The Greens Also Make Aussies Homeless By James Reed
Labor is going to let the "Help to buy" shared equity scheme for housing scheme die rather than undertake property tax reform. Thus, the proposal will be put to the vote without securing any commitment from the Greens. Here is an outline of the scheme which would have given Aussies 10,000 more houses, a drop in the ocean to be sure with mass replacement immigration: "The Help to Buy Scheme will be a shared equity scheme that will allow eligible home buyers to purchase a property with a smaller deposit. This scheme works by allowing buyers with a deposit of at least 2% of the property's purchase price to obtain a loan with an equity contribution from the Labor Federal Government.
The size of the equity contribution available can vary from up to 30% for an existing home to up to 40% of the purchase price for a new home. This aims to assist eligible homeowners to enter the property market sooner with a smaller deposit and benefit from a smaller mortgage and smaller mortgage repayments. While you would not be required to pay rent on the portion of the home held by the Government, it is expected that the Government's equity contribution be paid down over time or paid back if you sell.
Labor announced that 10,000 places for the Help to Buy Scheme will be available each year for eligible homebuyers."
As noted by Macrobusiness.com.au, the Greens are only concerned about young inner city chattering class members, while the rest of us can sleep under a tree. At least a tree is greener than the red Greens.
https://www.mortgagechoice.com.au/guides/home-ownership/help-to-buy-scheme/
"It's what they do best. And with every passing day, they get better at it.
As expected, Labor will let "help to buy" die rather than engage on property tax reform:
Anthony Albanese has challenged the Greens to vote against Labor's shared equity scheme for housing, rebuffing the minor party's demands to horse-trade in return for cutting housing tax concessions.
On Sunday the prime minister said the government would put its help-to-buy legislation to parliament, where "the Greens can vote for it, or they can vote against it".
"It's as simple as that," Albanese told reporters in Nowra after the New South Wales Country Labor conference.
The comments signal Labor may seek to call the Greens' bluff and avoid a second round of fractious negotiations over housing by putting the bill to a vote without having secured a guarantee of support.
Not having "help to buy" (which should be called "help to inflate house prices) is a good outcome for the nation. It is one of the most stupid policy ideas in the long history of stupid policy ideas for housing.
But it also means, let's face it, another 10k Aussies without a home of their own.
All of these Greens housing stunts are achieving precisely nothing for Australians. Which is just fine with the Greens. Cheaper is not their purpose. They are about pretending to care to attract younger voters from Labor.
The truth is, until The Greens wake up to dramatically slashing immigration, not raising it manically, they are the worst housing affordability party in the parliament."
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