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Osborne Says He's Not Worried About House Prices

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Chancellor George Osborne played down concerns that housing prices might rise too quickly as a result of new measures to support the sector.

Osborne also said the government will publish more details about its latest plan to support the housing market, Help-to-Buy, in the next couple of weeks.

He made the comments to parliament's Treasury Committee.

What a c**t! Who is this man, surely he can't have this much power to destroy our country?

My link

Or google "George Osborne defends controversial Help to Buy scheme" to read the FT article.

Edited by GloomMonger

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I don't think the second part of Help To Sell will be all that much at all.

The housing market has risen in anticipation, but could take a knock if this turns out to be just an optional, partial mortgage guarantee at a cost to the bank.

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I am now a fully fledged property "owner" - well 70 odd percent, the rest is the bank's, .

On that basis you would think that I would be happy about the ponzification of the economy.

Not a bit of it, no change in what I think about this situation. This man and his partty are nothing but short termist gamblers. This is nothing but theft - the expense ebing future tax, inflation and economic manipualtion/miaslignment and destruction. Will never, ever get my vote no matter the alternatives.

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why would he be concerned.

we've had schemes exactly the same as this for over a year, his latest scheme has been running since April, and generally, house prices are falling.

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Help to sell = help to defer a HPC until after the next election at least or until can think of new tricks to avoid facing up to big drops. ;)

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Of course they're not bothered, the whole point of it is to boost the housing market whilst saying its helps first time buyers. They said they wouldn't introduce it in the middle of a housing boom, so if they admit we're in one they'd have to scrap it, which they don't want to do. The second part of the scheme in January is huge, 130bn of new mortgage lending, that's almost an entire years worth.

It's like New Labour on immigration, saying it's not a problem , there won't be many people coming in, then of course the obvious happened and they admit years later that people were right to raise concerns. Same with this, we hear how it won't cause a boom, but it already has on the speculation its caused before its fully introduced, and people will say how could they have done it in a few years time. Scary times.

Edited by simon99

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I can see the return of MIRAS before the election, not only allows people to pay more of property (remember the property boom when they were removing the double MIRAS tax relief) but 'helps' buyers be on a par with BTL LL. Sure fire vote winner.

£110k mortgage @2.5%.. Interest £230/month. 40% tax relief (assuming it wasn't just the lower band) = £90/month.

MIRAS actually doesn't help as much in a disturbingly-low-IR environment.

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£110k mortgage @2.5%.. Interest £230/month. 40% tax relief (assuming it wasn't just the lower band) = £90/month.

MIRAS actually doesn't help as much in a disturbingly-low-IR environment.

FFS...MOST earners do not fall anywhere near the 40% band.

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There's more from our beloved Chancellor here:

http://uk.news.yahoo.com/osborne-says-not-worried-house-prices-110124293.html#h2xolf9 The comments are quite revealing.

Or google "George Osborne defends controversial Help to Buy scheme" to read the FT article.

Edited by GloomMonger

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There's more from our beloved Chancellor here:

http://uk.news.yahoo...93.html#h2xolf9 The comments are quite revealing.

Or google "George Osborne defends controversial Help to Buy scheme" to read the FT article.

now we also find out just who is running things:

"He said there was no prospect of a bubble inflating during the three-year lifespan of the scheme. A future chancellor would have to consult the BoE’s Financial Policy Committee before extending it."

We now have a Canadian Technocrat deciding future policy.

In any case..if the thing isnt to blow up a bubble...just WTF is it for?

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There's more from our beloved Chancellor here:

http://uk.news.yahoo...93.html#h2xolf9 The comments are quite revealing.

Or google "George Osborne defends controversial Help to Buy scheme" to read the FT article.

He pulled the rug quite smartly from under King, I thought. Nice to see the vile, old crook exposed as a liar in public by his former sponsor.

Mr Osborne claimed he held “lengthy discussions” before the March Budget with Sir Mervyn, who never objected to the proposal. “He has been supportive of things, including in this respect, we are doing to repair the broken financial transmission system. If he had said I strongly object to this scheme, that would probably would have killed it,” the Chancellor said.

The claim that Sir Mervyn was a backer of the plan comes as a surprise following his apparent earlier criticism. “This scheme is a little too close for comfort to a general scheme to guarantee mortgages,” he said in May.

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the only good thing I can find to say about Osborne is that he is, surely, better than Balls.

These house purchase schemes may well be beneficial just now, its when they come to an end that the fun and games could start - artificially propped up markets can't half drop quick when those artificial props are removed.

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My guess is that if it does bubble up prices they will withdraw it.

They are interested in keeping the prices flat IMO. If they fall then they will throw something else at it (likely).

No chance of them allowing a crash this side of the election if they have any say in the matter. It's just not going to happen.

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In any case..if the thing isnt to blow up a bubble...just WTF is it for?

Maybe they were, you know, just scratching around for something to spend 130bn on.

It's not as if it's a sinful amount of money to waste on something entirely inessential.

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"I don't think in the current environment a house price bubble is going to emerge in 18 months or three years," he said.

The International Monetary Fund, former Bank of England officials and some serving policymakers have been critical of the government's intervention.

Some in the banking industry have even called the policy moronic.

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I almost left the country when Osborne took over the reigns.

Had the misfortune to be in the same restaurant as him in the 90s - easily the most deeply unpleasant individual I've ever been near (apart from Ann Widdecombe).

He treated everyone other than his fellow diner as serfs - just a loathsome loathsome human being (at the time I was still a member of the Tory party - watching him and his ilk rise through the party despite their obvious lack of ability was one of the reasons I quit).

I don't think he cares about anything other than his own political aspirations and looking after his rich mates personally. Anyone worth less than 5 Million who thinks he has their best interests at heart is bonkers.

Edited by byron78

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I almost left the country when Osborne took over the reigns.

Had the misfortune to be in the same restaurant as him in the 90s - easily the most deeply unpleasant individual I've ever been near (apart from Ann Widdecombe).

He treated everyone other than his fellow diner as serfs - just a loathsome loathsome human being (at the time I was still a member of the Tory party - watching him and his ilk rise through the party despite their obvious lack of ability was one of the reasons I quit).

I don't think he cares about anything other than his own political aspirations and looking after his rich mates personally. Anyone worth less than 5 Million who thinks he has their best interests at heart is bonkers.

I've thought this for ages. In his own sad and incompetent way I think even Gordon Brown thought he was generally doing the best thing. Wheraes I believe Osborne knows that what he is doing is mad and dangerous but he's doing it anyway - and deliberately damaging millions of people is the work of a psychopath IMO

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  • 243 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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