I ENTIRELY sympathise with the writer of Bleak future for first-time buyers (Bolton Evening News, Tuesday, October 12).

Indeed, I agree with his description of a housing racket. This is tantamount to capitalist bullying, where sellers exploit the situation to suit their own ends. What makes it worse is that it is legal, as is the excessive council tax that we have to pay.

As the writer states, successive governments have allowed this to happen. If I had my way, house prices would be pegged so they would be as affordable today as they were, say, five years ago.

Apart from the demand for houses being far too high, people like myself do not like developers exploiting this.

People of my generation may well be lucky and live in reasonable comfort for the rest of our lives. This I cannot say for the younger generations, who will have to face regressive changes such as working until 70 or having to live off a paltry pension.

I have a proverbial "nest egg" for my old age. I am angry that I could have used it to buy a house five years ago and seen its value treble. Still, that is immoral and would drag me down to the levels of property speculation.

I therefore feel penalised for not buying a house. Yet if more people were like me, the pressure first-time buyers are under would be much less.

B Howarth

Alexandria Drive

Westhoughton