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Dispatches - The Great Housing Scandal

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Which scandal is it? So many to choose from -

1. Scandal of Help to Buy (which we all know should really be 'Help to Sell') pushing up house prices, encouraging irresponsible lending, exposing the taxpayer to risk, unnaturally boosting developers' profits

2. Scandal of Council and Housing Association sell off of housing stock, restrictions on councils building replacements + more

3. Scandal of Absurdly Low Interest Rates & Policies to Encouraging Reckless Lending and Over-Indebtedness

4. Scandal of Pension De-Regulation, encouraging pensioners to take out money and spend on 'Buy to Lets'

5. Scandal of Uncontrolled Immigration, With Insufficient Planning for Population Growth and Housing Need

6. Scandal of Encouraging Foreign Ownership of Property

7. Scandal of Houses Bought and Left Empty (See 6. Above)

8. Scandal of Absurd Amounts of Taxpayers Funds Spent on Housing Benefit to Private Landlords (See 2.)

Honestly, I could go on. They could do a whole series, not just a single episode.

The only seriously good policy on the horizon is the idea of 'build to let' and large investors like pension funds getting involved into producing more properties on a vast scale. I hope they use contractors from outside the GB house-building circle. They also need councils and housing associations to get building too. The 'Micky Mouse' policies of Help to Buy, etc are laughable.

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Whenever I bitch about the state of the housing market to a friend or relative, they always come out with 'there's a government scheme to help you buy, you know'...

Makes me want to scream.

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Is it about elderly homw owners living off the state pension struggling to afford the maintenance on their 4 bed detached family home in Buckinghamshire?

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It'll be about young people being 'locked out' of access to mortgage credit because they don't have a big enough deposit. Some expert will be invited on to say that there are now schemes where parents can lend their "children" (adults in their late 30s) the deposit so that banks will be willing to lend 4.5x joint. Problem solved, job done.

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It'll be about young people being 'locked out' of access to mortgage credit because they don't have a big enough deposit. Some expert will be invited on to say that there are now schemes where parents can lend their "children" (adults in their late 30s) the deposit so that banks will be willing to lend 4.5x joint. Problem solved, job done.

In a normal market where things become unaffordable sales drop and prices re-align....

Not in British housing, all sorts of props are used with public money to keep people buying at insane rates and allowing themselves access to a World of pain when it does have to correct....

Government can be then be sued for misselling so more taxpayers dosh into the pockets of the elite.

Edited by geezer466

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Should be how due to decades of financialization we are now pay though interest on over inflated prices a huge premium to the banks.

I can guess it'll actually be lack of supply, and builders can't sell ask we aren't borrowing enough.

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Anything that draws attention to the shambles that is the UK housing market cannot be a bad thing - although I'm not optimistic that it'll draw the right conclusions, still I will watch it to find out.

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Apparently "Harry Wallop investigates the failure to build enough houses in Britain, and finds and finds out what happened to a plan to sell off public land to build 100,000 new homes"

We want Rolls Royce to sell more car so the government sells them cheap silver and gold and what do you know, they don't get any increase in orders and hence build anymore cars.

Housing is too expensive.

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Is it to do with George and Davids' failure to do what they said they were going to do because it might inconvenience their rich pals?

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How about watching it, and then debating what it was really about?

Expectation management - we've got our hopes up too many times: oooh, they're going to talk about it, they're going to talk about it, finally, they're going to talk about it, oh, they didn't talk about it, sad puppy sigh disappointed face.

He does have the decency to be embarrassed about his extraordinary good fortune and these days that's about the best we can hope for, don't you think? They're not going to hire someone who's going to really get to the bottom of things cos, you know, it would freak people out and the only thing keeping everything up in the air is general credulity. And the people commissioning it probably have property portfolios - they should extend the interests register they've put in place at the BBC* to all major broadcasters and newspapers.

*OK they haven't yet but it's so obviously the right thing to do that they're sure to get around to it any day now. Any day now. No doubt about it.

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_80219041_uk_house_building_624v2.gif

The low numbers built haven't really improved from 2011 upto date.

Considering how much political hyperbole, grandstanding, electioneering and opportunism there's been surrounding the housing crisis subject over the years and decades it's truly scandalous.

Then there's the scandal that they're the tiniest homes in europe if not the world and also the most expensive in the world. Amazingly British politicians continue to prop that situation up with government subsidies and encouragement of ever increasing bank/financial sector lending for the sector etc.

It's not as if those policies have resulted in more new homes being built.

Edited by billybong

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I wonder whether they'll wheel Kirstie on to give her expert opinion.

Having said that, there was a housing-scandal prog. a few years ago that was actually pretty good, I forget which channel.

But it featured in particular deliberate right-to-buy fraud, and people in council properties who owned other properties and were renting out one or the other.

I particularly recall a policeman who had a council flat in a relatively expensive area of London. He blithely told the undercover reporter he thought he was going to rent it to (for IIRC at least 3 times what he was paying) that any mail for him could just be put in the letterbox of the flat across the landing, since that was his, too.

There was nothing about any of these fraudsters being brought to book, though.

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https://www.youtube.com/watch?v=VVlBAyYrsNk

Apparently it is to do with why aren't enough houses being built.

Whether it'll go into the crazy house prices, government subsidies, self serving lending, the general troughing and the tiny homes is another matter.

One of the programme adverts has an image of a placard with "Ministry of Defence" "FOR SALE" on it so it could also be touching on government/public owned land possibly being sold to cronies at daft prices and immediately afterwards given residential land status, then being hoarded? maybe.

Edited by billybong

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Apparently "Harry Wallop investigates the failure to build enough houses in Britain, and finds and finds out what happened to a plan to sell off public land to build 100,000 new homes"

Well if they think that's the only issue that needs discussing as far as the uk property market is concerned I probably won't even bother watching.

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Apparently "Harry Wallop investigates the failure to build enough houses in Britain, and finds and finds out what happened to a plan to sell off public land to build 100,000 new homes"

Well if they think that's the only issue that needs discussing as far as the uk property market is concerned I probably won't even bother watching.

Walloper.

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Apparently "Harry Wallop investigates the failure to build enough houses in Britain, and finds and finds out what happened to a plan to sell off public land to build 100,000 new homes"

Well if they think that's the only issue that needs discussing as far as the uk property market is concerned I probably won't even bother watching.

Harry Wallop? Isn't this guy a light entertainment/showbiz reporter for the One Show?

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