Burbujista Posted April 14, 2020 Share Posted April 14, 2020 (edited) New proposed measure from the Tories to make housing more expensive: https://www.thetimes.co.uk/edition/business/plan-to-extend-help-to-buy-to-kick-start-housebuilding-l0vs2g62f Disgusting. Edited April 14, 2020 by Burbujista Quote Link to comment Share on other sites More sharing options...
Now or never Posted April 14, 2020 Share Posted April 14, 2020 Couldn't read whole article. In what way has it been extended, just the period of time? Quote Link to comment Share on other sites More sharing options...
dougless Posted April 14, 2020 Share Posted April 14, 2020 It is disgusting but it is the Tory way. Quote Link to comment Share on other sites More sharing options...
Burbujista Posted April 14, 2020 Author Share Posted April 14, 2020 3 minutes ago, Now or never said: Couldn't read whole article. In what way has it been extended, just the period of time? https://www.housingtoday.co.uk/news/kerslake-calls-on-government-to-consider-help-to-buy-extension/5105498.article Quote Link to comment Share on other sites More sharing options...
blackhole Posted April 14, 2020 Share Posted April 14, 2020 It might simply be a continuation of the current scheme which was going to roll up by end of the year for eligible homes. Still disgusted, but do you expect anything else from that industry? Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted April 14, 2020 Share Posted April 14, 2020 To be expected when MP’s are heavily into People Farming, and represent a larger than average BTL smell. Quote Link to comment Share on other sites More sharing options...
Si1 Posted April 14, 2020 Share Posted April 14, 2020 I'm not sure Rishi is the same as Javid, Hammond or Osborne. But I may be wrong. They were all card carrying, property speculating, middle England liberal elite. Thus far I'm not sure whether Rishi is or not. Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted April 14, 2020 Share Posted April 14, 2020 To be fair - how will the major developers be able to afford their donations to the Tory party otherwise? Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted April 14, 2020 Share Posted April 14, 2020 Perhaps speaking to soon, but I believe the housing bung days are over. Government is leveraging to the hilt to protect business and workers rom covid effects. There is just no money left. I also expect housing to be a primary target for future taxes to pay for all this Quote Link to comment Share on other sites More sharing options...
Si1 Posted April 14, 2020 Share Posted April 14, 2020 28 minutes ago, PropertyMania said: Perhaps speaking to soon, but I believe the housing bung days are over. Government is leveraging to the hilt to protect business and workers rom covid effects. There is just no money left. I also expect housing to be a primary target for future taxes to pay for all this Indeed Housing is suddenly a tiny part of a much bigger more dangerous picture. Quote Link to comment Share on other sites More sharing options...
blackhole Posted April 14, 2020 Share Posted April 14, 2020 50 minutes ago, PropertyMania said: Government is leveraging to the hilt to protect business and workers rom covid effects. https://wolfstreet.com/2020/04/14/something-has-gone-wrong-uk-government-banks-screw-up-coronavirus-loans-small-firms-on-near-collapse-mixed-results-in-other-countries/ - if the UK Gov + UK Banking dont sort this out, housing will be the least of their concerns! Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted April 14, 2020 Share Posted April 14, 2020 5 hours ago, dougless said: It is disgusting but it is the Tory way. It's EVERY Government's way following the failure of the system in the Great Financial Crash ... have you forgotten that money printing began under Labour? Mortgage borrowing pumps massive amounts of credit into the economy - the largest private sector factor - so it must be maintained at all costs. Only a matter of time before all new mortgage lending is underwritten explicitly by the Treasury, interest rates on the mortgage will be fixed at close to zero for the entire period of the loan and tax relief is available on the capital debt. Quote Link to comment Share on other sites More sharing options...
msi Posted April 14, 2020 Share Posted April 14, 2020 28 minutes ago, blackhole said: https://wolfstreet.com/2020/04/14/something-has-gone-wrong-uk-government-banks-screw-up-coronavirus-loans-small-firms-on-near-collapse-mixed-results-in-other-countries/ - if the UK Gov + UK Banking dont sort this out, housing will be the least of their concerns! Banks lost the ability to know their patch and eyeball the businesses that needed funds. The Mr Mainwaring caricature was based on a reality of people who knew who was good for a loan. Replacing them with some spotty 20 year old and the 'computer says no' led to a push for sales and commission and we know where that led. Replace local banking with community credit funds to regain the knowledge. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 14, 2020 Share Posted April 14, 2020 2 hours ago, PropertyMania said: Perhaps speaking to soon, but I believe the housing bung days are over. Government is leveraging to the hilt to protect business and workers rom covid effects. There is just no money left. I also expect housing to be a primary target for future taxes to pay for all this Yes....easy low hanging fruit.? Quote Link to comment Share on other sites More sharing options...
phantominvestor Posted April 14, 2020 Share Posted April 14, 2020 This is awful news. This kind of market interventions should be illegal. Quote Link to comment Share on other sites More sharing options...
dougless Posted April 15, 2020 Share Posted April 15, 2020 9 hours ago, Sour Mash said: ... have you forgotten that money printing began under Labour? I hadn't forgotten but Labour are amateurs compared to the Tory party when it comes to manipulating the market and I hate what Tories have done to this country. Quote Link to comment Share on other sites More sharing options...
