Saturday, December 3, 2011

Logic fail

House price slump wipes £20,000 off town home prices

Apparently, prices fell most in Hartlepool YoY according to the latest Land Registry index. Labour councillor Jonathan Brash, who represents the Burn Valley ward, said “to turn this around we need to make it easier to get a mortgage and ensure there are more affordable homes, particularly for first time buyers, so that we revitalise our housing market.” But what does the phrase "turn this around" mean here? I can only think that "turning around" price drops means price rises yet councillor Brash also wants "affordable homes" to be built as well. It's a politician's job to be popular so I suppose we shouldn't judge too harshly but the basic contradiction in bemoaning cheaper accomodation while praising affordable housing is absurd.

Posted by quiet guy @ 11:24 AM (1903 views)
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8 thoughts on “Logic fail

  • Imminent_plunge says:

    Or the alternative headline: Housing becomes more affordable for FTBs

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  • Brash by name and by nature, I would assume

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  • mark wadsworth says:

    “the basic contradiction in bemoaning cheaper accomodation while praising affordable housing is absurd.”

    Yes, and the pol’s have been doing this for ten years. But that’s not the worst contradiction trotted out by the Home-Owner-Its.

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  • Being a Northener I don’t usually subscribe to the “it’s grim oop North” joke, however, it does apply to Hartlepool and perhaps that’s part of the reason for the fall in prices.

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  • @mr g
    Wasn’t the (alleged) grimness already priced in – has it suddenly got a lot grimmer?

    From the estate agent: “These figures are not a fair reflection of Hartlepool across the board. Some areas such as West Park have actually seen an increase while other areas have stabilised.”

    Well, if the 20% is a mean fall and some areas have stabilised and some have increased, then I can only assume that other areas of Hartlepool have fallen by 40% (if the distribution of price falls is symmetrical).

    The phrase ‘affordable home’ is itself an absurd concept – the other homes being built are presumably ‘unaffordable homes’.

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  • little professor says:

    Really bizarre. He wants to ‘turn round’ falling prices and somehow this will lead to more affordable homes for first time buyers. Wish some journalists would actually challenge the politicians when they come up with nonsense like this. Paxman did a decent job with Grant Shapps on this point last week.

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  • ‘Affordable homes’ is a euphanism for the poorest slave box accomodation. An average earner may access ‘the first rung on the pwoperdy ladder’ by acceptance of a lenghty period of existance akin to bonded labour. The politico who spouts the benefits of ‘affordable housing’ lives themselves in an ‘unaffordable home’, and further owns a BTL portfolio of ‘affordable homes’. Their ‘unaffordable home’ is located far from the BTL ghettoes that have despoilt the lives of so many of us.

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  • Only £20k,

    Seen a house i like but its £30k more than i can afford, i’ll just have to wait a bit longer…

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