Bbc Look East....

[TheCountOfNowhere]

Did anyone see BBC look east last night, after the main news at 10 ?

I was shocked and very angry to see a totally biased report from the BBC reporter on Luton Council who are now giving giving 50% of a 10% deposit for first time buyers to get on the market.

The reported even said the market was buoyant and said something like getting a 100K mortgage would only cost you 325 quid a month, half of the price of renting !!!!

My countess had to calm me down.

The best bit was....councils all round the country are expected to follow suit and roll out this scheme.

I for one will not be paying my council tax when they do.

This is obscene.

[Bloo Loo]

Did anyone see BBC look east last night, after the main news at 10 ?

I was shocked and very angry to see a totally biased report from the BBC reporter on Luton Council who are now giving giving 50% of a 10% deposit for first time buyers to get on the market.

The reported even said the market was buoyant and said something like getting a 100K mortgage would only cost you 325 quid a month, half of the price of renting !!!!

My countess had to calm me down.

The best bit was....councils all round the country are expected to follow suit and roll out this scheme.

I for one will not be paying my council tax when they do.

This is obscene.

100K gets yuo a single roomed maisonette and drunkard neighbour.

people pay £650 per month to rent this?

[stuckmojo]

If you are familiar with Luton - I lived there for 3 years - you can only imagine which sort of people will get this help.

You only need to look at the councillors...

Shocking, really.

[Democorruptcy]

Did anyone see BBC look east last night, after the main news at 10 ?

I was shocked and very angry to see a totally biased report from the BBC reporter on Luton Council who are now giving giving 50% of a 10% deposit for first time buyers to get on the market.

The reported even said the market was buoyant and said something like getting a 100K mortgage would only cost you 325 quid a month, half of the price of renting !!!!

My countess had to calm me down.

The best bit was....councils all round the country are expected to follow suit and roll out this scheme.

I for one will not be paying my council tax when they do.

This is obscene.

I've mentioned this sort of thing a few times

http://www.housepricecrash.co.uk/forum/index.php?showtopic=169240&view=findpost&p=3161772

http://www.housepricecrash.co.uk/forum/index.php?showtopic=165526&view=findpost&p=3031083

[TheCountOfNowhere]

I've mentioned this sort of thing a few times

http://www.housepricecrash.co.uk/forum/index.php?showtopic=169240&view=findpost&p=3161772

http://www.housepricecrash.co.uk/forum/index.php?showtopic=165526&view=findpost&p=3031083

I know you have...but the reporting on the BBC was truly shocking, they will stop at nothing to keep the ponzi going.

It was basically an house selling/EA advert..

[TheCountOfNowhere]

I've mentioned this sort of thing a few times

http://www.housepricecrash.co.uk/forum/index.php?showtopic=169240&view=findpost&p=3161772

http://www.housepricecrash.co.uk/forum/index.php?showtopic=165526&view=findpost&p=3031083

I know you have...but the reporting on the BBC was truly shocking, they will stop at nothing to keep the ponzi going.

It was basically an house selling/EA advert..

I'm so incensed i've submitted a formal complaing:

"Full complaint:

I was shocked while watching BBC look east last night at the bias reporting regarding a story about Luton council gifting a 5% to first time buyers to buy a house. To me, the report look liked an advert for the housing market and estate agents. The reporter actually implied it was better to buy a house than report, half the price I think they said. This is not true, you can rent a one bed flat in Luton for £325 pcm, e.g. http://www.rightmove.co.uk/property-to-rent/property-20534607.html There was no mention of the historically low interest rates and what will happen when they go to 5%, or 10% for that matter. No mention of the over-heads of owning or the flexibility of renting either. The reporter even said the housing market was booming, which is certainly is not, which can be verified by a quick search on the land registry database. Also, the main point they have missed is the fact that house prices have collapse 20% since 2007 and are continuing to fall and will continue to fall, anyone buying now is a first class mug. It is not the BBCs job to persuade people to commit financial suicide nor is it your job to promote estate agents and the failing housing market. I would appreciate if your reporters would do a follow up report showing the true state of the housing market and the benefits of renting over buying."

I am outraged...still, thankfully Greece is collasping which is keeping me amused.

Edited November 2, 2011 by TheCountOfNowhere

[Democorruptcy]

I know you have...but the reporting on the BBC was truly shocking, they will stop at nothing to keep the ponzi going.

It was basically an house selling/EA advert..

