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WATERCOOLER: Should parents help buy homes for their kids?

Malcolm Turnbull and Bill Shorten
Malcolm Turnbull and Bill Shorten

PRIME Minister Malcolm Turnbull is having to fight claims he is out of touch after saying wealthy parents should "shell out" to help children who are locked out of Australia's property market.

Mr Turnbull made the comments while talking to highly-paid Melbourne radio host Jon Faine about negative gearing and house prices.
 

IS IT TIME FOR PARENTS TO DO MORE FOR YOUNG HOMEBUYERS?

Take our poll and join the discussion in comments below
 

Mr Faine said negative gearing was creating conflict for the children of baby boomers who can't get into the market.

"They're saying 'for goodness sake, you baby boomers, you just want everything and you're locking us out,' " Mr Faine said.

"Are your kids locked out of the housing market?" Mr Turnbull asked.

"Yes," Mr Faine said.

"Well you should shell out for them. You should support them, a wealthy man like you," Mr Turnbull told the radio host.

"That's what they say," Mr Faine responded, laughing.

"Yeah exactly, see you've got the solution in your own hands… you can provide a bit of inter-generational equity in the Faine family," Mr Turnbull said.

Listen to the full interview on 774 ABC Melbourne below:

 

The quip has already drawn comparisons to notorious comments made by former Treasurer Joe Hockey who once said people who couldn't afford a home should "get a better job".
 

Should parents be expected to help their kids buy a house?

This poll ended on 05 June 2016.

Current Results

No, that money is for my retirement. I worked hard for my home, so can they

22%

Yes, we should be happy to help our children buy a home

19%

No, young buyers expect too much. Move somewhere cheaper

19%

What about parents who cannot afford a house of their own? They are no help

39%

This is not a scientific poll. The results reflect only the opinions of those who chose to participate.

In Question Time, Opposition Leader Bill Shorten targeted the Prime Minister's joking, reminding voters of Mr Turnbull's meeting with a family who had bought a property for their one-year-old child while benefiting from negative gearing laws.

"Is that really the Prime Minister's advice for young Australians struggling to buy their first home?" Have rich parents?"

"Prime Minister, just how out of touch are you?" Mr Shorten said.

Mr Turnbull accused Labor of waging a class war.

"They are sneering at the hardworking Australians who seek to make something for their children," Mr Turnbull said.

"And they dare to talk to us about being out of touch!

"This is a war - a political war - they want to commence against aspiration, against ambition, against enterprise."


 

 

Topics:  editors picks general-seniors-news housing malcolm turnbull


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