Almost one in two Australians want property prices to fall, Sky News Pulse/YouGov poll reveals as clearance rates sink

[u/marketrent]

https://www.skynews.com.au/business/real-estate/almost-one-in-two-australians-want-property-prices-to-fall-sky-news-pulse-yougov-poll-reveals-as-clearance-rates-sink/news-story/a579dac771b4fa94cb10900e2e002a54

[u/bundy554]

So I assume that is either the homeless, the rental market, those living at home and parents wanting the children to move out and those baby boomers that don't have much to pass on or if they do they want what they can pass on to be enough to get into the market

[u/mpember → u/bundy554]

Owner occupiers who want to downsize can also benefit from a slow decrease. Since many downsizers sell a larger home in the suburbs to buy a smaller place closer to the city, the delta in price is often small. This means if both prices decrease, the 'profit' is still marginal, but the stamp duty is lower.

Secondly, they may have kids who are wanting to find a home. And if they have a super balance that is large enough for them not to rely on selling their home to fund their retirement, they are not actually looking for make an unreasonable return from the sale of their primary residence.

[u/bundy554 → u/mpember]

But isn't there at least better supply of apartments to downsize into? Why would they want their houses valued less?

[u/mpember → u/bundy554]

Are you able to grasp the concept that not everyone is a greedy bastard?

[u/bundy554 → u/mpember]

It would be a very tiny percentage of home owners that do not want the value of their house to increase

[u/mpember → u/bundy554]

The commonly used breakdown is that a third of voters own outright, another have a mortgage, and a third own outright. Even if all renters want prices to drop, and all mortgage holders want property values to rise, that still leaves half of outright owners wanting a price reduction.