Part equity housing has been around at a State level for years now and it has enabled first home owners to buy their own home which otherwise they could not afford.
This is an extension of those schemes at a Commonwealth level. In WA for example most developments include an affordable housing component within those developments. It enables the purchase of a home with a low deposit and whereby you own a majority share of the property. The property is treated as if the person fully owns it with no involvement from the Government body. The person can buy the govts share when they can afford it at market value or if they sell the capital gains are shared according to the ownership ratio.
Developers, have embraced this policy because to an extent it provides some guaranteed sales for the govt sponsored home equity component.Participants for example can buy a really nice place or apartment in a first class complex because they are only up for part of the purchase price. The govt doesn't interfere with their share and only becomes involved on buyout or sale.Its a system that's been tested in various States and it works. The biggest problem is that there have not been enough such opportunities offered. This expands access and can only be a good thing.
Coalition shills like you Angor will have jumped the gun and criticised it just because its Labor wanting to expand this initiative. You have overlooked the fact that liberal state govts have embraced part home equity schemes also.
