A lot has been said about the lack of housing and the access to acquiring it, and it has been a constant concern of recent governments.
Measures come and go, and here comes the “State guarantee” – the implementation of this measure would enable all young people who, due to a lack of personal capital to purchase a property and secure a loan, would finally be able to do so – and they are doing it!
However, there is no beauty without a catch… if we were already in a market with increasingly higher prices due to excess demand, the situation worsens with the access of a new group of buyers who could not afford it before.
“There is no beauty without a catch… if we were already in a market with increasingly higher prices due to excess demand, the situation worsens with the access of a new group of buyers.”
There are no perfect measures, nor anything that, by helping, doesn’t have a consequence, but it would have been advantageous if this had been launched simultaneously with a series of measures promoting construction and reducing its costs, such as a significant reduction in corporate tax (IRC) for companies and reducing VAT to the minimum rate – it wouldn’t resolve the momentary increase in demand, but in the long run, it would mitigate the marked difference between supply and demand.
We also found that this measure, although an excellent step to empower young people to make their purchase, still lacks some adjustments, particularly in coordination with banking institutions, which, for example, when issuing approval letters valid for 3 months, make it difficult or impossible to purchase in developments under construction.
We must acknowledge the willingness to change, do things differently, and think of solutions, and we know that it is always easier to criticize from the outside and after the fact, but it is our duty, both as citizens and as professionals, to point out and alert to what could be done to contribute to the stabilization and health of this sector.
