Thursday 17 August 2017

Crippling taxes have stalled house builds

Ridiculous 'Rolls-Royce' rules on new homes are crucifying first-time buyers, writes Brendan Burgess

'If the lending restrictions were relaxed for everyone, then it would just push up the prices of all houses - newly built and second-hand. So the aspiring first-time buyer would be in a worse position' (Stock image)
'If the lending restrictions were relaxed for everyone, then it would just push up the prices of all houses - newly built and second-hand. So the aspiring first-time buyer would be in a worse position' (Stock image)

Brendan Burgess

Have we learnt nothing at all from our recent history?

We are still dealing with the wreckage from the housing and credit bubble and crash. More than 70,000 mortgage-holders are still in arrears despite the recovery in the economy and earnings.

Politicians and commentators are excoriating the banks for reckless lending during the boom while in the same breath they are criticising the Central Bank for setting responsible borrower standards for first-time buyers.

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