Saturday, July 28, 2007
We out to campaign agaist this sh*t!
Desperate to get on that ladder? Believe it or not, you could now
Interesting the government is "downplaying" the issue. Maybe they have finally come back to their senses and decided to stop funding these idiotic equity schemes. with taxpayers money. The press should stop inflating this bubble. But they are too stupid to understand.
Posted by confused76 @ 12:50 PM (917 views)
7 thoughts on “We out to campaign agaist this sh*t!”
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Scott says:
Same sh*t different day. Prices rising, government to help first time buyers, black man arrested for shooting another black man in London, another soldier dead in Afghanistan. God forbid anything original should happen.
Willit says:
But it is a loan, not a gift. When you come to sell your home, you will have to pay it back. The amount you pay back stays at 17.5%, so you will have to hand over 17.5% of the market value of your property at the time of the sale. In other words, buyers are signing away a share of any future “profit”.
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So if you borrow £60K and your house halves in value and you get repossessed, presumably the government only take £30K back..?
nopensionnohouse says:
So if at sale time the government takes a pro-rata share in the profit when the house price goes up does it also share the loss if the property goes down in value pro-rata?
Or do you still have to pay the full loan back despite a real drop in house price?
Bet you a fiver it’s the latter!
Scott says:
People who believe that politicians go into politics to help others are stupid, naive and weak. Stop waiting for a life boat and learn to swim or you will drown with all the other losers.
confused76 says:
“Be brave and tax UK property” in today’s FT
http://www.ft.com/cms/s/7bc0ff6a-3b8b-11dc-8002-0000779fd2ac,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F7bc0ff6a-3b8b-11dc-8002-0000779fd2ac.html&_i_referer=http%3A%2F%2Fnews.google.co.uk%2Fnews%3Fhl%3Den
With the housing green paper, the government has at last recognised that an important factor behind Britain’s high house prices is a lack of supply. It is less clear that it has grasped the fact that high house prices are supported by the twin pressures of supply and demand. A coherent policy would address both blades of the scissors.
Much housing is under-taxed. Someone who buys shares has to pay income tax on the dividends and possibly capital gains tax on the capital appreciation. Someone who buys a house is able to live in it paying council tax but no other taxes. This creates a strong incentive for people to save by buying housing rather than by buying shares, with the consequence that house prices are driven up. People who bought their houses cheaply some years ago enjoy capital gains that are not, from the point of view of the country as a whole, additional saving, but simply a transfer from those who do not yet own houses to those who do.
denzil says:
The eligibility criteria is probably quite tight!
Something like a gay albino FTB trapeze artist bringing up a child alone with one leg longer than the other who can sing the Lords prayer backwards whilst crying milk.
confused76 says:
Willit
I may be wrong, but I believe we are in the s**t because there is too much cheap credit around, and if any Joe Blogg can borrow at leisure from the government that will inflate asset prices even more