Do We Really Need Another Government Scheme?

gatewaytoindiaI must admit to being wary of government schemes to “boost” home lending, home construction and in general the demand side of housing.

It may give a boost to some, but those who don’t get the money are often disadvantaged – with house prices rising because of the scheme.

Those who are underwater on their mortgage will certainly be supporting rising house prices. However expensive housing is not such a great thing overall. Affordable housing for most allows people to get a good start in life and save for other things, rather than putting just about every cent they earn back into housing costs.

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