A chara, - I am a first-time buyer and a participant in the shared ownership scheme operated by Dublin Corporation. During the week I was negotiating with an estate agency over the purchase of my a property.
As a result of Mr McCreevy's announcement on Thursday of a change in stamp duty on secondhand properties for first-time buyers, the negotiations have collapsed. The vendor has decided to re-show the property in an attempt to get a higher price. Undoubtedly the proceeds received will increase as first-time buyers now have more disposable income.
The end result is the same: investors get richer, house prices spiral upwards, the first-time buyer gets no home and the Exchequer suffers no financial loss.
Well done, Charlie. - Is mise,
Carol Scott, Dollymount Park, Clontarf, Dublin 3.