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Billions of dollars wasted on grants to first home buyers : Comments
By Saul Eslake, published 17/3/2011Has any government policy than the first home buyers grant been pursued for so long by so many for so few results?
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Posted by Atman, Thursday, 17 March 2011 1:31:49 PM
Atman, you are correct, and may I say, it was the Real Estates and Real Estate Institute in each State that capitalised on the last First Home Owners Grant directly caused by the Labor Government who gave little notice to people who had just sold their homes, seeking another home, most of which were put on the market for another $30,000-50,000. Greedy sneaky real estates, some of whom, did not inform vendors who had just put their homes on the market, that they could sell for more either. It affected vendors too that had only just placed their homes on the market a week or two before it was advertised. I believe the Real Estate Institute through Business and Commerce alliances would have known earlier about the forthcoming First Home Owners Grant to be kicked off again.
Homes that were worth $320,000 were marketed for another $30,000, loans sought by thousands of first home owners were denied, in part because they missed out as a result of bank queues with staff being unable to process the loans prior to the cut off dates specified by Government, it caused first home owners to purchase homes well out of their reach by up to $50,000,later finding themselves in trouble financially, adding all of the problems Saul has mentioned.
Few grants were given out in my state, seriously disappointing many first home buyers.