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Mancunian284

Help to Buy increased property prices by more than 50% since launch in 2013

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Nice to see the true nature of this nasty little charade is slowly gaining the mainstream media coverage it deserves. 

As I've said many times before HTB is going to be the next big government-backed scandal IMO; it'll be interesting to see the prices of new-builds plummet even relative to the collapse we expect in other house prices.

Of course the question remains of who will end up carrying the can for this disgusting act of exploitation and profiteering - it sure as hell won't be the developers or scumbag Osbourne. My guess is that once again the taxpayer will be left to foot the bill for all the sad-face, hard-of-thinking muppets who'll be pouring out their sob-stories of being mis-sold the "dream home"  that's plunged them into many thousands of pounds of negative equity 🙄

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They will do a help to buy scheme for ex help to buy houses. Some kind of exchange deal? something like that.

The debt heads will take more debt on, if they are all trapped in negative equity, then they need to be released to take on even more debt to keep the bubble rolling on.

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1 hour ago, longgone said:

the only ones who won are the building firms 

utter disgrace how is someone not locked up for fraud. 

Starting with George O. His twittering about this was disgusting.

Not sure how much he was the perpetrator of this (only because I don't have hard evidence, not because I don't think he was linch-pin).

But that he deliberately sought political advantage in propogandising is (also) inexcusable.

Edited by Aidan Ap Word

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4 hours ago, Aidan Ap Word said:

Starting with George O. His twittering about this was disgusting.

Not sure how much he was the perpetrator of this (only because I don't have hard evidence, not because I don't think he was linch-pin).

But that he deliberately sought political advantage in propogandising is (also) inexcusable.

Do you the young even understand how much they have been shafted though.

I Red pilled at least 15 years ago. The depressing thing is going with the majority is probably the only way to win even if it sounds insane.

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5 hours ago, longgone said:

The depressing thing is going with the majority is probably the only way to win even if it sounds insane.

Only if you are still young enough to pay off the mortgage - when all your peers bought 20 years ago, its too late.

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12 hours ago, longgone said:

I Red pilled at least 15 years ago. The depressing thing is going with the majority is probably the only way to win even if it sounds insane.

What is red-pilling? It’s a Matrix reference, I assume, but what’s the meaning here...?

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Just take a look at the Didsbury Eclipse development. Ex Public land, prices higher by the HTB loan size over other equivalent properties locally. It's mental.

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14 hours ago, longgone said:

Do you the young even understand how much they have been shafted though.

I Red pilled at least 15 years ago. The depressing thing is going with the majority is probably the only way to win even if it sounds insane.

If history has taught us anything, it’s that the majority are always wrong.

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53 minutes ago, thewig said:

If history has taught us anything, it’s that the majority are always wrong.

Yes but they can be wrong for all your lifetime so during your lifetime you were wrong..

Edited by RomfordDon

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1 hour ago, RomfordDon said:

Yes but they can be wrong for all your lifetime so during your lifetime you were wrong..

Mind. Blown. 🧐

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4 hours ago, neon tetra said:

What is red-pilling? It’s a Matrix reference, I assume, but what’s the meaning here...?

In the Matrix a character is asked to swallow either the blue pill or the red pill. He's told that there is no going back, and he's not allowed to know in advance which option is "good" and which is "bad".

 

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2 hours ago, RomfordDon said:

Yes but they can be wrong for all your lifetime so during your lifetime you were wrong..

So best just get in the queue for a Deanobox, quick, before they sell out!

1547067840046.jpg

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HtB is a trifling insignificance (~£10bn to date) when put in context with the hundreds of billions gifted to the banksters through the FLS and TFS, and the decade-long rolling bailout and profiteering opportunity that ZIRP has conferred.

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On 30/03/2019 at 10:30, thewig said:

Help to DEBT.

Rent then

On 30/03/2019 at 11:07, ftb_fml said:

even relative to the collapse we expect in other house prices.

I dont expect a total collapse 

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On 30/03/2019 at 18:53, longgone said:

Do you the young even understand how much they have been shafted though.

I Red pilled at least 15 years ago. The depressing thing is going with the majority is probably the only way to win even if it sounds insane.

No, the young don't understand.

Which is why folks like this get away with national-scale theft and fraud.

The watershed moment when I started on the journey to seeing (some of) the truth in all these lies was when a colleague in 2003 showed me the (then) growing disconnection between LIBOR and the BoE base rate. Yeah so about 15 years ago for me too.

Took about a year to start seeing the how deep pandora's box is.

Saddest thing of all is - in terms of "money" and finance - the best thing I could have done was buy a house at that time anyway. I knew even then it was a dumb move (that is: relying on endless government bailouts) ... if I had know then how much they would have bailed this all out in the 15 years to follow I would have taken the plunge ...

Perhaps those in the younger folks who *do* know that this is all a lie/emperor is naked ... perhaps some of them genuinely believe the government will just keep bailing.

