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Laura

A Ground Breaking Stimulus Scheme For The Property Market

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My public service mole (the same one who told me about Brown's barmy 'Compulsory House Price' idea way back) has revealed another nutty, yet interesting plan that is being tossed around, a Two-Tier Currency! - I kid you not!

If I have this right, the idea is that vendors will be encouraged to reprice their properties back up to 2007 values but in new 'Property Pounds'. Whereas buyers will use the GBP, as we all know & love it, at a ratio of ten to one PP to GBP for property purchase.

The clever part is that vendors do not have to convert their PP stash back into GBP if they do not wish to as special PP savings accounts will be set up. Thus they can keep their money safe until they wish to buy another house.

No interchange of the two will be allowed outside of property sale & purchase until the UK is back on its feet.

At some point in the future the govt. will gradually begin to reduce the differential between the two until parity is restored.

In the meantime buyers will be able to purchase one property (& one only) using the scheme, & sellers can only sell using it. Breaking these rule will be a criminal offence.

The plus point for sellers is that they will (if they have sufficient equity) be able to see all those zeros in their saving accounts knowing that one day they will again be equal to Sterling.

It is thought that this will provide a huge boost to the housing market & allow the deserving to buy a place of their own without BTL scum pricing them out. This sounds so socialist to me that I can't believe anyone from Brown's mob had anything to do with it.

The chances of this idea being introduced are very slim, but who knows what legislation will be imposed when the uk collapses.

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WTF?

I call billy

10 to 1 ?????

I could buy Buck House FFS!!!!

Well not quite - but you know what I mean

Edited by sbn

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My public service mole (the same one who told me about Brown's barmy 'Compulsory House Price' idea way back) has revealed another nutty, yet interesting plan that is being tossed around, a Two-Tier Currency! - I kid you not!

If I have this right, the idea is that vendors will be encouraged to reprice their properties back up to 2007 values but in new 'Property Pounds'. Whereas buyers will use the GBP, as we all know & love it, at a ratio of ten to one PP to GBP for property purchase.

The clever part is that vendors do not have to convert their PP stash back into GBP if they do not wish to as special PP savings accounts will be set up. Thus they can keep their money safe until they wish to buy another house.

No interchange of the two will be allowed outside of property sale & purchase until the UK is back on its feet.

At some point in the future the govt. will gradually begin to reduce the differential between the two until parity is restored.

In the meantime buyers will be able to purchase one property (& one only) using the scheme, & sellers can only sell using it. Breaking these rule will be a criminal offence.

The plus point for sellers is that they will (if they have sufficient equity) be able to see all those zeros in their saving accounts knowing that one day they will again be equal to Sterling.

It is thought that this will provide a huge boost to the housing market & allow the deserving to buy a place of their own without BTL scum pricing them out. This sounds so socialist to me that I can't believe anyone from Brown's mob had anything to do with it.

The chances of this idea being introduced are very slim, but who knows what legislation will be imposed when the uk collapses.

Did i miss something. Is it April 1st?

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right - I'm starting to believe the gold bugs now...

Edited by Si1

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so 'house tokens'

it will never happen, but it makes sense for anybody going up the ladder, but not anyone to use property as their pension. and thats the fault.

the boom was speculative, not needs based.

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so 'house tokens'

it will never happen, but it makes sense for anybody going up the ladder, but not anyone to use property as their pension. and thats the fault.

the boom was speculative, not needs based.

Edit - ignore me

Edited by sbn

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RFD!!!

Where TF did you come from??? I thought you'd kicked the HPC habit

yeah i did. then i got bored of either

a. working for sweet FA but the same but fµck egypt dosshole.

b. looking at rightmoves silly prices, knowing i can never escape the NW

c. seeing average talentless knobs in the newspapers with their £500k+ homes.

i was asking, how come i work and earn yet get nothing and nowhere.

then i realised, its all a load of shit. and come here to post bitterly about the stolen years.

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That's a completely bonkers scheme....

...so obviously it must be true.

The Amercans had a plan at one point to convert all overseas dollars to "redbacks" - a red coloured dollar to run alongside greenbacks. It would be illegal to export an actual greenback, you'd have to convert to redbacks. This would allow the yanks to devalue redbacks while not robbing their own citizens holding greenbacks.

Needless to say it came to nothing. (Yet!)

