this post was submitted on 29 May 2024
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That makes sense. The cost of housing is rising faster than pretty much anything else, so it's inevitable that any well intentioned scheme to help first time buyers will ultimately become completely unaffordable unless something else changes. Thanks! Such schemes exist in my country, so I'm curious now to look up some of the reasoning behind those schemes and see how they argue around or attempt to compensate for this.
These schemes are very appealing to politicians because they get to have their cake and eat it too, at least for a short time. Their solution will work for a few years and they get to please both the homeowners and homebuyers. They will no longer be in politics by the time housing has doubled or quadrupled in cost, so someone else will take the blame and they can live their comfortable retirement telling everybody that back in their day, they successfully fixed the problem, but contemporary politicians aren't as smart or skilled as they are.