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"britain Is Pioneering Shared Equity To Bring Homeownership

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http://money.guardian.co.uk/businessnews/s...1737065,00.html

Brown invests more in homebuying

Hilary Osborne

Wednesday March 22, 2006

First-time buyers were given some good news today as the chancellor, Gordon Brown, announced plans to invest an extra £970m into shared ownership housing schemes.
"Britain is pioneering shared equity to bring homeownership within the reach of first-time buyers," said Mr Brown.

And why is Britain "pioneering" such cutting edge policies? Because the stupid fools caused the problme of overpriced housing in the first place. Makes you want to be sick. :angry:

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http://money.guardian.co.uk/businessnews/s...1737065,00.html

Brown invests more in homebuying

Hilary Osborne

Wednesday March 22, 2006

First-time buyers were given some good news today as the chancellor, Gordon Brown, announced plans to invest an extra £970m into shared ownership housing schemes.
"Britain is pioneering shared equity to bring homeownership within the reach of first-time buyers," said Mr Brown.

And why is Britain "pioneering" such cutting edge policies? Because the stupid fools caused the problme of overpriced housing in the first place. Makes you want to be sick. :angry:

It's not the causing of the problem, it's the maintenance of high house prices he's aiming at.

And creating a class of government serfs who can't afford to quit their jobs and go into the private sector as they'd have to pay the government back or lose their house.

Billy Shears

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Just saw the smug git prattling on about how the "government was going to help more people on the ladder so can accomplish their dream of owning their own home..."

Owning 25% of their own home after 25 years! Talking about prolonging the agony.

It ain't gonna be pretty Gordy - and you ain't getting to No. 10!

:angry:

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It ain't gonna be pretty Gordy - and you ain't getting to No. 10!

:angry:

Who is going to stop him getting to No. 10. I don't see Bliar lasting to the next election.

Billy Shears

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Being cynical I just wondered if this shared equity thing will be used (or has been planned) to bail out developers who can't sell their new builds. Sell a share instead, take rent on the rest and it all helps to maintain the overall ticket price.

I will be watching carefully to see if newbuilds already on the books start to get marketed as 'shared equity schemes'

Could this all be a cynical ploy to help out the developers who can't shift their property?

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http://money.guardian.co.uk/businessnews/s...1737065,00.html

Brown invests more in homebuying

Hilary Osborne

Wednesday March 22, 2006

First-time buyers were given some good news today as the chancellor, Gordon Brown, announced plans to invest an extra £970m into shared ownership housing schemes.
"Britain is pioneering shared equity to bring homeownership within the reach of first-time buyers," said Mr Brown.

And why is Britain "pioneering" such cutting edge policies? Because the stupid fools caused the problme of overpriced housing in the first place. Makes you want to be sick. :angry:

I am not a violent man..

they were in our reach,

Then, "Oh look I am rich, look I have a house, lend me some money.. I am rich.."

"Really.. lend me loads.. let me buy one.... Look I am rich.. I am rich..."

"Is anyone struggling paying these mortgages....?"

"Shhhhs.. silly boy... you are rich.. struggling to pay this.. its part of being rich..."

"I am so Rich"

Resign

Edited by apom

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Being cynical I just wondered if this shared equity thing will be used (or has been planned) to bail out developers who can't sell their new builds. Sell a share instead, take rent on the rest and it all helps to maintain the overall ticket price.

I will be watching carefully to see if newbuilds already on the books start to get marketed as 'shared equity schemes'

Could this all be a cynical ploy to help out the developers who can't shift their property?

You are not far wrong there my friend and you are not being cynical.

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I am not a violent man..

they were in our reach,

Then, "Oh look I am rich, look I have a house, lend me some money.. I am rich.."

"Really.. lend me loads.. let me buy one.... Look I am rich.. I am rich..."

"Is anyone struggling paying these mortgages....?"

"Shhhhs.. silly boy... you are rich.. struggling to pay this.. its part of being rich..."

"I am so Rich"

Resign

I vote Apom the forum's most poetic poster. :)

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You just know how messed up things are when they're looking at 25% ownership.

I just hope no one falls for it.

But know people will, which is tragic.

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Being a civil servant myself, they recentley let us know about a one bed flat in West Drayton for £90k for 50% shared ownership...

£180k FOR A ONE BED FLAT IN WEST DRAYTON?!?!

Shared ownership doesnt appeal to me at all.

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If you are angry about this do something;

See here for a good idea;

http://www.housepricecrash.co.uk/forum/ind...showtopic=26534

Or better still write to your MP and tell them what you think about the government ploughing almost 1 billion pounds of tax payers money into the housing market.

Seriously, do it.

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Who is going to stop him getting to No. 10. I don't see Bliar lasting to the next election.

Billy Shears

I was hoping for some scandal to force him to resign.

It was just my little 10 minute (non-sexual) fantasy. Thank you for spoiling it. :lol:

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I was hoping for some scandal to force him to resign.

It was just my little 10 minute (non-sexual) fantasy. Thank you for spoiling it. :lol:

Surely being cr4p is justification enough.

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"Britain is pioneering shared equity to bring homeownership within the reach of first-time buyers," said Mr Brown.[/indent]

And why is Britain "pioneering" such cutting edge policies? Because the stupid fools caused the problem of overpriced housing in the first place. Makes you want to be sick. :angry:

This brave new world where nobody normal could afford a first house only came into being about 10 years ago (when this government came into power). And yet we are expected to accept that this is the natural way of being?

