Episode Details

Homeowners who jumped into the market recently are waking up to a scary reality: they might owe more than their homes are worth. With prices dipping, the government’s expanded five percent deposit scheme — which lets first-timers buy with just 5% down — is backfiring for some, leaving them stuck in negative equity. Meg Girdler, who bought her Sydney apartment last December, now watches its value plummet, turning her dream home into a financial minefield. Economists warn this is mostly a risk if you need to sell fast — say, due to job loss or breakup — but with no policy in sight to boost prices, the outlook remains grim. Meanwhile, the Prime Minister celebrates rising auction activity as proof their housing policies are a win — even as agents admit there’s still not enough affordable homes to go around.

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