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David "scotty" Cameron Hosts A Housing Crisis Summit

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http://uk.news.yahoo.com/17082006/344/came...it-housing.html

Cameron hosting summit on housing

The Press Association Thursday August 17, 08:51 AM

David "Scotty" Cameron is promoting new ways to help young people get on the housing ladder by hosting a summit of experts on Thursday.
The Tory leader has identified the removal of "roadblocks" facing first-time buyers as a key way to win back urban voters.
He has suggested the tax system could be changed, "seller's packs" scrapped and shared ownership boosted.
Now he has gathered together a group of "industry experts and policy makers" to hear their views and experiences.
The initiative comes a day after the party renewed its attack on the controversial Home Information Packs (HIPs).
Shadow housing minister Michael Gove - who will attend the summit - derided the scheme as a "complete shambles".
Mr Cameron has accused ministers of leaving the "dream" of home ownership out of the reach of many young people.
A more imaginative way to end a "growing gulf between the haves and the have nots" had to be found, he said in March.
"Those who have already achieved the dream of home ownership and those people, often young people, who look at slim wage packets and high house prices and think 'I'm never going to afford it.'"
Making first homes affordable is one of "four keys" to improving urban life identified by Mr Cameron.

At least it raises awareness if nothing else. :)

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http://uk.news.yahoo.com/17082006/344/came...it-housing.html

Cameron hosting summit on housing

The Press Association Thursday August 17, 08:51 AM

David "Scotty" Cameron is promoting new ways to help young people get on the housing ladder by hosting a summit of experts on Thursday.
The Tory leader has identified the removal of "roadblocks" facing first-time buyers as a key way to win back urban voters.
He has suggested the tax system could be changed, "seller's packs" scrapped and shared ownership boosted.
Now he has gathered together a group of "industry experts and policy makers" to hear their views and experiences.
The initiative comes a day after the party renewed its attack on the controversial Home Information Packs (HIPs).
Shadow housing minister Michael Gove - who will attend the summit - derided the scheme as a "complete shambles".
Mr Cameron has accused ministers of leaving the "dream" of home ownership out of the reach of many young people.
A more imaginative way to end a "growing gulf between the haves and the have nots" had to be found, he said in March.
"Those who have already achieved the dream of home ownership and those people, often young people, who look at slim wage packets and high house prices and think 'I'm never going to afford it.'"
Making first homes affordable is one of "four keys" to improving urban life identified by Mr Cameron.

At least it raises awareness if nothing else. :)

RB, I'm a little disappointed in your praising of such "schemes".

I may have blind faith in the market mechanism but I believe the market will correct of its own accord, not through any interference from politicians (especially those as useless as Shameron).

Quite a few posters here seem to believe there is some great VI conspiracy and that "this time it's different". I don't believe VIs make much difference at all. The market created this bubble and the market will sort itself out. Trust me!

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Quite a few posters here seem to believe there is some great VI conspiracy and that "this time it's different". I don't believe VIs make much difference at all. The market created this bubble and the market will sort itself out. Trust me!

On the other hand comparing the speed at which the US housing market [where comparatively less VI spin exists] has turned to the UK would suggest some impact of VI and general government/BBC/media spin

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On the other hand comparing the speed at which the US housing market [where comparatively less VI spin exists] has turned to the UK would suggest some impact of VI and general government/BBC/media spin

I agree. There is a lot of ignorance out there and the media has only just turned negative in the light of the LR data and debt scare. THe US media are a lot more forthright when it comes to telling it like it is and some of it may be to do with consumer laws and the threat of lawsuits based on misrepresentation of facts. Further, Gordon Brown's future hinges on the housing market and most of the VI press want to see the Miracle continue.

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Because the UK media won't tell it like it is, (like the US), expect a bigger shock when it comes*!

* any downturn in prices that is!

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Cameron should just leave this issue alone. If anything, they should say how to prevent house prices rocketing again. But this 'shared ownership' route is doomed to bite them back in the ass.

All the Tory's would need to do is attack the unsustainable debt boom, the public won't like that, but in years to come they can say "look, we warned this would happen, we won't let it happen again".

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The Tories dont want house prices to fall which is why this is a complete and utter joke. They want interest rates to remain low and house prices not to fall. This is about trying to prevent the market from falling by offering rubbish schemes to those daft enough to take them up.

Edited by simon99

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The Tories dont want house prices to fall which is why this is a complete and utter joke. They want interest rates to remain low and house prices not to fall. This is about trying to prevent the market from falling by offering rubbish schemes to those daft enough to take them up.

Please! - Do you really think an opposition party can turn round and say we want house prices to fall???

Im sure they are aware of the real solution [ie IR hikes], though I agree they should just shut up about shared ownership etc, and concentrate on the debt culture, which the Telegraph have been focusing on for a while now with their regular Decade Of Debt features

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What's with you and Scots RB?

