Real Estate agents are now expressing their fears that the housing market will collapse when the subprime frenzy caused by the FHOB ceases.
The Brisbane Times reports Real Estate agent Peter Secco’s office had 37 sales in January and only two were above $500,000.
“If that’s not enough evidence for you then I don’t know what is,” he said. “Every buyer we have now is a first-time buyer and I would say 90 per cent of them are doing it because of the government incentive.”
» Agents tip housing crash after grant glory – The Brisbane Times, 16th March 2009