Saturday, Feb 11, 2012
The Spectre of House Price Deflation Looms
BBC: New deals for buyers as stamp duty holiday ends
Why buy today when you can buy tomorrow at a lower price.
The problem is that tomorrow you will feel the same, and the day after and the day after that.
Posted by wdbeast @ 09:29 AM (1297 views) Add Comment
4 Comments
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1. paul said...
A carefully worded 'crocodile tears' article.
The strapline gives good advice on why FTBs shouldn't rush but then the text of the article lists a host of reasons why FTBs should do just that.
The following is especially interesting:
"If they were to continue to fall at that sort of rate or more, as some commentators are suggesting, then clearly the saving you are going to make will be wiped out very swiftly,''
They are extremely careful not to join the dots to say "If they were to continue to fall at that sort of rate or more and you wait then clearly the resulting extra you are going to pay will be regained very swiftly."
Whoops BBC - your bias is showing again!
2. stillthinking said...
"Stuart Smith from Bristol renovates houses for a living and would like to buy his own property.
"It's really frustrating because I have so many ideas about what I could do to my own home if I owned one,..."
Stuart is in the position of working tax free as a home renovator. He borrows the money to buy some ramshackle place, he does it up. He sells. As this house is his primary dwelling he pays no capital gains, he keeps tax free whatever added value from his work. This is a bit different to other workers who pay tax, national insurance and immediately they are employed take employers contribution out of the company.
Or maybe thats why he is so frustrated! Within inches of the golden goal of life in the UK, a confiscation free relationship with the state!
3. mark wadsworth said...
I see that the BBC are now doing advertorials for Castle Trust, that's how corrupt this country is.
ST, "a confiscation free relationship with the state" But what is land if not confiscation? If you work, then the state confiscates part of your wages in tax, but if you own land, the government confiscates from other people's wages to ensure that the value of your land goes up and up.
4. Imminent_plunge said...
Or more sensibly: buy at under £125k. Do not be persuaded to do otherwise. The Market is yours.