Monday, April 4, 2011
Rearranging deckchairs on the Titanic.
A new and permanent reform of stamp duty would mean that the tax would be paid by sellers and not buyers. The call for reform has come from HSBC which found that 85% of non home-owning young adults (18 to 34-years-old) want to own their own home, but only 19% of the 85% expect to be able to do so within the next five years. And almost half â€“ 45% of aspiring home-owners â€“ do not ever expect to be able to purchase. In its report, First Time Buyers: Roadblocks and Ways Forward, HSBC found that the younger, 18 to 24-year-old age group was the more optimistic.