The MP who a couple weeks ago ‘coincidentally’ invested in shares of a real estate investment trust, Tim Wilson, has once again not shut up about the Federal Government’s scheme to have young people use their super to buy a house.
The MP, who is not a financial advisor, says that poor people who don’t have enough super to afford a deposit, should instead dip into their savings to cover the rest. “I know plenty of people who have $200k lying around in an ING account they’ve forgotten about. Why don’t they just use that?”
Mr Wilson hit back at criticism of the scheme, claiming it would allow low income earners aged 25-30 to buy a house in places like Sydney or Melbourne. “If your super isn’t enough to buy a house, just use $200k from your savings.”
Mr Wilson laughed off suggestions that some people didn’t have $200k in savings. “If that’s the case — which I very much doubt — then they should just borrow it from their parents,” he said.
“You can’t trust ‘experts’ who have conflicted interest in helping the investors,” tweeted the MP who owns four houses and shares in property investment funds.
Mr Wilson claimed that ordinary people were randomly coming up to him to tell him how great he is.
“You know the other day I was down by the local avocado on toast store, and a regular working class bloke recognised me because everyone knows what I look like. The young chap put down his latte and said, to me he says, ‘I am a inner-city virtue signalling leftist, and I secretly agree with your stance on home ownership. I personally am sick of my superannuation fund taking money away from my future and saving it for my future. I would much rather use it to buy a house here where I can afford it due to my vast savings. I am excited to be able to begin my investment portfolio so young and working class like. All the information is available on your easy to use website that I don’t think you spam on twitter homefirstsupersecond.com which doesn’t use .gov or .com.au because it doesn’t have ulterior motives.'”
“So make the most of your retirement savings by investing in property now. You won’t have any rent to pay when you get old. Sure, you won’t be able to afford food because you don’t have any super. But that feels more like ‘you’ problem than a ‘me’ problem.”