going forward that we've not faced as a country.
We pride ourselves on equity and there's not a lot of equity where I guess first home buyers are being crowded out really because of investment, the attractiveness of negative gearing and discounted capital gains tax.
Maybe that's going to be addressed as well, but that's a bit of a political nightmare.
Shared equity means people get less down the track in terms of capital gain, but they're in a property and they've got the foothold.
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