With handouts by the federal and NSW state governments totalling up to $24,000.00, plus stamp duty concessions in NSW all available to first home buyers, making that decision on whether, or rather, when, to buy just gets tougher.
On the one hand, there's evidence of continuing falling home prices. So, do you wait until they fall further?
But, the additional government cash handouts are scheduled to end by 30 June 2009.
Does the Reserve Bank's hold on further reducing official interest rates (see this news item) send a positive signal for the economy? If so, could that result in home prices holding, or maybe even increase?
No, I don't have an answer, and my crystal ball is in for a major service, but John Kavanagh's article in the Money section of today's Sydney Morning Herald provides some helpful insights.
On the one hand, there's evidence of continuing falling home prices. So, do you wait until they fall further?
But, the additional government cash handouts are scheduled to end by 30 June 2009.
Does the Reserve Bank's hold on further reducing official interest rates (see this news item) send a positive signal for the economy? If so, could that result in home prices holding, or maybe even increase?
No, I don't have an answer, and my crystal ball is in for a major service, but John Kavanagh's article in the Money section of today's Sydney Morning Herald provides some helpful insights.
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