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Realistbear

Indy: Government Blamed For Making Homes More Affordable

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http://www.independent.co.uk/news/business/analysis-and-features/was-the-last-fall-in-house-prices-just-a-warning-2034677.html

The new Government is being blamed for the reverse in the market.
Not only has demand to buy property been reduced by an austerity package that puts jobs at risk and which will raise VAT, the abolition of HIPs – the Home Information Packs sellers had to buy – has greatly increased the supply of properties on the market. Shipside reports a 22 per cent jump in homes on offer since HIPs were scrapped last month.

It will take years for this country to realise that HPI, or any kind of inflation that destroys the economy, is a malignant disease.

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The Independant shares the rabid house price addiction which afflicts Express/Mail. The article bemoans the 'flirting with realism' by the economy. They ignore the fall out from the Ponzi scheme in the same way that a cocaine addict may consider their septum superflouous.

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http://www.independent.co.uk/news/business/analysis-and-features/was-the-last-fall-in-house-prices-just-a-warning-2034677.html

The new Government is being blamed for the reverse in the market.
Not only has demand to buy property been reduced by an austerity package that puts jobs at risk and which will raise VAT, the abolition of HIPs – the Home Information Packs sellers had to buy – has greatly increased the supply of properties on the market. Shipside reports a 22 per cent jump in homes on offer since HIPs were scrapped last month.

It will take years for this country to realise that HPI, or any kind of inflation that destroys the economy, is a malignant disease.

I find articles like this that try and make affordable housing A BAD THING quite repugnant. It even tries to suggest that poor old FTBS won't want to buy because prices are falling. OTOH anything in the media that stokes the fear is a good thing.

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It will take years for this country to realise that HPI, or any kind of inflation that destroys the economy, is a malignant disease.

They need educating via the letters page.

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They need educating via the letters page.

I think the only way the Sheeple will be educated is via the loss of many tens of thousands of pounds. The trouble is if this happens it will be the young FTB of the last 4-5 years who are the ones nursing the largest loss. The ones who bought in around 2000 will be able to weather a 50-60% loss of value before they see an actual loss due to the size of the bubble.

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I think the only way the Sheeple will be educated is via the loss of many tens of thousands of pounds. The trouble is if this happens it will be the young FTB of the last 4-5 years who are the ones nursing the largest loss. The ones who bought in around 2000 will be able to weather a 50-60% loss of value before they see an actual loss due to the size of the bubble.

The people I know who bought in late 90s/early 00s are up to their neck in debt. Re-mortageged twice to buy a nice car, new kitchen, finance their wedding, holidays.... etc

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In my experience - the Daily Mail/Daily Express people are bad about house prices - not the writers or commentators - but the people I know who read it.

However, the Independent are even worse.

They have a sense of entitlement - that their houses deserve to be worth more - partly because they think that they live in nicer areas and that all this Credit Crunch was not caused in any way by them.

They cry foul for all sorts of fairness in society - but when it comes to House Prices - the mask slips.

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I DEMAND higher prices. I insist on paying more for things!

All these price reductons are simply an outrage and must be stopped.

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I wish petrol prices would recover, I am payng just £1.20 per litre, at least the VAT increase will add a few pence ... and the gulf oil spill could add 10p so with some luck prices could recover to reach £1.50 by early next year

I'm hoping that with my House going up in Value by 10% last year - that my Council Tax bill will go up by at least that.

Some nasty councils in Scotland have actually frozen Council Tax Inflation (CFI) for the next 2 years - which I think is just unbearble.

I've always thought of my house as an ATM - :blink:

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I find articles like this that try and make affordable housing A BAD THING quite repugnant. It even tries to suggest that poor old FTBS won't want to buy because prices are falling. OTOH anything in the media that stokes the fear is a good thing.

Seconded (+1)

I found this highly amusing ....

The housing market's importance extends far beyond whether people own their homes. The Bank of England admits that housing is a driver of the economy; rising prices not only provide the feel-good factor that encourages us to spend and invest, but also givies consumers cash through remortgaging and equity release.

What would have happened if Brown's muppets stayed in power? Sustainable recovery? They would have had to cut nearly as hard and nearly as deep too. Otherwise the economy would have blown up (spectacularly) in five years.

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I DEMAND higher prices. I insist on paying more for things!

All these price reductons are simply an outrage and must be stopped.

I agree, we all need higher prices so the recovery can remain locked in ;)

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By maintaining interest rates at record lows, continuing SLS, continuing to allow banks to write fraudulent asset values on their balance sheets, by continuing to stop the LandReg including all sales on its records, for overpaying 300k mortgages for people etc etc.

Maybe the Indy would be happier if the govt just wrote £1million cheques to homeowners for being 'bloody nice people' and to compensate them for the absence of wildly fanciful gains.

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Maybe the Indy would be happier if the govt just wrote £1million cheques to homeowners for being 'bloody nice people' and to compensate them for the absence of wildly fanciful gains.

I think you'll find the term is: "Hard-working families"

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  • 239 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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