Monday, December 3, 2012
We own land! Give us money!
State urged to support first time buyers
GIVING support to first time buyers (FTBs) would ease the pressure on the hardest hit sector in the housing market and give a strong boost to the industry, economists from the Ernst and Young Item Club argue today. The respected analysts are calling on George Osborne to reinstate the stamp duty holiday for FTBs on houses under £250,000, a programme which expired in March. Alternatively the report suggests expanding the First Buy home equity scheme, again giving FTBs a better chance of getting on the ladder.
Posted by mark wadsworth @ 10:48 AM (1305 views)
5 thoughts on “We own land! Give us money!”
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drewster says:
Such disingenuity. Cutting stamp duty for FTBs is (ceteris paribus) a gift to STBs, because the incidence of stamp duty falls upon the seller. As for the FirstBuy scheme, it’s actually about helping builders sell their homes, not so much helping buyers.
The whole system is rigged to extract as much money as possible from non-homeowners, and hand it over to existing property owners.
mark wadsworth says:
The STB’s and “home builders” [sic] own land, Drewster, so what do we give them?
dill says:
Oh! The British – always looking for cannon fodder. Go over the top and be shot by the enemy, or back off and be shot by your own for cowardice.
Wise up. The enemy lies within.
icarus says:
Why bother when all that’s required to solve ‘the housing problem’ is to build ‘beautiful’ houses on another 2-3% of land. Nick Boles said so.
ontheotherhand says:
To be fair to E&Ys PR department, they know what headline to feed the papers if they want their ITEM club mentioned. In fact most of the words in their press release are about other things that City AM finds too boring to mention. http://www.ey.com/UK/en/Newsroom/News-releases/12-12-03—ITEM-Club-calls-for-investment-in-shovel-ready-infrastructure-projects