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MSE News: First-time buyers to get 20% discount on 'starter homes'

Former_MSE_Paloma
Former_MSE_Paloma Posts: 531 Forumite
I've been Money Tipped! Newshound!
in House buying, renting & selling
"The Prime Minister has today set out plans for a scheme offering 100,000 first-time buyers new homes with a 20% discount..."
Read the full story:

First-time buyers to get 20% discount on 'starter homes'

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Comments

  • sinizterguy
    sinizterguy Posts: 1,178 Forumite
    Communist nonsense.

    I guess I'll end up paying for this as well.
  • movilogo
    movilogo Posts: 3,235 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Supermarkets do it all the time.

    First hike the price by 30%. Then offer 20% discount.

    Election is coming so I expect more of these nonsense in coming months.
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
  • fairy_lights
    fairy_lights Posts: 9,220 Forumite
    ...but only if you're under 40.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    sinizterguy wrote: »
    Communist nonsense.

    I guess I'll end up paying for this as well.

    Looks like it's being funded by developers not tax payers. So instead of providing 30% affordable homes or paying CIL / S106 money to the council they can opt to give a discount to FTB instead.

    Another stupid gimmicky scheme. What's needed instead is just a huge house building program. Massively increase supply and the prices will sort themselves out.
    Changing the world, one sarcastic comment at a time.
  • sinizterguy
    sinizterguy Posts: 1,178 Forumite
    stator wrote: »
    Looks like it's being funded by developers not tax payers. So instead of providing 30% affordable homes or paying CIL / S106 money to the council they can opt to give a discount to FTB instead.

    Another stupid gimmicky scheme. What's needed instead is just a huge house building program. Massively increase supply and the prices will sort themselves out.

    Then the Prime Minister shouldn't be taking credit for it.

    If he does, it's still communist !!!!!!!!.
  • Typo22
    Typo22 Posts: 26 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    stator wrote: »
    What's needed instead is just a huge house building program. Massively increase supply and the prices will sort themselves out.
    Or reduce demand by controlling population size. Do it worldwide & stop man-made climate change too.
    Ian
  • sinizterguy
    sinizterguy Posts: 1,178 Forumite
    Typo22 wrote: »
    Or reduce demand by controlling population size. Do it worldwide & stop man-made climate change too.

    Are you volunteering to be the first of the population controlled?

    Or perhaps we should just start by nuking England from orbit?
  • daveyjp
    daveyjp Posts: 13,639 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    stator wrote: »
    Looks like it's being funded by developers not tax payers. So instead of providing 30% affordable homes or paying CIL / S106 money to the council they can opt to give a discount to FTB instead.

    Another stupid gimmicky scheme. Which demonstrates the PM hasn't a clue about the property development world

    Fixed it for you.

    In areas where the end value of the property isn't enough to cover the cost of the land and the construction costs, never mind s106, where does the 20% discount come from?
  • kinger101
    kinger101 Posts: 6,573 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    daveyjp wrote: »
    Fixed it for you.

    In areas where the end value of the property isn't enough to cover the cost of the land and the construction costs, never mind s106, where does the 20% discount come from?

    It will be a "notional" 20% discount, as these properties won't we available to the general public. They'll have "double rooms" which will be 9 ft by 9 ft, and "open-plan living", meaning living, dining and kitchen crammed into the same tiny space. Just look at any of the two-bed flats with "gifted deposits" built in Leeds, Manchester and Nottingham before the last crash. The reason they won't let people sell on for a decade is because otherwise it would be too transparent what the open-market value of these properties really was.
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    Beware the word scheme, as the person behind it is a schemer.

    If we need more homes to house millions of immigrants, just build them.

    The real problem is a small number of giant house builders restricting supply by controlling land banks.
    Been away for a while.
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