Tuesday, Dec 19, 2017

Seems that giving money to an uncompetitive industry raises prices AND reduces quality?

BBC: The new homes 'uninhabitable' after less than a year

"Karen bought the property from housebuilder Bovis for £325,000 in December 2016, under the government's Help to Buy scheme.
After numerous complaints to the company, she eventually hired an independent surveyor to assess the house - who uncovered major structural issues."
Why on earth the government is giving this industry a penny of taxpayers' money is a mystery. Judging by the sums that the management and shareholders are trousering, these companies' investments in elections have paid off handsomely though!

Posted by mombers @ 02:06 PM (6284 views) Add Comment


1. jack c said...

I think this lady's expectations are very unreasonable, paying a paultry £325K for a house in Banbury which by comparison wouldn't get her an ex council flat in London ! You get what you pay for as they say and then she's hassling the poor builder Bovis who's profits will be wiped out with the snagging list she's generated.If only she had put her money into Bitcoin in December 2016 instead of that wretched house she would be one of the richest women on the planet by now (TIC)

Wednesday, December 20, 2017 02:14PM Report Comment

2. icarus said...

But if she went in at Sunday lunchtime she'd be down 17% by now. Has another financial bubble burst?

Thursday, December 21, 2017 11:33AM Report Comment

3. jack c said...

Help to Buy simply adds to an already dysfunctional UK residential property market.

Thursday, December 21, 2017 03:36PM Report Comment

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