They’re just as bad as each other: one of the two major political parties blaming the other for the mess they inherited when they came into power, into government.

But this time, Joe Hockey,  it really is different.

Whilst Labor didn’t cover itself in glory from 2007 to 2013, it most certainly did inherit a damning legacy from John Howard and Peter Costello. The Howard government failed to take any action at all to curb the residential real estate bubble that’s delivering us such financial grief, with people now unwilling to spend. (Even China has been proactive in trying to deflate its real estate bubble!)

Here’s proof of the Howard/Costello legacy.

So, please, Joe Hockey, no more of your “inherited from Labor” bullshit!

Barometer 3


“Government of the people, by the people, and for the people” requires public capture of the rent, the whole rent, and nothing but the rent.Maireid Sullivan

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  1. Are you able to update that chart for 2013 ?
    I am getting sick of waiting for this bubble to blow. All the signs are there its just taking too long

  2. Hopefully Joe can gain credibility by introducing a raft of land taxes applicable to residential property owned by foreign investors.
    It would be a start for the land tax debate and foreign property investors would make great ‘Guinee Pigs’ as they don’t vote.

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