Reality is there are a lot of first home buyers out there relying on grants in any form they come to get into their first home.
is it wise NO but it is happening, but then IMO it is not wise to enter the property market with overvalued prices regardless
The point I was making is that the $7K reduction in the FHOG should not be looked at as only 1.5% of the puchase price of $450K, which is fairly insignificant
But a 15% reduction in the amount of funds many do have to place a deposit on their first home, which is very significant
The die hard property fans here love to go on about the leverage advantage of property investment, which can be very positive
But they conveniently forget leverage works 2 ways and can work against you just as easily as it can work for you