I'm afraid only time will heal the property market; there is no quick fix. We had ten years of boom and now we must have ten years of equal but opposite pain.

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Better to just whack rates up to 10% and have a purge.

Then have lots of small debt courts where people go with their debt and a magistrate makes a decision with both parties quicky.

Need to get these assets re priced and moving again and deleverage people and companies.

I think the damage we are doing to pensioners and savers is a scandal.

Even making mortgages non recourse would be a start.

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Better to just whack rates up to 10% and have a purge.

Then have lots of small debt courts where people go with their debt and a magistrate makes a decision with both parties quicky.

Need to get these assets re priced and moving again and deleverage people and companies.

I think the damage we are doing to pensioners and savers is a scandal.

Even making mortgages non recourse would be a start.

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WTF?

I call billy

10 to 1 ?????

I could buy Buck House FFS!!!!

Well not quite - but you know what I mean

You'll have to outbid me. And everyone else with a few quid's worth of net liquidity. I'm thinking £100k is a decent deposit, but add a debt-free multiplier and 2007 prices look cheap again ...

Hence, rampant inflation again, as soon as folks start falling for it.

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The OP has a past history of these kind of postings.

Good you are still here Laura. :lol:

I think Laura's been squeezing those lemons into the Gs&T too rapidly today! :lol:

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Why doesn't the government just admit that houses are only actually worth a tenth of what people are prepared to pay for them? What next, housing stamps?

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I think Laura's been squeezing those lemons into the Gs&T too rapidly today! :lol:

Actually a very pleasant Spanish Syrah.

The Gsss&T arrives later in the day, by the bio pool..............

more bio than pool at the moment but we are working on that.

Any aquatic plant experts on here? ;(

(General Melchett @ Jun 24 2009, 03:15 PM) *

Whatever have you been smoking, Laura?

(I hope).

Not touched that stuff for years GM ............ & it's free around here too.

.......................................................................

I think the scheme has merit; it makes a change from ripping off us idiot savers

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I think that the OP is proposing is, basically, the government (bank of england in this case) paying the difference between teh 2007 peak price and the current value. Probably using QE money.

It's just a very round-about way of doing it.

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My public service mole (the same one who told me about Brown's barmy 'Compulsory House Price' idea way back) has revealed another nutty, yet interesting plan that is being tossed around, a Two-Tier Currency! - I kid you not!

If I have this right, the idea is that vendors will be encouraged to reprice their properties back up to 2007 values but in new 'Property Pounds'. Whereas buyers will use the GBP, as we all know & love it, at a ratio of ten to one PP to GBP for property purchase.

The clever part is that vendors do not have to convert their PP stash back into GBP if they do not wish to as special PP savings accounts will be set up. Thus they can keep their money safe until they wish to buy another house.

No interchange of the two will be allowed outside of property sale & purchase until the UK is back on its feet.

At some point in the future the govt. will gradually begin to reduce the differential between the two until parity is restored.

In the meantime buyers will be able to purchase one property (& one only) using the scheme, & sellers can only sell using it. Breaking these rule will be a criminal offence.

The plus point for sellers is that they will (if they have sufficient equity) be able to see all those zeros in their saving accounts knowing that one day they will again be equal to Sterling.

It is thought that this will provide a huge boost to the housing market & allow the deserving to buy a place of their own without BTL scum pricing them out. This sounds so socialist to me that I can't believe anyone from Brown's mob had anything to do with it.

The chances of this idea being introduced are very slim, but who knows what legislation will be imposed when the uk collapses.

If you really want us to believe a story you've invented, then make it slightly credible! Or, do you believe in the old adage "If you tell a lie, make it a big one!"?

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One problem with this is who would dare to buy a property when it involves irreversibly converting

their GBP to PP, which PPs may or may not come to parity with GBP at some undefined point in

the future?

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What if there is a mortgage? Will the bank accept 10% of the debt in full and final settlement?

I can't see it.

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One problem with this is who would dare to buy a property when it involves irreversibly converting

their GBP to PP, which PPs may or may not come to parity with GBP at some undefined point in

the future?

Ahh, we are talking investment (about a need)?

Why would that matter?

Property would be affordable.

Striving for a mortgaged hive in the land of one's birth?! - It's an atrocity.

& I'm sober ........... or as sober as is sensible in this (beyond HPC) madhouse

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