Affordable homes shortage: Government to reveal plans
The initiative, for England only, will begin in July and aims to build 16,000 new homes and create up to 32,000 jobs.
It is hoped that about 450,000 mainly affordable homes will be built by 2015, many of them on publicly-owned brownfield sites.
If this ends up building genuinely affordable housing (ie: people can afford to buy 100% of it with no borrowing deposits off family members etc) then it’ll be a good thing.
If it ends up building more unaffordable housing then it will almost be a waste.
There’s a great article in the Telegraph: Falling house prices, not rising Government intervention, are first time buyers’ best hope