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GloomMonger

Htb Propaganda From The Msm

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Obviously an invented story to push HTB. It's not fooling those that commented on the article though.

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Amy and James are the happiest couple I know. After years of living in over-priced, under-heated, bug-biting rentals, the pair, both in their early thirties, are about to move into a home of their own.

The flat, part of a new development in Cambridge, is “deceptively spacious”, in estate agent parlance. Or, as we say in English, small. Still, there’s a cool kitchen-living area, a master bedroom and a dinky second room, compact accommodation for one hungry supermodel or a baby. Hallelujah!

With the security of their own place, the lovely Amy and James might even consider breeding. Remember reproduction? Cast your minds back, folks. This is a traditional human activity which has practically died out in the early 21st century among educated young professionals, who will be 49-and-a-half before they can afford a deposit on a bijou dump in Catford.

Incredibly, that situation is going to get worse. House prices will rise by nearly a quarter over the next five years, the Centre for Economics and Business Research predicted this week. The average, bog-standard London house will cost a staggering £500,000. An Englishman’s home is now Roman Abramovich’s castle.

Sorry, but this is no longer a property ladder. It’s the North Face of the Eiger in FitFlops. How are any normal people meant to clamber up? So, cue trumpet fanfare and town crier: “O yay! O yay! Young British couple manages to buy own home!”

Six months ago, Amy told me she was trapped in a vicious circle. On an above-average income, but paying rent of £650 a month, plus bills and petrol, she was finding it hard to save a fraction of the deposit she and James would need for a flat.

James couldn’t help. At the age of 32, he was still paying off the last of his student loan. I suggested that they look at the Government’s new Help to Buy scheme. Amy shook her head sadly. She had £9,000 in the building society. The entry point for a new-build flat in Cambridge is a vertiginous £300,000. James and Amy needed a deposit of £30,000. Frankly, they had more chance of eating sushi on Saturn.

I managed to persuade Amy to find out more about Help to Buy. She and James talked to a local developer and were told that a downpayment of 5 per cent would be enough: the Government would make up the rest. Their monthly repayments of £1,100 would be less than they both waste at present on rent and there would be no interest charge for the first five years.

The couple began a frantic hunt for coins down the back of the sofa. James got a modest bequest in his grandmother’s will and took on over-time at work. Amy’s mum was downsizing and was able to throw a few thousand into the pot. A sale of belongings on eBay including a much-loved piano got them over the target of £15,000 and James’s brothers chipped in to help with the eye-watering £9,000 in stamp duty.

Marvelling at the drawings on a computer screen of their first home, James and Amy learnt that all the other flats in their block had been bought off-plan and unseen by wealthy Arabs and people from Singapore. Buyers who had no intention of living here, let alone making a contribution to society. For foreigners, a British property is a fantastic investment. For Amy and James and millions like them, a home in their homeland was almost an impossible dream. Until now.

As the party conference season, with its mortifying display of male turkey-cocking draws to a close, it’s worth remembering that there are policies which make a huge difference to real lives. George Osborne has attracted enormous flak for his Help to Buy scheme. “It will create a further housing bubble!” scream the doomsters. “Taxpayers will have to pick up the tab for mortgage defaults!” Boo hiss!

Well, I am no economist, but it seems to me that aspirational couples like Amy and James will look at emigrating if they can’t buy a small stake in their own country. They are unlikely to default on their mortgage: after all, their repayments will be cheaper than renting. Much better to be an owner than to pay ever-rising rents with no return. Owning a property outright by retirement age will put them in a safer position than paying rent out of a small, or non-existent, pension. And they are less likely to become a burden on the state.

As taxpayers, we give billions a year to people who haven’t got a hope in hell of paying it back. What a pleasant change to advance money to Amy and James, who will do their damnedest to earn it. “I don’t want to be the Prime Minister who stands aside and says you can only buy a flat or house if you’ve got rich parents like me,” said David Cameron.

OK, he didn’t say the “like me” bit. The fact remains that the Tories have a hugely popular vote-winner on their hands if Cameron’s “land of opportunity for all” doesn’t turn out to mean “all earning more than 60 grand a year”.

As for Amy and James, their flat-warming party is in November. They are as thrilled as I remember my grandparents being when they bought their council house under a Conservative government back in 1980. Stymied by house prices and burdened with university fees, Amy and James’s generation has become despairing and disillusioned as they carry the can for the errors of their elders. What better way to restore hope than by handing them their very own front-door key to the land of opportunity?

Edited by GloomMonger

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why are rentals always described as total shit-holes in these pieces...if all they could afford WAS a shit-hole then how can they even qualify for a mortgage?...or are they just stupid sheep that accept living in a shit-hole is their lot in life.

Would you accept a piece of crap car from a rental company?

No, no more than a peice of crap car is acceptable from a dealer when you BUY.

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So how is £1100 a month mortgage cheaper than £650 rent ?? If they were living in separate rental properties paying that each then why the hell did they not share ?

So £24k down and they still have £285k to pay back..lucky gits ...

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Marvelling at the drawings on a computer screen of their first home, James and Amy learnt that all the other flats in their block had been bought off-plan and unseen by wealthy Arabs and people from Singapore. Buyers who had no intention of living here, let alone making a contribution to society. For foreigners, a British property is a fantastic investment. For Amy and James and millions like them, a home in their homeland was almost an impossible dream. Until now.

So they are the only owner-occupiers in their building, and the landlords of all the others live thousands of miles away.

That in itself would stop me buying somewhere.

And why didn't these wealthy Arabs / Singaporeans snap up their flat when they had bought all the others ?

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Interesting to note that the happiest people this journalist knows didn't fancy sharing a place beforehand. Wonder how well that relationship is going to go...

Either that or ignorance is truly bliss and they were indeed paying 1300 a month for a "deceptively spacious" place in Cambridge with bugs and no heating.

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I'm struggling to work out whether that article is extolling the virtues of HTB or completely the opposite. If the former, it's an impressive parody.

I'm with you on this one; I started reading it and thought it was taking the mickey, but towards the end I started to think they were serious.. It has to be a joke, or else the author needs help.

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Obviously she has only 2 friends in the world. Nevermind they are balls deep in debt now so they will hate you with venom soon enough.

The happiest person I know is Mortgage free, retired at 45 full BT pension (in the late 80's), no car, cycles everywhere, drinks like a fish and partner dances 3-4 times a week to live music. When we had £850 a month to find we were very nervous, lost my job when it was at £550 a month, very very hard times. Now £300 thank fuh. Anyone happy about £1100 a month must be pill popping.

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