Once upon a time, people wanted their very first homes. A group, including a person who leads, said these people should get to borrow lots of money to buy homes. They thought rules should let banks lend more money. It was suggested that maybe even parents could help buy homes too, or friends could own homes together. They talked about making borrowing easier because buying a home became really hard when the cost to borrow money went up. Some wise folks at APRA had rules to make sure lending money wasn’t too risky, but some believed these rules could be kinder for first-home dreamers. There were lots of ideas, like making it less costly for banks to lend money to these dreamers and finding new ways to team up for buying homes. This tale reminds us always to dream of a place called home 🏠💭🔑, and that’s the moral to the story.
Source:
https://www.abc.net.au/news/2024-11-28/first-home-buyers-easier-access-to-finance-lower-mortgage-buffer/104655062