FirstBuy is waste of money to keep house prices high

The government’s FirstBuy scheme, launched last week with 100 builders, has left me frustrated.

The government is wasting taxpayer money to keep house prices artificially inflated so builders can achieve bigger profits.

Why not leave market forces to let prices fall to affordable levels?

Shared equity properties are dangerous for first-time buyers.

They are five or 10-year time bombs and buyers will suddenly realise they have to pay interest on the loan and the mortgage when their overvalued property has gone into negative equity.

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