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Government Hides Risk Of Controversial Help To Buy Scheme

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It's part of a Scorched Earth policy.

HTB..."will overheat the housing market and “detonate a bomb” under the British economy." They mean under the incoming Labour Government. :D

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How they can blame browns bubble every day whilst pumping up their own at the same time is amazingly hypocritical. Brown at least thought he had abolished boom and boost, Osbourne is being told his plan is moronic and still pushes forward.

A plan to help hardworking families afford their own home by making them even more expensive whilst reducing housing on the supply side? How this man has the nickname "knowledge" is beyond me, must be some sick joke. He should be jailed for this willful sabotage when it all blows up.

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How they can blame browns bubble every day whilst pumping up their own at the same time is amazingly hypocritical. Brown at least thought he had abolished boom and boost, Osbourne is being told his plan is moronic and still pushes forward.

A plan to help hardworking families afford their own home by making them even more expensive whilst reducing housing on the supply side? How this man has the nickname "knowledge" is beyond me, must be some sick joke. He should be jailed for this willful sabotage when it all blows up.

I agree with you. Osborne starts out saying the economy is unbalanced and we need an export led recovery. We have a steadily falling house price by about 2% pa and a little more (excluding London problem) AND WHAT DOES HE DO? PUT A BOMB UNDER THE BRITISH ECONOMY - PUMP PRIME WITH AN IDIOTIC SCHEME THAT CAN ONLY HARM THE PROSPECTS FOR THE MAJORITY OF Britons.

He has put this in place to overcome an endless set of sluggish or nil growth figures. Meantime exports have been falling, the balance of payments is the worst for 25yrs and savings their lowest for 40 yrs. We now learn from Public accounts committee that there is a big Q over the borrowing figures announce by Osborne - he says £90 billion borrowed last yr - the figures suggest £185bn !!!! A staggering difference. I certainly doubt Osborne's figure - there is nothing happening to support that level of fall in borrowing from about £185bn pa. Jiggery pokery??

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How they can blame browns bubble every day whilst pumping up their own at the same time is amazingly hypocritical. Brown at least thought he had abolished boom and boost, Osbourne is being told his plan is moronic and still pushes forward.

Cos it's only the people on this site who think browns bubble needed popping.

Everyone else was happy with the easy credit and liar loans.

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All politicians base property statistics on 2007 and treat both prices and transactions as if this was not a bubble and prices in the previous decade were normal and linked to things like earnings rather than pumped up with loose credit which peaked in 2007.

Now the mantra is; There was no bubble, there was no double dip recession, there is no bubble now.

+1

By not doing so, it allows them to avoid the correction and switch on the credit pump in time for an election. Total bastards the lot of them.

Nobody saw it coming. Now there was nothing to see.

Edited by tinker

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Ed Miliband Promises to Double Rates of Housebuilding

I typed elsewhere today (link above) about BathNes Council having to double the figure of "market value" homes needed in order for developers to feel they can build the 3000 + affordable homes needed, and I have asked, what happens when the market finally adjusts so that "market value" homes become affordable at reasonable LTV rates based on wages and at around 7% , will this mean that developers will not be able to afford to build ANY homes?

I am just a very ordinary uneducated person trying to make sense of how the market can have BUBBLED like it did, and without QE, FLS , HTB etc would have fallen 30 to 50%, yet now apparently nobody can afford to build homes which are "affordable"! How does an ordinary uneducated person like myself make sense of this, or make sense of how the Government CAN hide the RISK of keeping property prices artificially inflated and "unaffordable" given that so few people CAN afford property at the still inflated bubble prices.

Recently Carney warned people not to think that property prices only go up and he said that there would be no bailing out in the future.

What is more, aren't the government ONLY lending the deposit BECAUSE banks/ building societies don't want to take on the risk of a potential 20 to 30% drop in house prices, they want buyers take on the risk ? So are we saying the government think the banks /building socieites and their advisors are all WRONG that there is no risk in giving people 95% mortgages on over inflated properties?

So the banks building societies KNOW the risk, "a string of independent housing experts" know the risk of "detonating a bomb" under the British economy, AND the government know the risk but are hiding it because all that matters is media ramping of PROPERTY PRICES GOING UP 35% BY BLAH BLAH BLAH and the head in the sand "feel good " factor, is that correct? But still I don't 'get' it, surely there is MORE doesn't feel good factor around than there is a "feel good factor" isn't there? Didn't something like 60% of people surveyed in relation to HBT 2 say they would prefer to see house prices come down, so wouldn't they VOTE for a government who allowed property prices to deflate to "affordable" and a started to get the whole economy moving by not proping up artificially the housing market? I don't really 'get' why this government isn't doing this given that they can BLAME the previous government for inflating an unsustainable bubble, but I guess this unsustainable bubble is currently seeing politicians doing very nicely thank you ...and that is really all that matters isn't it...oh yes and keeping investors happy ...

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I agree with you. Osborne starts out saying the economy is unbalanced and we need an export led recovery. We have a steadily falling house price by about 2% pa and a little more (excluding London problem) AND WHAT DOES HE DO? PUT A BOMB UNDER THE BRITISH ECONOMY - PUMP PRIME WITH AN IDIOTIC SCHEME THAT CAN ONLY HARM THE PROSPECTS FOR THE MAJORITY OF Britons.

He has put this in place to overcome an endless set of sluggish or nil growth figures. Meantime exports have been falling, the balance of payments is the worst for 25yrs and savings their lowest for 40 yrs. We now learn from Public accounts committee that there is a big Q over the borrowing figures announce by Osborne - he says £90 billion borrowed last yr - the figures suggest £185bn !!!! A staggering difference. I certainly doubt Osborne's figure - there is nothing happening to support that level of fall in borrowing from about £185bn pa. Jiggery pokery??

sounds almost like they dont give a damn about the Country.

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How they can blame browns bubble every day whilst pumping up their own at the same time is amazingly hypocritical. Brown at least thought he had abolished boom and boost, Osbourne is being told his plan is moronic and still pushes forward.

Does Osborne own a house ?

Do his friends and family all own houses ?

What we might have here is just plain old greed/stupidity/serving your own kind.

When Osborne started to fight the bankers case using tax payers money it was time for him to go.

I have no idea why the other home owner MPs stand for his schemes !!!

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affordable homes = oxymoron

Indeed.

In years to come, we'll be talking about affordable energy, affordable food and so on.

There will be "schemes" to help hard-working families with these things.

Paid for by redistribution of taxation and on-going money printing.

Will the last person to leave please turn the lights off. Thank you.

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