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Ignoring the fact that at peak, house prices had trebled in little over a decade. Shapps is a d**k.

Edited by aSecureTenant

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He has 3 aliases...

Michael Green & Sebastian Fox.

Involved in dodgy book sales and seminars in Las Vegas.

Edited by weaker

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http://www.bbc.co.uk...litics-24321539

Watch the end of this interview on the BBC: 1.38.

"Property prices overall are still a quarter lower what they were at the peak".

That smells like BS.

Anyone got any stats?

http://www.espc.com/properties/details.aspx?pid=329252 Flats like that would be down about 50% from peak, so the story is different round the country, and this is the meme that Danny Alexander etc are running with today, prices are down on hard working families property outside certain London areas and this scheme helps them.

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Would it be too much effort for someone to point out to Schapps that peak prices corresponded with the collapse into bankruptcy of UK's entire financial services industry? Does he think a repeat of that eventuality would be a good thing?

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I guess if you adjust for 'inflation' maybe they are. But thanks to his lot, thats price inflation only.

Wage inflation hasnt anywhere near caught up with price inflation, even their micky mouse Indices.

So unless you can pay by selling your stash of baked beans bought in 2007 for 2007+ RPI, its a pretty meaningless comparison.

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There appears to be a line from the coalition that it's perfectly acceptable for London house prices to be through the roof.

How exactly can they justify that prices in London are around 30% above peak and rising and are now completely unaffordable for normal working folk.

If that's not a "boom" what is?

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There appears to be a line from the coalition that it's perfectly acceptable for London house prices to be through the roof.

How exactly can they justify that prices in London are around 30% above peak and rising and are now completely unaffordable for normal working folk.

If that's not a "boom" what is?

Their line (and to be fair labours too) seems to be if prices are high 'thats the free market' If they are too low :lol: (or as noted, 7% below a 1000 year bubble peak) thats because banks simply arent lending and we need government intervention to force them to lend.

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There appears to be a line from the coalition that it's perfectly acceptable for London house prices to be through the roof.

How exactly can they justify that prices in London are around 30% above peak and rising and are now completely unaffordable for normal working folk.

If that's not a "boom" what is?

They also keep saying it's not a boom because transaction levels are low.

I wonder why that is?

I am sick to death of this mickey mouse financial politics.

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He also said the other night on Question Time that HTB2 wouldn't cause a bubble because it would only cover 2% of transactions each year - whereas it's actually funded to cover more than 20%.

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He has 3 aliases...

Michael Green & Sebastian Fox.

Involved in dodgy book sales and seminars in Las Vegas.

What is it with this guy and the Tories? This story was spilled ages ago when he was housing minister and Cameron promotes him to Tory party chairman!

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He once said something sensible about house prices

http://redbrickblog.wordpress.com/2013/08/11/memo-to-grant-shapps-we-need-house-price-stability-signed-grant-shapps/

Shapps said that Ministers wanted to ‘engineer’ a period of house price stability, using the example of prices rising 2% a year while incomes rose 4%. The Mail at the time quoted him saying that homeowners should see their house as a home and not an investment and should no longer rely on their houses to fund their retirement.

A great shame he doesn't think like that now.

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is there anyway HTB/HTB2 could be legally challenged? moral hazard?

Moral hazard? Where do you start? The equivalent Federal Housing Authority program in the US which Obama used to 'rescue' the US mortgage market in 2009 just had to be bailed out for nearly $2bn. A leaked internal document put the prospective losses at $115bn over the next 30 years.

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It is interesting that whenever an interviewer highlights that possibly prices might boom, the standard answer is that "not to worry the Bank of England have many tools should that occur".

Could someone tell me when if the BOE has ever noticed a house price boom in the past. They didn't whilst Mervyn King was at the helm and I don't think Carney's record indicates he'd be tempted to act.

I can't understand why this hasn't be pointed out.

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He once said something sensible about house prices

http://redbrickblog.wordpress.com/2013/08/11/memo-to-grant-shapps-we-need-house-price-stability-signed-grant-shapps/

A great shame he doesn't think like that now.

Yes. He isnt an idiot. I just think camoron or hestletine or one of the other truly evil people in the tory party took him to one side and said something along the lines of if you want any future in politics, you'd better stop telling the truth and speaking sense. Thus he is now a fully paid up career politician who talks ********.

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He once said something sensible about house prices

http://redbrickblog.wordpress.com/2013/08/11/memo-to-grant-shapps-we-need-house-price-stability-signed-grant-shapps/

A great shame he doesn't think like that now.

Yes. He isnt an idiot. I just think camoron or hestletine or one of the other truly evil people in the tory party took him to one side and said something along the lines of if you want any future in politics, you'd better stop telling the truth and speaking sense. Thus he is now a fully paid up career politician who talks ********.

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Yes. He isnt an idiot. I just think camoron or hestletine or one of the other truly evil people in the tory party took him to one side and said something along the lines of if you want any future in politics, you'd better stop telling the truth and speaking sense. Thus he is now a fully paid up career politician who talks ********.

I wonder. He's not the first to do a sudden volte face on gaining power. I wonder if they get shown the real accounts, so to speak, and just go "oh, sh1t."

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