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spanman

Taxpayer Gifted Deposits Are Here

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"The Government wants to help tenants trapped in social housing as a result of these barriers to access home ownership."

Trapped is the only word they get right, but we're trapped for a very simple reason, house prices are to F*cking high.

What they are really saying:

"The Government wants to further inflate the housing market so they can make some more tax free gains for themselves and their buddies."

Edited by cool_hand

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Right......I want to buy with a 99% deposit + £30,000 to buy a new Jag....plus an option to buy the 1% at sometime in the future....if I can be bothered that is.

Buying a house is suddenly no big deal.

Vote Tory!!

Edited by council dweller

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So the government would give me some 'funny money' to help me buy a house valued at 'funny money' levels.

Kind of makes sense in a totally insane kind of way.

I can understand what they mean by trapped by social housing. Houses are too expensive, and private renting is too insecure, so its best to stay put until someone see's some sense! :blink:

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How long before this is made more widely available to FTB

It never will be. FTBs will only ever be loaned the money by the state, never given. Nothing comes for free if you aren't in the club i.e. were born in the wrong year and rent privately.

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It never will be. FTBs will only ever be loaned the money by the state, never given. Nothing comes for free if you aren't in the club i.e. were born in the wrong year and rent privately.

In Australia the State handed cash out to directly to FTB'ers. They called it the First Home Owner Grant or similar. Inflated prices nicely.

Quick example. In Queensland even today it looks like they'll give you $15,000 that never has to be paid back. Looks like it's only now for new or 'substantially renovated' houses. Don't think it was always thus.

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Of course builders will just increase the asking price by 20% before applying the 'discount', they'd be stupid to charge less than the buyer can afford to pay.

Exactly. It's always about affordability as the majority will always simply borrow as much as they can. I'm amazed that the government haven't figured out that old chestnut - supply and demand - yet.

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This was inevitable. How long before this is made more widely available to FTB, maybe even spun as some kind of 'investment' fund, like Norway's use of oil revenues?

The logical next step ,it happened in Australia for a short time ..it`s a negative sum game though as far as FTB`ers are concerned ,great for GDP/banks though and thats what it is all about

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In Australia the State handed cash out to directly to FTB'ers. They called it the First Home Owner Grant or similar. Inflated prices nicely.

Quick example. In Queensland even today it looks like they'll give you $15,000 that never has to be paid back. Looks like it's only now for new or 'substantially renovated' houses. Don't think it was always thus.

The UK has a weird culture where older homeowners want homebuying to be as financially painful as possible for the young so they can feel better about double digit interest rates and not having much furniture in their first house for a few months in the 1970s. The government won't hand cash to FTBs because older voters would demand it should be spent on them instead.

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The logical next step ,it happened in Australia for a short time ..it`s a negative sum game though as far as FTB`ers are concerned ,great for GDP/banks though and thats what it is all about

I'm no expert but I think it's still very much going on some 15 years later. Maybe start here and pick your preferred state if you're interested.

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The UK has a weird culture where older homeowners want homebuying to be as financially painful as possible for the young so they can feel better about double digit interest rates and not having much furniture in their first house for a few months in the 1970s. The government won't hand cash to FTBs because older voters would demand it should be spent on them instead.

In my 40 odd years on this planet I can say that I have never been given anything by anybody. I'm happy to and want to make my own way in life so am not upset about it. It makes you think about money (and particularly debt) in a very different way though. Expecting others to pay your way - what a disgraceful state of affairs.

Note: I'm not talking about those who are genuinely less fortunate than myself or who have genuinely fallen on hard times. I'm happy to make a contribution to a humane society. I'm talking about those that simply think the world owes them a living at somebody else's expense.

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In my 40 odd years on this planet I can say that I have never been given anything by anybody. I'm happy to and want to make my own way in life so am not upset about it. It makes you think about money (and particularly debt) in a very different way though. Expecting others to pay your way - what a disgraceful state of affairs.

Note: I'm not talking about those who are genuinely less fortunate than myself or who have genuinely fallen on hard times. I'm happy to make a contribution to a humane society. I'm talking about those that simply think the world owes them a living at somebody else's expense.

I'm not saying the government should be handing out cash to the young, I'm just saying that if it decides it has cash to hand out it won't be the young getting it.

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