Labor's Home Ownership Dream Turns Sour

0:00Hello and welcome to the update. I'm Michelle Stephenson. Now the PM is denying claims that many borrowers using its 5% deposit scheme are now in negative equity. Labor says more than 100,000 first home buyers have accessed the program over the past year. The opposition claims many of those buyers now owe more than their home is worth as property prices tumble, but Anthony Albanese argues the issue was worse under the former coalition government. There are more less people in negative equity now from the latest figures than they were under the former government around 2000 during the last decade. But Liberal leader Angus Taladis agrees and says many of the buyers are simply poorer as a result of labor. They've done their money. They've gone backwards since they bought a house. This is the great Australian dream turning into a nightmare. And that's what we're seeing. Time and time again under this Labor government.

1:02The opposition meantime says it's skeptical to believe an end to card surcharges will actually lower prices. Now the federal government says the move will take pressure off consumers and help with cost of living pressures. But many businesses are saying they'll have to raise prices to cover those costs. Senior Liberal MP James Patterson has told news 24, Labor just can't be trusted. We encourage everyone who goes out to buy a coffee this morning to check. Is it in fact cheaper? And if so, how much cheaper is it compared to what you paid for yesterday or the week before or the month before? Because don't forget this is the Prime Minister that also told you that your mortgages would be cheaper. And Aussie, couple are among 174 passengers who survived a major incident aboard a plane on its way to Israel. Stephen and Carol Moss were caught up in the mid-air drama involving the fly-to-by flight to in which the co-pilot stabbed his captain and tried to crash the plane. Crew and passengers struggled for half an hour to bring that plane under control. Well for the police have issued an urgent warning over email scams after stopping nearly

2:02$465 million from being taken by cyber criminals. Authorities warn that hackers are hijacking email chains to steal payments like property deposits and commercial invoices. Aussies and businesses are being encouraged to verify bank details over the phone before transferring funds. And the Communications Minister has been named in times list of 100 influential stars after a year of censorship accusations and travel scandals and Ica Wells has been recognised as shaping the future and defining the next generation of leaderships. To spot on the coaches and captains of the roosters and nights have come to face to face as the build up to the grand final continues. Now the nights head in as rank outsiders but are riding away for support after reaching their first decider in 25 years. And lion's senior coach Chris Fagan has confirmed his retirement after a decade at the helm saying now feels like the right time to go. The 65 year old reaching the decision just days after leading Brisbane to their third consecutive AFL premiership.

3:02And your statement is now ensured that he comes is apparently heading back to solitary confinement amid claims that he's been receiving some VIP treatment. What is the disgrace rapper has been living it up with premium liquor, phones, pizza and massages? We'll get this series now $180 million richer after selling half of her music catalog. Now the late singer is selling the 50% stake. Imagine how many chandeliers she can now buy. And Ella Langley is hit back at the haters after her song Choosing Texas. Beat Emory Icari declined the longest number one song in history. The country star says it was tough to deal with all the criticism but amidst she's proud of who she is and how she got there. This leads from the never podcast news team on another episode of the update for you tomorrow. I'm Michelle Stevens.