ARENAPUA Posted October 7, 2017 Share Posted October 7, 2017 I know I've been more 'half glass empty' with the potential for drops in the current environment but it really heartens me to see articles like this not just in the mainstream press but mainstream tabloid press no less. Tide and opinion is turning, and there is a gradual, growing realisation of the devastating effects of high house prices. The article was even published in abbreviated version in The Times (which is great in itself), and referred to the Daily Mail article which is how I found it. People are slowly starting to get it - every little helps. http://www.dailymail.co.uk/news/article-4957030/Wealthy-families-exploit-7billion-Help-Buy-home-scheme.html Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted October 7, 2017 Share Posted October 7, 2017 Comments focus on £50k not being wealthy. I agree. Especially in the south. And mostly due to the cost of housing Quote Link to comment Share on other sites More sharing options...
RomfordDon Posted October 7, 2017 Share Posted October 7, 2017 2 minutes ago, stuckmojo said: Comments focus on £50k not being wealthy. I agree. Especially in the south. And mostly due to the cost of housing 100% agree esp with rent costs and commuting costs which cannot be avoided Quote Link to comment Share on other sites More sharing options...
papag Posted October 7, 2017 Share Posted October 7, 2017 Anne Diamond was very near on seething of the policy on TV this morning Quote Link to comment Share on other sites More sharing options...
stormymonday_2011 Posted October 7, 2017 Share Posted October 7, 2017 (edited) HTB is a subsidy to the big building companies to help them shift their newbuild stock not FTB. It is an attempt adjust the failure of the supply side of the economy to produce enough houses for sale. Just another sign that the UK property market is not really a market at all since there is an effective monopoly over landownership and the amount of building land on the market at any time. If you want to see where the British property market is heading think Ireland in the 1830s. Edited October 7, 2017 by stormymonday_2011 Quote Link to comment Share on other sites More sharing options...
Bsmf Posted October 7, 2017 Share Posted October 7, 2017 The editor was on LBC saying it props up house prices and only really benefits the house builders who's share price rose following this. So nice to see the truth being said. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 7, 2017 Share Posted October 7, 2017 51 minutes ago, stuckmojo said: Comments focus on £50k not being wealthy. I agree. Especially in the south. And mostly due to the cost of housing I agree. Today that would buy a 55 year old a Single life, RPI, 5 year guarantee annuity worth £1,012 per annum. Quote Link to comment Share on other sites More sharing options...
winkie Posted October 7, 2017 Share Posted October 7, 2017 10 minutes ago, wish I could afford one said: I agree. Today that would buy a 55 year old a Single life, RPI, 5 year guarantee annuity worth £1,012 per annum. Shocking.......big future retirement income problems to come. Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted October 7, 2017 Share Posted October 7, 2017 50 minutes ago, winkie said: Shocking.......big future retirement income problems to come. Very few are taking responsibility for their own futures. The savings figures show that. When the time comes though they'll of course vote for the party that will take from those who did think of their future. I'm one of the few who is. Hopefully I'll be protected from the raid by no longer being here... Quote Link to comment Share on other sites More sharing options...
longgone Posted October 7, 2017 Share Posted October 7, 2017 so it`s doing it`s intended job then. they should be locked up Quote Link to comment Share on other sites More sharing options...
rantnrave Posted October 7, 2017 Share Posted October 7, 2017 This is front page of the print edition today. Quote Link to comment Share on other sites More sharing options...
Venger Posted October 7, 2017 Share Posted October 7, 2017 Good and strong pushback by some in Daily Mail article, but the points were made so clearly by some housing organisation when HTB was first introduced, with some very compelling charts/graphs and clever graphics about how it makes housing more less affordable for priced out, and how those who already own property gain. I can't recall each aspect of 'how' now, but am going to revisit it. HTB; It has so many effects in my view, making those who already own property more minded to not sell to cash in, for HTB suggests a supply-and-demand problem, and 'not enough houses' (rather than housing financialisation issues). Crapitalism (h/t Bland Unsight). It also in my opinion saw a surge of BTLers double-down into the market (at high/higher prices), with belief Gov stands behind house prices with such policies, and again 'supply and demand' seeking to lay claim to more property to rent out into the forever HPI. To play their part in making non-important priced out Generation Rent, say non-important priced out Generation Rent Forever. Haven't found it at The Times online website, and will look for it in the paper later this afternoon. There's also this from The Times today (online edition). Quote House prices hit record high, says Halifax October 6 2017, 12:00pm, The Times Restricted supply and high employment, rather than improved demand, are credited with the increase. The average price of £225,109 last month was a 0.8 per cent increase on the £223,271 recorded in August ---------- https://www.thetimes.co.uk/edition/business/house-prices-hit-record-high-says-halifax-0z6q2hg38 Selection of comments - I've never made a comment at The Times myself. Maximilian Hell 3 hours ago Some people have emerged completely unscathed from the financial crisis. Record asset prices helped by record low interest rates. Austerity had been an Illusion for them. Dudleydoright 3 hours ago The media are obsessed by "records". With inflation, prices are bound to go up over time. borris 4 hours ago With the new injection of £10bn for Help to Buy it’s trebles all round! Quote Link to comment Share on other sites More sharing options...
