The australian government has been giving free cash for first home buyers of up to $21K to buy their first home (newly built) or $14K for buying pre-existing homes. The stimulus was supposed to end on June 2009 but has now been extended to the end of September 2009 and some has been speculating that it will be extended again to the end of the year.
Reactions are a bit mixed everywhere. Some say that house price has since remained high due to sellers seeing an opportunity to offload their assets at a higher price targetted at hungry first home buyers.
Now if first home buyers don’t see an incentive, would they be pursuing on owning a home at all?
Rumors and forecasts are also saying that unemployment rate *may* be getting higher and times will get tougher for first home buyers to make their payments in the future.
Bla Bla Bla…
The fact is that people who can think with their own head want to own their own home, it’s just a matter of sooner or later and when the time is right. But can someone tell you when the time is right? NO! And even if they were right about the timing, other personal factors might have been different by that time.
Yeah, there will be tough times making repayments but property prices will never be cheaper in the future 5 years compared to what it is today. If only propery were free but we’re not living in a communist society anymore.
So what’s the conclusion? I don’t know. Sometimes I do overanalyze but other says that’s a strength as in attentive to details. But one thing is for sure – I do want to own my own home and buy a few investment properties in the future.