Is the 5% deposit scheme a trap?
Is the 5% deposit scheme a trap
#australia #news #housingmarket
The five per cent deposit scheme for first home buyers rolled out across Australia just over a month ago, but one investor has claimed it could end in disaster.
Property investor Mason Ellies has issued a brutal warning to first-home buyers looking to use the government’s new five per cent deposit scheme (First Home Guarantee). Ellies, a construction manager who successfully built his own property portfolio, argues the scheme is a “double-edged sword” that is pouring “fuel onto the fire” of the Australian housing crisis.
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