Comments by "Piccalilli Pit" (@piccalillipit9211) on "First-Time Home Buyers Don’t Need Support!" video.

@cheshireket3132 - Yeah but announcing a target for new homes to be built ALSO does not work, as we found out in the UK. Cos developers and the local community NIMBY's will individually pick off every development and only allow a small number of expensive houses to be built so as to keep property prices up / minimise new families / traffic as they did in the UK. You have to change the law to make the building os small affordable homes a LEGAL requirement. Once you have built 3 small homes you can build 1 big home. NO big houses until you have built 3 small ones. You cant even start construction on large single-family houses until you have completed the 3X number of small houses and sold them to first-time buyers. Trust me - the UK has been trying to solve this problems for 20 years and NOTHING has worked.
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MESSAGE FROM BRITAIN the $25k help - yeah they did that here and it made things WAY worse...!!! Suddenly thousands of people have the deposit but there are NO MORE HOUSES so the price of a starter home went up WAY WAY more than the $25k. The way to solve the problem - make it the law homebuilders have to build 3 loc cost 900 sqft starter homes for every 2,500+ Sq ft home they build.
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@cheshireket3132 My sister got planning for 6 small apartments in one block to look like one large Georgian house on some land she owned, cos the kids in the village need houses. She sold it. The developer immediately put in for change of planning and built a 3 story 6 bedrooms £1.2 million single-family house on it. THEY DONT WANT TO BUILD SMALL HOMES cos its way more profitable to build large ones.
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@cheshireket3132 Yeah it sold before it was finished. The average house in my sister's North Yorkshire village is not about £750k - that $988k. In 1992 she paid $112k for a large 3-bedroomed house with stables, paddock and 5 acres of land. And YES American Private Equity is buying up houses in the village now - Stockbridge Capital has bought about 10 houses and converted them into luxury AirBnB's. We have written to the UK Housing Minister about it. The houses dont even go on the market - the real-estate agent just calls the PE company and they buy it. A Canadian PE company has bought out several of the farms in the village.
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