"britain Is Pioneering Shared Equity To Bring Homeownership

[Scipio_Africanus]

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.

I think this is a good thing. Any measure that stops people owning their own home should be welcomed, and if HPI is the method then so be it. High property ownership is bad for the economy, and reduces flexibility in the labour market. People shouldn't be so tied to their own home that they can't travel hundreds, even thousands, of miles to take up a new job.

So overall it would be a good thing if more and more property is owned by fewer and fewer people.

Yet it's only a temporary sitation, and in my opinion, there'll be a crash, and those who had the common sense not to jump into 25% shared ownership schemes, etc, will, in my opinion, be able to buy their own homes relatively cheaply. I just hope that next time there is a crash, the government will start bringing property into the sphere of public ownership.

BTW if everyone's a BTL landlord, rents are going to stagnate at best.

BBTW Government spending less than a billion pounds on share equity schemes? If that props up the property market, and stops the country going into recession, that's an excellent investment. How much did the government spend supporting the pound in 1992?

[HousePriceLottery]

BBTW Government spending less than a billion pounds on share equity schemes? If that props up the property market, and stops the country going into recession, that's an excellent investment. How much did the government spend supporting the pound in 1992?

And look what happened when they tried to do that. nuff said

[Realistbear]

This thread, perhaps the entire website, is a reflection of the views and attitudes of that segment of the population that has been left out in the cold by Gordon"s Miracle Economy. I think a copy of this thread should be sent to Gordon and cc'd to the BBC as a snapshot of what people really think of the 25% "crumb" from the feast table of HPI.

:angry:

[Solvent Celt]

rather than poxy shared ownership why not simply build council houses? Surely better value for money?

[right_freds_dead]

the irony is your additional inflation 'contributions' are fuelling the property owners nulab party.

your making OOs rich and they think its thanks to gordon brown and sound economics.

that extra 100k you now pay for a semi is the best advertising gordon brown can get.

he already knows this. this is his actual plan. he knows theres a proportion of the country paying this cost. and its you/us/me. we are the 7% hes using to provide for the 55%. = 22% of the vote.

sad fact is, we are just numbers to them. and we dont count.

were too small a group. and thats that.

[Guest DisposableHeroes]

So much damn spin, Gordon should work for Dyson.

[Scipio_Africanus]

And look what happened when they tried to do that. nuff said

For the next couple of years I plan on being heavily invested in the UK economy - in terms of both the stock market and the value of the pound. From a selfish point of view I don't want any wobbles before 2008, though my current feeling is that the problems will start in earnest in Autumn of 2007. Measures supporting HPs should therefore be welcomed, provided IRs don't get cut - such measures in the long-run won't work, but in the short-term they might.

[Realistbear]

The reason Gordon has come up with shared "ownership" is the simple fact that as goes HPI goes he.

HPC = Goodbye Mr. Miracle Economy.

[Guest]

I think this is a good thing. Any measure that stops people owning their own home should be welcomed, and if HPI is the method then so be it. High property ownership is bad for the economy, and reduces flexibility in the labour market. People shouldn't be so tied to their own home that they can't travel hundreds, even thousands, of miles to take up a new job.

Not so fast. If property was reasonably priced to start with, and wasn't going up in price, and we weren't obsessed with bidding up its prices, and the lending wasn't available to bid up the prices, things would stabilise. Implication: Easy home selling, reasonable population mobility, even if not quite as good as the German model. Now we have a terrible situation.

For the next couple of years I plan on being heavily invested in the UK economy - in terms of both the stock market and the value of the pound. From a selfish point of view I don't want any wobbles before 2008, though my current feeling is that the problems will start in earnest in Autumn of 2007. Measures supporting HPs should therefore be welcomed, provided IRs don't get cut - such measures in the long-run won't work, but in the short-term they might.

So many folks on here pencilling in 2007!

Remember: If this whole thing is going to go tits up, then New Labour will need a massive scapegoat. Preferably something out of their control. The foreigners fit the bill for this, right down to the ground. My guess is look to the USA. They got us into this low IRs / debt mess, they'll get us through the pain, and out the other side. New Labour would never take the lead in something like this though.

Edited March 23, 2006 by megaflop

[Realistbear]

Gordon's plan to keep HPI going:

http://society.guardian.co.uk/publicfinanc...1737654,00.html

City expects REITs rush as result of climbdown

Nils Pratley

Thursday March 23, 2006

The Guardian

Property companies will rush to turn themselves into Real Estate Investment Trusts (REITs), the City predicted after the chancellor made major concessions on the structure of these tax-exempt vehicles.

The share prices of all property companies rose steeply - many by more than 10% - as the scale of the Treasury's climbdown became clear. The combined rise in stock market value of the top-four property stocks alone was £2.4bn.

Will it work? Undoubtedly not--IR are rising worldwide and its too late in the business cycle. HPI is worn out.