In March, my conveyancer and I had several email exchanges, in which I wrote that the First Home Buyers Grant Bonus and Boost would be extended beyond 30 June 2009. I expressed my concern that the extension was not a good idea, and that property market would get worse in six months time, and by which time more buyers will be defaulting.
I also mentioned that early Federal election was looming, for which she agreed; based on the fact that the Parliament sitting days had been shortened without any reason. She reckoned it would be between September 2009 and March 2010.
After the release of State budget and Federal budget on 7 May and 12 May 2009 respectively, the extensions of the bonus by the State Government and the boost by the Federal Government were confirmed. At this uncertain time for job security, it takes a lot of guts for first home buyers to venture into high level of debt.
My latest email to the conveyancer was just to remind her that my prediction was on target. I added that the early election will be held in November 2009, and that the downturn would last for another three and a half to four years.
I hope my prediction is wrong, but I do hope that you the readers take heed of it and prepare for very tough time ahead.
I also mentioned that early Federal election was looming, for which she agreed; based on the fact that the Parliament sitting days had been shortened without any reason. She reckoned it would be between September 2009 and March 2010.
After the release of State budget and Federal budget on 7 May and 12 May 2009 respectively, the extensions of the bonus by the State Government and the boost by the Federal Government were confirmed. At this uncertain time for job security, it takes a lot of guts for first home buyers to venture into high level of debt.
My latest email to the conveyancer was just to remind her that my prediction was on target. I added that the early election will be held in November 2009, and that the downturn would last for another three and a half to four years.
I hope my prediction is wrong, but I do hope that you the readers take heed of it and prepare for very tough time ahead.
