Red October Posted October 21, 2017 Share Posted October 21, 2017 Quote The chancellor, Philip Hammond, is lining up another £10bn to extend the“help to buy” programme first launched by George Osborne in 2013, which has already sucked up £10bn of taxpayers’ cash. Yet a report from Morgan Stanley – not usually the type to stick the knife into a flagship government policy – lays bare how this colossal sum has been almost entirely wasted. The Guardian Quote Link to comment Share on other sites More sharing options...
Wayward Posted October 21, 2017 Share Posted October 21, 2017 Be in no doubt that we are being led by evil cynics that will stop at nothing to distort the housing market to enrich chosen privileged groups. Quote Link to comment Share on other sites More sharing options...
Tempus Posted October 21, 2017 Share Posted October 21, 2017 7 minutes ago, Wayward said: Be in no doubt that we are being led by evil cynics that will stop at nothing to distort the housing market to enrich chosen privileged groups. Absolutely. The Government and the Bank of England have both made this clear. They know no other way and they want it this way. Quote Link to comment Share on other sites More sharing options...
winkie Posted October 21, 2017 Share Posted October 21, 2017 Never forget that nothing will ever get done unless there is a gain to be made from it....not everything is like that. Quote Link to comment Share on other sites More sharing options...
juvenal Posted October 21, 2017 Share Posted October 21, 2017 https://www.theguardian.com/money/blog/2017/oct/21/help-to-buy-property-new-build-price-rise Patrick Collinson sums up the con-trick concisely in today's Guardian... Quote Link to comment Share on other sites More sharing options...
maverick73 Posted October 22, 2017 Share Posted October 22, 2017 On paper yes, its a temporary freebie... based on continouios asset price growth. Unfortunatly it also comes with possiblity of negative equitity if the loanee cannt replay the loan within the first five years. Quote Link to comment Share on other sites More sharing options...
Wayward Posted October 22, 2017 Share Posted October 22, 2017 You couldn't make it up...aren't subsidies supposed to reduce prices !!! Its the economics of the mad house Quote Link to comment Share on other sites More sharing options...
guest_northshore Posted October 22, 2017 Share Posted October 22, 2017 Borrow more to boost housebuilding.http://www.bbc.co.uk/news/business-41714128 Except: "So for example... you borrow more to invest in the infrastructure that leads to more housing...". i.e. Anything except actually building social housing or measures to lower homebuilder profit margins (infrastructure improvements are capitalised into land prices). Quote Link to comment Share on other sites More sharing options...
zugzwang Posted October 22, 2017 Share Posted October 22, 2017 15 minutes ago, guest_northshore said: Borrow more to boost housebuilding.http://www.bbc.co.uk/news/business-41714128 Except: "So for example... you borrow more to invest in the infrastructure that leads to more housing...". i.e. Anything except actually building social housing or measures to lower homebuilder profit margins (infrastructure improvements are capitalised into land prices). Desperate stuff from the Tory boys. Reducing the deficit is the the right thing to do. Increasing the deficit is also the right thing to do. Anything to avoid admitting you were wrong. Quote Link to comment Share on other sites More sharing options...
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