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Subject: First time home buyers
Replies: 13 Views: 869

sephiroth 27.03.19 - 10:40am
Should the government help prospecting first time home buyers by giving out subsidies, a low-interest loan, etc, or just rent for years to come?

Or must they just go at it alone sponging, on relatives, friends, etc, hoping to get lucky?

* +

shadow27 27.03.19 - 10:46am
Buy a boat. * +

sephiroth 27.03.19 - 10:46am
Or just rent for many years to come? * +

sephiroth 27.03.19 - 10:54am
Eish, made a ditto. Edit too short. * +

tuckerx 27.03.19 - 11:02am
History shows, helping those not financially fit enough to own a home at the wrong time could turn into a disaster.

Picture a market where the housing price is skyrocketing and our nationals want to buy their homes. They receive a special loan with first and second mortgages from banks to own a house with zero down payment. And then the market starts correcting itself from a high level. now you have a bunch of people who end up owning a property with a market value below the size of the mortgage after house prices slump. You'd have people who end up giving up their homes to the bank.

There's no financial literacy here anyway, most people don't understand jacksh*t about how banking system works or how to invest their money or a proper plan to repay their loans.

Teach them how to fish first, give them free financial counselling before setting them up to dive/die into market. * +

freshdeadlyroses 27.03.19 - 11:03am
Why would you put a red door on a place like that.. * +

ladibud 27.03.19 - 11:12am

@ sephiroth - 27.03.19 - 10:40am
Should the government help prospecting first time home buyers by giving out subsidies, a low-interest loan, etc, or just rent for years to come?

Or must they just go at it alone sponging, on relatives, friends, etc, hoping to get lucky?

No. save for a deposit and apply for a home loan. saving can be difficult but if you xant age of to save or don't have the discipline to, then you really shouldn't own a house, that sh*t is expensive and requires discipline. * +

tuckerx 27.03.19 - 11:14am
Ok * +

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