Give young homebuyers a fighting chance

According to the latest Census, 250,000 new families were formed in the past year.

All are interested in acquiring homes by whatever means — rented, social housing or by obtaining mortgage. Listening to RTÉ on house prices (Jan 18) “there is no such thing as waiting for a bottom line to a property market”, I believe it’s all a question of value-for money.

Most young people intent on setting up home know little and care less about the property bubble of nearly four years ago.

If they are interested in a home now and prepared to take the plunge, as ambitious people always did, based on their means and what money they can afford, things were never better.

Situations are no different than in the past — based on current earnings and prevailing property prices, the opportunities are unlimited.

Waiting for a further drop next year, while purchasing costs increase and incomes most likely remain static, does not make sense.

The real uncertainty for young property buyers is deliberately created by predictions of gambling economists and greedy capitalists manipulating the market for personal gain.

Believe me there were never as many “loaded sharks”, including bankrupts with decoys, sitting in the shadows, ready to grab value-for-money houses, like foxes watching for newborn lambs.

The Government should demolish unsightly ghost estates and unfinished developments immediately, to ensure young house buyers have a clear playing field to acquire quality homes.

They should also make the lending institutions act accordingly by meeting homebuyers’ demands, money-wise, in an honest, realistic manner.

James Gleeson

Thurles

Co Tipperary