Interesting. I am just wondering how it will work, as far as valuations concerned. In an over heated market the property could be sold well above its real value and vice versa. Somehow I get the feeling that buearocratic (meaning tons more qualifications and papers to sign) powers will overtake the selling and buying.
My opinion is based whenever the government had a good intention they always managed to stuff it up for the average person. For example if you prove who you are when open a bank account will sink the cash economy (Keating 1983 or 1984?). Now it is a nightmare to open a new account, but the cash economy is still well and alive. For the average person it is not better, but much worse. I am sure everyone has a good story about it.
But the intention is good, I am just a bit concerned about the practical execution and the real benefit of it for the consumer.
Tibor
My opinion is based whenever the government had a good intention they always managed to stuff it up for the average person. For example if you prove who you are when open a bank account will sink the cash economy (Keating 1983 or 1984?). Now it is a nightmare to open a new account, but the cash economy is still well and alive. For the average person it is not better, but much worse. I am sure everyone has a good story about it.
But the intention is good, I am just a bit concerned about the practical execution and the real benefit of it for the consumer.
Tibor
