rbrinkler Posted April 4, 2009 Share Posted April 4, 2009 Hi everyone I am an Isle of Man student currently studying at UCLAN university. At present i am writing a dissertation into first time buyers/affordable housing, I have now got to the point where i need the publics view and also mainly the first time buyers comments on the scheme. There will be questions also, which will be directed towards various industry members and government officials which could be created by the responses. Please leave any responses below and it would be excellent if any first time buyers or people who have used the first time buyers scheme answer the questionairre attached. Thanks all Rich. Questions_to_first_time_buyers.doc Link to comment Share on other sites More sharing options...
Dave Hedgehog Posted April 4, 2009 Share Posted April 4, 2009 I was on it but now earn over the limit. That'll teach me to better myself Link to comment Share on other sites More sharing options...
rbrinkler Posted April 4, 2009 Author Share Posted April 4, 2009 I was on it but now earn over the limit. That'll teach me to better myself haha im sure i could still use your input dave Link to comment Share on other sites More sharing options...
keyboarder Posted April 5, 2009 Share Posted April 5, 2009 Roughly how long where you on the FTB register for and in your opinion how do you feel the points system worked for yourself? Should read " Roughly how long were you............ Do you feel there is enough First time buyers houses being provided in the main areas on the island? Do you feel there are enough first time.................... Small points granted, but might just gain a few brownie points from an examiner sick of the declining standards of modern dissertations. You might also question the wisdom of artificial manipulation of the market, and whether this serves any useful purpose beyond the shifting of otherwise surplus stock, and thus the subsequent enrichment of private construction companies. Link to comment Share on other sites More sharing options...
pongo Posted April 5, 2009 Share Posted April 5, 2009 You might also question the wisdom of artificial manipulation of the market, and whether this serves any useful purpose beyond the shifting of otherwise surplus stock, and thus the subsequent enrichment of private construction companies. Agreed. First time buyer schemes, though politically populist, may potentially increase the price of properties at the starter end of the market making it more difficult for people to buy them unless they can get government support. The schemes may therefore be potentially self defeating. And, as you say, developers may like building first time buyer properties, especially when the market is otherwise slow, since they represent a more or less guaranteed sale. Some would say that it would be much better to not artificially support the housing market. Link to comment Share on other sites More sharing options...
thesultanofsheight Posted April 5, 2009 Share Posted April 5, 2009 You might also question the wisdom of artificial manipulation of the market, and whether this serves any useful purpose beyond the shifting of otherwise surplus stock, and thus the subsequent enrichment of private construction companies. Agreed. First time buyer schemes, though politically populist, may potentially increase the price of properties at the starter end of the market making it more difficult for people to buy them unless they can get government support. The schemes may therefore be potentially self defeating. I'd agree with that too. Maybe Rich you could also chart the rise and fortunes of one of the companies that was the original benefactor of the first IoM government first time buyer schemes in the late 80s and early 90s. How to turn 10 blokes and a transit van into a multi million pound business in 10 years from a property market where you had options on virtually every piece of land that the government should have bought in the first place, and then keep property values artificially high by getting the government to underwrite first time buyer schemes that gave money to people who couldn't afford to pay the high market rates without assistance. Link to comment Share on other sites More sharing options...
Pragmatopian Posted April 5, 2009 Share Posted April 5, 2009 Agree with the earlier posts - government subsidies for first time buyers are not a great idea. Far better to use broader regulatory measures to prevent property prices reaching a level where subsidies are needed to make them affordable Link to comment Share on other sites More sharing options...
j2bad Posted April 5, 2009 Share Posted April 5, 2009 Agree with the earlier posts - government subsidies for first time buyers are not a great idea. Far better to use broader regulatory measures to prevent property prices reaching a level where subsidies are needed to make them affordable Do you have a time machine then? as you can't prevent something that has already happened. Link to comment Share on other sites More sharing options...
Pragmatopian Posted April 6, 2009 Share Posted April 6, 2009 Agree with the earlier posts - government subsidies for first time buyers are not a great idea. Far better to use broader regulatory measures to prevent property prices reaching a level where subsidies are needed to make them affordable Do you have a time machine then? as you can't prevent something that has already happened. You can't change the past, but going forward the Isle of Man government (and the UK government, and the US government) should seek to deflate the existing housing bubble and prevent new ones from inflating so that housing is affordable for first time buyers on an ongoing basis. I don't believe it is the role of governments to subsidise home ownership in such a distorting way, even if a lack of regulation on their part has contributed to the adverse conditions in the first place. Link to comment Share on other sites More sharing options...
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