It really is a daft idea.
House prices are still far too high on an average price to average earnings ratio.Many will still be saddling themselves with debts they can't really afford and when interest rates rise and the bubble bursts,negative equity will rear its ugly head again.
Our unhealthy obsession with house prices in this country really will end in tears and I find it so sad that young people cannot buy a house for an amount that doesn't crucify them financially.
House prices should be allowed to find their correct level over time and not be artificially stimulated by a crackpot scheme.
Do Governments never learn?
I write as a Tory voter!
Agree. One thing that has depressed me is a conversation I had a few years ago with a couple of friends who both earn above average wages but did not have any hope in securing a mortgage without outside help. This to me is pretty shit. Surely you should be able to buy, at the very least, a small property from earning good money? Otherwise what's the point?