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About daveboden

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    HPC Newbie
  1. Has a date been set for the 2007 budget report. If so, any rumours in the press about some kind of Stamp Duty-based help for FTBs?
  2. Interest rates are a very blunt instrument which I'm not relying on to bring house prices back to a reasonable level. Only some properly directed, simple (!) initiatives to reduce the attractiveness of Buy-To-Let and 2nd home ownership will suffice. Don't bother learning anything, just learn how to apply for a B2L mortgage! Live the dream!
  3. I agree. I wonder how many young families who've bought in way overt their heads are going to get bailed out by the government when bankrupcies pick up. The message is loud and clear from the current government; spending responsibly and contributing to the country will get you nowhere at all.
  4. I've just sent a letter to my MP, Nick Reynsford. I've noticed that one of his Registered Interests is: Land and Property Two-bedroomed flat in London, from which rental income is received. See: http://www.theyworkforyou.com/mp/nick_rayn...ch_and_woolwich Great. I wonder what will be done about house prices in Greenwich? Does your MP own a buy-to-let?
  5. There's a development of 500 houses going up next to Greenwich mainline station (New Haddo Estate). Over half of them are classed as affordable housing. I've got nothing against Police, Nurses etc. having somewhere to live. They're pretty useful people to have around. However, subsidising housing is not the way to do it. Instead, the public sector should pay workers enough to attract them to central London. Then workers can choose to rent or buy, and if they're massively priced out of the market then they can choose to live and work somewhere else where they get a better standard of living.
  6. The snippet from the BBC was interesting. It made me realise how closely intertwined the housing bubble and the pensions mess are. The average person has no idea whether to put £10k or 10p into their pension this year. There's no confidence that the money will be there in 30 years time. Bricks and mortar are a much more "obvious" investment. People can see what they're buying. So, fortysomethings with money to spend may choose to plough money into buy-to-let property until there is a clear plan for pensions. Once you've bought a house and paid all that stamp duty, there's a lot of inertia. I
  7. Allow me to suggest some changes to council tax and derelict property policy based on the principle that: "During an unprecidented demand for housing in the UK, no property should be vacant or derelict". If you agree that the principle is correct, may I suggest that: * Landlords who have vacant property should be charged council tax until new tenants are in. Moreover, I don't know why we collect council tax from tenants when it is homeowners who derive most of the benefit. Why not collect council tax directly from landlords? * Owners of derelict properties should be served a notice t
  8. He just said that next week's "Breakfast with Frost" will be the last ever. Sometimes, you do get what you wish for!
  9. Erm... I could ask more difficult questions than Frost. Is he reading off a script? Not exactly cutting to the heart of the matter is he? "Gordon Brown, please give us your rhetoric that you have prepared on house prices" ... "Ah, very good, thankyou". What a loser.
  10. The delay until April 2006 is really good news, though. Hopefully now any potential FTBs will think "I'll wait until April and apply for this crazy scheme". That should dry the market right up.
  11. I'm after a geared investment. Interest on a savings account is definitely better than nothing... but not much at the moment! After all, mortgages are probably the highest geared investments that the average person will consider owning. Putting £10k down on a £200k property is enormous gearing. We've seen how much people in the BTL market can gain (on paper) by exploiting massive gearing and owning 10 properties with a tiny deposit. Spread betting is always an option: http://www.financial-spread-betting.com/Ho...ad-betting.html Spread betting, however, isn't really doing the cause any favou
  12. Is there an investment vehicle that moves in an opposite direction to house prices? I'm sure that a few of us have a few thousand saved up for a deposit. I'd like to punt on the fact that house prices are going to come down. That way, if house prices do come down, I've got a bigger deposit! (obviously I understand that like all investments, it could go pear shaped). If enough of us put money in such investments, we might well create a self-fulfilling prophecy... I'm fed up of playing the waiting game and I want to put my money where my mouth is.
  13. On the http://www.firsttimebuyerhelp.co.uk/links/ page, there is a brilliant article: No room for seconds Buying to rent is naked greed, and the real reason behind the housing shortage. That means you, too, Tony http://money.guardian.co.uk/houseprices/st...1397777,00.html OK, so I completely agree with this article. What's missing from the firsttimebuyerhelp website is a suggested approach. If you were in government, how would you change the tax system so that it is not cost effective to own buy-to-let properties? What would be great is if the proposed scheme could let buy-to-let landlor
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