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I like the idea, if only because the banks not to mention the government will be directly involved by holding tanking assets on their books that will need to be written down in an eerily Japanese way. Their assets will be partly owned by some potentially disgruntled people once they realise they've been sold a pup, claims of misselling will be rife.

In the US banks are prevented from getting themselves so deep in the mire, they simply push exotic loans.

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When are people going to wake up and realise that being able to afford only a quarter of a property means that something is badly, badly f*cked up in this country.

From budget speech:

"....Government must also help balance supply and demand. Our priority, as barker recommended, has been: first, new laws to speed up planning; and second, to release more public sector land now and in the future, to build 100,000 more houses."

Does Gordon really think that throwing more money at an overheated market results in a balance between supply and demand? Or is he saying that the market is tipping towards excess supply, so he wants to increase demand?

"To attract more capital into house building we will legislate to introduce for Britain real estate investment trusts that are so successful in the USA."

Are these trusts involved in construction of new properties, rather than buying existing stock?

"And to help finance necessary new infrastructure our policy is that local communities should retain more of the planning gains generated in their area."

Is this perhaps a sweetener for councils full of NIMBYs? They will basically get a cash bonus if they allow development on their turf!?

"Britain is pioneering shared equity to bring homeownership within the reach of first time buyers. "

Dear oh dear. In what warped world can this be a good thing?

"The Deputy Prime Minister is today announcing the allocation of £970 million for shared equity to help 35,000 new homeowners get their first step on the ladder of homeowning in our country."

So, taxpayers money is being pumped into a private market? Why doesn't he buy us all some oil to help with rising energy costs? I think this amount is fairly inconsequential if it is all flowing into crappy new "shared ownership" developments. At least these developments add to the housing stock.

"And the Housing Minister is inviting housing associations local authorities and builders, as well as building societies, to offer shared equity. And we will now pilot minimum holdings as low as 25 per cent."

I don't think they will get many takers for this junk idea personally. Although I do know someone who is thinking of buying a 25% share as a hedge against dropping prices, whilst having security of tenure (i.e. he is happy to take the risk on 25% of the property cost, for the benefit of controlling his accomodation).

Bit of a mixed bag if my reading of it is correct. But the positives will probably come to nothing.

Edited by Smell the Fear

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This brave new world where nobody normal could afford a first house only came into being about 10 years ago (when this government came into power). And yet we are expected to accept that this is the natural way of being?

The future is owning 25% of a horrible little highrise box that is smaller than a Chinese prison cell, in a dull and polluted hell hole where the only blades of grass to be found are sold in a wrap for £5 on the street corner.

They will build the New Jerusalem.

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http://money.guardian.co.uk/businessnews/s...1737065,00.html

Brown invests more in homebuying

Hilary Osborne

Wednesday March 22, 2006

First-time buyers were given some good news today as the chancellor, Gordon Brown, announced plans to invest an extra £970m into shared ownership housing schemes.
"Britain is pioneering shared equity to bring homeownership within the reach of first-time buyers," said Mr Brown.

And why is Britain "pioneering" such cutting edge policies? Because the stupid fools caused the problme of overpriced housing in the first place. Makes you want to be sick. :angry:

Hi,

For jesus sake, most of the country is not built on, there are far trickier things in this life that have been accomplished (monkey's in space, the human genome, the Northen Ireland peace accord, etc). If you are a younger generation, YOU! YES YOU! Are being used as a pawn to prop up nulab votes and the pensions fiasco. If you are too apathetic to care about that, you need to get off your **** today and make your voice heard!

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As has been discussed here many times, "shared" ownership schemes are a complete con even in a rising market. In a stable or falling market they are disastrous. Any six year old can work out the figures and conclude that shared ownership is a fraudulent scam not worth the paper it is written on.

Of course you do see the occasional "I bought through shared ownership and it has transformed my life etc etc", but these claims invariably come from either planted hype or sheer naivity.

Avoid at all costs.

VP

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Being cynical I just wondered if this shared equity thing will be used (or has been planned) to bail out developers who can't sell their new builds. Sell a share instead, take rent on the rest and it all helps to maintain the overall ticket price.

I will be watching carefully to see if newbuilds already on the books start to get marketed as 'shared equity schemes'

Could this all be a cynical ploy to help out the developers who can't shift their property?

I DON'T BELEIVE WHAT I AM SEEING

Within the last few hours (and I have been checking rightmove today so I know), six flats on a 'ground breaking development' near me (5 years into a six year project), have just come up for sale as 'shared ownereship'. These have come online today (used 'last 24 hour search' on rightmove).

These are not 'off plan', they are already built and ready to go.

Coincidence?...I think not

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You just know how messed up things are when they're looking at 25% ownership.

I just hope no one falls for it.

But know people will, which is tragic.

SarahBell

I have just had a go of your HPC wordsearch but can't find GORDONBROWN?????

I have found C.. U... T... but I cant find the N :(

Can you help me please?........

TIA

TB

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The headlines masquerade as helping FTB's yet all it will achieve is sending house prices higher for everyone else who doesn't qualify for the schemes. Also the REIT's boost to the property market shows where the loyalties really lie.

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I did warn you all several years ago, but you preferred to ignore my comments.

The future plan of the Labour Government is to remove the vast profits being earnt by Joe Public in property ownership, and transfer those profits over to the Government.

And all they had to do was create a booming market, that prices people out so they just have smaller and smaller shares. In 10yrs time, someone with 25% in a shared ownership scheme will be considered very lucky.

The future of the UK is this.

People in the future will rent, and houses will either be owned by the Socialist Government in house shared equity schemes, or will be owned by Landlords.

Maybe in the future, they may well nationalise property.

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  • 301 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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