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Housing policies just drive up prices, Gov warned - Telegraph

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I was expecting the link to be an old article, but no it's from yesterday.

 

Has it really taken the MSM (and by definition most of the rest of society) this long to cotton on to a concept that was being highlighted on here by the ''HPC loons and chrashists'' right from the moment HTB was even suggested?

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The only people I can see who benefit from manipulated HPI, which it surely has been, nobody can argue with that, is multiple land and building commodity investor speculators and the lenders/banks who can only lend against massive growth on the assets they hold whilst interest rates have at the same time plummeted.......other than that there is no longer a housing ladder, cause if you can manage to get on the first rung with 'help' the next is now completely out of reach.......and they call it progress, progress only for the few. ;)

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?? I thought anybody with half a brain worked out immediately that Osborne's cynical schemes were introduced to inflate prices?? Not read the article but it must be someone's idea of a joke to claim this is news...

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Osborne, kept on enticing those with little to spend in a grandular fashion, to keep taxes rolling in. I hope the US raise interest rates this week... each 0.25% rise in a 1% rise in real world terms. I hope this low interest rate economy dies, as all it did was enslave the entire population, to line the pockets off the few.... 

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10 minutes ago, mathschoc said:

It took a "top economist" this long to figure it out. Wow

Another PPE cabbage. Nine years a member of the MPC, 2001-2010. Slept walked through the entire disaster.

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Why would anyone want to change anything if they are benefiting from it?

 

Only a certain number can benefit for a certain period of time until the balance tips......the tipping point. ;)

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13 minutes ago, Arpeggio said:

Driving up the price of housing has been the whole political mandate since many years ago.

So if the average home reaches £500k then the average bank would have to lend a hell of a lot of money on hope and a prayer to the average worker when the average job security and work benefits have fallen and the average wage has stagnated....good luck with that....;)

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2 hours ago, winkie said:

So if the average home reaches £500k then the average bank would have to lend a hell of a lot of money on hope and a prayer to the average worker when the average job security and work benefits have fallen and the average wage has stagnated....good luck with that....;)

Saw "Sputnik" with George Galloway yesterday on RT news. Lady interviewed said that banks had even been making up customer accounts with fictitious amounts of money in them to make it look like the bank had more cash, I assume so they could lend out more money.

Edited by Arpeggio

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2 hours ago, Arpeggio said:

Driving up the price of housing has been the whole political mandate since many years ago.

It's almost feels like it's been the defining policy of 21st Century Britain.

What else does Britain have to make wealth if you take away banking and house prices?

 

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2 minutes ago, Tempus said:

It's almost feels like it's been the defining policy of 21st Century Britain.

What else does Britain have to make wealth if you take away banking and house price

As Einstein said, which can apply to HPI: “What is right is not always popular and what is popular is not always right.”

 

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Osbanker's justification for Help to Bail Banks:

But too many people are still being denied the dream of owning their own home. So instead of starting the second phase of Help to Buy next year, we’re starting it next week.

There are some people - many living in the richest parts of London - who say we shouldn’t be doing these things. I have this to say:

Take you arguments down the road to Nelson or Colne, where house prices have fallen for the past five years. Take your arguments to Bury, or Morecambe, where young working couples are still living at home with their parents.

http://www.politics.co.uk/comment-analysis/2013/09/30/george-osborne-s-conference-speech-in-full

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Wasn't the plan two pronged, first get as many as possible into housing by promoting HPI and mad gainz. Then when the numbers high enough and mortgage payments unaffordable ensure interest rates stayed on the floor for as long as possible to catch the last suckers. 

Having now created a market that can barely afford mortgage payments at the current low rates the trap can be sprung. A whole generation trapped in servitude to the banks.

 

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4 hours ago, Arpeggio said:

Saw "Sputnik" with George Galloway yesterday on RT news. Lady interviewed said that banks had even been making up customer accounts with fictitious amounts of money in them to make it look like the bank had more cash, I assume so they could lend out more money.

Actually, I don't think banks are that interested in cash balances, to them they are liabilities meaning if instant access they can be removed without notice and they would be obliged to honour.....whereas a debt is an asset even better if secured against a valuable asset that is growing in value......the borrower would have to lose all their equity before the lender loses a penny of theirs.;)

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