'Let's have a building society to help young people own homes' -Richard C. de Castro
So said social commentator and television talk show host Richard C. de Castro during his Speak Your Mind show aired on Saturday October 10, 2015 on JTV Live.
"We have to look at providing affordable homes for young people in the territory and I think I have a way forward on this. It is to form a building society and use it to afford young persons access to the various things that go along with a home such as professional services, financing, advice, contractors' lists...the whole works," he said.
He said if persons go directly to real estate agents they will be told that the average home today is about $500,000.
"That is not a realistic way for our young people to look for a home at this time. Let us put our heads together ladies and gentlemen and let us give the young people some good advice and save them the hassle," said de Castro.
He suggested that people discourage the current trend which is to get a car for four years and have to pay back the bank with interest.
"Let us encourage building on a solid foundation...purchase a piece of land, get a mortgage," he said.
Noting that the economy may not be doing as well as some people might think, de Castro believes that there is need to look at enabling young people to be more prosperous.
He said some of the territory's young people are missing out on the Virgin Islands' dream of getting a good job and owning a home.
"Even though they went to university and have a four year degree and earning a [reasonable] salary they still are not being able to have that Virgin Islands' dream," said de Castro.
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14 Responses to “'Let's have a building society to help young people own homes' -Richard C. de Castro ”
YOu aint read the part where "Treetops" said young people should find AFFORDABLE vehicle ?? I for 1 is not gonna take up with these motor dealers and fling $35k + to them for a vehicle that will drop 10k as soon as its driven off the lot !!! ... I'm here patiently gathering at least 4k... and seek one of those second hand jeeps on BVI Cars and Parts .... No long term straineous commitment for me !!!
Artificial grass