How to solve the housing surplus...

[GRG55]

Why are we not surprised. New Labour indeed...

Brown Pledges Help for British Savers and Homebuyers

By Kitty Donaldson and Robert Hutton
May 14 (Bloomberg) -- ...As well as 100 million pounds ($190 million) to help first- time buyers on low incomes buy homes through shared-ownership plans, Brown said the government would spend 200 million pounds to purchase unsold new homes and rent them to poor tenants...
http://www.bloomberg.com/apps/news?p...d=agtQT3jCE1vc

[jk]

Re: How to solve the housing surplus...

this article makes me curious about the builders who are the current owners of these unsold new homes and who would be bailed out by these purchases, and even more curious about whether the builders are party contributors.

[touchring]

Re: How to solve the housing surplus...

The Singapore government actually does this, buying small apartments off the open market and renting it for nominal rent like $50 a month to old folks or disabled people.

[jtabeb]

Re: How to solve the housing surplus...

That is a great idea.

[GRG55]

Re: How to solve the housing surplus...

That is a great idea.

You fail to recognize that in the USA the government already owns a ton of housing units...through FHA, VA, FMHA and of course the illustrious duo of Fannie and Freddie [how many "homeowners with a Fannie mortgage actually "own" anything?]. It they started "buying" housing, how much of it would they be buying from themselves???

[jtabeb]

Re: How to solve the housing surplus...

Well you could give them/grant them to returning soldiers, sailors, airman, an marines. We USED to actually do that, you know. I think the practice went away after WWI, hence the "Bonus Army" Saga. Simple policy measures could prevent this and do some good to local communities and to our vets.