Labor’s housing gimmicks shot down

Two of the Albanese government’s signature housing policy gimmicks have been shot down by the Senate, namely:

1. The Help-to-Buy shared equity program, whereby the federal government would provide 10,000 eligible participants with 40% of the purchase price of a new home and 30% for existing homes per year.-
2. The Build to Rent program, which would provide tax incentives for developers to build and maintain apartments.

The Coalition and the Greens have sided to block the bills.

The blockage of the Help-to-Buy scheme is a positive development.