Can hardly wait to see Swannie try to sell this one on the strength of cooked numbers from their Melbourne Institute mates.
But ya know what? I really don't think the RBA is going to have any alternative. They told Rudd not to blow the surplus on totally unncessary largesse to first home owners because it would create a price bubble, they did it anyway. It's payback time.
Don't know what it is like in other states, but in mine, the new home builders are already giving away a huge truckload of freebies (e.g. ducted air con, dishwasher, insulation t/out, timber flooring, carpets, paving around house, drive way paving, clothes line and letterbox etc etc). As from next week, it would probably also include "free double garage" and there will be a fire sale of all those sandwich size allotments the developers have been busy carving up thinking the gravy train would never end.
Come in spinner.