This week on the Flat Chat Wrap, as we approach the election, we are looking again at the various parties housing policies and wonder what they really mean.

We recorded this before the announcement that young people will be able dip into their Super to help fund the purchase of a flat or house if the Coalition holds on to power, and the revelation on ABC radio that they couldn’t find a single economist who thought it was a good idea.

I mean, do young people have much in the way of super anyway?

Instead we focus on the previous offer to older Australians to downsize and put their profits into their super.  As we discuss, with the gap between median house and apartment prices being almost double, that could be a big chunk o’ money.

Elsewhere on the pod, we are revisiting a couple of hot topics that have been covered in detail on the website.  There’s EV charging and some disturbing information about how the strata Hub will work, for a start.

There another piece of bad news for the benighted owners of Mascot Towers and a revelation from the Forum about a 24-unit block that’s just been hit with a $2 million special levy for a balcony revamp that might not even be needed.

All that and more in this week’s Flat Chat Wrap.

TRANSCRIPT IN FULL

Jimmy  00:00

It's the last week before the election, and they're throwing out policies. When I say throwing out; they're spreading their wisdom.

Sue  00:08

Absolutely.

Jimmy  00:09

So, we're going to talk about some policies that are related to apartments. We're going to talk about electric vehicles, because I listened into that webinar the other day. What else have we got, Sue?

Sue  00:22

We're also going to be talking about the latest development in Mascot Towers, which isn't so good, either. And, the case of an apartment building, which has just imposed a huge special levy on its residence.

Jimmy  00:38

Alright. I'm Jimmy Thomson, I write the Flat Chat column for the Australian Financial Review.

Sue  00:44

And I'm Sue Williams and I write about property for Domain.

Jimmy  00:47

And this is the Flat Chat Wrap.

[MUSIC]

Jimmy

So it's Sunday, and we've retreated to our little office, to get away from the smell of barbecue smoke from downstairs.

Sue  01:12

Because it's such a lovely day. It's a good BBQ day, really.

Jimmy  01:15

Whatever they're doing; they're either burning charcoal, or burning whatever they're trying to cook and they shouldn't be doing it. And you know who you are and you'd better stop. All right? Now, the election; well, we've got this policy, which is unfortunately about superannuation and downsizing. I say 'unfortunately,' because I don't really understand superannuation, to be honest.

Sue  01:43

Don't you?

Jimmy  01:43

No.

Sue  01:44

You better learn it quickly, now you're getting older!

Jimmy  01:47

I should, but apparently, they're going to allow anyone who's over 65, who sells their house because they're downsizing...

Sue  01:56

Anyone over 55, Jimmy.

Jimmy  02:00

They can then put $300,000 of the money they get from selling their big house, into their superannuation when they move into a smaller property, which let's face it, often means apartments.

Sue  02:16

Absolutely. And they will have much more time, when they won't be penalised on their pension, for having that extra money.

Jimmy  02:27

See, that's the bit I don't understand, is the pension thing. But anyway, it must be good news for potential downsizers, or the government wouldn't be trumpeting it and the opposition wouldn't be saying "oh, yeah, we'll do that and we'll go better."

Sue  02:45

Well, the opposition has kind of said it's a bit modest, really, and they say they don't really know what kind of effect it will have. They say if you're around 55, or just over; how many people who have families, would have kids out of home by then?