What was the reason given for this reduction? The cynic in me thinks they are trying to stimulate the market - particulary for non-FTBs who may have sold during the boom and are now renting, and also those who want to trade-up / trade-down.
By introducing this, is the desired effect to bring about a bottom for the housing market and therefore eliminate further losses on the banks' balance sheets?
What do people think the impact of this reduction will be?
By introducing this, is the desired effect to bring about a bottom for the housing market and therefore eliminate further losses on the banks' balance sheets?
What do people think the impact of this reduction will be?