The association said other potential effects of using super for a housing deposit were: Increase already high house prices and levels of household leverage, increasing the vulnerability of households and the broader economy to negative shocks; Exacerbate the upswing of the current house price-credit cycle; Be an effective transfer of Australians’ retirement savings to property owners and developers; Be ineffective in assisting those interested in achieving home ownership given that most non homeowners in target age groups have low superannuation balances; Make home ownership even more difficult for those with low superannuation balances or no superannuation due to the house price impact;