The average person needing 'help to buy' earns £50,000

[AgaPanthers]

The property market in this country is fucked up for new entrants.

The average help to buy entrant earns twice the national wage

www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10862874/Average-London-Help-to-Buy-buyer-wage-80395.html

In London, three times as much.

What's the fix? 13 years of Labour brought about this situation and the Tories are hell-bent on making it worse.

The routes out would appear to be hyper-inflation (of prices and wages, we've already house price hyper-inflation) or massive house price falls - neither of which look very attractive.

Actually it goes further back than labour IMO.

Anyway the government could make renting more secure.

They could stop the ridiculous level of empty homes through tax breaks. Tax breaks for renting as well.

They could also get more homes built. Not sure what the delay is.

More homes, better regulation of the rental sector (and tax it so as to discourage individual landlords), tax second homes, interest rates back up to normal levels.

All this would cause a house price correction, but it has to happen really.

We bought our first house last year but are ok with the idea of prices dropping - I can't see any other way out of this mess.

My husband earns more and we can't afford a 3 bed ex authority house here and more concerning is that private rentals are increasing at a rate of nots too. I have visions of having to move into my mother's spare rooms

£200k buys you a 1-bed flat where I live. Ludicrous. I don't live in London either, but admittedly not far from it.

These people getting this 'help' were therefore on average earning in the top 10% (for the scheme as a whole) and top 2% (in London only).

In other words, the top 2%, the (supposedly) elite, need government aid in order to buy a house in London.

Fucked up country we live in.