Monday, September 1, 2008

Just let prices fall!

How to help first-time homebuyers

Why would you want to invest in half a house now when, if you wait for a year or two, you will be able to afford the whole house? Why should you want your taxes used to bail out feckless homeowners who borrowed too much during the boom? Why buy now and save 1per cent in stamp duty when house prices possibly still have a further 30 per cent to fall? None of the measures announced today will genuinely be in the interests of first-time buyers. In reality, they are a crude attempt to buy the votes of those who already own property and are sick at the diminishing value of their investments. If the Government were to replace the money that has been lost from the housing market, they would have to double income tax or close the NHS.

Posted by little professor @ 09:30 PM (1275 views)
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9 thoughts on “Just let prices fall!

  • Can’t wait to hear what GB will say tomorrow!!

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  • Peter – It won’t be:

    Increasing personal allowances by 50%.

    Low starter Income Tax rates.

    Cuts in Fuel duty.

    Abolition of stamp duty for under £400,000

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  • Anything announced by GB will be a complete waste of time and money as it will ultimately be unsustainable.

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  • http://www.timesonline.co.uk/tol/news/politics/article4656221.ece

    “A big majority of the public believes that the main measures expected to be announced by Gordon Brown to help housebuyers and to offset high fuel bills will make little or no difference to them and their families.

    A new Populus poll for The Times, undertaken over last weekend, reveals the extent of voter disillusionment with the Brown Government on the eve of the announcement of its housing plans.”

    Looks like most of the electorate has already made their mind up about Brown and ZaNu labour.
    I am still looking forward to his announcement tommorow, only because of the inevitable derision that will follow.Brown and his government are sinking fast.

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  • ‘Show us the money!’ Mr Brown

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  • good grief the Times has actually published something sensible on the housing market for a change!!!

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  • “If you don’t own property already, falling prices are the best way to get you on the housing ladder”

    The wife and I had a great laugh with this…

    When does “ladder” become “snake” for The Times?

    😀

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  • it_is_going_with_a_bang says:

    Every day I wait to see what stupid scheme Gordon Brown has thought up to save his political ar5e.

    If property prices are dropping then it would indeed make sense to leave the market to itself – if it’s first time buyers he wishes to help.
    Nothing Gordon Brown does from this point will save him – although I feel fairly sure he wreck the country’s finances trying.

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