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The shared equity scheme

  • 04-05-2021 12:34pm
    #1
    Registered Users Posts: 5,621 ✭✭✭ MrMusician18


    Is the shared equity scheme one of the stupidest ideas to ever be proposed as a solution to the housing crisis? I cannot see how this scheme will do anything for supply but will increase prices across the board. What does that solve?

    It looks to me to just be welfare for developers. The only saving grace is that is relatively small at €75m.


Comments

  • Moderators, Social & Fun Moderators, Society & Culture Moderators, Regional North Mods, Regional West Moderators Posts: 81,470 Mod ✭✭✭✭ biko


    Sinn Féin has warned that the scheme, which is part of the Affordable Housing Bill, risks pushing property prices up further.

    The scheme aims to bridge the affordability gap for buyers, with the State paying up to 30% of the purchase price of a newly built house. This would be paid back over time, after a few years interest free.

    Yes, if the State pays some of your house the prices will go up.
    Another bubble that will burst and leave many in massive debt.


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