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@lisavega09 I get it.. just not necessary to bring into the convo. Especially in current climate.

@jade1898 How on earth, did u manage to turn a financial discussion into a religious/ethnic issue. Shame dude. Seriously. I'm happy for the idea to be stupid.. cos it's an idea.. but don't do that. If u don't have anything to contribute, move on. Apologies to anyone reading that users comment...

@relicuk By not paying principle and interest, your $2000 repayment becomes only ~$1000. So it's more affordable, receiving cost of living pressures. Once house is paid off, continuing to pay $1000 for a bit longer is the same budget, but you are likely to be in a much better position by then...

@adam1983irwin I just picked a number for the example (household income, not individual). But also.. 2 adults with 3 or 4 kids... and bam, u can't afford a house that fits anymore. Once u get to 200k salary, tax eats almost half. But yeh, 300k household is probably a better upper limit.

@lindseym1013 It excludes the wealthy and foreign and its only for PPR. Those with limited budgets aren't going to go into over bidding wars.. they can't afford to. (Which is the majority of people).

We all know what's going on.. no need to rehash. So here is an attempt at a solution. A government owned Not for Profit Bank.(let's call it GovBank). For Australian citizens who have lived in Australia for 10 years minimum. For homes purchase price under $1 million. Provide Zero interest loans...