Does anyone feel angry or feel that the government isn't doing enough to help furst-time buyers?

Question

We don't live in London, my partner and I have professional careers and yet the only kind of houses we can afford are tiny or in bad areas. Or there's the option of taking out a mortgage that will swallow all of our income and have us over a barrel until we're 70!

I'm not asking anyone to subside me or to "help" me buy a house. It's the governments job to provide basic things in life, such as the NHS, Police force etc. When i say the government isn't doing enough i mean that initiatives haven't been taken early enough or introduced capping. House prices have doubled in the last 4 years alone! Salaries haven't, so it's easy to tell how most of the people who disagree must have bought their houses before the extortionate rises, leaving young people priced out of the market while they sit there laughing.

Answer 1

I am in the U.S. and this is also a point for debate across the atlantic. Thing is, that most western govts. hesitate to interfere in "free market" economy. In some states in the U.S. the govt. has capped rental rates esp. In New York where you can still get rent controlled apts.

What some states are doing though is trying to offer tax abatements or credits to developers so that they can put up "affordable housing". (You might want to find out if there are similar projects in the U.K). However, the threshold to qualify for affordable housing is typically pretty high and if both you and your partner have F/T professional jobs; you probably make too much money to qualify.

The dramatic shift in real estate prices can be blamed on speculative buyers who drove housing prices higher than they would climb normally.

Answer 2

Other than force a recession,thus forcing down prices there is nothing that the government can do.
it is not the governments fault that property is so expensive.It is peoples compulsion with owning a house that is to blame.
I bought in the eighties when there was a similar price situation,everybody "had" to buy a house.
Then Interest rates went up,house prices came down.
The house market went into a downward spiral.I could only sell mine for 60% of the price paid.
Don't panic,sit back like I am doing,with a pile of cash-ready to pounce on cheap houses.

Answer 3

It is wise to accept whichever option presently allows you to own an affordable housing. Thereafter go on saving on the margin between old rent and current cost of servicing the mortgage of the new house,in a pool fund for switching to a better house when you can afford. Surely as your earnings go up , you will reach a stage where the mortgage service on a better house will be affordable and will leave a usable surplus. Have Confidence in Yourselves and go ahead and buy the one now available at affordable rate. Things will soon go your way.

Answer 4

Since when hasn't it been a jungle out there?

You work - if you don't get paid enough or treated badly you move on - you don't ask the Gov to make your company give you a pay rise???

"Or there's the option of taking out a mortgage that will swallow all of our income and have us over a barrel until we're 70!"

I'm afraid that's what the majority of us have to do !!

Answer 5

No, it's not up to the Government to help first time buyers, we can't expect them to save us all, like some massive Sugar-Daddy.

Stand on your own feet, do it for yourselves. The sense of achievement you get will be worth it. That's what we did and I can promise you, it does get better!

Answer 6

The governments job is not to make buying a house easy.

Answer 7

you mean that other taxpayers should subsidize your living arrangements? Because that's who funds the government.
Are you willing to help out by funding people who have even less adequate living quarters? with your tax dollars?

Answer 8

the goverment don't do enough to help anyone but themselves and lining their own pockets!!!