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Generous new scheme for 1st time buyers

Comments

  • #2
    topper_harley2
    Registered Users, Registered Users 2 Posts: 537 ✭✭✭topper_harley2


    Without even opening the link, you know the words "first time buyer" and "scheme" will just result in quick and painful increase in house prices.


  • #3
    BrokenArrows
    Registered Users, Registered Users 2 Posts: 7,501 ✭✭✭BrokenArrows


    topper_harley2 wrote: »
    Without even opening the link, you know the words "first time buyer" and "scheme" will just result in quick and painful increase in house prices.

    Exactly.

    What i find funny is this..
    Finance Minister Michael Noonan is also wary about ensuring the scheme will not interfere with either the supply of, or demand for, housing.

    If you make it easier for people to buy property then the natural and unavoidable result is an increase in demand. And since the supply doesnt exist then the prices will increase. Ultimately negating any help that the scheme is designed to give.


  • #4
    robp
    Banned (with Prison Access) Posts: 1,934 ✭✭✭robp


    topper_harley2 wrote: »
    Without even opening the link, you know the words "first time buyer" and "scheme" will just result in quick and painful increase in house prices.

    In fairness, although most people want cheaper housing increasing the cost housing might increase supply.


  • #5
    BrokenArrows
    Registered Users, Registered Users 2 Posts: 7,501 ✭✭✭BrokenArrows


    robp wrote: »
    In fairness, although most people want cheaper housing increasing the cost housing might increase supply.

    But even if developers decided today that they were going to build 300000 houses across the country it will be years before it is finished and in the mean time the prices go crazy. The when the supply finally matches or exceeds demand the prices crash.
    Exactly what happened years ago.


  • #6
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,375 CMod ✭✭✭✭Nody


    robp wrote: »
    In fairness, although most people want cheaper housing increasing the cost housing might increase supply.
    There was an article in Indy about a month ago breaking down the cost and over half the cost of a new house in Dublin has nothing to do with the building itself and is purely permissions, taxes etc. So there's room to stream line things here but instead of fixing root cause issues let's give a tax break to first time buyers (which will drive up prices and lock them in to their houses when the prices goes down).


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