Aussie punters are drooling with anticipation of a new housing boom.
Victoria disease is preventing madness in the South East, but elsewhere it is all greed.
Plenty of room to rise before any nerves kick in.
The young and abused have been co-opted.
The Oct survey detail points to another factor in the mix – the expansion of the Federal government’s First Home buyer Guarantee scheme. The scheme allows eligible participants to obtain a mortgage with a 5% deposit without having to pay for additional loan mortgage insurance (which is typically required for deposits that are less than 20% of the value of the purchase). Eligibility criteria were expanded markedly in Oct, income caps removed and price caps raised
Of course, they are paying for it. So are you, through your taxes, as the government absorbs the default risk.
The RBA won’t help.
But that is only temporary. Let’s face it. Although it was the LNP that created the conditions for the endless housing price boom, it is the ALP that has boosted it most often.
Albo’s FHB stimmies, massive immigration, and rent perma-shock will keep all segments of the housing great housing goitre growing ever larger.
