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Dr House

Budget Gives All Clear To Hpc

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We feared:

- Repeal of CGT for BTLs

- U-Turn on Non Doms

- Abolition of Stamp Duty for FTBs or rebanding

- Alteration of 2% inflation target

None of these measures occurred.....

Watch for the offloading of BTL properties en masse - there will be a massive surge in supply. This will be the next straw on the already weary camel's back which is the failing housing market.

Also, watch for the confidence drop of all those struggling with mortgages hoping for budget concessions...........

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We feared:

- Repeal of CGT for BTLs

- U-Turn on Non Doms

- Abolition of Stamp Duty for FTBs or rebanding

- Alteration of 2% inflation target

None of these measures occurred.....

Watch for the offloading of BTL properties en masse - there will be a massive surge in supply. This will be the next straw on the already weary camel's back which is the failing housing market.

Also, watch for the confidence drop of all those struggling with mortgages hoping for budget concessions...........

sweet!!! HMS Great Crash sails on, bringing saviour to First time buyers!

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Nothing can stop it now; we've heard the noise of the rachet dragging the carriages up the gradient. Now we're stopped on the top admiring the view, "oh look, you can see our house from here, this rollercoaster lark isn't that scary is it, oh, we're gently moving again, I wonder what happens neXXXXXXXXXTTTTTTTTTTTTTTTTT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!".

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Nothing can stop it now; we've heard the noise of the rachet dragging the carriages up the gradient. Now we're stopped on the top admiring the view, "oh look, you can see our house from here, this rollercoaster lark isn't that scary is it, oh, we're gently moving again, I wonder what happens neXXXXXXXXXTTTTTTTTTTTTTTTTT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!".

Shame that most of the sheeple seem to be like those Cubs on Jim'll Fix It who still think they can eat their lunch...

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Assuming that you believe the line about writing a letter to Merv regarding inflation, that looks like government pressure on the BoE for holding/increasing rates.

Probably just hot air though.

Yes, why did he mention the target? Was it mentioned last year?

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Assuming that you believe the line about writing a letter to Merv regarding inflation, that looks like government pressure on the BoE for holding/increasing rates.

Probably just hot air though.

I wonder if Merv has got the foresight to run down to the Post Office today and get his mail redirected so that he can say he didn't receive it. That's what I'd do if I knew that the badger was going to be writing to me.

p-o-p

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Saw an interview from a guy in the City saying how disappointed he was that Darling was sending a letter

to Merv to keep inflation at 2%, when the Fed was cutting rates. Bad for the City, good for sterling.

And a non-dom moaning about paying tax, ****** off then, it is because of twats like them we are in this bloody mess.

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BBC sums it up as

HOUSING

• From April, key workers, such as teachers and nurses, will be able to borrow money from shared equity schemes.

{Does this mean withdraw equity?}

• Stamp duty on shared ownership homes will not be required until people own 80% of their home.

• More people should have the chance to have a long-term fixed mortgage, which a report shows can reduce the risks for first-time buyers and can keep them on the housing ladder.

{how will they manage this? Northern Rock?}

• Sites for 70,000 more houses have been identified.

{Flood plains? Or knocking down terraces and building flats?}

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BBC sums it up as

HOUSING

• From April, key workers, such as teachers and nurses, will be able to borrow money from shared equity schemes.

{Does this mean withdraw equity?}

• Stamp duty on shared ownership homes will not be required until people own 80% of their home.

• More people should have the chance to have a long-term fixed mortgage, which a report shows can reduce the risks for first-time buyers and can keep them on the housing ladder.

{how will they manage this? Northern Rock?}

• Sites for 70,000 more houses have been identified.

{Flood plains? Or knocking down terraces and building flats?}

You're not going to get a long term fix without penalties, or an agreement to move the mortgage with the house.

FTBs do not want to stay in the same place for 25 years. :angry:

The Crock is going to be run at "Arm's length" and presumably that means they don't have to do such a stupid thing.

And finally.

Ha Ha, politically they can't admit they fecked up on housing and so must continue to plough this furrow until they get to the end of the field.

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BBC sums it up as

HOUSING

• From April, key workers, such as teachers and nurses, will be able to borrow money from shared equity schemes.

{Does this mean withdraw equity?}

• Stamp duty on shared ownership homes will not be required until people own 80% of their home.

• More people should have the chance to have a long-term fixed mortgage, which a report shows can reduce the risks for first-time buyers and can keep them on the housing ladder.

{how will they manage this? Northern Rock?}

• Sites for 70,000 more houses have been identified.

{Flood plains? Or knocking down terraces and building flats?}

3. {I think that's a good guess.}

4. {couldn't one pull them up on the fact that they wouldn't be building houses}

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Saw an interview from a guy in the City saying how disappointed he was that Darling was sending a letter

to Merv to keep inflation at 2%, when the Fed was cutting rates. Bad for the City, good for sterling.

And a non-dom moaning about paying tax, ****** off then, it is because of twats like them we are in this bloody mess.

what makes you say that o wise one?

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You know, the scariest thing Darling has ever said, was when he felt housing was supported by a lack of supply. It wasn't what he said, it's how he said it. He truly believed it.

It's often said on here that Brown will do anything to prevent a HPC. Personally, I doubt he can see it coming.

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what makes you say that o wise one?

The city wizkids that have come up with all these fancy ways of robbing people.

Now they have ******ed up the financial system they are going to slink off in a sulk cause they are not properly

appreciated.

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And a non-dom moaning about paying tax, ****** off then, it is because of twats like them we are in this bloody mess.