I'm so incensed i've submitted a formal complaing:

"Full complaint:

I was shocked while watching BBC look east last night at the bias reporting regarding a story about Luton council gifting a 5% to first time buyers to buy a house. To me, the report look liked an advert for the housing market and estate agents. The reporter actually implied it was better to buy a house than report, half the price I think they said. This is not true, you can rent a one bed flat in Luton for £325 pcm, e.g. http://www.rightmove.co.uk/property-to-rent/property-20534607.html There was no mention of the historically low interest rates and what will happen when they go to 5%, or 10% for that matter. No mention of the over-heads of owning or the flexibility of renting either. The reporter even said the housing market was booming, which is certainly is not, which can be verified by a quick search on the land registry database. Also, the main point they have missed is the fact that house prices have collapse 20% since 2007 and are continuing to fall and will continue to fall, anyone buying now is a first class mug. It is not the BBCs job to persuade people to commit financial suicide nor is it your job to promote estate agents and the failing housing market. I would appreciate if your reporters would do a follow up report showing the true state of the housing market and the benefits of renting over buying."

I am outraged...still, thankfully Greece is collasping which is keeping me amused.

After seeing your "5% or 10%" interest rate they will have filed your complaint in the tray marked "insurgents".

[Georgia O'Keeffe]

this seems deserved for disgustingly stabbing Margaret Moran in the back, the way she had turnt the place around from a shthole to what internationally is now known as Monaco Bretagne only to be ruthlessly thrown to the lions is dispicable

[Downside]

I used to live in Dunstable which is next to Luton and worked in Luton for 2 years. I wouldn't want to live there if they gave me a house. The place is a dump and anyone who needs to be gifted 5% deposit could only afford to live in the poorer areas.

I would sooner live in a box under a bridge than a house in Luton.

I've even made a vow to never work in Luton again such is my hate for the place.

[TheCountOfNowhere]

After seeing your "5% or 10%" interest rate they will have filed your complaint in the tray marked "insurgents".

They BBC should be ashamed at this.

The council chiefs should be locked up for using council tax payers money to support the banks/housing scam.

I doubt it will work though.

[Democorruptcy]

They BBC should be ashamed at this.

The council chiefs should be locked up for using council tax payers money to support the banks/housing scam.

I doubt it will work though.

They have a good list of councillor's financial interests at Luton, assuming it's accurate and other things aren't in the names of spouses etc

http://www.luton.gov.uk/internet/council_government_and_democracy/your%20local%20councillors/register%20of%20councillors'%20interests/elected%20councillors

[TheCountOfNowhere]

They have a good list of councillor's financial interests at Luton, assuming it's accurate and other things aren't in the names of spouses etc

http://www.luton.gov.uk/internet/council_government_and_democracy/your%20local%20councillors/register%20of%20councillors'%20interests/elected%20councillors

Interesting:

Quite a few have 2 houses listed, some have information not available, but what strikes me is the number that have some affiliation to Luton airport !!!! That doesnt seem right somehow...they should be affiliated to the people who vote for them.

[Bloo Loo]

Interesting:

Quite a few have 2 houses listed, some have information not available, but what strikes me is the number that have some affiliation to Luton airport !!!! That doesnt seem right somehow...they should be affiliated to the people who vote for them.

indeed, everything they support should be in Plane sight.

[TheCountOfNowhere]

here's a ink to the locak council's webpage on the matter:

http://www.luton.gov.uk/internet/references/news/lloyds%20tsb%20and%20luton%20borough%20council%20help%20local%20buyers%20secure%20their%20first%20home

"Councillor Tom Shaw, Portfolio Holder for housing in Luton, said: “I’ve spoken to many local people who have been unable to get onto the property ladder because of the large deposits usually required. "

I think you will find the price is the issue.

[Bloo Loo]

here's a ink to the locak council's webpage on the matter:

http://www.luton.gov...%20first%20home

"Councillor Tom Shaw, Portfolio Holder for housing in Luton, said: "I've spoken to many local people who have been unable to get onto the property ladder because of the large deposits usually required. "

I think you will find the price is the issue.

nonsense, the price is irrelavent if you can financialise the product.

[leicestersq]

here's a ink to the locak council's webpage on the matter:

http://www.luton.gov.uk/internet/references/news/lloyds%20tsb%20and%20luton%20borough%20council%20help%20local%20buyers%20secure%20their%20first%20home

"Councillor Tom Shaw, Portfolio Holder for housing in Luton, said: “I’ve spoken to many local people who have been unable to get onto the property ladder because of the large deposits usually required. "

I think you will find the price is the issue.

