Tuesday, Jan 02, 2007
Tory Peasant Plan to Help FTBs
Telegraph: Tory plan 'can give new hope to first-time buyers'
The Conservatives will unveil an affordable housing scheme today which borrows from the ideas of the Levellers, the C17th English socialists, and Martin Luther King.
Posted by nearly30 @ 07:39 PM (177 views) Add Comment
15 Comments
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1. paul said...
We might have believed this woolly claptrap once.
Sorry Dave, we didn't believe Tony and we don't believe you.
2. mikexx said...
The acceptance is that it's the price of land which dictates housing prices speaks volumes. The fact that the Tories are in denial of the laws of supply and demand is less so. They still seem keen to stifle the supply of land for housing and maintain land prices for their core supporters.
3. Davros said...
I thought it sounded quite good.
4. talking rot said...
This approach, like shared ownership, merely creates a market within a market with a 1st class citizen (the owner) and a 2nd class citizen (the sharing owner). I hope it will never be adopted.
Far better to bute the bullet and admit that house prices are drastically over valued and then, (wait for it) actually do something about it.
5. Mt said...
Yet another convoluted scheme that totally missed the point... the point being that house prices have grown much faster than wages. The only REAL solution is a correction in the house price:wage ratio. It has happened before and it will happen again.
6. harold said...
The only way to help FTBers is to pull the pull on the housing bubble - it will happen, and as soon as it does vote grabbing ideas like this will be filed in the dustbin. Political froth.
7. harold said...
oops, pull the plug, I mean.
8. Miniftse said...
Atleast they are aware to the problem, but a spineless idea of a solution that wouldn't work, its no different to renting a property except you have the ball ache of having to maintain it. BTL's would pile in and be laughing all the way to the bank, full rent at half the cost - until they came to sell when the price would have caught up with everything else. Why buy anyway? Credit card binge till your 50 then die, not like your going to get a pension, seemingly the only sensible way forward.
9. rich said...
Anything they do to help FTBs is with the aim of maintaining the status quo and keeping prices on the up, partly for the sake of delaying the problem and partly because enough voters are delusional enough to think rising house prices are a good thing.
10. monty said...
It all sounds like leasehold to me, with the obvious exception that tenant owns the bricks 'n mortar. Like leasehold it may well encourage landlords to free up land for development. I don't see it having any effect on the market in the short term.
11. tyrellcorporation said...
Tax Buy-to-let mortages and cap lending multiples for house purchases.
12. paul said...
Absolutely tyrell - that's the only way.
And no-one is interested in fixing the problem.
13. bidin'matime said...
tyrellcorporation said...
Tax Buy-to-let mortages
What exactly do you mean by that...? How do you propose to tax a loan (or more precisely the security given for that loan)??
14. iguana said...
It would seem that Dave has neglected to bone up on land law before spouting off (do politicians really do that?) LOP Act 1925 makes it abundantly clear that the 'house purchase' transaction is one of transfer of title to land and what is permanently attached to it. Therefore ownership of bricks and mortar is simply the ownership of so much builders rubble, albeit arranged in a tidy manner. To make the scheme work they would need to rewrite land law and create some sort of new category of title, or possibly classify the 'new' properties as 'immobile' homes! (just a thought!)
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