I agree that its a stupid idea, im against it.

They're not in the "middle of nowhere" but definitely not the most desirable areas.

And lots of these homes are actually great for buying cash for passive income.

everyone who doesnt own a house should get 25k for their 1st house

get phucked landlord chads

I'll take a BJ

DEI loans at the top of the market? What could possibly go wrong

Just a reminder for the peasants out there with the memory of a goldfish, the government did the same thing with NINJA loans in 2007 and then the big banks vacuumed up the foreclosures for the next three years

Ain’t socialism great?

This may possibly be the dumbest policy proposal ever. This is Bernie Sandersesque Modern Monetary Theory and it is comical.

The only way to make housing more affordable is to increase the supply of homes a) build a chit ton more homes &/or b) deport the 20+ million illegals that occupy housing. Throwing money on the buy side will only make prices continue to climb - 1) cause you are directly driving prices up and 2) the money supply is increasing causing MORE inflation which will make EVERYTHING more expensive for EVERYONE.

Imagine being a first time homebuyer with your crispy 25k credit. You throw your max bid at your dream house only to get outbid by another first time homebuyer with their crispy 25k credit that has a higher pre-approval than you. Get fukkd brokie.

p.s. the tax payers lose, the first time home buyers are at no advantage, and the only winner is the home seller - they just got an additional 25k. LAND CHADS WIN AGAIN!

After the crash was a great time to buy a house.

And left wing retards will gobble this chit up then blame Republicans when it doesn't work

I'm with DeadlyStriker on this one, it's pure inflationary policy and you note that in your first post. Your second post only goes further to prove the point.

I've just purchased in the same market as you (Australia), and the fact that you apparently live a CEO 10k/day both on 7 figures based on equity is proof that these sort of policies don't work. I'm around 10 years younger than you, earn a good 6 figures, and had to pay a fortune to just make it into the market so that I could escape the rent bullchit. That fortune goes to those that had the opportunity to enter the market earlier (late 90's is pretty golden), which on the whole is unproductive.

I won't be afforded a similar opportunity to build equity across multiple properties as I cannot conceive how prices could go up to the extent you have experienced on your assets in Australia. I don't have a problem with this either, as I'm happy to work as a productive member of society and have some security in owning my own place (eventually).

What I do have a problem with is that the Australian property market was a one trick pony that was good for around 20 years, now it's phucking over younger people and who knows wtf their children are going to do in 20 years time. Beyond that, it's unproductive and selling houses to one-another in a merry-go-round does not lead to the advancement or stability of the country. Even the boomers are now coming to realise this as it bites their kids who are much less likely to enjoy the same quality of life and retirement as their parents. Australians all got rich selling property to each other and decided that essential productive work like manufacturing was below us and now we're left completely dependent on other countries like China for our continued existence.

I'm no expert on the US but I dare say it's a similar picture there with a widening wealth gap and the middle class becoming relatively poorer and that contributes to the political situation there. I can see why some of Trump's policies speak to the population.

also funny how all the people who are against UBI FREEDOM DIVIDENDS TAX ROI also support Rich People Giving their OffSpring some UBInheritance and it is quite possible those Rich People benefit from some Corporate Welfare to fund their SilverSpoon Dynasties

I’ve paid back that grant hundreds, if not thousands of times over in GST, income taxes, company taxes, wages and council rates

There’s still plenty of money to be made in residential real estate. The COVID bump alone meant that everyone who had significant exposure to the market is now a multimillionaire

So list a starter home for $425,000 instead of $400,000 as originally planned. More corporate profit, let government debt pay the difference. Cha-ching for homebuilders. What am I missing?

sellers will raise prices, this fixes nothing but wastes government money

idiot policy.

I've no doubt with your income it is indeed thousands of times over you've paid back the grant in taxes. The tax rate here is very high once you're earning over 80k/year, not to mention stamp duty, land tax, payroll tax (if you're paying wages) etc.

My problem is that people can become multimillionaires off the back of non-productive speculation alone, and as you say, so many people as well- all for doing sweet phuck all for society. What's worse is they don't seem to have the insight that it's damaging to those that come after them and the country as a whole. While it's a lot of people who've gotten rich off property, there's a whole lot more younger people who won't be afforded that opportunity and are going to likely be economically stuck. In a system where living comfortably increasingly relies on "moving up", this can't be a good thing. We're lucky we have our government funded healthcare but it's always getting worse as the increase in population and population age stresses it.

My parents retired in their 40's off the back of the early property boom, they paid plenty of tax through their business, to employees etc. While they have lived well and think they're pretty clever as a result of their early retirement, they didn't quite make enough to give me a leg up, and I certainly wouldn't have the option to retire in my 40's (not that I'd want to anyway). They can't believe I paid more for a small place then they did for 4 properties combined that ultimately afforded them their retirement. I certainly can't see myself being able to give a meaningful chunk of cash to any kids I may have.

We made our money from new development, not passively buying and selling existing homes.

So we employ architects, hydraulic and civil engineers, fire safety engineers, structural engineers, builders and all the subcontractors in productive economic activity

This I can get on board with and support. Creating new homes and enabling skilled employment.