All the subsidy will do is push up prices by the amount of the subsidy, leaving buyers with the same amount of money to find, sellers richer, and council tax payers worse off by a greater amount due to the costs of administering the scheme falling on their shoulders.

It would be cheaper just to give every seller 2500 quid.

Edited November 2, 2011 by leicestersq

[TheCountOfNowhere]

nonsense, the price is irrelavent if you can financialise the product.

Tells that to the collapsed banking system.

Price is irrelevant when you're stupid.

[tahoma]

It would be cheaper just to give every seller 2500 quid.

It would be cheaper to leave the housing market the hell alone and let prices find their own level, within an actual functional market rather than one where perceived prices are high due to tiny volumes of sales to the last of the greater fools.

One of my target streets has 8 houses for sale; four of them have been on for over two years.

[TheCountOfNowhere]

It would be cheaper to leave the housing market the hell alone and let prices find their own level, within an actual functional market rather than one where perceived prices are high due to tiny volumes of sales to the last of the greater fools.

One of my target streets has 8 houses for sale; four of them have been on for over two years.

!!! HERE HERE !!!!

My target street has 6 houses...1 up for two tears 4 up for 1 year, 1 up for 7 months.

I offered on 1, 200K under asking ( up for a year and in line with what the land reg says it's worth ).

all of them on at 2007 levels despite a 20% fall in Northampton.

Some mug might buy it off them, not me though,

Edited November 2, 2011 by TheCountOfNowhere

[Democorruptcy]

here's a ink to the locak council's webpage on the matter:

http://www.luton.gov.uk/internet/references/news/lloyds%20tsb%20and%20luton%20borough%20council%20help%20local%20buyers%20secure%20their%20first%20home

"Councillor Tom Shaw, Portfolio Holder for housing in Luton, said: “I’ve spoken to many local people who have been unable to get onto the property ladder because of the large deposits usually required. "

I think you will find the price is the issue.

According to the Vicker's report banks have less chance of being bailed out using taxpayer's cash so should lend more prudently. Therefore the property VIs are trying to push the debt onto councils. I expect that the Autumn statement will say that councils can now borrow money to "help" people get on this non existent property ladder.

So when interest rates eventually rise the councils are going to be in a mess when their debt servicing costs start increasing. Then they will need bailouts using taxpayer's cash. Councils funding property purchases is a transfer of our cash to property developers.

[crashmonitor]

All the subsidy will do is push up prices by the amount of the subsidy, leaving buyers with the same amount of money to find, sellers richer, and council tax payers worse off by a greater amount due to the costs of administering the scheme falling on their shoulders.

It would be cheaper just to give every seller 2500 quid.

#

I think that is the general idea, the councillors are those at the top of the housing ponzi scheme remember. The powers that be will always invent schemes where the money trail will finish in their back pockets. No surpise then that Merv is so keen on quantitative looting.

[eric pebble]

here's a ink to the locak council's webpage on the matter:

http://www.luton.gov.uk/internet/references/news/lloyds%20tsb%20and%20luton%20borough%20council%20help%20local%20buyers%20secure%20their%20first%20home

"Councillor Tom Shaw, Portfolio Holder for housing in Luton, said: “I’ve spoken to many local people who have been unable to get onto the property ladder because of the large deposits usually required. "

I think you will find the price is the issue.

YUP......

LIAR DEPOSITS

--- all to keep the entire Pyramid/Ponzi Scan going.....

SURELY this is TOTALLY illegal....? :angry:

[TheCountOfNowhere]

According to the Vicker's report banks have less chance of being bailed out using taxpayer's cash so should lend more prudently. Therefore the property VIs are trying to push the debt onto councils. I expect that the Autumn statement will say that councils can now borrow money to "help" people get on this non existent property ladder.

So when interest rates eventually rise the councils are going to be in a mess when their debt servicing costs start increasing. Then they will need bailouts using taxpayer's cash. Councils funding property purchases is a transfer of our cash to property developers.

NAIL - HEAD.

The best solution to this mess....is a free, free market

[eric pebble]

It would be cheaper to leave the housing market the hell alone and let prices find their own level, ....//.............

Er...... Mmm............. Sounds like pure common sense......

Oh - that's NOT "the answer" then...

[ingermany]

The real aim of this particular abuse of public money is given in a quote in the article as "stimulating the local housing market and benefitting the wider local economy. “. I see that new properties are excluded so this really is just targeted at desperate and deluded sellers.

This is a subsidy to sellers not buyers. Its purpose is to allow sellers to get above market value prices for their houses with the taxpayer stumping up the difference between what it's worth and what they want.