Victor Hugo wrote, "A house is built of logs and stone, of tiles and posts and piers; A home is built of loving deeds that stand a thousand years." Every Australian dreams of owning a good home. Many will do anything—from applying for cash loans to saving up for years—just to own their dream home. With this in mind, The Australian Government initiated a stimulus package for the housing industry to bolster the country’s chances of coming out of an economic slump faster than projected.

Many took advantage of the first-time home owners grant and applied readily for it. These applicants submitted the necessary documents and other requirements in order to be eligible to get thousands of dollars in grant fund. Many saw this as a great opportunity to acquire new homes for fewer payments. Of course, mortgages rates still apply but grant recipients are eager to pay it, even if they have to get payday advances once in a while. However, recent news cast a gloomy light on the successful stimulus from the Government.

An almost five percent spill in the new home sales two months past would be the reason the Reserve Bank will delay on a half percent increase in the standard rates, economic experts predict.

The skid in gross revenues from the Housing Industry Association information recently reported was related to a partial pulling out of government grants for fledgling home buyers and pursues an 11 percent ascent. Detached house sales decreased by a little over four percent in September, with apartment sales reduced nearly seven percent.

"People observed a later burst of sales from first home buyers in August in advance of the step-down in the first home buyers grant," stated Harley Dale, the HIA head economic expert. The stimulant to new home gross sales is now on the ebb, he imparted.

"The gains in new home sales will center on a return of upgrade buyers and investors. The present status of new house sales lead to a small rebound in house construction that would drag the basic requisite for fresh domiciles," Dale said.

Later after the month of September, those participating in the industry would only be entitled for part of the first-time home owners increase of $7000 for settled homes and $14,000 for brand-new homes until the end of the year. Head economist Craig James reported the numbers as a "reality check".

"Even though the Australian economy is doing better, events in some regions of the economic system is being artificially expanded by government input," he said. Australians would not be certain of the present situation of the housing industry until after the terminable stimulant is altogether pulled away.

However, many Australians choose to remain optimistic and are still in the buying mood for new houses or upgrading to bigger ones. Some are trading their old houses for better houses in choice places or locations. It is just a matter of weathering out the economic slump and hoping that things would look up sooner.