Housing corporations may buy homes

Housing corporations are willing to buy up homes that are hard to sell because of the economic crisis and rent them out, the Telegraaf reports on Thursday.

The deal could cover houses costing up to €250,000 which could easily be rented out to starters on the housing market, the paper says.
The housing corporation’s umbrella group Aedes backs the idea and a number of corporations are already keen to get started.
The waiting list for rented accommodation has soared as young people find it hard to get a mortgage in the current economic climate, the paper says.
Sale of new homes down 70%
Meanwhile, the estate agents association NVM says the sale of new homes fell by up to 70% last month, compared with February 2008.
And preliminary figures show the sale of existing homes is down by 50%. In particular, more expensive houses are proving hard to sell.

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