Venger Posted October 7, 2017 Share Posted October 7, 2017 33 minutes ago, rantnrave said: This is front page of the print edition today. Not in my edition of the printed paper. £50K is not a lot against ballooned housing financialistion house prices. However it normally takes a lot of effort and work to be on £40K+ in my view, vs HPI long wave price extremes easy life, where my life of please landlord kicks back with 5 rental properties that have trebled in value since early 2000. Quote Link to comment Share on other sites More sharing options...
papag Posted October 7, 2017 Share Posted October 7, 2017 Mr Peter Bone 64 year old conservative MP has taken advantage of the Help to Buy scheme, its really nice to see the youthful poorer end of our society being helped in this way ,a very well deserving person no doubt .https://politicalscrapbook.net/2016/03/tory-mp-peter-bone-lives-in-help-to-buy-property/ Quote Link to comment Share on other sites More sharing options...
Wayward Posted October 8, 2017 Share Posted October 8, 2017 I had to turn off radio 4 just (BH)...this morning or else smash my radio up...they had two youngsters debating the housing crisis and the leader of the young conservatives said its better for the young today than it was for their parents because today they have HTB...i despair. I could have posted on the thread about how the conservatives have no future. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 8, 2017 Share Posted October 8, 2017 51 minutes ago, Wayward said: I had to turn off radio 4 just (BH)...this morning or else smash my radio up...they had two youngsters debating the housing crisis and the leader of the young conservatives said its better for the young today than it was for their parents because today they have HTB...i despair. I could have posted on the thread about how the conservatives have no future. It's better for the young today who happen to have a 6 figure gifted deposit off their family, because the riffraff can't compete the way they did 20 years ago Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 8, 2017 Share Posted October 8, 2017 (edited) from the DM comments Quote Princess, reading, United Kingdom, 1 day ago We paid £250k 4 years ago our house is worth £375k now. We remortgaged as soon as we could to pay it off after 2 years. We had to beg steal and borrow to get enough to pay it off but that was always our plan. We now rent it out (that wasn¿t our original plan) but have relocated ¿up north¿ I enjoyed this one too: Quote Busty D1splay, Kralendijk, Bonaire, Sint Eustatius and Saba, 17 hours ago Red arrowed by all the London snowflakes who think you need a passport to go outside the M25. Why you're obsessed with that dump these days escapes me. It's all acid throwing, moped mugging, knife attacking, van ramming over priced and full of people who can't even speak English. And what the hell IS that smell down there? It reeks. Smells like old pizzas and skips. LOOOL! Edited October 8, 2017 by mrtickle Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 8, 2017 Share Posted October 8, 2017 12 minutes ago, mrtickle said: from the DM comments How does one beg borrow or steal £200k in two years? Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 8, 2017 Share Posted October 8, 2017 1 minute ago, Si1 said: How does one beg borrow or steal £200k in two years? I think they meant they remortgaged to be able to pay off the 20% HTB component. Not the whole house. Quote Link to comment Share on other sites More sharing options...
nothernsoul Posted October 8, 2017 Share Posted October 8, 2017 To be honest, i think any outrage that well off people are using help to buy just reinforces the propaganda that the scheme is meant to benefit the young and "ordinary" people(whatever that means) when it obviously isnt. A prop is a prop, the government and housebuilders couldnt care less if the Duke of Westminster was using HTB as long as it was helping shift their new builds and getting borrowed money into the housing market. The main purpose of help to buy was to prime the borrowing pump at the bottom of the market. Im always dubious when people talk about unintended consequences of a policy. Consequences are rarely unintended. Quote Link to comment Share on other sites More sharing options...
Flopsy Posted October 8, 2017 Share Posted October 8, 2017 3 hours ago, Wayward said: I had to turn off radio 4 just (BH)...this morning or else smash my radio up...they had two youngsters debating the housing crisis and the leader of the young conservatives said its better for the young today than it was for their parents because today they have HTB...i despair. I could have posted on the thread about how the conservatives have no future. If it makes you feel better Wayward I was snoozing to the radio then but had to out of the bed to switch it off as well. There was the Oscar Wilde saying "There is only one thing in life worse than being talked about, and that is not being talked about." However it feels that most of the talking on the housing crisis still isn't tacking the issues and it's becoming an annoyance. The real issues are still being side lined although the media is parading their talking heads to pretend that they are. Quote Link to comment Share on other sites More sharing options...
Eva24 Posted October 8, 2017 Share Posted October 8, 2017 Great to see the government policy being seen for what it is i.e. Self interest of just duping the public that they the government are doing something to solve a problem when in fact they are just perpetuating it. Quote Link to comment Share on other sites More sharing options...
winkie Posted October 8, 2017 Share Posted October 8, 2017 To be honest why would they care who gets help, anybodies help to get into greater debt is gratefully accepted....why should they care whose money it is or where it comes from.....a sale is a sale is a sale. Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted October 8, 2017 Share Posted October 8, 2017 Does anyone think this policy is a good idea? The tories are so out of touch they think that a policy direction that worked 40 years ago can work today. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 8, 2017 Share Posted October 8, 2017 2 hours ago, nothernsoul said: To be honest, i think any outrage that well off people are using help to buy just reinforces the propaganda that the scheme is meant to benefit the young and "ordinary" people(whatever that means) when it obviously isnt. A prop is a prop, the government and housebuilders couldnt care less if the Duke of Westminster was using HTB as long as it was helping shift their new builds and getting borrowed money into the housing market. The main purpose of help to buy was to prime the borrowing pump at the bottom of the market. Im always dubious when people talk about unintended consequences of a policy. Consequences are rarely unintended. This. The little people barely even exist to Cameron and Osborne. Quote Link to comment Share on other sites More sharing options...
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