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The government will abolish stamp duty for all first-time homebuyers on homes under £300,000 in a move that will save home purchasers up to £5,000, but the government's spending watchdog warned it could push up house prices. — Business Insider
Philip Hammond, the conservative Chancellor of the Exchequer, has announced stamp duty changes in the 2017 Budget that would abolish the tax for all first-time buyers on homes under £300,000. The move is seen as an effort by the ruling Conservative party to win over younger voters, many of whom... View full entry
Everyone knows the supply of new homes in the Bay Area is falling far short of job and population growth, but the number of existing homes being put up for sale is also near record lows in many areas. [...]
“The move-up market is pretty much frozen,” said Matt Fuller, an agent with Zephyr. “Even if you can do great on the sale of your property, you are terrified to enter the market as a buyer.” [...]
Inventory is also shrinking because post-foreclosure sales have dried up.
— sfchronicle.com
