this post was submitted on 11 Apr 2024
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I'm not sure who this helps: the same buyers who want to buy a home can't save for retirement, either.
This seems like something being floated to a middle class that doesn't really exist any more.
Our governments are willing to do anything--anything--about housing except for building more of it directly, or punitatively taxing speculators and investors that hoard it. You know, the two things that would most help people. Or rather, would help people who aren't investors or developers.
So true. This just allows you to give more of your money to a bank over your lifetime. People almost always end up spending as much as they possibly can on a house, usually because they're in competition with a big cohort with similar income in any given area. This will just raise prices as people can get bigger loans.
As a current homeowner, I'm ok with prices going down if more owner-occupiers are actually getting into the market (and ending up as owners not just tenants to the bank). But as long as speculators and corporations can sweep in and steal the deals these lame policies just feel like more corruption.