Victorian Treasurer Tim Pallas has announced that Black Rock and Vanguard will sponsor the Victorian Government Home Equity Sharing program.
The move comes off the back of AHPRA raising the mortgage assessment buffer and record low interest rates in EZFKA. The program will allow the state government to purchase part of your mortgage, with a view to taking all of it as 2030 draws closer.
“This truly is an historic partnership with the world’s biggest duopoly – Equity, Mate is now Great Reset, Mate,” Pallas said.
“We’ve just spent the last 18 months bankrupting everyone with complete bullshit to the point of being unable to pay your mortgage. So, here we come with the prepared solution and this is how we’ll get your house, I mean, help realise the Aussie dream.”
“I’d like to thank both Jane Halton and Brett Sutton for helping this become a reality. You truly will own nothing and will be happy.”
Federal Treasurer Josh Frydenberg supported the move and offered to pull the financial rug out whenever necessary.
We all knew shared equity would be a policy at some stage. Now that the Victorian government is an investor, there is no way house prices will go down. It won’t be allowed. The gates will be wide open early next year and living standards will be inversely proportional to house prices/population size.
Yes ramjet. The only qualifier to what you say is the size of the shared equity scheme. This one seems relatively small at 500m.
but they can grow it and, potentially, every house vendor could be able to expect a 25% price subsidy from the State!
This.
Just like how they say immunocompromised only for the booster shots to begin with, this will be expanded.
Victoria has no other industry so a state funded price floor is the only solution.
This will be entirely dependent on what the US regulators do, but they will probably eventually allow them given the government has already committed before the approval was given.
Glad I bought before they introduced this shit.
Blackrock & Vanguard sponsorship should also include the Vaccine Rollout and mandates and Lockdown policies forcing more face-to-face trade online.
This is fantastic news! The Andrews Government is committed to and ensuring all Victorians have access to affordable housing through initiatives such as these.
#Vic-copsRtops
#loveUdan
Yes, fantastic news for vendors.