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'first Home Buyer's' Scheme Getting Plugged On The Radio In Between The Motability Ads.

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obviously,it's a nice touch for the builders and bankers,whose boards can get some more money off the table before the computer says no.

If they didn't want to make it so obvious that that's what it's all about then why is it only for new homes?

It makes me have to ask - should anyone take this up, thus helping keep the over-priced house over-priced, or just think of themselves? (assuming for some reason that they can't simply wait it out)

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Hobbling of first-time buyers

A £250 million scheme to hobble first-time buyers with new-built shacks has been launched.

Under the First Buy scheme, taxpayer scum and the crooked house builders will jointly provide a 20 per cent loan to top up first-time buyers’ own deposit of 5 per cent. This will allow them to take out a mortgage for 75 per cent of the property that in the real world on real terms they cannot actually afford.

Loans will be free of charge for the first five years and repaid when the property is resold, which will be never due a new builds value dropping like a stone and a falling housing market leading negative equity. The funds will then be recycled to fund more homes for the scheme, like with any good ponzi scheme.

The First Buy scheme should lumber 10,000 families with a badly constructed house that they'll be trapped in for at least a two decades, with the first homes expected to be available from September 2011.

A Government spokesman said, "We stand 100% behind shovelling taxpayer cash into the deadbeat housing market to keep it propped up. The UK economy (banana republic) relies on house flipping and the financial services associated with this, under no circumstances can we allow this to fail."

Fixed for them, free of charge :)

Edited by MrFlibble
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Thanks for the wind-up :)

I've just emailed Shapps yet again with,

"Are you going to continue with this scheme?

Osborne recently stated in his speech that house prices were 'unrealistic', and we had suffered from the 'biggest property bubble ever'.

So he realises that prices are way too high, and you continue to inflate prices by promoting this over valued sham. Do you not communicate with other members of this so called government?

Do you not think that you scheme is immoral?

Oh well, back to paying the rent. Many thanks.

BTW, any news on this self build idea you had. I've not heard anything for ages now."

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This scheme may make more sense than we're giving it credit for.

Money for new-build supports prices selectively. Builders get the benefit, speculators don't. So that's money going into the productive part of the housing market and helping more houses to get built.

Still of course wrong, but not so totally misplaced as many that have gone before.

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Shovelling cash into the housing market to benefit the banks.

Shovelling cash into the motability scheme that the banks own as well.

At least it's all above board. Well at least it's not as if they're thieving bottles of water :lol:

Edited by billybong
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You seem to be missing the fact that new houses get built.

I don't expect they will be houses! They will be "homes"! Cardboard flats! :huh:

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new houses get built for profit on land that they've bought speculatively

The difference is that they do end up doing something with it. Speculation IMO is simply buying something in the hope of flogging it for a higher price later without attempting to add value, and is therefore damaging because it only wants to push prices up. Economically useful activity can be spotted because it involves actually doing some work.

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