Friday, Mar 26, 2010
"Well, here's another nice mess you've gotten me into."
Moneymarketing: Darling fails to fix flaws in housing
Mortgage experts have attacked the Government’s housing market proposals set out in the Budget, saying they show a lack of understanding of the market. The Government also revealed that HM Revenue & Customs is looking to establish an income verification service for lenders............................
Posted by jack c @ 04:24 PM (587 views) Add Comment
2 Comments
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1. quiet guy said...
The way the stamp duty tax works is certainly stupid but how can Darling 'fix' the flaws in house prices except by stepping away and letting the market correct? I might as well argue 'what's so bad about genocide' as make a case for free market house prices in the UK. The flaw is deeply ingrained to (property owner's equity) our economy and won't go down without a fight.
2. a saver said...
'Darling fails to fix flaws in housing'
As quiet guy says, Darling has done too much meddling already and should let the market correct.
FTBs and others need cheaper prices and it just couldn't be more unfair the way that the gov is forcing taxpayers and savers to subsidise house prices by higher taxes and IRs way below inflation.
At least in Iceland they had a referendum to ask the people what they wanted to do about compensating the UK and Netherlands for losses incurred from the Icelandic bank collapse. Yet the sum that the Icelanders would have had to pay per head pales into insigficance compared to what some of us are losing every year from lost savings income.