The Victorian Government announced an expanded new $500m Homebuyer Fund will see tax payers own part of up to 3,000 homes. Most recipients of the Victorian Homebuyers Fund will need to have a 5 per cent deposit, with the government chipping in up to 25 per cent on top of that. The government will keep that stake in the home until the property is sold or the owner buys out its share. However, the opposition has accused the government of giving with one hand and taking away with the other because of hikes in stamp duty and land tax.
https://www.abc.net.au/news/2021-10-08/victoria-announces-500m-home-buyers-fund/100523938
We discuss why this is a bad idea, and a million miles from the strategic approach to home ownership which is required. It also pulls in the opposite direction to APRA’s tightening this week!
Go to the Walk The World Universe at https://walktheworld.com.au/
