A 2.5 per cent deposit is a trap, not a ladder
Andy Burnham's Your First Home scheme gets the loan right and the deposit wrong. The Budget should fix it before young buyers pay the price.
MORDAZ
/moɾˈðas/adj.biting, scathing — of criticism, and of the person writing it
SportPoliticsEconomics
Written by Jenson Ives
Latest
Burnham's boldest promise should be the dullest one
Britain drifted because its governments never lasted long enough to finish anything. The new prime minister should promise to keep his ministers where they are.
Manchester City lost. So did the Premier League
It took eight years to reach a verdict on Manchester City. The next case this size belongs with a regulator that can demand the evidence on day one.
The archive
a smaller deposit opens the housing ladder
it opens a trapdoor into negative equityEconomics30 Septbritain drifts for want of big ideas
it drifts because nobody stays long enoughPolitics29 Septthe verdict shows the system works
eight years shows it does notSport29 Sept
Nothing filed under that beat yet.
Why MORDAZ
Mordaz is the Spanish for biting — the adjective reserved for criticism that leaves a mark. It describes the writing, not the subject, which is the only thing that could honestly cover a Tuesday budget and a Saturday result under one name.
Most bad arguments survive because nobody says them out loud. They sit underneath the debate as an assumption everyone has agreed not to examine. So every piece here starts by writing the assumption down, plainly and fairly, and then explains what is wrong with it. If the received view turns out to be right, there was no piece to write.
Jenson IvesGet in touch