
Loans to Help Struggling Builders Complete Homes
Homebuyers stuck in limbo due to unfinished houses have been thrown a lifeline, with West Australian (WA) government loans to help struggling builders complete projects. The $10 million (US$6.7 million) program will provide interest-free loans of up to $300,000 (US$200,000) for builders with houses that have been under construction for more than two years. Treasurer Rita Saffioti said that with a fast-growing population, housing remained a key issue in the state. “There are hundreds of homes that are out there that are not being completed by builders leaving families stranded,” Ms. Saffioti told reporters on Jan. 4. “Homeowners who are left in limbo living with family members (or) continuing to rent when they’ve got a property that they’d like to move into.”...
