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Are The Media Changing Their Tune?

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Surprisingly, green shoots of common sense are starting to appear:

http://www.guardian.co.uk/business/2011/mar/27/firstbuy-scheme-fears-falling-property-market

"Firstbuy could lock young homebuyers into falling property market"

http://blogs.telegraph.co.uk/finance/ianmcowie/100009677/why-it-makes-sense-to-hope-for-a-house-price-crash/

"Why it makes sense to hope for a house price crash"

http://www.telegraph.co.uk/comment/columnists/janetdaley/8408561/Slashing-taxes-would-make-us-all-better-off.html

"There was even a shared equity scheme for first-time buyers in which the Government – instead of tackling the question of why properties are so over-priced – will go into partnership with people who want to buy otherwise unaffordable homes."

I do feel that the prevailing mood has shifted.

Or perhaps this is just because the Times has gone behind a paywall and nobody is posting links to articles by David Smith and Anne Ashworthless any more?

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Perhaps they have cashed in BTLs, and they just want to ramp down property for their own ends. I have no doubt we'll come full circle.

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http://www.telegraph.co.uk/finance/comment/liamhalligan/8408664/Britains-leaders-should-come-clean-on-the-true-depth-of-the-fiscal-crisis.html

What matters to the finances of any household is the size of the outstanding mortgage, the on-going costs of financing that mortgage, and the prospects of paying it off. Only an economically illiterate fool would claim the family finances will soon be "under-control" because sacrifices will be made and lifestyles reined-in to such an extent that, hopefully, if everything goes to plan, having re-mortgaged every year between now and 2015, that family will then enjoy a single year in which it won't need to re-mortgage.

That's the battle cry – "In five years' time, we may not need to re-mortgage!" These are the ludicrous terms under which the UK's fiscal debate is being conducted. What will our children and grandchildren think of us?

In 2009, the UK spent £31bn – around 6pc of total tax receipts – on debt interest payments. That's money down the drain. By 2015, we won't have reached, in Churchill's words, some "broad sunlit upland". After four more years of deficits, debt services costs, according to last week's Budget, will by then be £67bn a year – or almost 10pc of total tax receipts. These shocking numbers are also likely to be under-estimates, given the UK's massive "off-balance-sheet" liabilities and the Treasury's benign assumption of future gilt rates.

The lack of true fiscal retrenchment, together with rising inflation and its impact on welfare payments, means that the Office for Budget Responsibility now estimates debt service costs will be £4.7bn higher during the current fiscal year than Osborne forecast during his last budget. That's equal to more than a penny on income tax. Over the next five years, on last week's numbers, total debt service costs will now be some £18bn higher than before.

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http://www.guardian.co.uk/politics/2011/mar/27/liberal-democrats-mutiny-benefit-cap

Liberal Democrats in mutiny over benefit cap of £500 a week for families

Comment:

"£500 per week is £26,000 per year, which is equivalent to an annual gross, pre-tax, salary of £36,000 per year. Millions of working families, who don't claim benefits, can only dream of a household income of £36,000 a year.

This is an enormously generous rate of benefits, paid for by taxing working people earning as little as £8,000 a year. Perspective."

Some media might be changing their tune but as for some political parties??

Edited by billybong

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Or perhaps this is just because the Times has gone behind a paywall and nobody is posting links to articles by David Smith and Anne Ashworthless any more?

Anne Ashworth? She is "property journalist of the year" don'tcha know... (Lots of VI piffle - presumably lapped up by whoever makes such an award...)

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We need to form our own think tank. Then people will take us seriously.

that sounds like a good idea actually, here is my suggestion for a title, in honour of the daily mash

Institute for Property Investment in Society Studies (I-PISS)

More academic sounding names may be preferable

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  • 311 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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