The scheme was launched in Australia about a year ago and hasn't been a raging success so far, even though Australia has a massive housing affordability problem, just as we do.
The problem has been many homebuyers just don't want to give up the capital gain and most don't have any problems finding the mortgage. Often they'll just take out a 100% home loan and simply pay a higher interest rate rather than share the capital gains.
The problem is with inflation, your 'capital gains' may well be nothing yet you end up paying the better part of your equity. This is a ripoff.
FortNikitaBullion 1 year ago
The scheme was launched in Australia about a year ago and hasn't been a raging success so far, even though Australia has a massive housing affordability problem, just as we do.
The problem has been many homebuyers just don't want to give up the capital gain and most don't have any problems finding the mortgage. Often they'll just take out a 100% home loan and simply pay a higher interest rate rather than share the capital gains.
ofInterestNZ 4 years ago