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Originally Posted by martyh
they will have to build a new house for everyone that is sold .At least that's what is supposed to happen in the original idea
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It's not 1 for 1. there's a clause where only if a set amount are sold and I think it's 1 to every 16.
there's a link I saw somewhere.
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I also fail to see how encouraging people to buy houses in such a uncertain job market is going to be beneficial to anyone .I foresee lots of problems with people taking out 95% mortgages to buy new build houses ,they can very quickly end up in negative equity which won't be a problem if they keep their current wage level and don't move
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The house will be bought by those who rent them out at the tax payers expense (housing benefit)
a lot of them will be repossessed by the banks again. due to the buyer not in the position to buy in the first place financially.