I have noticed that there are an awful lot of them these days and they occupy all of the top jobs. TB, GB, DC, John "Jimmy" Reid, Hamish McTavish (although I hink he may be Welsh??).

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I have noticed that there are an awful lot of them these days and they occupy all of the top jobs. TB, GB, DC, John "Jimmy" Reid, Hamish McTavish (although I hink he may be Welsh??).

Do you really think that this matters in the slightest?

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Do you really think that this matters in the slightest?

The government is subsidising Scotland through a jobs creations program to offset what would otherwise be alarming unemployment rates and a consequential housing bust. GB has already had a stinger from the loss of a seat in Scotland and I am certain there is a certain bias that leans Northward when it comes to where money is going to be spent.

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The thing is, this does pretty much nothing to really help first time buyers. All he is doing is spouting the same tired old rhetoric based on the idea that house prices will/need to keep on rising forever. As a potential first time buyer I have not the slightest interest in shared ownership schemes, 100% mortgages or the like - they're just a rip off to perpetuate an over-onflated housing market.

If a party wants to attract my vote on housing related issues then I would like to see the following:

1. Improved rights for tennants. No more of the perpetual 6 month shorthold tennancy with no pets/children/DSS/smokers/students/decorating/cat flap type restrictions.

2. Buy to let should be taxed with sensible lending restrictions on buy to let mortgages. At the very least I would like to see an end to income tax relief on buy to let mortgage interest payments and a minimum 25% (ideally 50%) deposit. I would also like to see a number of high profile cases of prosecutions for mortgage fraud for some of those who have fraudulantly taken out buy to let mortgages (eg taken out an owner-occupier mortgage for a buy to let property).

With a bit of luck, this should cause FTB type properties to fall in price, or at least make life a little bit more bearable for those of us who choose or are forced to rent.

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David "Scotty" Cameron is promoting new ways to help young people get on the housing ladder by hosting a summit of experts on Thursday.

The Tory leader has identified the removal of "roadblocks" facing first-time buyers as a key way to win back urban voters.

He has suggested the tax system could be changed, "seller's packs" scrapped and shared ownership boosted.

Now he has gathered together a group of "industry experts and policy makers" to hear their views and experiences.

What experts, the NAEA, the lenders' ('banks)' the legal proffession - We'll tell you what we want what we really, really want!.

The initiative comes a day after the party renewed its attack on the controversial Home Information Packs (HIPs).

HIPS was always a good idea, the problem was that the legal and conveyancing industry were going to loose money and some were even uncertain as to what roll an estate agent would have if the seller had a HIP, he could just auction the property to the general public.

Shadow housing minister Michael Gove - who will attend the summit - derided the scheme as a "complete shambles".

Well he speaketh the truth.

Mr Cameron has accused ministers of leaving the "dream" of home ownership out of the reach of many young people.

So what is he left to sell the current home owners, 'we will engineer a fall in property prices' vote for me.

A more imaginative way to end a "growing gulf between the haves and the have nots" had to be found, he said in March.

Cameroon did mention the subject of wealth redistribution after he won the leadership election, perhaps all those that own more than one home should give one up.

"Those who have already achieved the dream of home ownership and those people, often young people, who look at slim wage packets and high house prices and think 'I'm never going to afford it.'"

Making first homes affordable is one of "four keys" to improving urban life identified by Mr Cameron.

Yes but how, it can only be done by pushing prices down and that will make him unelectable.

At least it raises awareness if nothing else.

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Maybe Priceout.org could try and contact Scotty and tell him what the FTBers want.

Restrict the lenders to only lend sensible multiples of income

Investigation into mortgage fraud

BTL mortgages to require a large deposit (30-50%)

etc

etc

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Please! - Do you really think an opposition party can turn round and say we want house prices to fall???

Im sure they are aware of the real solution [ie IR hikes], though I agree they should just shut up about shared ownership etc, and concentrate on the debt culture, which the Telegraph have been focusing on for a while now with their regular Decade Of Debt features

No but I dont expect them to say they want to remove the barriers to homeownership whilst saying they want interest rates to remain low and to preserve the value of peoples houses. Do they really think people cant see through these house price boosting schemes?

Edited by simon99

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Maybe Priceout.org could try and contact Scotty and tell him what the FTBers want.

Restrict the lenders to only lend sensible multiples of income

Investigation into mortgage fraud

BTL mortgages to require a large deposit (30-50%)

etc

etc

I agree. The key things any government can do to help end the current crisis and prevent a bubble from occurring again in priority order are:

1. Regulate banks so that the most they can lend for OO properties is 3 x income of owner and wife (regardless of affordability at any point in time due to interest rates).

