"Anyone who buys a home for the first time gets a handout from the federal government. They also get grants from state governments. Further, they'll get stamp-duty concessions."
He's right. Pull the grants & top-ups right freaking now. But lets be even-handed about this - pull the taxpayer-funded tax concessions 'investors' receive via negative gearing as well.
Once the market has adjusted to the removal of all this largesse, then we'll see what he has to say about house pricing.
