I love the language contained in Trashcan's media quote:
"These changes will significantly disadvantage a large majority of first home buyers, as over 80% of homes bought in NSW are existing properties.
Consequently, NSW first home buyers will need 3% to 4% more when purchasing an existing property."
Here is what the quote should have said:
"These changes will disadvantage owners of established properties, as NSW first home buyers will have 3% to 4% less money on-hand when purchasing an existing property.
Consequently, prices for established homes in NSW should be expected to fall in price by 3% to 4%, everything else being equal."
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- cessation of first home buyers grants
cessation of first home buyers grants, page-26
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