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Pieman Pieface

Daily Telegraph HPI Propaganda Thread.

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I thought I'd start a thread collecting the daily nonsense spouted by the Daily Telegraph regarding housing. While most of the MSM is pretty deceptive about its motivations about the housing crisis, the daily telegraph has always appeared to me to be the biggest culprit when it comes to ramping up the buying mania. 

In this article the DT highlights a couple who can't downsize their already hugely overpriced property to something which is cheaper whilst maintaining the same amount of space and affluent style to which they have become accustomed. " We don't want to live like 20 somethings" they mutter, not realising that their own ramped up price is part of the problem when they can't find a smaller property. 

Instead of laying any blame on the boomers or the current housing market or macro economic policy, the DT lays the blame firmly at the door of 'punitive stamp duty' and that builders are only creating smaller 2-3 bed houses. Of course its another opportunity to pull out the stamp duty card, make wealthy older home owners look hard done by and try and create some outrage so they all become a bit more wealthy. 

http://www.telegraph.co.uk/pensions-retirement/financial-planning/820000-house-big-nowhere-move/

 

Quote

Mr Green said a stamp duty exemption for downsizers could cost £460m – but that this would be offset by the tax paid by the thousands of younger buyers who would move as a result of more properties being available. 

:huh:

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Downsizers' properties used to be bought by people with children moving up the ladder to get more space.  

The economy and the housing market is so wrecked that the UK's young people are putting off having children to maybe never having children and married people are breaking up and going single for the same reasons so why should they want a downsizer's house. 

All the talk of stuff like stamp duty is just tinkering around the edges of the problem.

Edited by billybong

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