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First home buyers rare as wild lions

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Australian Broker | 08 Dec 2016, 07:30 AM Agree 0
Thanks to rising loan sizes, continually falling numbers of first home buyers have prompted comparisons with this endangered species
  • Eve | 08 Dec 2016, 05:02 PM Agree 0
    A suggested solution:- What would be the negative impact if let FHB utilize their super funds to form a deposit and purchase a home? After all, buying a property forms part of our wealth creation strategy for "retirement purposes". We make the most of direct equities or managed funds to grow our nest egg, why not allow access to super funds to get in the property market, but only in specific situation, such as FHB. Not everyone has parents to make a gift or be a guarantor. However, everyone needs a roof. If we do not become more flexible with these rising non-deductible loans, we'll end up seeing accumulators renting for life and FHB retirees using their retirement funds to finally buy their first home.
  • John from SA | 09 Dec 2016, 11:23 AM Agree 0
    Good idea Eve - one could argue one's home is required longer than Super!

    Let the Government make home ownership a more even playing field - let FHBers also claim their home loan interest as a tax deduction, just like the subsidised mum and dad and professional "negative geared" investors!

    Also, to offset the above, the Feds (and/or States) should also charge an additional 5% "Purchase Tax" on foreign buyers of Oz residential property.

    As well as existing investors, these foreign buyers are also pushing FHBs out of the market - they should help to subsidise Australian FHBers.
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