Burbujista Posted April 15, 2020 Author Share Posted April 15, 2020 One sign of hope. No other media outlet has any new article about it. The only serious source is The Times. A lot of financial experts are criticising the posible measure in public. There is a bit of hope that it just won’t happen. Quote Link to comment Share on other sites More sharing options...
blackhole Posted April 15, 2020 Share Posted April 15, 2020 1 hour ago, Burbujista said: One sign of hope. No other media outlet has any new article about it. The only serious source is The Times. A lot of financial experts are criticising the posible measure in public. There is a bit of hope that it just won’t happen. There's now too much public evidence that shows HTB is mostly beneficial to builders not potential home owners. That's before even scratching the surface of "poor quality" HTB homes, wihch have been covered by the media. Quote Link to comment Share on other sites More sharing options...
blackhole Posted April 15, 2020 Share Posted April 15, 2020 12 hours ago, msi said: Banks lost the ability to know their patch and eyeball the businesses that needed funds. The Mr Mainwaring caricature was based on a reality of people who knew who was good for a loan. Replacing them with some spotty 20 year old and the 'computer says no' led to a push for sales and commission and we know where that led. Replace local banking with community credit funds to regain the knowledge. +1000. You cant have capitalism if you're unable to access capital. Quote Link to comment Share on other sites More sharing options...
Bluestone59 Posted April 15, 2020 Share Posted April 15, 2020 They should never have started out down this road in the first place but I don't think they had a lot of choice right now. Their new recruits around the North West who might want to use HTB would have said "five minutes in and they've "s**t on us already" (unless they're intelligent enough to realise what the scheme actually does to them). This looks to me more like a holding operation whereby things don't get any worse, I doubt they think the market will rear up on its hind legs and go racing. This is not 2013 again. There's plenty of time for them still to come up with something or finally to come to their senses. I'm against ALL intervention in housing markets other than in respect of health and employment problems via the benefits system. Quote Link to comment Share on other sites More sharing options...
Smiley George Posted April 15, 2020 Share Posted April 15, 2020 In the current climate would be a politically toxic move. Having said that I wouldn't put it past the Tories to still think this was a great way of kickstarting the housing market post-pandemic. It would be monumentally stupid. Quote Link to comment Share on other sites More sharing options...
Burbujista Posted April 15, 2020 Author Share Posted April 15, 2020 23 minutes ago, Smiley George said: In the current climate would be a politically toxic move. Having said that I wouldn't put it past the Tories to still think this was a great way of kickstarting the housing market post-pandemic. It would be monumentally stupid. Why do you think I put the news here? It’s our perfect time to expose these corrupt politicians. Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted April 15, 2020 Share Posted April 15, 2020 Interesting how most of the major housebuilders have voluntarily suspended construction, even though they are allowed to continue. What does this tell us about how they see the state of the market when they return to business? Quote Link to comment Share on other sites More sharing options...
Burbujista Posted April 15, 2020 Author Share Posted April 15, 2020 From my Tory MP just a few minutes ago: “Thanks for your email. I don’t think Help to Buy is a perfect programme, but I also don’t think it was introduced for any other reason than to help people get on the housing ladder. At the moment I understand this idea is just in discussion so we will have to see the detail – but I understand the argument that it may aid the first stages of the recovery. My main concern regarding housing is that I want to see a lot more affordable housing built and not to have developers whittle down the proportion they build on the grounds that developments are not commercially viable otherwise.“ Quote Link to comment Share on other sites More sharing options...
Smiley George Posted April 15, 2020 Share Posted April 15, 2020 27 minutes ago, Burbujista said: From my Tory MP just a few minutes ago: “Thanks for your email. I don’t think Help to Buy is a perfect programme, but I also don’t think it was introduced for any other reason than to help people get on the housing ladder. At the moment I understand this idea is just in discussion so we will have to see the detail – but I understand the argument that it may aid the first stages of the recovery. My main concern regarding housing is that I want to see a lot more affordable housing built and not to have developers whittle down the proportion they build on the grounds that developments are not commercially viable otherwise.“ How to create many, many more unaffordable homes, by creating a few affordable homes....these people are incredibly stupid. Who is the MP if you don't mind me asking? Quote Link to comment Share on other sites More sharing options...
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