 

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25 minutes ago, Aidan Ap Word said:

No, the young don't understand.

Which is why folks like this get away with national-scale theft and fraud.

The watershed moment when I started on the journey to seeing (some of) the truth in all these lies was when a colleague in 2003 showed me the (then) growing disconnection between LIBOR and the BoE base rate. Yeah so about 15 years ago for me too.

Took about a year to start seeing the how deep pandora's box is.

Saddest thing of all is - in terms of "money" and finance - the best thing I could have done was buy a house at that time anyway. I knew even then it was a dumb move (that is: relying on endless government bailouts) ... if I had know then how much they would have bailed this all out in the 15 years to follow I would have taken the plunge ... 

Perhaps those in the younger folks who *do* know that this is all a lie/emperor is naked ... perhaps some of them genuinely believe the government will just keep bailing. 

 

This is my current problem -

I understand how corrupt and disfunctional the system is and that by rights there should be a HPC:

  • Do I buy now on the assumption that the bailouts and government policy inflating housing will continue indefinitely?
  • Or will the time finally come where house prices cannot be sustained by government policy and they collapse? (in which case its better to hold out).

The more I dig deeper into the rabbit hole the less clarity I have on the best course of action.

 

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38 minutes ago, APerson said:

This is my current problem -

I understand how corrupt and disfunctional the system is and that by rights there should be a HPC:

  • Do I buy now on the assumption that the bailouts and government policy inflating housing will continue indefinitely?
  • Or will the time finally come where house prices cannot be sustained by government policy and they collapse? (in which case its better to hold out).

The more I dig deeper into the rabbit hole the less clarity I have on the best course of action.

 

UKGov and state apparatus have left us all staggered at the lengths they will go to distort the market and transfer wealth into the hands of favoured group.  The wealthy and powerful hold their wealth in land and property and as such really we should expect them to take action necessary to protect and inflate that wealth.  The change will come when they lose controls of events....you can't distort markets for ever before something gives...

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1 hour ago, APerson said:

This is my current problem -

I understand how corrupt and disfunctional the system is and that by rights there should be a HPC:

  • Do I buy now on the assumption that the bailouts and government policy inflating housing will continue indefinitely?
  • Or will the time finally come where house prices cannot be sustained by government policy and they collapse? (in which case its better to hold out).

The more I dig deeper into the rabbit hole the less clarity I have on the best course of action.

 

 

35 minutes ago, Wayward said:

UKGov and state apparatus have left us all staggered at the lengths they will go to distort the market and transfer wealth into the hands of favoured group.  The wealthy and powerful hold their wealth in land and property and as such really we should expect them to take action necessary to protect and inflate that wealth.  The change will come when they lose controls of events....you can't distort markets for ever before something gives...

All true.

I am approaching the sharp end of decision time: if the government doubles down (triples down?) again in the next six months then it will be even worse for me - despite the fact that I gave up and bought 3 years ago. I am stuffed if they do and - to the degree we all are - I am stuffed if they don't (but only in the sense that the pay-back time will have started for all of us).

OK, that's all just "me" and doesn't help your answer.

To make it worse: how much of all this bail-out was because it was the politically expedient thing to do OR because it was giving homage to their banker paymasters? Personally, I think it is somewhere ont he spectrum between these two.

If it was solely about political expedience then I would suggest that the bail outs would end with the politicos have measured the balance and "buy" votes with supporting the crash (or not stopping it).

Since I suspect the banksters will continue to bung the politicos though ... and they don't give a monkeys for things like democracy, the will of the people or society in general.

 

 

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2 hours ago, Aidan Ap Word said:

Since I suspect the banksters will continue to bung the politicos though ... and they don't give a monkeys for things like democracy, the will of the people or society in general.

So ask yourself which politicos are more likely to say no to the bankers when they next show up at the Treasury looking for a bailout: Phil "Property Developer" Hammond or John "Tear Down Capitalism" McDonnell?

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On 01/04/2019 at 12:08, APerson said:

This is my current problem -

I understand how corrupt and disfunctional the system is and that by rights there should be a HPC:

  • Do I buy now on the assumption that the bailouts and government policy inflating housing will continue indefinitely?
  • Or will the time finally come where house prices cannot be sustained by government policy and they collapse? (in which case its better to hold out).

The more I dig deeper into the rabbit hole the less clarity I have on the best course of action.

 

Wait and see what happens after brexit? Government policy won't be able to mitigate the damaging affects of brexit on house prices I don't think.

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On 01/04/2019 at 15:53, Dorkins said:

So ask yourself which politicos are more likely to say no to the bankers when they next show up at the Treasury looking for a bailout: Phil "Property Developer" Hammond or John "Tear Down Capitalism" McDonnell?

That is assuming that if the benefit cap by is removed Labour and landlords can increase rents, the bankers still need a bail out.

Saying that I don't want to defend Phil Hammond or any Tory.

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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