Wednesday, Mar 12, 2008
Connells joins Stuatz comedy club - VI squealing like a piglet in a pen
Mortgagestrategy: BUDGET 2008: Smoke and mirrors from Darling
Connells Survey & Valuation has slammed today’s Budget as nothing more than smoke and mirrors, and is calling for the government to take considered action to rebuild the housing market. “The government is ignoring the perilous situation in the housing market completely. We needed to see decisive action in this budget to address the lack of confidence in the market - what a wasted opportunity.”
Posted by jack c @ 05:34 PM (847 views) Add Comment
12 Comments
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1. confused76 said...
Rebuilding the market! what the f@ck is this?
market valuations never so high
double digit inflation over the past 10 years
but what the heck do these m@rons want
2. A Saver said...
NO, NO, NO!
The real problem is PRICES ARE TOO HIGH AND INTEREST RATES TOO LOW!
But what else would a VI say? The worry is that some people take them seriously.
Good to see that alcohol and tobacco duties have been increased, at least these are discretionary items.
3. jack c said...
Interesting how the majority of VI's continue to try to talk the market up and yet we have Connells crying “The government is ignoring the PERILOUS situation in the housing market completely" and Stuatz Azzetz demanding a 0.5% base rate cut - perhaps this indicates that they have just moved past the denial stage of the game.
4. Fwb said...
I think the m@rons want to see houses hit 20 times salary. The market has gone up and up and up, so houses are fantastically expensive, but buy one rent it out and house prices will surely double again!
5. Letthemfall said...
Address the lack of confidence? Take action to speed up the crash. Once prices are normal, the people will be more confident.
Estate agents. How many ungraded GCSEs to you need to become one?
6. Ian said...
Can anyone explain why and how the housing bubble should be maintained? Who exactly is supposed to benefit from it? Apart from those who sell up and leave the country for cheaper parts I can see no merit in prices being so high.
Do these jokers not realise that the bubble has finally burst and that there is nothing that can be done about it? One of the basic economice rules is that you cannot buck the market. Interest rate cuts will do nothing now that confidence has gone and buyers realise that prices do not rise for ever.
7. Fed Up said...
Several years ago - and I wish I could find a link for this - Connell's was prosecuted for paying people to put SOLD boards outside their house in order to generate a market. I guess they could always try it again.
8. wdbeast said...
On the other hand we could have a market crash!
9. fahrenheit451 said...
When will they change the Stamp Duty system so that it works fairly? These thresholds where the whole of the amount is taxed just increases the cost against the buyer. If it is going to be banded just tax the banding like Income Tax, etc. This will soon ease up the market in the constrained areas around the changes in rate. ie the £150k starter home. (Which is a bit of a flying pig anyway in the South East.)
http://www.hmrc.gov.uk/so/rates/
But hey, who thinks they have the gumption to do anything vaguely sensible anyway.
The inflation figures are all massaged to give a better picture ... to keep down public sector pay ... and they are in self denial about so much it would take a genius with a silver tongue to actually get anything done. So they ain't close to intelligent (way off genius) and just use GBH tactics 'cos they don't know any better.
10. Watching And Waiting said...
Fed Up @ 7
The major house builders are doing something similar in the fact they are putting giant SOLD boards on the properties destined for Housing Associations. It makes it look as if the site is selling quickly. This can be upto 20% of the housing estate at any one time.
11. wiltshire said...
Farenheit, I'm sure once the housing market starts to slump dramatically they'll decide it's time to change the Stamp Duty system. Infact they probably have the details drawn up already it's just a matter of when. They're going to need to squeeze more money from the system, even in a slumping market. By the way, one change I'd like to see is to simply call it what it is i.e. House Purchase Tax.
I think that the inflation figures are all but discredited now and it's to Liebour's detriment that they continue to claim all is well. They seem to forget that the people they are trying to convince are out there purchasing and paying bills on a daily basis and as such can see inflation staring them in the face on a daily basis.
A couple of times this week I've heard pundits, including on Newsnight I believe, questioning whether any party would REALLY want to win the next General Election. I think the sort of discussions that have been commonplace on here for a few years are now about to go mainstream. The game is up. Liebour's goose is cooked.
12. Fed Up said...
If Darling wants to raise tax revenues he could always lower the stamp duty threshold as house prices fall. But then of course that would only chase the market down. Whoops!