OnionTerror Posted October 21, 2014 Share Posted October 21, 2014 (edited) http://www.dailymail.co.uk/news/article-2801772/Lib-Dems-ENTIRE-manifesto-snapped-photographer-reveals-tax-cuts-English-test-dole-20-hours-free-childcare-children.html On housing, more help is promised for people struggling to get on to the property ladder. It includes a 'new model of affordable housing' where rent payments earn a stake in a home, 'creating a path to home ownership for lower income working families'. Hmmm...Don't know what to make of this... Edited October 21, 2014 by Dave Beans Quote Link to comment Share on other sites More sharing options...
Corruption Posted October 21, 2014 Share Posted October 21, 2014 http://www.dailymail.co.uk/news/article-2801772/Lib-Dems-ENTIRE-manifesto-snapped-photographer-reveals-tax-cuts-English-test-dole-20-hours-free-childcare-children.html Hmmm...Don't know what to make of this... Irrelevant, as the Limpdums are about to be consigned to history. Quote Link to comment Share on other sites More sharing options...
OnionTerror Posted October 21, 2014 Author Share Posted October 21, 2014 Irrelevant, as the Limpdums are about to be consigned to history. Unless they slip in under the radar again...one of the others will probably nick the idea anyway... Quote Link to comment Share on other sites More sharing options...
Guest Posted October 21, 2014 Share Posted October 21, 2014 Make a payment every month and you build up equity in a house? Isn't this called a mortgage? Quote Link to comment Share on other sites More sharing options...
OnionTerror Posted October 21, 2014 Author Share Posted October 21, 2014 Make a payment every month and you build up equity in a house? Isn't this called a mortgage? ..although wrt rentals, social housing is typically cheaper than private...round my way, i.e you pay £80-100 a week say for a two bed mid terrace, or private rent could well be £550 p/m, and a mortgage is £750 p/m... Quote Link to comment Share on other sites More sharing options...
winkie Posted October 21, 2014 Share Posted October 21, 2014 I think I do.....in the days of Thatcher, that was the argument that allowed people that had been social tenants for many years 20 or 30 paying social rent all those years, they were in effect sitting tenants that could pass from Father to Son.....they may have paid for the house in rent and by selling at a discount would give them something they had already paid or almost paid for, but would then have full responsibility of the care and maintenance, new roof, painting windows etc that was not cheap. Cash into the coffers...that they fritted away on stuff they needed to pay for at the time, instead of investing in new social housing for a new generation of need. Quote Link to comment Share on other sites More sharing options...
Guest Posted October 21, 2014 Share Posted October 21, 2014 It'll just be another shared ownership-style scam, where a favoured demographic can kid themselves that they have obtained an 'affordable' home. The rest of us, less gullible or less electorally important, will be left at the mercy of the private market of fantasy asking prices. And I guarantee there'll be small print allowing some middleman to skim from the tenant's productivity in perpetuity, one way or another. These mechanisms appear to be designed to prevent proper price discovery - if the average worker can only afford £x to house themselves, then that is what houses have to cost. Adding a government scheme in the middle allows people to pretend houses are worth whatever they want - the government ensures that that £x supports many times that value in valuations. Quote Link to comment Share on other sites More sharing options...
OnionTerror Posted October 21, 2014 Author Share Posted October 21, 2014 (edited) I think I do.....in the days of Thatcher, that was the argument that allowed people that had been social tenants for many years 20 or 30 paying social rent all those years, they were in effect sitting tenants that could pass from Father to Son.....they may have paid for the house in rent and by selling at a discount would give them something they had already paid or almost paid for, but would then have full responsibility of the care and maintenance, new roof, painting windows etc that was not cheap. Cash into the coffers...that they fritted away on stuff they needed to pay for at the time, instead of investing in new social housing for a new generation of need. Yep, I think you're right...It would go like how shared equity works now...If your boiler/roof/plumbing whatever, packs up, then its your responsibility..A mate of mine works as a Plumber for a social housing provider..anything between 60% and 80% of his workload is fixing problems with new builds. Edited October 21, 2014 by Dave Beans Quote Link to comment Share on other sites More sharing options...
