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SarahBell

Isle Of Man To Subsidise Ftb

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Isle of Man to subsidise FTB

because property too expensive so they going to vote today about giving them some money - not entirely sure - can't see url for story - was on local news

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Isle of Man to subsidise FTB

because property too expensive so they going to vote today about giving them some money - not entirely sure - can't see url for story - was on local news

Prices are determined by the highest willing and able bidder. If you want a place, and you outbid the poor person next to you, you get it. So the Isle of Man are going to give that poor person more money, so that they can now bid higher, presumably enough to outbid the original winner.

So we end up with a higher house price do we not, just someone different in it. Oh yeh, and a higher tax bill for someone else.

Sweet,

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It always amazes me with politicians that they can't - or won't - see that if people can't afford a house it is perhaps because the price is too high, and therefore, perversely, offering these taxpayer funded artificial props to maintain levels of unaffordable property is madness.

If only they as leaders of our community could come out and say 'perhaps house prices are too high, after all we've just been through a bubble, the result of lax lending and easy credit, and look what has happened to the banking industry.'

Edited by tinker

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It always amazes me with politicians that they can't - or won't - see that if people can't afford a house it is perhaps because the price is too high, and therefore, perversely, offering these taxpayer funded artificial props to maintain levels of unaffordable property is madness.

If only they as leaders of our community could come out and say 'perhaps house prices are too high, after all we've just been through a bubble, the result of lax lending and easy credit, and look what has happened to the banking industry.'

A tax haven island economy is rather different. There is completion from oversea's rich tax avoiders who make it impossible for locals to buy. So they emigrate, leaving the island and making it eventually unviable. The tax havens depend on high prices/tax avoiding investors as its their entire income base.

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  • 294 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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