Resisting that which is easy: Why economic health must outweigh lobbyists for first time buyers in the budget

There is something awful that might be about to happen, namely the current Government are considering a special type of loan for first time buyers in order to help them get onto the property ladder. It probably comes across like a contradiction, saying that ‘helping first time buyers is a bad thing’ when most of us feel that it is not, however, it is not so much the fact that first time buyers are doing anything wrong, more so, it is about flawed economic planning that will hurt generations of tax payers.

Property prices have not reached their market clearing level as of yet, what that means is that property is not selling at a speed and price that is conducive to that of a healthy market. Supply (at least for now) outstrips demand by quite some way, if we look at the current overhang as put forward by some lobbyists the number is 30,000 units (CIF), that is actually the number of properties that have not sold, it doesn’t mean it is the number that are empty. We would …

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