Probably going off topic a bit here but it is all part of same issue at this stage.
The only sensible article I read suggested the government should intervene to increase home purchases i.e. allow people access to credit who can't get it now due to banks hoarding cash. The suggestion was that the government should not encourage new building but it would assist those people who already want to buy but borrowing restrictions too tight now. This would also use up the surplus property already built. Maybe this is what is planned by assisting first time buyers.
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