Sunday, May 13, 2007
Can the PM be the one who sinks the tanker?
Guardian: Brown to put homes shortage at centre of new agenda
I do not know what to make out of it, but if the ex-Chancellor (now PM) and his closest allies decide to tackle the housing issues, there is a good chance they will screw up the property market. Just one/two taxes and some additional red tape and the BTL will flee en masse... that's what we are waiting for! Go Gordon, go!
Posted by confused76 @ 12:27 AM (160 views) Add Comment
13 Comments
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1. royston said...
Hasn't Gord Almighty done well? - for a guy who got lucky with the world economy, wrecked our pensions and sold our national gold reserved at rock bottom prices. Why have the media let these stories drop over the past couple of weeks? It's crunch time now. What's going on?????????????????
2. confused76 said...
Some sensible voice in the media... unfortunately too few of these articles.
http://business.timesonline.co.uk/tol/business/money/pensions/article1781345.ece
3. confused76 said...
..."I expect buy-to-let will come under unprecedented scrutiny in the coming years as this story evolves."
http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2007/05/12/pword112.xml
4. confused76 said...
This should probably give some signal to Neue Labour to act. Together with the PricedOut demonstration this weekend
"Buy--to-let loans undercut conventional homebuyer mortgages"
http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=91574&MenuKey=News.Home
"High house prices and falling rents are leading buy-to-let lenders to offer mortgages based on landlords' salaries rather than letting value..." This may mean that BTL craze will not last much longer, but who knows...
http://www.landlordexpert.co.uk/index.php?news=669
5. harold said...
Brown knows full well that the housing 'shortage' is an affordability issue that will only be solved by property returning to its long-term average. Brown’s 200k houses are meaningless rhetoric designed to spin well in the media.
6. paul said...
Seeing as it was Gordon Brown who created runaway house price inflation in collusion with the Bank of England ex-Governor (and quite frankly, who knows who profited from that kind of insider knowledge), who damn well should sort it out.
Don't be under any illusions though - this is just a popularity bid. He won't actually do anything about it because there's too much tax revenue involved in the boom. He'll seek to prolong it as long as possible.
7. confused76 said...
See comments to this article
http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article1771347.ece
one would hope that helping the FTBs (or as I would call it, house buyers that would use the property as their first home) would amply offset the protests of the BTL (hopefully still a minority)
If the govt acts promptly they may actually capture some votes, and that should be the incentive
but a flat reduction of the transaction costs would benefit the BTLs as well as anyone else and push up the prices
8. Ticktock said...
Ref - Why have the media let these stories drop over the past couple of weeks? It's crunch time now. What's going on?????????????????
Brown has been forced recently to publicly declare his intention to continue with the Blairite reforms of (or sale of ) the UK, in the best interests of the foreign investment banks/ Hedge funds who decide who will be allowed to be prime minister.
The media have since put the anti - Brown propaganda tales on hold. It is now in their best interests to endose 'atlantasist' Brown who has now committed to pretty much all of the projects, that have made Blair so detested by 95% of the population.
Cameron will make the same promises to the same people too in order to be elected, and our 20+ years of collonial, provincial, powerless and pointless Government will role into its next period of US sponsered 'reform'.
9. magnifico said...
As I said a couple of days ago( and for a long period of time before that) I think taxing BTL is the only way forward.
What's the point in building more and more 'affordable' housing if these properties get snapped up by speculators on a 100% mortgage.
I think Gord has the chance of doing the right thing here, and I think he needs to tackle one big issue with courage to show his leadership credentials. There ain't no bigger issue for the British public at the mo.
10. Cheekie Charlie said...
Gord needs to speak to the Spanish PM to find out how property building on a mass scale is really done.
11. Wally said...
Remember education. Remember health. Labour identify the issues and sell them really well. But they just don't seem to be able to deliver anything other than a mess. I am afraid that this is likely to be just the same.
12. confused76 said...
A few interesting quotes here:
http://www.pricedout.org.uk/Articles/WisdomfromtheWise/tabid/103/Default.aspx
And an appalling article at this link:
http://business.timesonline.co.uk/tol/business/columnists/article1781450.ece
it clearly shows how self-professed experts cant predict yesterday;s weather
13. David20040_0 said...
Ummmmmm this is the Labour Party, i.e. promise the world, deliver nothing.
Until the Tories regain power, if ever, this madness won't stop.