Question:
What will the money do? And will it reduce current extortionate house price?
Answers:
Its basically to build new houses, which should be sold at an affordable price to people, and also as council houses.
This should help with the house prices, they are currently so high because there are not enough houses to go around, especially with all the immigrants flooding into into the country. With so many people after a house, the owners can pick they price they want, so the house prices go up.
There should be a natural cap on house prices soon though as the interest rates go up, adding to mortgage payments. This should stop the house prices rising further, although unfortunately its not going to cause them to decrease, unless we go into a recession and people start getting their houses repossed.
The whole system is in a complete state at the moment, and its not something that can be solved quickly, its going to take many years. A lot of people are going to be going through their lives with out ever owning their own home.
i think it will be used to make more council housing which is a good thing-however who gets first choice of this housing is another matter
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