Thread: NewBuy mortgage scheme for first-time buyers to expand to 'second-steppers'
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Old 14-03-2013, 15:22   #3
Will21st
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Will21st has reached the bronze age
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Re: NewBuy mortgage scheme for first-time buyers to expand to 'second-steppers'
Quote:
Originally Posted by Damien View Post
I don't like homes as an investment anyway. It favours people who were around when there were plenty of houses around and many more being built. It was worked out that it is a finite resource and would likely go up in value as the supply dwindles and people started buying more homes as investments because they can afford to do so. This just makes the prices go up further and young people cannot afford to get onto the ladder and increasingly struggle to even afford the rental prices. We could build a lot more homes but this appears to be quite difficult despite the demand being there, a lot of people have quite a lot of interest in maintaining the status-quo. Can't have the precious house price's falling can we?

It's just an older generation that lucked out at being born when they were then pulling up the ladder after them.
perfectly put.
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