Darkman Posted August 30, 2011 Share Posted August 30, 2011 The housing market will be plunged into "crisis"' without government action to address the "chronic under-supply of homes", a body representing housing associations in England has warned.The National Housing Federation (NHF) said the shortage was hitting home ownership rates and boosting rents. Those buying properties from some developers could receive a loan worth up to 20% of the value of the home from the government and the housebuilder.Pricedout.org said only a small number of those wanting to buy would be helped. http://www.bbc.co.uk/news/business-14708841 Quote Link to comment Share on other sites More sharing options...
exiges Posted August 30, 2011 Share Posted August 30, 2011 NHF meeting earlier Quote Link to comment Share on other sites More sharing options...
leicestersq Posted August 30, 2011 Share Posted August 30, 2011 http://www.bbc.co.uk/news/business-14708841 Sounds like this particular vested interest will be very happy to have tricked the BBC into publishing this piece of tosh. Good to see that Priced Out now has enough standing to be asked their views, and given that Priced Out want what is claimed to be the same objective, their opposition to it really flattens their case. Quote Link to comment Share on other sites More sharing options...
cybernoid Posted August 30, 2011 Share Posted August 30, 2011 (edited) Guy from bovis homes just on BBC, basically an appeal for more lending. Actually said that the problem is not affordability, it is just that ftbs don't have the deposits. So, erm, they can't afford it? Presenter 'questioning' him made no mention of prices. Edited August 30, 2011 by cybernoid Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 30, 2011 Share Posted August 30, 2011 http://propertytalklive.co.uk/social-housing/4793-cut-vat-to-turn-1m-empty-properties-into-homes 26 November 2010 Cutting VAT on domestic repair and maintenance work would help bring the one million empty properties across the UK back into use.Turning empty properties into homes would help tackle the growing housing crisis with five million people on social housing waiting lists as well as the 90,000 people living in temporary accommodation. Wow the Housing market has recovered quickly as we've got through the over-supply of 1m homes very quickly indeed. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 30, 2011 Share Posted August 30, 2011 Mickey Clark on Fivelive this morning said that he was almost unable to read Bovis's profit report through all the tears he had for the property firms and estate agents. He said that he reckoned that the NHF report was just softening us for something. Spot on Mickey. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted August 30, 2011 Share Posted August 30, 2011 (edited) NHF meeting earlier Whilst its good to see Pickles getting in the mix someone should have a word, its rude to look over someones shoulder, not very torylike at all Edited August 30, 2011 by Tamara De Lempicka Quote Link to comment Share on other sites More sharing options...
spyguy Posted August 30, 2011 Share Posted August 30, 2011 Hmm, They had some semi-public sector harpy on Today. Could not work out if she was very stupid or very untruthful. Apparently, house are up 25% since 2006! Wierd. In a number of areas I track, nominal prices are back to 2004 levels. At the moment they are stuck there as there are so few transaction occuring. All the while the number of unsold houses - or should-have-been-sold houses pile up. There must be about 30 months stock up for sale. The woman was from some housing assocation. My take on if the house builders are not building housing - or even if they were - is to remove the forbearance they are getting from the banks - mainly nationalised - let them go bust, and let some else pick up their up developed lank bank. Load of w*nk. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 30, 2011 Share Posted August 30, 2011 Home ownership 'to fall to mid-80s levels' Guardian headline. Quote Link to comment Share on other sites More sharing options...
stormymonday_2011 Posted August 30, 2011 Share Posted August 30, 2011 Guy from bovis homes just on BBC, basically an appeal for more lending. Actually said that the problem is not affordability, it is just that ftbs don't have the deposits. So, erm, they can't afford it? Presenter 'questioning' him made no mention of prices. Expect plenty of crocodile tears from the government, mortgage lenders and builders on this subject. I suspect the truth is that the last thing any of them want to see is extra housing supply undermining property prices as that will inevitably wipe out the balance sheets of the UKs teetering banks. If that means higher rents and people going back to living in 1950-60s property densities then they will be quite content. Quote Link to comment Share on other sites More sharing options...
Milton Posted August 30, 2011 Share Posted August 30, 2011 (edited) Expect plenty of crocodile tears from the government, mortgage lenders and builders on this subject. I suspect the truth is that the last thing any of them want to see is extra housing supply undermining property prices as that will inevitably wipe out the balance sheets of the UKs teetering banks. If that means higher rents and people going back to living in 1950-60s property densities then they will be quite content. +1 Grant Shapps said that he was determined to "pull out all the stops" to help first-time buyers. "That's why I've held summits with lenders, but made sure I didnt invite any First Time Buyers, and I've launched the FirstBuy scheme, which is a great way of stealing money from First Time Buyers, to give to banks and building companies, as a valuable alternative to the 'Bank of Mum and Dad' for those struggling to get together that much-needed deposit. My scheme is a carbon copy of Labours shared ownership scheme, which I publicly stated was ******ing useless. Vote Tory. I am a complete ******" Said Shapps Edited August 30, 2011 by Milton Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 30, 2011 Share Posted August 30, 2011 The woman was from some housing assocation. good grief Quote Link to comment Share on other sites More sharing options...
leicestersq Posted August 30, 2011 Share Posted August 30, 2011 Expect plenty of crocodile tears from the government, mortgage lenders and builders on this subject. I suspect the truth is that the last thing any of them want to see is extra housing supply undermining property prices as that will inevitably wipe out the balance sheets of the UKs teetering banks. If that means higher rents and people going back to living in 1950-60s property densities then they will be quite content. It would be great if we could go back to the housing density of those days. Quote Link to comment Share on other sites More sharing options...