You xenophobic communist scum are the problem. The extra hand-outs to shared ownership scroungers and the massive taxbreak for BTL layabouts are two measures in the budget to keep house prices up. Check the small print for more...

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You know, the scariest thing Darling has ever said, was when he felt housing was supported by a lack of supply. It wasn't what he said, it's how he said it. He truly believed it.

It's often said on here that Brown will do anything to prevent a HPC. Personally, I doubt he can see it coming.

I am now wondering whether he hasn't been given some good advice. :o

There is nothing they can do, but maybe what they don't want to do is panic people into a stampede for the exit by stating that house prices are going to fall and substantially.

The best thing is to let it play out (save the nightmare armageddon scenario) and then clamp down on LTVs etc (if they have the balls to do that).

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The city wizkids that have come up with all these fancy ways of robbing people.

Now they have ******ed up the financial system they are going to slink off in a sulk cause they are not properly

appreciated.

the city wizkids wise one?

are they the ones that decide to "fight inflation" by setting a stupid "2 % target"?

are they the ones that said we will not target money supply growth but inflation wise one??

dont blame smart people who play the game to win.

blame the goverment who have fooked up rules.

if the BOE remit was to keep money supply growth at 2% instead of inflation we would NOT have had HPI at levels anywhere near what we have had.

im disapointed wise one

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You xenophobic communist scum are the problem. The extra hand-outs to shared ownership scroungers and the massive taxbreak for BTL layabouts are two measures in the budget to keep house prices up. Check the small print for more...

I am neither xenophobic or communist or scum thank you very much.

And I dont agree with the shared ownership hand outs or the taxbreaks fro BTL .

The interview I was commenting was in the City and the non-dom I was refering to was a City wide boy

who because they have no loyalty to this country will not think twice to selling it down the river as long as he gets his bonus.

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the city wizkids wise one?

are they the ones that decide to "fight inflation" by setting a stupid "2 % target"?

are they the ones that said we will not target money supply growth but inflation wise one??

dont blame smart people who play the game to win.

blame the goverment who have fooked up rules.

if the BOE remit was to keep money supply growth at 2% instead of inflation we would NOT have had HPI at levels anywhere near what we have had.

im disapointed wise one

I see its all the governments fault oh thick one.

They are guilty of turning a blind eye to the crooks in the City, but the City wide boys were the ones

creating the CDOs, CDS derivatives and all the other ****** that now threatens global financial stability due to

their own greed.

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I see its all the governments fault oh thick one.

They are guilty of turning a blind eye to the crooks in the City, but the City wide boys were the ones

creating the CDOs, CDS derivatives and all the other ****** that now threatens global financial stability due to

their own greed.

wise one...

could they have done any of those if the goverment said to the BOE target money supply growth not inflation

the answer wise one, is no, they could not have

so wise one. it was infact purely and simply the GOVERMETNS fault.

wise one ;)

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wise one...

could they have done any of those if the goverment said to the BOE target money supply growth not inflation

the answer wise one, is no, they could not have

so wise one. it was infact purely and simply the GOVERMETNS fault.

wise one ;)

In fact I blame them both, the government and the city.

But its no good these city wide boys making out its nothing to do with them and threatening to leave the country because they have been asked to pay some tax. I repeat if they were doing a good job and the economy

was in good shape then maybe let them get on with it. But seeing we are facing a financial meltdown I say

let them ****** off or better still put them in prison for theft and fraud.

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In fact I blame them both, the government and the city.

But its no good these city wide boys making out its nothing to do with them and threatening to leave the country because they have been asked to pay some tax. I repeat if they were doing a good job and the economy

was in good shape then maybe let them get on with it. But seeing we are facing a financial meltdown I say

let them ****** off or better still put them in prison for theft and fraud.

its purely and only the goverments fault

its stupid to say BTLers caused this mess becuase it wasnt them that CAUSED it, it was artificilly low interest rates.

just like saying "citi viz kidz" caused it is stupid.

they didnt, the is fully the gov fault

also, im sure there are a lot of differing views on this.

but personally i dont see why someone earning 500k should be paying a penny more tax than someone earning 50k after all it costs the state the same to look after each of them (argubly it costs the state less to look after the person on 500k a year)

then again i think goverment should be so small that almost all of us would pay ZERO tax

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We feared:

- Repeal of CGT for BTLs

- U-Turn on Non Doms

- Abolition of Stamp Duty for FTBs or rebanding

- Alteration of 2% inflation target

None of these measures occurred.....

Watch for the offloading of BTL properties en masse - there will be a massive surge in supply. This will be the next straw on the already weary camel's back which is the failing housing market.

Also, watch for the confidence drop of all those struggling with mortgages hoping for budget concessions...........

My conclusion about the budget: They have failed to factor in the about to arrive worst recession since the 70's. Perhaps even since the 1930's. It all made assumptions that the miracle economy will be immune from the economic storms that are or will strike everywhere else.

Cameron did a decent job in replying. He did not mention the HPC now underway and this will loom very large indeed for the entire economy in the weeks and months ahead. The Libdem response was weak. Vince Cable should have handled it.

I thought the budget was largely dishonest for overlooking the downside of the miracle and for failing to mention anything about debt levels, reposessions, collapsing mortgage market and the inability of people to buy homes. If I had been there to put a question to Broon it would have begun with my quoting his 1997 budget statement about not letting hoose prices get out of control. And what leads to him to believe that we shall not share in the same fate as the US, Ireland, Spain given that we have had the same kind of miracle house prices.

His answer would be along the lines of: we have had ten years of uninterrupted blah blah blah blah.

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  • 293 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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