2. Change the capital gains tax on non OO properties (ie BTL and holiday properties) so that any capital gains are taxed at a rate that would leave the seller with the equivalent of CPI increase in the capital value over the term that they owned the home. Money should only be made out of residential property by running a business that provides housing (ie rent). People should not make a business out of capital gains in residential property.

3. Help clear out unoccupied homes - For second homes council tax should be based on occupancy. If it is occupied a lot by renters then council tax should be reduced. If it is left empty for most of the year then council tax should be higher (some towns in England are already proposing to do this).

4. Provide tax incentives for new home development to encourage more houses to be built.

5. Investigation of mortgage fraud.

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I have noticed that there are an awful lot of them these days and they occupy all of the top jobs. TB, GB, DC, John "Jimmy" Reid, Hamish McTavish (although I hink he may be Welsh??).

Ahem...you know, the odd Englishman (and one woman) has been prime-minister of Scotland too, often with the support of around 20% of the electorate.

The government is subsidising Scotland through a jobs creations program to offset what would otherwise be alarming unemployment rates and a consequential housing bust. GB has already had a stinger from the loss of a seat in Scotland and I am certain there is a certain bias that leans Northward when it comes to where money is going to be spent.

Material from the mid 70's was recently released under the 30 year rule, comprising civil service investigations into the implications of Scottish Independence (the SNP were pushing 30% at the time). It's a very interesting read - "possibly the strongest currency in Europe", "an embarrassing surplus", "the greater of the economies on this island, despite the disparity in population" etc etc. Surprisingly enough, politicians back then also claimed that Scotland was being subsidised...

Mrs T. often said the same thing. If she was correct, she could have delivered independence for Scotland, thereby freeing up billions of the S.E. Taxpayer's cash and costing Labour 50 guaranteed seats at the cost of a handful of Tory ones. She refused to even contemplate it...I wonder why? :rolleyes:

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Ahem...you know, the odd Englishman (and one woman) has been prime-minister of Scotland too, often with the support of around 20% of the electorate.

Material from the mid 70's was recently released under the 30 year rule, comprising civil service investigations into the implications of Scottish Independence (the SNP were pushing 30% at the time). It's a very interesting read - "possibly the strongest currency in Europe", "an embarrassing surplus", "the greater of the economies on this island, despite the disparity in population" etc etc. Surprisingly enough, politicians back then also claimed that Scotland was being subsidised...

Mrs T. often said the same thing. If she was correct, she could have delivered independence for Scotland, thereby freeing up billions of the S.E. Taxpayer's cash and costing Labour 50 guaranteed seats at the cost of a handful of Tory ones. She refused to even contemplate it...I wonder why? :rolleyes:

Sir, are you also implying that the Thatcherite economic miracle was actually the simple result of an oil boom?

Now we're lumbered with the ideology without the mineral resource to fund it! (not that I seek to argue that the mixed economy was any more successful at disguising a declining country)

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David Cameron is clueless. :angry: .

Looked the part when became Conservative Leader.

Everything i've heared him say is total garbage.

Indeed. I had high hopes for him, and initially preferred him to Dave Davis, now my opinions are

reversed!

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So his big ideas are:

1. Increasing the thatcherite disaster that is/was right-to-buy?

2. Propping up the market with shared ownership scams, presumably involving either allowing bankers to take yet more control of the nation's housing stock, or funded in some way by the tax payer? So are all the tory-lovers on here going to chastise the gormless Etonian for this wanton rape of the free market fairy and call him a communist? Y'know in the interests of consistency and all.

I don't see any mainstream party truly helping to cool the market. Of he three parties only the Lib Dems' Vince Cable has consistently hit out at the loose-lending debt-mountain culture that has caused the current malaise. Still, no doubt the ex Shell economist is a socialist PC pot-head or something in HPC-forum land.

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2. Buy to let should be taxed with sensible lending restrictions on buy to let mortgages.

A friend of mind works for a large UK bank, rumour is they are about to roll out a new employee compensation scheme featuring the chance to have up to 4 buy to let mortgages at perferential rates, and each one at 4x income. this is on top of the mortgage for your own house.

So they could be borrowing 5 x 4 = 20 x salary

Now why would the banks suddenly be so keen to lend this recklessley to their own staff?

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David Cameron is clueless. :angry: .

Looked the part when became Conservative Leader.

Everything i've heared him say is total garbage.

David Cameron always seems like a very decent sort who shares the concerns of people like myself. It is just a pity he to compromises this to the point of pointlessness to achieve any kind of consensus. He needs a bit more of Blair's messianic zeal I think. He is just to sane to ever get ellected. I am not sure asking industry experts is a good idea either. I am all for the hug a hoody thing though. At least I have a bit of a thing for chavy girls.

Edited by gordonbrown

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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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