Monday, May 11, 2009
Homebuyers in lurch as state help exhausted
The Times: Homebuyers in lurch as state help exhausted
I hope you appreciated my humour in using the article headline as my own. First paragraph of the article: "First-time buyers using a government scheme to get on the housing ladder have had to pull out of purchases at the eleventh hour after funding ran out." It's over. The big debt party is finally reaching the end.
Posted by quiet guy @ 01:15 AM (639 views) Add Comment
4 Comments
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1. sybil13 said...
The Times said in March "FTB rush to sign up to government new scheme". Then there was a challenge by the opposition about how many had signed up, to which Beckett replied "I know there was at least one because I met them"!!! Is it possible that the government realised how badly it would reflect on them if they started encouraging 100% mortgages on hugeld overvalued property getting people immediately into 20% + negative equity?
2. uncle tom said...
The name says it all - only an Orwellian cretin could come up with a newspeak name like "MyChoice Homebuy".
This Govt never did have any management skills - now that the civil servants can't be bothered to help them cover their incompetance, everything they attempt descends into farce and fiasco..
3. stillthinking said...
The way lending is controlled is with interest rates, too much lending=high rates, too little lending=lower rates.
The government want to control lending without the necessity of higher rates. This argument is that lending needs to be controlled because otherwise the banks will lend so much they end up with mass defaults. However, if you ensure that all the banks who do that wipe out their shareholders and various off-loaded bond holders, they won't (now anyway...).
4. inbreda said...
The comments under the article say it all. Particularly the one that points out that everyone - except the media and the government it owuld seem - are waking up to the reality that high house prices are NOT a good thing.