UK - More messing about with the housing market

In the UK affordable housing in parts of the country is a big political issue. There are a number of factors involved including:

• A huge damand for housing in some parts of the country
• A shortfall of supply to meet that demand
• The failure of salaries to keep pace with housing costs
• An irrational belief that everyone has a right to own their own homes

The latest government boondoggle is to subsidise properties for first time buyers:

http://ift.tt/2iy0BrP

Quote:

Thirty areas across England are to receive funding from the £1.2bn "Starter Homes Land Fund" for new developments on brownfield sites. Buyers must be aged between 23 and 40 and will receive a discount of at least 20% below market value.

IMO it'll do no good. People buying these houses will move them on at full value in a short period leaving houses equally unaffordable for many people. IMO this is just fanning the flames of the UK housing market

via International Skeptics Forum http://ift.tt/2iukWju