Tuesday, September 2, 2008

More bail-out plans announced by the communities secretary, Hazel Blears

Struggling homeowners to become tenants under new scheme

Thousands of families struggling to keep up with their mortgage payments will lose their homes to housing associations in return for their debt being written off, under the housing rescue package announced by the government today.

Posted by mountain goat @ 12:35 PM (1002 views)
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8 thoughts on “More bail-out plans announced by the communities secretary, Hazel Blears

  • “a scheme to allow housing associations to buy homes from those facing repossession – at market rates – and rent them back. Those who do “sale-and-rent-back” deals with private operators, who are unregulated, are sometimes ripped off by unscrupulous companies.”

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  • Again and again, governament thinks that protecting working class, the problems will be solved.
    I live in central London and probably 200m from my flat there council houses. well those people had their house for free from the governament and live in central london. Most of them don’t have jobs and are involved in illigal activities.
    Why do I – I have worked all my life to afford to live in centrtal london – have to live close to those people?
    Mr Brown, thses mesures won’t allow you to stay at the governament!

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    we may be thinking, prices will come down again to a nice affordable level.

    But, and this is getting scarier day by day………….. what if, in a few years time, there was no such thing as a free market anymore ?

    Please read the following statement that I come across over 5 years ago and have kept as a reminder.

    The cost of housing and financing housing would gradually be made so high that most people couldn’t afford it. People who already owned their houses would be allowed to keep them but as years go by it would be more and more difficult for young people to buy a house. Young people would more and more become renters, particularly in apartments or condominiums. More and more unsold houses would stand vacant. People just couldn’t buy them. But the cost of housing would not come down.

    (Cost, not price. When watching the cheap homes for sale program on BBC last week, it clearly shows housing owned by councils that were perfectly good homes but no-one was allowed to buy them and they were left there to rot)

    Homes could be taken by increased taxes or other regulations that would be detrimental to home ownership and would be acceptable to the majority.

    (Just read the article thats been posted)

    What if the plan is to make housing completely unaffordable ?

    It doesn’t seem that far of the mark, all the signs are there.

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  • @debtfree – can you cite the source of that statement?

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  • The document is a transcript done in 1988 and are the reminiscences By Dr. Lawrence Dunegan, of a speech given March 20, 1969 by Dr. Richard Day


    Page 28 / 30 –

    The other headings also make good reading if you don’t put up mental barriers, try Finance on page 27.

    Not saying its all true, just strange that I read this over 5 years ago and thought that would be impossible, but of course, its now becoming a reality.

    All the best.

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  • debtfree @ 3

    But prices are dropping like the preverbial stone ?

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  • my last post – should read proverbial, sorry, spellings gone haywire since i fell of me chair this morning taking in the blubbermints proposals

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  • @7. nooneo

    best rates require a 25% deposit and thats even when prices are still stupid.

    they would have to drop at least 30% for any sort of normality to return.

    then you have to ask yourself, what will be the criteria for lendging ?

    how many FTB have 30-40K spare to buy a home ? not many.

    it won’t happen overnight, but slowly slowly, housing is becoming unaffordable for most people and I think having control of food, housing and money is a long term objective for the private banking cartel.

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