Cinzano Bianco Posted August 30, 2011 Share Posted August 30, 2011 Those buying properties from some developers could receive a loan worth up to 20% of the value of the home from the government and the housebuilder. Pricedout.org said only a small number of those wanting to buy would be helped. More importantly, will we keep subsidising 20% forever, or is affordability going to come down eventually? What about in a few years time, when the next lot want to buy houses, and 20% isn't enough? Absolutely no long term view from the media, politicians, VIs at all. And another thing, if rents carry on going up, and people can afford less and less, naturally the (already shocking) quality of housing stock decreases even further. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 30, 2011 Share Posted August 30, 2011 They're running it over and over again. It seems that people can't afford to buy . Lots of daft solutions, but waiting for prices to fall is not amongst them . Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 30, 2011 Share Posted August 30, 2011 There is a shortage of affordable homes. they got that bit right, but not in the right context, that of the clients wanting a decent place for a fair sum, WITHOUT stupid borrowing. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 30, 2011 Share Posted August 30, 2011 Sorry, missed the other thread, mods please merge. http://www.housepricecrash.co.uk/forum/index.php?showtopic=168543 Quote Link to comment Share on other sites More sharing options...
nmarks Posted August 30, 2011 Share Posted August 30, 2011 (edited) It's been said before on this site so many times but its worth repeating: There are about one million unoccupied homes in the UK. If the BoE did its job and used interest rates to control inflation, the price of those empty properties would fall making them more affordable to first time buyers. The BoE could provide QE3 money to banks specifically for first time buyers to buy those empty homes. The banks do lots of business, their share prices rise, the bailed-out banks are sold off, the economy is stimulated and the UK's debts are slashed. That's the solution in an ideal world, but vested interests like construction firms can be guaranteed to exert their influence, scuppering the idea from the off. In other words a very small group are preventing progress by screwing things up for the rest of us, but then what's new? Edited August 30, 2011 by nmarks Quote Link to comment Share on other sites More sharing options...
moonriver Posted August 30, 2011 Share Posted August 30, 2011 Don't forget that they are discussing this subject on and off throughout the day on FiveLive, and asking for email comments. Grant Shapps was just on with the usual stuff, mentioned that house prices had been allowed to increase 300% over 10 years. Exiges elephant in the room remained unnoticed as usual though. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 30, 2011 Share Posted August 30, 2011 No mention of those of who could afford to buy now but choose to rent until the pyramid collapses. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted August 30, 2011 Share Posted August 30, 2011 There are plenty of homes in the UK. There is a perceived 'shortage' because liar loans have fueled speculation and resulted in a rentier landlord mentality. There will be plenty of homes in the UK for sale at reasonable prices if interest rates are allowed to reach market rates. Unfortunately, IRs will not be allowed to rise: Are you sure that this is true? Are those homes where people want to live? Are they habitable? I am sure that there are some homes out there that are empty and can be used, there always will be. At the moment though, the economic pressure is such that there will be very few. And empty home in London? The opportunity cost of leaving a home empty in London would be huge, it would be a crazy thing to do. I am sure that there are some examples of this, but there must be some personal or organisational reasons why the home has not been made available on the market. I bet that there arent very many like this. For those that are empty, squatting is the real answer. A legal system that permits squatting, and indeed gives squatters title, for places that have been left empty and unused. Note, the law should protect homes where the owner/occupier is on holiday, or there is a legal process going on such as after a death, and do vigorously. I would be willing to wager though, that the percentage of homes lying unused in places where house prices are still at near historic highs, is very low indeed. Quote Link to comment Share on other sites More sharing options...
200p Posted August 30, 2011 Share Posted August 30, 2011 More double think. Crisis is GOOD for the VI as scarcity = profit! We want more lending so FTBers can buy a 10% share in a shoe box! Quote Link to comment Share on other sites More sharing options...
koala_bear Posted August 30, 2011 Share Posted August 30, 2011 Worryingly Shapps on the today programme seems to think that IRs will stay low forever to help "affordability", he also noted that low IR were hindering people building up deposits. It didn't seems to occur to him that potential buyers might have twigged that IR can only realisitically go up in terms of months outgoing on a mortgage... In virtually the last words on the tody programme (0858) Ray Boulger admitted that " "the cost of buying a house is too high and that increasing the supply by building more homes would help drive down the cost. " I would also have liked Ray to explain the difference between cost and price At least the subject is getting some press coverage. Given this report was essentially done by housing associations who do well off the back of large housing developments, it is just an appeal to build more? Quote Link to comment Share on other sites More sharing options...
monks Posted August 30, 2011 Share Posted August 30, 2011 Never mind the price issue, there is a "ownership crisis" because people are allowed to collect properties like stickers for a Panini football album. The road I live on (very popular starter properties in relatively good area) is about 40% landlord owned. An EA is currently trying to tempt us into selling, and she told us (and I believe it) that often they don't bother printing particulars for these houses as landlords in London will buy without viewing. A stretched FTB who will probably start a family a few years later is no match for a multi-millionaire, asset rich landlord. Quote Link to comment Share on other sites More sharing options...
Riedquat Posted August 30, 2011 Share Posted August 30, 2011 Are you sure that this is true? Are those homes where people want to live? Are they habitable? Homes in those areas still shot up in price along with ones elsewhere. Although it's better if they're used they're not the problem when unaffordable prices are almost entirely the result of economic and financial stupidity, not supply. Quote Link to comment Share on other sites More sharing options...
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