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long time lurking

Britain's House Price Crash

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Wort it just for the quote below http://www.globalresearch.ca/britains-house-price-crash-2016-predictions-mount/5506469

Also http://www.telegraph.co.uk/finance/property/house-prices/12087971/UK-house-price-to-crash-as-global-asset-prices-unravel.html

The criminals have stopped buying in over-heated Britain and even George Osborne, who has fuelled the bubble, is taking action against amateur landlords that make up the vast majority of property investors in Britain.
Edited by long time lurking

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We'll see. Given the average 'amateur' landlord seems to believe 'prices double every 8 years' with an almost religious zealotry, even if rental yields were negative once mortgages are factored in I still think the HUTH crowd would be snapping up mouldy 'property bargains' cos, capital gainz.

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We'll see. Given the average 'amateur' landlord seems to believe 'prices double every 8 years' with an almost religious zealotry, even if rental yields were negative once mortgages are factored in I still think the HUTH crowd would be snapping up mouldy 'property bargains' cos, capital gainz.

I know exactly where you are coming from, i`m still cautious but i must say the auction results are looking encouraging i`m waiting for the results of two held this week local to me ,the last one early last December was less than half sold ,they are normally in the 70-90% sold range

And on the selling side there are shit loads of ex BTL on the market around me but most if not all are at kite flying prices (rightmove index is going to be going through the roof)

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This bit of the first piece is very interesting:

[in the early 90s bust] I switched from selling property to renting and ended up managing one of the biggest residential rental portfolio’s in the UK. I had 11,000 repossessions to manage because the government had offered tax breaks to banks and building societies to stop these units reaching the market via auctions (called Business Expansion Scheme Companies or BESCo’s) and utterly destroying what little remained of the housing market. I also had another 2,000 high-end units where building companies had gone bust with no-one to buy them. We filled them with all those that had lost their homes or where the government were paying housing benefit – obviously.

Over 40% of Thatcher’s right-to-buy disaster ended up being repossessed. Cameron has just made the same mistake, except he’s a bit late in the game announcing it this time around.

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So how many schemes are there? Not counting FLS and ZIRP.

I thought there were may be 4 HtB type schemes and RtB and may be another. There are according to the government website https://www.ownyourhome.gov.uk/schemes-all/

16

Yes 16 schemes to help people buy a property that they can't actually afford to buy without taxpayer help .... it does seem that whatever needs to be done to prevent Britain's house price crash will be done ... until it really does all come crashing down.

Any sign that these schemes are going to end soon?

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Any sign that these schemes are going to end soon?

Yes - when the market falls as it inevitably will with the impending tax changes. No one will want to try catching the proverbial falling knife. Even those suckered into the Government ponzi are not that stupid ..... are they?

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Any sign that these schemes are going to end soon?

They might end. But the knuts will think of something else, in fact I really dread to think what they might come up with.

You know that situation where someone says something stupid, attempts to get out of it, makes things worse and eventually someone tells them to stop digging... Well that's the government, I'm not sure if they haven't realised that they are just making things worse and that the best thing to do is to just stop digging and let prices crash.

As much as hate Crash Gordon even he didn't dream-up anything like HTB. It's an attempt at populism and I have a natural aversion to that. When a large proportion (if not majority) of the population think the HPI is good how can you trust the populous to make the right decision?

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Thanks for the link satch.

It says HTB ISA ends late 2019. I'm not sure what this means, but presume it means you can't open one after that, meaning they would carry on into the 2020s. It's a terrible "scheme" but considering they implemented it, why not keep it forever? Do they just expect the housing problems will disappear in several years?

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In London or the South East the HTB ISA is a complete waste of time currently

£50 per month ( £100 if 2 of you with individual ISA's) is nothing with the current HPI going on.The 4% Rate with Halifax isnt too bad though but in terms of something to help you buy I don't think it will do much good.

The other HTB schemes have done nothing but drive up prices

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Some have ended or due to end .... but they are always extended so NO and because the existing schemes do not provide enough debt they bring in new ones; QUARTER OF A MILLION INTEREST FREE LOAN for 5 years. If anyone had said the government will lend you 40% on top of your mortgage to buy a property they would have said you were insane and no government would do that; they have done exactly this .... next will be 50% half a million pound interest free loan for ten years

This is just about my position ,they are basically reworking what they did in the 90`s HTB is just a rehash of the shared ownership schemes of the 90`s ,for me though it`s delaying the inevitable and when that happens it`s just going to be worse

I said gifted deposits would happen and people laughed ....yet HTB isa is exactly that

Massive inflation including wages is just about the only thing that could stop the inevitable happening

Edited by long time lurking

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Some have ended or due to end .... but they are always extended so NO and because the existing schemes do not provide enough debt they bring in new ones; QUARTER OF A MILLION INTEREST FREE LOAN for 5 years. If anyone had said the government will lend you 40% on top of your mortgage to buy a property they would have said you were insane and no government would do that; they have done exactly this .... next will be 50% half a million pound interest free loan for ten years

Yes. The answer to unaffordable house prices and millions of Britons owing massive mortgage balances was for government to shoulder the debt burden on behalf of "homeowners". If I want to sell my house, government pays the buyer the first 40% of my asking price. That kind of implies that it is 40% over-valued does it not? If government fails to cough up, I default and the banks lose. The government owns the bank.

Government is held hostage by the debtors. So government must keep paying out larger and larger ransom payments to those in debt to stop defaults. The subsidies can't end, and they can get a lot larger. I would say inevitable until the whole economy and social fabric collapses.

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Any sign that these schemes are going to end soon?

Any sign that people are getting angry yet ?

CaRnhoVXEAA-1__.png

The Fraud squad need to have a look at the people puishing those schemes IMHO.

Edited by TheCountOfNowhere

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I think they should give everyone a home to use for life.......then they can save some and spend the rest of their earned money into the economy, they wouldn't have to earn much.....caveat no savings no safety net, want a better house pay for it......personal responsibility. ;)

Edited by winkie

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Interest free too I bet

Cheap when interest free infinitely.........not cheap when interest free principal to be repaid over 10 or 20 years.....

House prices can only move up or increase to 1. age of mortgage taker to years till retirement ( but could extend pass retirement to next generation) 2.low interest rate serviceability as long as there is still equity and prices do not fall below 10% plus amount of outstanding loan 3. wages and rents.....the percentage of net income and government benefits that supports mortgage/rents.

Edited by winkie

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Britain's House Price Crash

Er... NOT acorrding to the torygraph:

http://www.telegraph.co.uk/finance/property/house-prices/12156868/House-asking-prices-hit-all-time-high-of-299287.html

...AND only last month these pr*cks were saying UK house prices to crash!

http://www.telegraph.co.uk/finance/property/house-prices/12087971/UK-house-price-to-crash-as-global-asset-prices-unravel.html

When for f**ks sake is this CRASH going to start, anyone have crystal ball :huh:

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I think they should give everyone a home to use for life.......then they can save some and spend the rest of their earned money into the economy, they wouldn't have to earn much.....caveat no savings no safety net, want a better house pay for it......personal responsibility. ;)

BIG PROBLEM WITH THAT IDEA: it wouldn't make us debt slaves

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