Super idea not a good one


Dipping into your superannuation to buy a new home is a bad move.

THE prize for the stupidest idea of the week must go toTreasurer Joe Hockey for his suggestion that first home buyers should be allowed to access part of their superannuation for a house deposit.

Not only would it drive up house prices, the plan has two other major faults: it ignores the true cost of homeownership and it subverts the purpose of superannuation.

Certainly, falling interest rates have reduced the gap between owning and renting, but…

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