kicking the can down the road

http://www.propertyobserver.com.au/mortgages/mortgage-brokers-call-for-rate-cut-and-first-home-owners-grant-changes

Bendigo and Adelaide Bank chairman Robert Johanson is opposed to the government intervening in the housing market and calls the grants “bad policy”, which unnaturally drive up the cost of housing.

"The government were just giving people money to get into new houses, which transferred the value to the sellers. It just puts costs up," Johanson says.

"I think it's a waste and a distraction," he says.

BIS Shrapnel senior manager Angie Zigomanis says first-home buyer incentives bring forward demand and consequently result in a drop off further on – as has been the case in Victoria.
Loan Market recorded a 20% drop in the number enquiries from first-home buyers nationwide during March.

The fall was greater in New South Wales and Victoria with activity in those states down 25% and 23% respectively in March compared to February. Only Queensland bucked the trend with a 3% rise.