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pokercola

Times Front Page - Housing Market Meltdown After Stamp Duty Reforms

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Housing market meltdown after stamp duty reforms

http://www.thetimes.co.uk/tto/life/property/article4607230.ece

For those that don't subscribe:

Factors blamed:

Stamp duty (even though article states this only affects houses over £1 million!) :blink:

Lack of building

Shortage of properties

MMR

NO MENTION AT ALL of prices being a touch on the high side.

Case-study of a lad who is a 'songwriter and works for his local church' and now is proud owner of 35% of his own home.

Edited by pokercola

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Don't need to be a subscriber to read it. As with many other newspapers, the technical excellence of their IT team left the entire article in the source of the page. It's only hidden to the eye.

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Middle class are £1m borrowers??? Surely at that level they are way beyond middle class?

take a step back.

look at the numbers.

look at the UK economy.

look at the global economy.

look at what happened in 2007

look where interest rates still are.

look at the sales volumes.

look at the propaganda.

look at who is borrowing.

looks at who is lending.

look where we were for 5 years leading up to the election.

look at the list of schemes to "help" people buy.

look at use insane prices in London.

look who was buying in London.

factor all that in and you'd have to come to the conclusion that the housing market is ####ed.

anyone buying into it deserves what ever comes to them.

caveat emptor.

bonnet de douche

Edited by TheCountOfNowhere

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Don't need to be a subscriber to read it. As with many other newspapers, the technical excellence of their IT team left the entire article in the source of the page. It's only hidden to the eye.

Wish I understood this :)

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Middle class are £1m borrowers??? Surely at that level they are way beyond middle class?

Nah they just bought their Putney semis in 1965 for 3k and are now looking to do a swap with another boomer at one million, except the stamp duty is putting them off.

You don't think housing equity is actually earned, it's just a boomer swaperama and becomes a family concern post death thanks to generous inheritance tax.

Edited by crashmonitor

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Nah they just bought their Putney semis in 1965 for 3k and are now looking to do a swap with another boomer at one million, except the stamp duty is putting them off.

'I am appalled that to crystallise my hundreds of thousands of pounds of unearned wealth, I have to pay the tax-man a relatively insignificant sum'

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Smiley young couple pictured (29 & 30) had been renting two-bed flat for 7 years in Brighton, but bought into Shared Ownership 35% +rent for three-bed. I shudder at SO (when it's just a fancy tenancy) but for those who decide to do it, buying small share and not staircasing up looks least worse route. When coming to sell you're a bit more likely to find a buyer when looking for 25%-35% of price + rent, rather than having staircased upto 100%. If buyers could find 75%-100% they wouldn't be looking at SO. And in a hpc your share is less affected at 35%. Although would rents fall, and what other nasties.

Johnny Morris, head of research at Countrywide, the largest estate agency, added: “Home ownership has been declining for ten years as more young people are forced to rent, but landlords don’t buy and sell as often as owner-occupiers, and that affects supply.

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Don't need to be a subscriber to read it. As with many other newspapers, the technical excellence of their IT team left the entire article in the source of the page. It's only hidden to the eye.

oh yes, I just clicked on inspect element and removed the ui-tabs-hide class and all was revealed.

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Housing market meltdown after stamp duty reforms

http://www.thetimes.co.uk/tto/life/property/article4607230.ece

The editorial in the centre pages of today's Times makes the classic error of confusing correlation with cause and effect. Despite stating that for nearly all stamp duty is now lower, it attributes a large drop in turnover nationally to the changes in stamp duty. Clearly nonsense.

For those that don't subscribe:

Factors blamed:

Stamp duty (even though article states this only affects houses over £1 million!) :blink:

Lack of building

Shortage of properties

MMR

NO MENTION AT ALL of prices being a touch on the high side.

Case-study of a lad who is a 'songwriter and works for his local church' and now is proud owner of 35% of his own home.

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