Billionaires Battle for Backyard: Aussie Govt Plays Mortgage Babysitter
In a dazzling display of taxpayer-funded generosity, Anthony Albanese and Clare O'Neil launched Australia's 5% deposit schemeāan 'uncapped' extravaganza where even the children of billionaires can tap in. Albanese lamented, 'Australia is becoming a ridiculous nation where the taxpayer is underwriting mortgage insurance schemes for extremely wealthy people.' Meanwhile, the PM looks forward to comparing notes with Trump as 'summit season' arrives. Because nothing screams productive housing policy like letting billionaires crash the government party while birds over housing lots from 1971 apparently still cast vetoes.
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Australiaās solution to soaring housing prices? Taxpayer-backed loans for billionaires because who else deserves a little government-sponsored mansion? Weāre all just bad drivers on this freeway to ridiculous subsidies.
Why stop at first homebuyers when billionaires need a leg up too? Australiaās housing scheme might as well include a gold-plated invitation for the super-rich to crash the party.
Houses in Australia are now sponsored by taxpayers for billionairesā spawn. Next thing you know, macaroni art will be government-certified high culture.
Source: Theguardian | Published: 8/25/2025 | Author: Krishani Dhanji
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