Alas the removal of middle (read State Governments), I wish it was tomorrow, but can’t see it happening in our life time.

I also believe we are not that far away from the total abolition of middle governments either.

This is a simplistic response because I do not have the time, nor is this the appropriate forum, to cite a host of policy initiatives and funding formulas that could be developed to unlock the capital from the homes of pensioner paper millionaires to fund their retirement. It is inequitable and immoral that the taxpayer subsidises pensioner paper millionaires, consequently preserving the full inheritance of the pensioner’s beneficiaries.

And with that, M Jackson et al, I shall retire from further posts on this subject regardless of the degree to which you may goad me.

Haven’t seen it covered in recent times, so would appreciate some thoughts on the average “time on market”. Again, I am certain the stats will be less than robust, but my study of the display advertising suggests that whilst the quantum and value of property on the market seems open to debate, it seems very clear that those that DO make it to market seem to be staying there much longer than prior to the previous twelve months or so.

M Jackson may have a valid point here. It is easy to talk a market up but where is the demand coming from? I really cannot see how property prices cannot do anything but fall. The very people that completely missed what was coming over the past few years are the same people now proclaiming that we have found the bottom and we are now into the recovery. Sorry, we have 15 years of relentless partying, goverment-fuelled free money, a system where debt was the same as earned money, and we have now had a systemic collapse. And people think after a few months that’s it
? Dont confuse a euphoric bear market rally with the underlying fundamentals which show that the rules have now changed. Where, exactly, is the money going to come from to create the new growth? Surely you cannot all think it is that simple. This thing is playing out and most people will be faked out thinking that its all sunshine out there.

The very people that fuelled the boom in Sydney upper-end property are the ones that were leveraged and predominate the finance industry. One and one equals two. How hard can it be to see what will happen now?

Are you for real? Apart from being a smartass, you are also pretty naive. Reverse mortgage. Oh yeah, that’s a brilliant idea. How ridiculous :

A falling property market ; increasing debt ; no chance to generate income to pay it back. I could take you through the mechanics but perhaps it is way over your head. great idea in a bull market, but the minute the capital growth stops, it makes no sense. It is a one way bet, just like the long beta play every second Aussie has been on for the past 15 years via the share market. Compound that with sharp rises in unemployment and an environment where credit is frozen and debt is now toxic…and its game over for stupid products like reverse mortgages. You can add in the fact that pensioners have been hit by rates heading towards zero, dividend payments being cut and a Labour Govt now hell bent on squeezing them to get as much as they can to pay for that useless stimulus package that is no nothing more than a long terms recipe for a banana republic…

SO, PATRICIA, WHAT DO YOU HAVE TO SAY IN RESPONSE??

Not sure how many watched Stateline last night with Quentin Dempster interviewing Nathan Rees. Unlike his Federal counterparts who had a record 21 leaks, when asked about our state Budget in two week’s time he went on the defensive.

Rees – “No I’m not going to speculate. I’m not gonna make any indications. Suffice to say that the $4.8 billion in reduction of GST revenue is a difficult issue for us to deal with.”

He is right there given that in economic growth and record tax receipts they could not deal with it then. Now broke – it will be a very hard tax on the taxpayers of NSW. We can expect new taxes and old taxes being increased – this will be a shocker! Talk of another new annual tax on the principal place of residence is getting stronger. One can only assume this further explains why Ruddy Fantastic is distancing himself from the Rees Government at Fort Crumble.

So what does an old person who just happens to have lived in Mosman all their life, but has no income, no cashflow yet a property that has increased substantially in value, supposed to do?