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Good question after reading this.... Labor would crash housing prices: Turnbull


Labor's plan to cap negative gearing of property and wind back capital gains tax concessions would crash the housing market, Prime Minister Malcolm Turnbull has told his coalition colleagues.


Mr Turnbull told a joint meeting of Liberal and Nationals MPs on Tuesday that Labor's policy would do nothing for housing affordability, which was mainly due to a lack of supply and delays in development approvals.

"More than one-third of new loans were made to housing investors and it "beggars belief" that taking those buyers out of the market would not impact on housing values."


"To crash housing prices would be very damaging to the economy," he said.


"(The ALP's policy) would represent a very significant shock to the largest single-asset class in Australia."

 

http://www.news.com.au/national/breaking...c169af022d

 

So with one face Turnbull is saying housing affordability would be unchanged by the policy and the other saying prices would fall? Maybe he read two different reports at once?

 

Which face do we believe?