🚨 35,000 YOUNG HOME BUYERS EXPOSED AS PROPERTY PRICES FALL

Around 35,000 recent first-home buyers are at risk of negative equity after entering the market through Labor’s expanded 5% Deposit Scheme.

The scheme allowed young Australians to buy with deposits as low as 5%, with the government guaranteeing part of the loan and removing lenders mortgage insurance, encouraging many to purchase years before they had built the larger deposit and financial buffer normally needed to withstand falling prices.

More than $230 billion has now been wiped from Australia’s housing market in just four months. Further price falls could erase these buyers’ deposits and leave them owing more than their homes are worth.

@Aussie 🙂