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House Price Crash Forum

We Must "support" The Housing Market

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How about using a house as a home, where you live and raise a family and protect yourself from the elements?

It's a crazy idea I know!

But a very good one, in all senses.

To achieve this desirable social norm we need money reform or, failing that, severe restrictions on lending (expanding the money supply) for non-productive speculation in real estate.

I support the former but unfortunately at the moment the latter is politically more feasible, though possible only after the present money/debt imbalances are reset in some way.

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Oh bugger! Fairly new to this site so bit wet around the ears I'm afraid! Oh well, at least I've made his day I spose. Still, there are genuinely people who feel that way in society! One born every minute, apparently. Bit like me in this instance!

Sorry Graham but as you say there are people who genuinely believe that spending money is the road to riches. Our Government are clearly in that camp and have been since the second year of their time in office.

Its very hard for anyone these days to make sense of what has gone on, and there have been many people that were simply laughed at seven years ago that predicted the collapse that we are seeing today. We have a huge population that are ill prepared for life in the real world.

The world has indeed gone mad, where black is white, and those that dissent from popular opinion are labelled extremists and their voice consigned to the back room so as not to be heard.

The answers to our problems are clear, but I doubt either the Government let alone the public have the stomach to endure what is going to be some very tough times ahead.

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Guest DissipatedYouthIsValuable
House prices are compatable with middle management public sector pay, and that is the crux of the matter. Its ridiculous to think that anyone should be in a position to purchase a house, our economy simply cannot afford that luxury. The working classes are competing in a global world where many workers would consider a hearty meal and a pair of new shoes each year a success in their working lives.

Familes are far better serves looking to the state for support, and after a few generations we will return to the days whereby the working classses were happy to rent, and even happier to have a job.

We should learn to be content with a whipping and a leaky bucket for pay.

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Guest theboltonfury
If people had not been selfish and participated in the modern economy then we most likely would not have seen cheap easy credit dry up overnight.

Savers have a huge responsibility in destabilising the markets and freezing up the Global Economy, as indeed is the next barrier and that is the working classes lack of responsibility when it comes to paying higher taxes. Its simply not feasible to tax the rich any further as their numbers are few, and they would simply go offshore.

The working classes are the masses, and a miserly extra 7p in the pound in tax would go a long way to solving many of the problems we see today.

Its encouraging to see that the Government have finally identified savers as the problem and have lowered the interest rates, and made it far harder for people to simply sit back and save, which in a our new economy is worse that being on the dole as its causes a huge block in the financial pipeline. In order for the world economy to prosper, people need to borrow and spend.

to think you've made over 11,000 posts on this board is ******ing mindblowingly inexplicable

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You need to think a bit deeper.

Have you not considered what you are suggesting ?

If house prices collapse, then so do the banks that have loaned money secured on them, and the taxpayer will have to bail them out.

Its important for this Government to keep the banks solvent, hence the reason house prices have to remain at their current levels. We have seen a collapse in the Banking sector and that was before we had the possibility of a house price crash, imagine if there was a crash on top !!!

How about using a house as a home, where you live and raise a family and protect yourself from the elements?

It's a crazy idea I know!

I agree, let's face it - we're in an awful pickle if we have a crash on a crash - bit like a pile up on the M25 - a real mess.

Essentially we are a small island where land should be premium - but, as the banks have screwed up - they are desperate to maintain the facade of this perceived "value" of land. It's a shame, coz most of our land isn't of value anymore and isn't being put to much use other than for "Just Add Hot Water" houses now lying empty, crikey we don't evengrow our own crops anymore or bake our own bread so it's all a bit pointless really. Am definitely going to get myself an allotment - Could end up "Arrrfur" and live in my shed!



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Guest AuntJess
Everywhere I go, people keep expressing their approval of the government's claimed "support" for the housing market. What they mean by "support" is attempting to prop up the price of the still over-priced housing stock. This mantra has now become so entrenched in the media and on the lips of the entire electorate that in my view it is even worse than the previous eight years of perpetual spin and ramping up of housing as a substitute for earning a living.

For the past week, no fewer than ten prime time broadcasts, including shamefully Newsnight, have wheeled on "expert" after expert, all of whom speak with one voice about this.

They are seriously deluded. But what is worrying is that not a single pundit or journalist ever questions this delusion. The notion that getting the housing market moving again by attempting to keep prices high is a ludicrous and painfully crass answer which breaks the fundamental rules of market economics.

Once houses become a depreciating asset, which they have been now for one and a half years, they become subject to the same rules as any other depreciating asset. Yet somehow, magically, housing is considered "different". This is nonsense.

Of course we all know that firstly you cannot support the unsupportable in this way, and secondly it gives out the very opposite signal to that required, which is to avoid ever again promoting housing as a quick fix personal equity investment for the average person. It is the substitution of house inflation for actually working for a living which has ruined this economy, and what does the government do? It promotes exactly the paradigm that led us into this mess.

Instead of hedging around this subject, which all the media and almost every single economics "expert"does , they all need a liberal dose of economic syrup of figs to purge themselves of the delusion. Part of the delusion is of course a studied one, and represents an avoidance of telling people how it really is for fear of being found out. Ministers and financiers are constantly trying to invent a security blanket around those in negative equity instead of getting them to face the truth.

The best way to "support" the housing market is to let it fall to sustainable and affordable levels. If a few hundred thousand people go through hell then that is tough, because if the delusion is extended much further it's going to be hell for a lot more than that. No-one EVER mentions that cheaper housing will support about ten times the number of people than would suffer from it.

This is a message that sorely needs to be made, but I fear the disproportionate sympathy for those who got themselves into a mess as a result usually of greed and opportunism will always outway what should be much more sympathy for those who never got on the "ladder" in the first place.

Spot on!

Pity we can't get FP for Chancellor. He'd be a much cannier Scot than the last one we had! <_<

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Houses are affordable today, just not to those who work for private industry. Mabye if we all worked for the Public Sector then they would in real terms become much more affordable as we would have a degree of security and a salary that is not mirrored in the private sector.


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Only by taking the hard decisions can Labour maintain their integrity as the only people capable of leading us out of a US created recession.

Labour and integrity don't work in the same sentence.

As to keeping the housing market solvent,gordon appears to have everone hooked on glue-sniffing.

Solvent abuse kills.

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It is a pointless effort letting house prices fall again, as they would simply rise up again soon after. What makes much more sense is to keep them at the high levels today, and make those who are non productive in the new economy such as savers or low earners pay taxes to keep those that have taken a key stake in the UK housing market solvent.

Only by taking the hard decisions can Labour maintain their integrity as the only people capable of leading us out of a US created recession.

Are you for real????? Us created recession bull......! Keep house prices at high levels benefits who. Banks and the few with vested interests. Your view of the world is pretty futile.

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I am surprised nobody has joined the dots.

We are funding MPs investments through their second home allowance. Many have also invested heavily in other property.

Of course we must all keep property prices high to protect MPs investments.

They all deserve to retire from goverment as millionares, just like Blair did. It is our duty.

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