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Rescue Plan To Save Property Market

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Maddy, Maddy, Maddy, Maddy, Hamlet ...

But as for the rescue plan, wow! Now the housing market needs rescuing. That's odd, I still have a friend who says this isn't really even a problem with the housing market. The credit crunch is a mere bump in the road.

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Maddy, Maddy, Maddy, Maddy, Hamlet ...

But as for the rescue plan, wow! Now the housing market needs rescuing. That's odd, I still have a friend who says this isn't really even a problem with the housing market. The credit crunch is a mere bump in the road.

Some bump...........some road.

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I like the Metro headline, "Cruel lenders seizing homes".

We all know lenders have obligations to shareholders and contracts with borrowers. We also know that many turned a blind eye in the good times and when the going gets tough they recoup what they can how they can but ....

What about, "Cruel lenders force people to borrow money they can't afford to pay back". I never saw that as a headline, anyone else here see it?

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My personal favourite is from the Metro: "Cruel Lenders Seizing Homes"

http://www.metro.co.uk/news/article.html?i...p;in_page_id=34

I think perhaps I ought to check my seat on the Tube tomorrow morning for "soiling" before sitting on it...

:lol:

From the link

This year, there are likely to be 45,000 repossessions. The figure is still well below the level seen in 1991, when 75,000 homes were seized.

What's the problem then?

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So they are going to save the property market from...market forces? :lol:

No, they are going to save the property market from sound fundamentals and the most robust economy to manage a downturn.

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I like the Metro headline, "Cruel lenders seizing homes".

We all know lenders have obligations to shareholders and contracts with borrowers. We also know that many turned a blind eye in the good times and when the going gets tough they recoup what they can how they can but ....

What about, "Cruel lenders force people to borrow money they can't afford to pay back". I never saw that as a headline, anyone else here see it?

How on earth did the lenders force anyone to do that? :blink:

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Hold on: this week we have seen headlines that house prices will "soar" beyond the means of UK families within 3 years. In this context, why is the government trying to "stimulate" the housing market? OK, some may have suspected the CEBR and NHF are liars who just made up their figures in order ramp property prices. It sounds as if the government knows it, otherwise why would they be introducing these crisis measures?

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Hold on: this week we have seen headlines that house prices will "soar" beyond the means of UK families within 3 years. In this context, why is the government trying to "stimulate" the housing market? OK, some may have suspected the CEBR and NHF are liars who just made up their figures in order ramp property prices. It sounds as if the government knows it, otherwise why would they be introducing these crisis measures?

Very good question, to which I don't know the answer :rolleyes:

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Very good question, to which I don't know the answer :rolleyes:

It's all very sinister and Qusling Brown is clearly mentally unwell.

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The DSS would pay your mortgage (interest only) after two months unemployment!

Well, that stopped me being homeless back then. Lenders get a bit "legal" after three months of non-payment!

That facility has now been removed, about 1992-ish, I think!

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My personal favourite is from the Metro: "Cruel Lenders Seizing Homes"

http://www.metro.co.uk/news/article.html?i...p;in_page_id=34

I think perhaps I ought to check my seat on the Tube tomorrow morning for "soiling" before sitting on it...

:lol:

I've given the Metro my thoughts. I have also cancelled my support for Shelter which is a bleeding disgrace.

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So they are going to save the property market from...market forces? :lol:

They are trying to save the British economy; which is the housing market.

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so they're using my tax pounds to prop up the market they've priced me out of ?????????

It would appear so unless I am seeing it wrongly......... good plan eh!!

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so they're using my tax pounds to prop up the market they've priced me out of ?????????

Yes.

Tax pounds confiscated from a system which forces Joe Public to borrow them into existence, at interest, from commercial banks.

Joe Public pays interest for the existence of his means of exchange, then pays swingeing taxes to enable his government to service even more debt on behalf of him and his descendants.

Joe is shackled doubly to the debt treadmill forever. Neat.

Good system for the bankers, good system for the political class, crippling for Joe Public.

Edited by The Spaniard

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Saw all the samein Sept October in the US.

Lots of plans.

Lots of politicos demanding rescues.

if any took place, none worked. Just ended up with more money for the banks.

Move along. There is no rescue that can work until the BUST has done its work.

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Guest Steve Cook
Yes.

Tax pounds confiscated from a system which forces Joe Public to borrow them into existence, at interest, from commercial banks.

Joe Public pays interest for the existence of his means of exchange, then pays swingeing taxes to enable his government to service even more debt on behalf of him and his descendants.

Joe is shackled doubly to the debt treadmill forever. Neat.

Good system for the bankers, good system for the political class, crippling for Joe Public.

bang on the nail

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The DSS would pay your mortgage (interest only) after two months unemployment!

Well, that stopped me being homeless back then. Lenders get a bit "legal" after three months of non-payment!

That facility has now been removed, about 1992-ish, I think!

The problem with this I suspect is that it may be 'worthwhile' for quite a few people who are struggling to pay their mortgage on their current salary to simply be sacked or made redundant. In other words, they needed a job to get a say a low start mortgage a few years ago but now the rate has gone to SVR then it will be worthwile sitting back and let the Govt pay the bill.

Indeed, it may well prove to be the biggest poverty trap ever constructed. If wages start falling and interest rates stay high it may never be worth some people going back to work so long as the Govt is paying the mortgage.

I suspect that this particular measure has been specifically constructed to assist in areas of fairly high unemployment and welfare dependency - say like Newcastle where NR is based and is perhaps most likely to suffer the most from mortgage defaults arisng from job losses. Indeed, under this scenario the Govt woudl be paying the mortgage interest on a mortgage it actually already owns via the NR.

Wonder of the Govt will pay the mortgage on a 125% 'Together' loan or perhaps if someone has just rolled up all their credit card debts and car loans into the mortgage as well - just before they lost their job?

EDIT: I suppose a mortgage being payed by the Govt will be classified as performing on the NR books even though the Govt is really paying itself. Indeed a mass default on the NR mortgage book with all the interest being paid by the DSS as supplementary benefit would make NR look like the best performing bank in the UK. Now that would be an irony ;)

Edited by Wad

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  • 399 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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