Friday, Mar 20, 2015

A Dubious Policy

Telegraph: Help-to-buy ISA could distort housing market

"The Treasury estimated that around 285,000 first-time buyers will use the scheme every year."
Yet February saw barely 19,000 FTBs, and prices are dropping.
These ever-more-convoluted Treasury tweaks are just a sign of the growing govt desperation, as they know just how bad the market really is.
When the government has to resort to giving people free money to get 'on the ladder', you know the top is in.

Posted by debtserf @ 11:02 AM (6353 views)
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6 Comments

1. sibley's b'stard child said...

Govt of day in 'subsidies push up land prices' shocker.

Just when you think they've played their last hand, the VIs, rent-seekers and trough-snufflers pull another ace out of their sleeves. We can look forward to more of the same sh*t under Labour.

Friday, March 20, 2015 01:08PM Report Comment
 

2. mombers said...

If this policy didn't distort the housing market, what's the point?

Friday, March 20, 2015 01:39PM Report Comment
 

3. hpwatcher said...

I've looked into this....pretty hopeless. Won't do anything.

Friday, March 20, 2015 02:02PM Report Comment
 

4. jack c said...

HP - if it is going to do anything it will be a minute help to the raft of prop prices up measures ie save £12K and the Gov throws in a further £3K

Hats off the greenbay he had this one right all along

Friday, March 20, 2015 03:07PM Report Comment
 

5. Hugh111111 said...

An extra £3K means you can borrow £60K more (assuming a 95% LTV). So this will have a huge impact.

Saturday, March 21, 2015 03:05AM Report Comment
 

6. Dancermo said...

One wonders how long it will be before they run out of "cards up sleeves"
You can't build a house in parts ,for the price you can buy a ready made for (second hand) that's got to throw up warning signs, builders are doing part rent part buy not out of any good intention but to maintain their profit margins.... it will end in tears...

Monday, March 23, 2015 07:02PM Report Comment
 

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