Older women to receive first-preference for low-cost properties in Australia's inflated real estate market

Submitted by Minuteman on Thu, 2019-09-05 04:59

Link here. Excerpt:

'The $6.8 million State Government Assist program will fund nine homes for single women aged over 50 on low or moderate incomes.

The one or two-bedroom homes, in suburbs including Findon, Kidman Park and Woodville West, will be built on plots of land from 160 sq m to 211 sqm, with a maximum price of $407,100.

However, eligible buyers will only have to pay up to 51 per cent of the purchase price through a shared equity arrangement.
...
Human Services Minister Michelle Lensink said the Assist program would help “this cohort of women get their foot in the door of homeownership”.
...
Any of the properties not sold in 30 days will be made available to anyone eligible under the State Government’s broader Affordable Homes Program.'

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Single over-50 females. They'll die and what's likely to happen? Their ("their") houses b/c they're in a shared equity deal can't be left to descendents so the Australian gov't just sells their share of the house to the next sucker.

It's trussed up to look like a feel-good female-welfare program but it's actually an elaborate rip-off scheme.

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Submitted by Matt on Fri, 2019-09-06 01:12