spanman Posted February 21, 2015 Share Posted February 21, 2015 Apologies if already posted. https://uk.news.yahoo.com/council-tenants-offered-cash-buy-140034454.html#PIJkiBO Quote Link to comment Share on other sites More sharing options...
cool_hand Posted February 21, 2015 Share Posted February 21, 2015 Last time I looked I can get £17K if I buy a place. And £17K is going to do what in London? Quote Link to comment Share on other sites More sharing options...
spanman Posted February 21, 2015 Author Share Posted February 21, 2015 30K can go quite a way in some parts of the country. Quote Link to comment Share on other sites More sharing options...
CaptainSwing Posted February 21, 2015 Share Posted February 21, 2015 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? Quote Link to comment Share on other sites More sharing options...
cool_hand Posted February 21, 2015 Share Posted February 21, 2015 (edited) "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 February 21, 2015 by cool_hand Quote Link to comment Share on other sites More sharing options...
John The Pessimist Posted February 21, 2015 Share Posted February 21, 2015 So my council taxes will underwrite houses for others, while I struggle for shelter...... If this naked clientelism is not fought by everyone, we will deserve everything we get as a result! Quote Link to comment Share on other sites More sharing options...
cool_hand Posted February 21, 2015 Share Posted February 21, 2015 Why don't they just build some more Council Housing? Quote Link to comment Share on other sites More sharing options...
Imminent_plunge Posted February 21, 2015 Share Posted February 21, 2015 Extended to private renters in the name of fairness? Ah. Thought not. Just another election gimmick. Quote Link to comment Share on other sites More sharing options...
CaptainSwing Posted February 21, 2015 Share Posted February 21, 2015 Why don't they just build some more Council Housing? Lol It seems there is a systematic bias against building by any agent, be it state or private sector. It's pathetic really. Quote Link to comment Share on other sites More sharing options...
Imminent_plunge Posted February 21, 2015 Share Posted February 21, 2015 Council housing would kill the rentiers. Best pay billions to those who can't afford the 'market rent' which discombobulates with what people actually earn and can afford without government hand-outs. Quote Link to comment Share on other sites More sharing options...
cool_hand Posted February 21, 2015 Share Posted February 21, 2015 Here's an idea: end all market interference and lets see where we are? Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 21, 2015 Share Posted February 21, 2015 (edited) Also this First-time buyers under 40 to be offered 20% discount on 100,000 new homes starting next month http://www.dailymail.co.uk/news/article-2874507/First-time-buyers-40-offered-20-discount-100-000-new-homes-starting-month.html Edited February 21, 2015 by long time lurking Quote Link to comment Share on other sites More sharing options...
CaptainSwing Posted February 21, 2015 Share Posted February 21, 2015 They're fast tracking things like this because the game's up in May. Quote Link to comment Share on other sites More sharing options...
council dweller Posted February 21, 2015 Share Posted February 21, 2015 (edited) 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 February 21, 2015 by council dweller Quote Link to comment Share on other sites More sharing options...
EUBanana Posted February 21, 2015 Share Posted February 21, 2015 Another reason not to vote Tory... as if we needed any more. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted February 21, 2015 Share Posted February 21, 2015 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! Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 21, 2015 Share Posted February 21, 2015 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. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted February 21, 2015 Share Posted February 21, 2015 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. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 21, 2015 Share Posted February 21, 2015 Also this http://www.dailymail.co.uk/news/article-2874507/First-time-buyers-40-offered-20-discount-100-000-new-homes-starting-month.html 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. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted February 21, 2015 Share Posted February 21, 2015 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. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 21, 2015 Share Posted February 21, 2015 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 Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 21, 2015 Share Posted February 21, 2015 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. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted February 21, 2015 Share Posted February 21, 2015 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. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted February 21, 2015 Share Posted February 21, 2015 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. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 21, 2015 Share Posted February 21, 2015 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. Quote Link to comment Share on other sites More sharing options...
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