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More Homes for First Time Buyers

Submitted on Tuesday 6th December 2011

Published on Friday 9th December 2011

Current status: Closed

Closed: Sunday 9th December 2012

Signatures: 12

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More Homes for First Time Buyers

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It’s time for the government to stop building and start freeing up some space. Housing prices have been pushed up by demand but in the big squeeze it is the richest that are cashing in on the misfortune of the middle and lower classes.

It’s time for the government to stand up for the working class and start restricting the amount of property any one person can own i.e. 5 houses, there needs to be a restriction on the amount of profit that can be made i.e. 20% above the mortgage repayments or 0.5% of the value of the property. Say the mortgage of a 4 bedroom £200,000 house has been paid for then the rental price should only be £250 which is £1000 for the whole house. Landlords should also own at least 50% of a property before it can be rented out.

These measures could free up thousands of properties and bring down the price of the housing across the board there would also be an increase in the amount of money in the banking system.

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