First Time Buyers' Homebuy Scheme Ridiculed As A Failure By The Lib Dems

[Converted Lurker]

First time buyers' HomeBuy scheme ridiculed as a failure by the Lib Dems

The Government's £100 million scheme to help first-time buyers has sold only 451 homes since it started in 2006, according to figures obtained from the Liberal Democrats. In a housing policy paper to be debated at the Party's Spring Conference this weekend, the Liberal Democrats will argue for the multi-million pound scheme to be replaced with Government-backed equity mortgages...

The paper Homes for All: Action to Tackle the Housing Crisis will set out how the Party would build an additional 1.3 million affordable homes to buy and rent over the next decade, whilst equity mortgages would ensure the homes remained affordable after their first resale.

http://firstrung.co.uk/articles.asp?pageid...&cat=44-0-0

[Bingley Bloke]

The only true solution is for house prices and wages to be correctly aligned. Anything else is contrived and false and results in people paying for a whole house but only owning part of one... Or Having to pay the price that two or three houses should be just to own one. If the process of achieving correct wage+house price alignment is extremely painful then governments should see that as a lesson not to let such a colossal misalignment develop again. The contrived schemes being talked about by all of the political parties will only perpetuate the state of wrongness.

[Leonard Hatred]

All schemes of this type are pathetic attempts to interfere with the free market and buy votes, with the added hope of keeping prices up at unsustainable levels.

House prices rise and fall. If you can't afford it, wait.

[The Generation Game]

First time buyers' HomeBuy scheme ridiculed as a failure by the Lib Dems

The Government's £100 million scheme to help first-time buyers has sold only 451 homes since it started in 2006, according to figures obtained from the Liberal Democrats. In a housing policy paper to be debated at the Party's Spring Conference this weekend, the Liberal Democrats will argue for the multi-million pound scheme to be replaced with Government-backed equity mortgages...

The paper Homes for All: Action to Tackle the Housing Crisis will set out how the Party would build an additional 1.3 million affordable homes to buy and rent over the next decade, whilst equity mortgages would ensure the homes remained affordable after their first resale.

http://firstrung.co.uk/articles.asp?pageid...&cat=44-0-0

Has the government spent the whole £100m?

They could have just bought FTB's 451 average (assuming £180k each) homes for £81.18m!