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Affordable Canberra housing…. so close.

By Sands - 15 October 2008 67

Well done on increasing the first home owners grant K-Dudd.   Just when Canberra housing was stabilising and, in some cases, decreasing – you go and f&*k it up by increasing the first home owners grant!

Oh, but not for me – (predominantly, and by most accounts known to me) for the snotty nosed rich kids who can afford it!  Sure, I may have a costly failed relationship – BUT I STILL DON’T OWN A HOME KEVIN!!!  And I have no forseeable option to own one.  I pay more taxes than most of these people, but still can’t get into the housing market. 

Means test it d*ckhead.

What’s Your opinion?


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67 Responses to
Affordable Canberra housing…. so close.
Thumper 10:19 am 15 Oct 08

Anyway, if I was a first home buyer I’d be jumping in as well!

Thumper 10:18 am 15 Oct 08

In the meantime it’s helping to stimulate the building industry in the current financial crisis

Nit really, as new houses will be built anyway. Yes, there may be a small rise, but nothing enough to get the economy moving along again.

There is plenty of ways this could have been done that would have made more sense. In a nutshell people don’t have any spare money therefore they don’t spend it and the economy slows. Tax cuts could have helped here, but the major problem at present appears to be the price of petrol and groceries. If the government cut it’s excise on petrol by, lets say 10%, then there will be an increase spending which in theory should boost the economy.

By the way, what ever happened to the promised tax cuts from the last election? And how petty is the pensioners grant?

Hollowmen…

justbands 10:15 am 15 Oct 08

They agreed with me….

“”This should provide a significant boost and help stimulate the building industry in the current financial crisis,” he said. “But it’s important to make sure we have the land available to keep up with supply.”

Real estate agent Anthony Toop said the number of first-home buyers would increase by between 20 per cent and 30 per cent. “This really allows them (first-home buyers) to re-enter the market,” he said.

Mr Toop said house prices could increase slightly but the main concern was the number of affordable properties available to the first-home buyer.

HomeStart Finance chief executive Gary Storkey said more than 40 per cent of potential first-home buyers who have called HomeStart over the past year would now be able to buy a house.

“For those people who don’t quite have enough savings to get into home ownership, the increase to the First Home Owner Grant will enable them to get across the line,” he said.”

jakez 10:12 am 15 Oct 08

http://www.news.com.au/business/money/story/0,25479,24498492-5013951,00.html

The whole package (not just FHOG) is political. It’s like something out of the Hollowmen, except I’m not laughing.

justbands 10:10 am 15 Oct 08

> Justbands, you can only prop something up for so long before natural market forces push something towards its intrinsic value

In the meantime it’s helping to stimulate the building industry in the current financial crisis.

Jazz 10:03 am 15 Oct 08

Justbands, you can only prop something up for so long before natural market forces push something towards its intrinsic value

justbands 10:00 am 15 Oct 08

In a “normal” economic climate, sure…this would be a little crazy. However it’s not a normal economic climate. Drastic situations require drastic action sometimes. Seems to have been fairly well received by many economic & political observers.

jakez 9:57 am 15 Oct 08

I am a young first home buyer and I realise it is gibberish policy.

However, you better believe jakez is going to take that money.

justbands 9:57 am 15 Oct 08

NRAS?

Skidbladnir 9:56 am 15 Oct 08

Wait for NRAS, and see a bit more of a shift in the housing state of play.

Jazz 9:52 am 15 Oct 08

I dont think that this was a sensible move & expect to see a shift upwards in housing prices as a result. the co-contribution savings scheme was a much better policy at addressing housing affordability for first home owners.

Interestingly there was a segment on the Hack Half Hour last week which covered the very issue of owning your own home and whether it was a crock. well worth watching.
http://www.abc.net.au/triplej/hackhalfhour/programs/s2377292.htm

toriness 9:52 am 15 Oct 08

those first home buyers about to immediately enter the market will benefit – but then shortly i predict that *amazingly* house prices (in the lower end of the market more than anything) will jump by the amount the FHOG is being increased! so in the end, the real ones to benefit from this will be state/territory governments (more stamp duty), real estate agents (more commission), and those who already own investment properties.

p1 9:42 am 15 Oct 08

I was really hoping that the mortgage bust thingy (I have a firm grasp on international finances…) would crush the Canberra property market, providing lots of cheap houses (as poor families are evicted and forced to live on the street) so that I have a chance to buy one.

Thumper 9:33 am 15 Oct 08

I think it’s pretty much knee jerk policy that will upset the atural balance of housing prices, which is not a good thing.

But it will make him popular amongst the young first home buyers and popularity seems to be the optimum and desired result.

justbands 9:29 am 15 Oct 08

Oh boo hoo. Kevin & his mates have got MUCH bigger issues to address than the cost of a house for YOU in Canberra. Very, very loose Canberra connection there too I might add.

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