The first home buyers grant does absolutely nothing to boost purchasing power for first home buyers. It simply passes a higher price to property owners selling.
The biggest scam going around is around tax. Investors can claim interest as a tax deduction whereas first home buyers and home owners cannot claim interest as a deduction. This in effect is a pass of wealth from the lower/middle class to the higher wealthier people who own direct property.
They should make all interest on housing tax deductible, or make all interest on housing non-tax deductible. They should also align the capital gains tax treatment on sale... rewarding a home owner when they are 60 years old does little to increase the fertility rate for younger people.
