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This is a good point.

If it was for second hand homes, it could result in four or five sales in each chain.

This isn't propping up the market or helping FTBs - it's just a taxpayer's bung to landowners.

But it's good news. It means we aren't prolonging the stagnation with falsely propping up the chains and giving bulls an excuse to say prices will rise.

FTBers of yesterday and well and truly stuffed. Get used to negative equity, no get out of jail this time.

Heard their complaints on radio5 today. Moan, moan, moan about poor existing buyers in NegEquity and unable to get good mortgage deals, as if they have a god given right to them! Incredible, ignorant of reality and what they signed up for.

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Milliband sounds like he is in a school debate. The hecklers are getting to him and he is entirely unconvincing.

Will he last to the next election? Being to to pull apart a budget is the bread and butter of an opposition leader and he looks like a rank amateur.

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Guardian coverage of the First Buy scheme pretty sceptical: http://www.guardian.co.uk/uk/2011/mar/23/budget-2011-first-time-buyer-scheme

The First Buy scheme will be open to those with a household income of less than £60,000 a year who can put down a 5% deposit on a new home – but housing industry insiders claim it is "window dressing the wider problem" and will benefit the construction industry more than first-time buyers.

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Can anybody honestly say they can't imagine Brown giving this exact speech?

Brown would never have given a speech like his. His were far too dumbed down and key word obsessed. The message would have been pro benefits 'seekers', 'hard working families' and public sector workers. He hated private enterprise.

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But it's good news. It means we aren't prolonging the stagnation with falsely propping up the chains and giving bulls an excuse to say prices will rise.

(...)

I agree, I was simply pointing at the motivation.

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This is a good point.

If it was for second hand homes, it could result in four or five sales in each chain.

This isn't propping up the market or helping FTBs - it's just a taxpayer's bung to landowners.

Some housebuilder shares seem to be doing alright on the news.

Top 10 winners

value change %

Barratt Developments

110.20p +3.90 +3.67

Redrow

129.70p +4.10 +3.26

Taylor Wimpey

41.97p +1.05 +2.57

In some ways this might be a good sign. It shows they're concerned prices are about to start falling again, and what affect that would have on GDP and the recovery (and unemployment). Or am I just reading too much into it?

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Peston saying the banks will be annoyed with the levy.

He's probably right - they get furious at every piddling amount that doesn't fit in with their exponential expectations.

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Fuel duty sabiliser comming up??...

Osbourne still needs stabilisers on his bike journey to the office.

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Exactly. This makes the measure almost neutral for me as I have no interest in a POS shared ownership new build.

Still would rather they kept their money to themselves but could be worse.

are you crazy? The tax payer is still being asked to cover 20% of the price on these overpriced POS new builds. We know they will inevitably fall at some point so any money that goes on this scheme is from our pockets straight down the drain. Even if it does little to prop up the market I'm still properly furious about it, have contacted my MP and councillor about it and won't stop there.

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are you crazy? The tax payer is still being asked to cover 20% of the price on these overpriced POS new builds. We know they will inevitably fall at some point so any money that goes on this scheme is from our pockets straight down the drain. Even if it does little to prop up the market I'm still properly furious about it, have contacted my MP and councillor about it and won't stop there.

but where will you stop?

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One whole penny of fuel. Wow.

I wonder if the oil companies are just going to add a few more pennies back on to cover their increased tax burden.

rolleyes.gif

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That FTB scheme, is it not actually helping the main market as it takes a chunk of the scarce FTBs off the "used" houses, so there will be even less fuel for the chains to complete?

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Peston saying the banks will be annoyed with the levy.

He's probably right - they get furious at every piddling amount that doesn't fit in with their exponential expectations.

Exactly. Nothing has been done to rein them in.

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I'd rather it helped new homes (increase supply) and put existing houses at a disadvantage (lower asking prices to compete)

Good point, it might help encourage the building of new homes. These will also be first time buyer homes so smaller and cheaper to heat. Something the government probably also wants more of.

Edited by caparn

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  • 225 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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