Thursday, October 14, 2010

Necessary

Is housing market headed for profound change?

The Conservative party is quietly redefining home ownership, writes Gaby Hinsliff, in a way which could help first time buyers but hit those relying on rising house prices to fund their lifestyles.

Posted by dill @ 10:57 AM (3282 views)
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8 thoughts on “Necessary

  • Towards the end of the article: “If Shapps really means it …”

    That’s quite revealing. Is a UK government really going to resist meddling with the property market? I’m open to the idea that Shapps is serious but only because the government knows that it cannot keep the plates spinning until the next election.

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  • talk is cheap.

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  • sibley's b'stard child says:

    Exactly QG, Shapp’s rhetoric bears no resemblance to his policies. I presume they’re resigned to the fact that, in the short term, there’s little they can do to stop the rot although their long-term goal is pretty evident in their NIMBY-appealing policies. If I do get the crash that I so yearn, it will be in spite of and not because of that supercilious toady.

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  • Preparing people for the coming crash. The govt know they can’t afford to prop up the market anymore, so they’re trying to present a correction as being their policy for “stability”.

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  • “The govt know they can’t afford to prop up the market anymore”

    Absolutely – and they also know that stability can only be achieved after there has been a major price correction..

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  • Far to big a risk IMO to try and prop it up now only to find it starts falling in 2-3 years time.

    If it falls 30% over the next couple of years at least it should be steady for the next election, when the current falls can be blamed on Labours bubble.

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  • thats why they cancelled council tax band revaluations

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  • The low bank of England base rates over the last 2 years will only really have helped those who bought base rate trackers before the crash . Banks did not pass it on to anyone else , just used it to shore up their finances .

    I have a lot of sympathy for the poor unfortunates who bought towards the top of the market .

    As soon as the bubble took off it was already too late to stop people getting hurt .

    Will lower prices increase affordability though when we all have to save more for our old age and other cost of living items go up whilst wages are going down ?

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