Financial Services Council rejects super for housing push

The Financial Services Council (FSC) has categorically rejected the idea of allowing people to use their superannuation balances for a first home deposit:

Jane Macnamara, said that when the proposals being put forward were closely examined they simply did not “stack up” and ran the risk of artificially inflating house prices…’

[Macnamara] said that while, at first blush, the superannuation for housing proposal looked attractive there was a “mountain of research demonstrating that giving first home buyers more money simply increases house prices”.

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