Sky News host Rita Panahi says Labor’s shared equity housing scheme gives a “worrying insight” into the “hard left values of modern Labor”.
Under the $329 million scheme eligible participants are given a commonwealth equity contribution of up to 40 per cent for the purchase of a new home, and 30 per cent for an existing one.
Ms Panahi said a “massive bureaucratic mess” awaits anyone involved in the scheme who does any home improvements or extends the property. “A valuation must be performed if you renovate so the government doesn’t reap the benefits of your hard work and expenditure when you sell,” Ms Panahi said. “But anyone who understands the property market knows all too well a valuation performed when improvements are undertaken can be meaningless two years or 20 years later.”
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