pig Posted October 21, 2014 Share Posted October 21, 2014 It'll just be another shared ownership-style scam, where a favoured demographic can kid themselves that they have obtained an 'affordable' home. The rest of us, less gullible or less electorally important, will be left at the mercy of the private market of fantasy asking prices. And I guarantee there'll be small print allowing some middleman to skim from the tenant's productivity in perpetuity, one way or another. These mechanisms appear to be designed to prevent proper price discovery - if the average worker can only afford £x to house themselves, then that is what houses have to cost. Adding a government scheme in the middle allows people to pretend houses are worth whatever they want - the government ensures that that £x supports many times that value in valuations. But then you've got Dave Beans point #5. If price is really is based on social rents then what you've got is a scheme for potentially large numbers of housing connecting back to price sanity. Still, they've got a long way to persuade that they wouldn't feck it up with everybody from the taxpayer to the tenant somehow getting screwed over by developers... Quote Link to comment Share on other sites More sharing options...
OnionTerror Posted October 21, 2014 Author Share Posted October 21, 2014 (edited) But then you've got Dave Beans point #5. If price is really is based on social rents then what you've got is a scheme for potentially large numbers of housing connecting back to price sanity. Still, they've got a long way to persuade that they wouldn't feck it up with everybody from the taxpayer to the tenant somehow getting screwed over by developers... ..although with shared equity, AFAIK, they use market rates to determine the price of the house...so would your rent cover less equity or would it cause the "rent" to move north? (I could image people who wouldn't qualify for a mortgage for example...no deposit/don't meet lending criteria, etc going for this)... Edited October 21, 2014 by Dave Beans Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted October 21, 2014 Share Posted October 21, 2014 That would be a great idea? Can I call my private landlord and tell hime how much of his banks property I now own? Joking aside: Isn't this a cleaver way to hike up rent by a lot? Quote Link to comment Share on other sites More sharing options...
Lifes a game Posted October 21, 2014 Share Posted October 21, 2014 Perhaps they should bring back slums, then the poor tenants can own one rather than rent one. Quote Link to comment Share on other sites More sharing options...
wonderpup Posted October 21, 2014 Share Posted October 21, 2014 These mechanisms appear to be designed to prevent proper price discovery +1 The entire 'recovery' is based on the holographic image being maintained by QE, ZIRP, Help to Buy ect. Any interruption in the flow of money into the projector would reveal the debt ridden wasteland the situation actually is. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted October 21, 2014 Share Posted October 21, 2014 Already happens under Right To Buy, and thanks to the Localism Bill I am now eligible to buy my Council flat at a 50% discount! Ain't I lucky! So in a sense I've built equity because I'd get a 60k flat for half that. Only snag is that back in 2008 they were going for less than 30k Quote Link to comment Share on other sites More sharing options...
Dorkins Posted October 21, 2014 Share Posted October 21, 2014 Already happens under Right To Buy Yep, this is just another innovative scheme to give publicly owned housing to a chosen few at a knockdown price. If the state sold off its housing at market price it would have money to build more housing. By selling at a discount it reduces its own ability to supply housing, worsening the housing crisis. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted October 21, 2014 Share Posted October 21, 2014 Theres a word for this...what is it....oh yes, a mortgage. What innovative policies will the lib dems come up with next? Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted October 21, 2014 Share Posted October 21, 2014 Don't get too exercised about this. It's in the LibDems manifesto, so we all know what it's worth. Quote Link to comment Share on other sites More sharing options...
billybong Posted October 21, 2014 Share Posted October 21, 2014 (edited) Lib Dem strategy chief Ryan Coetzee caught carrying draft file in Whitehall "Caught" as in it was presented to the photographer to photograph. They needn't have bothered as they'll be able to pick that stuff up for free after the election as just another pile of litter blowing along London's Embankment. Edited October 21, 2014 by billybong Quote Link to comment Share on other sites More sharing options...
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