Saturday, May 21, 2011

The bête noire. Self destruction or social regression?

Protecting the housing market means a lost generation of buyers

Too many people have too much to lose from a falling housing market, but it means excluding a generation.

Posted by dill @ 07:25 AM (2449 views)
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12 thoughts on “The bête noire. Self destruction or social regression?

  • sibley's b'stard child says:

    Concise summary, just a shame it’s tucked away in the Money Blogs.

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  • “Self destruction or social regression?”

    Both. Imagine if the money the typical UK mortgage borrower pays had been invested in something more productive instead of servicing a huge loan. Thanks to BTL, we’ve managed to add social regression into the mix as well.

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  • how astonishing this situation is.Our kids…the future and the future taxpayers are being excluded from housing market
    to prop up the greed and fraud of the last 10-15 years

    ftb need a buy and rent strike

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  • the number cruncher says:

    Excellent article – THe comments a excellent as well.

    This one by bilahora was first rate as they described the moral bankruptcy of the established left wing political parties and media very well:

    ” all started to go wrong when the banks were saved.
    Actually no that’s wrong, it all went wrong when easy credit helped people live beyond their means. Beyond their dreams.
    Un-earned money is rarely well spent and that’s what easily arranged credit is. If people have to struggle then they will spend their rewards wisely but the opposite was happening. So people borrowed for stuff they didn’t need for, houses that normally they couldn’t afford and if they hadn’t been able to afford would not have gone up in price.
    Anyway, the collapse of the banks like the collapse in house prices would have been the morally correct result of stupidity and greed and would have been a needed lesson for us all and for the next generation.
    What were we and what are we so worried about regarding price collapses and bank collapses? Is modern society so brilliant that it needs to be saved? Who would suffer the most if banks collapsed or house price fell? Not the poorest that’s for sure. Who would benefit the most? The creative and clever and hard working who at the moment have no chance because they have no money.
    The press, media and more strangely most left of centre commentators and individuals were all behind Brown saving the banks – even this newspaper – well I didn’t agree and I still don’t.
    Out of hardship and collapse comes something new and different and often fairer – level the playing field, allow the landless penniless innovators prosper – it would have been a bloodless revolution – a new start – why did the left wing back such action? Perhaps because so many of them are indeed champagne armchair socialists and had too much to lose.
    Now we are all paying and will continue to.”

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  • 3. taffee said…’ftb need a buy and rent strike.’

    ~ Sad, but true, someone needs to take the bull by the horns to effect change.

    It isn’t going to be anybody else, that’s for sure.

    Close your eyes and image that, just for a minute. WOW!… And our prisons are not big enough and the justice system not fast enough.

    A bit of mayhem from the people would make a refreshing change. There is a double edge to every sword.

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  • letthemfall says:

    “its proposals are couched so as not to scare the type of chumps who lost all sanity over inheritance tax”

    How this phrase sums up a core fault with this country. The chumps – those who think like Alf Garnett, who support privilege even though it harms themselves.

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  • The crippling cycle of boom and bust is a consequence of financial deregulation, so beloved of Anglo Saxon economies and so destructive

    And the fool who instigated all that wants to run the IMF – what a joke. People have yet to realise how badly they have been served by nu Labour.

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  • 6. hpwatcher said, “And the fool who instigated all that wants to run the IMF – what a joke. People have yet to realise how badly they have been served by nu Labour.”

    ~ Look at what the IMF caretakers have done recently to a man who wanted to cut some people a bit of slack. (live by the sword…)

    It’s all about timing and points lads.

    Gordon the Gofa would be perfect, but I think the French have other ideas.

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  • 5. letthemfall

    It’s nice to hear from a Royalist from time to time.

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  • 2. quiet guy said…”Self destruction or social regression?”

    You missed one, Group promotion via the two you questioned.

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  • letthemfall says:

    Your analysis is hardly more serious hpw

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  • Hmm. Maybe some socialism would help. I’ve heard 25% of the population are likely to turn off their heating this winter as they can’t afford it. Yet if we re-nationalised the utilities we could subsidise the 200/500 units or whatever per quarter to make heating much more affordable.

    If we had a national programme of social house building, by local authorities so the private sector couldn’t distort the market by only building ‘executive houses,’ we could put real downward pressure on rents. By having a policy of supporting the tenant rather than making it easy for BTL ‘entrepreneurs’ it could be good news for the many. There are lots of left-of-centre things we can do; yet there is much of the economy that can be left to the private sector to do what it does best — create wealth.

    Labour have failed the country on this. They are not a left-wing socialist party, and I really wish they were. Yet it is not Labour’s fault. If we refuse to accept that some things are better done for the common good rather than seeing everything as a waste of money unless it can be measured in a business way then things will not get better. But if we don’t, they won’t move to the left.

    My statistic of 25% of the population freezing this winter if frightening. However I expect it will be mainly in the north of the country. I find it fascinating (and heartening, given I hate the Tories with a passion) that even though Labour did badly at the last election the Tories couldn’t win outright. It seems the trend is for people to turn away from the Tories, and from Labour, and either vote for other parties or not bother at all.

    We are slowly coming to a crunch point. The thing is we need both socialist and capitalist policies to get a well balanced economy. But it seems as long as we stress the one and ignore the other some will do very well thank you very much (including me — I have a house, no debts, and don’t really care except for the future of my kids), while others suffer from month to month, with no sign of things getting better.

    So whilst I can look objectively at things I would still like to see a certain female former PM boiled in oil.

    What’s that nurse? I’ve got to get back into bed? But…

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