News from the UK:
The news of Labour party scrapping first time buyer stamp duty for property less than 300,000 gbp is interesting, BBC has a bullet point list of the pledges for housing by the parties. Wondering if a cap increase on price of properties (say around triple/quadruple the inflation rate) which were bought off plan and re-sold (flipped) within 2 or 3 years by investors after the property’s completion, could protect property prices from getting inflated. The market is to do with supply and demand but maybe the market needs a cap/stability for first time buyers instead of first time buyer schemes which effectively helps leverage first time buyers to buy from investors determining the price. Investors would dislike this idea but they will still make some profit on increase in price due to demand and first time buyers will get better value for their hard earned cash.
My free coffee day:
In the evening went through the business idea and specifications with my co-founder. We think we are ready to start to code on Saturday.