so home prices are going to plummet

Cash thrown at economic woes
October 14, 2008 12:00pm
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PRIME Minister Kevin Rudd and Treasurer Wayne Swan will unveil their stimulus package in a bid to protect the economy from a damaging slowdown in the face of the global financial crisis.
The pair will hold a press conference at noon today.



Pensioners and first-time homebuyers are expected to be among the beneficiaries of a rumoured $5 billion package which has been thrashed out at an emergency cabinet meeting.

But the Government has played down reports this morning that relief will be offered on state stamp duty fees to stimulate the housing market, although this remains a long-term goal of the sweeping tax changes being considered by the government's tax and welfare review.



There is speculation the plan will include a doubling of the first homebuyers grant from $7000 to $14,000 to boost the housing market.

http://www.news.com.au/business/money/story/0,25479,24494397-14327,00.html