It's a supply and demand thing.
The only thing which will stop spec builders and estate agents racketeering is swamping the market with so many council houses (coupled with removing the "right to buy") that they can't find anyone willing to pay stupid money any more.
Every measure supposedly designed to make it easier for buyers to get on the ladder (raising stamp duty thresholds, abolishing stamp duty for first time buyers, "shared" ownership) just means prices spiral upwards as estate agents hike the prices by exactly the amount the new government policy has (on paper) given to buyers.
And shared ownership sucks - there's all sorts of rules around the way the equity held by the corporate part of the ownership is allowed to appreciate which means that the owner-occupier's share rarely goes up in line with house price inflation - in other words, you can find yourself worse off and owning proportionately less of the house than when you started. (I'm not sure if this is true of all shared ownership schemes, but I've heard some right horror stories.)
Tovarich EmmyNoether /
npub1tm…6dsh9
2024-08-30 19:33:53
in reply to nevent1q…wtqf
Author Public Key
npub1tmn02fw5zea73zu2dtnwz3c8v56xy6xs6q0glvupy3jevfzem2psv6dsh9Published at
2024-08-30 19:33:53Event JSON
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