First home deposit scheme backfires
The government's first home deposit scheme has faced significant challenges as house prices have dropped in various capitals. Over 50,000 first home buyers are now at risk of losing their investments due to this decline. The situation highlights the unintended consequences of the scheme.
- ▪The first home deposit scheme was intended to assist buyers with a five percent deposit.
- ▪House prices have tumbled in several capital cities, impacting the scheme's effectiveness.
- ▪More than 50,000 first home buyers are at risk of losing money as a result of the price drop.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.