In every recession, there are many more NEW self-made millionaires emerge after it's done & over. Apparently, recession is your friend if you can thrive in crises & challenges.
Over the last weekend in Melbourne, Australia, the first auction weekend after the recent Federal Government announcement of doubling & tripling its first home grant, the clearance rate dropped from 63% to 57%, the worse since the last recession we "had to have."
The Federal Government has doubled the grant to first home buyers to $14,000, and tripled it to $21,000 for buyers of new homes. New home buyers in Victoria can get an extra $5000 from the State Government, or an extra $8000 for houses in regional areas.
The grant is available only once the home is purchased and documents signed.
There are more than 1,000 auctions this coming weekend in Melbourne.
John Ho
www.john-ho.vox.com
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