Politics

[desmondTUTU 0]

 

 

whats that from

[desmondTUTU 0]

id like to point out the demand for free housing is rising. not paid for housing.

[Phil 6]

The housing market is not like the confectionary business. Demand is driven by need there is a constant need for housing due to a rising population. Ergo demand is high. For the purposes of the housing market the lack of mortgage is a part of the supply chain. Therefore no mortgages = no supply not no demand as you put forward in your model.

 

It does seem you agree with the point I was making, so not sure why you started with the inaccurate economics lesson. It's a law of economics, universally accepted outside of toontastic

 

 

I totally agree the government scheme is to convert the potential demand into actual demand, which is why I support the scheme and pulled Renton, Padlock and Sweetleftpeg up for slagging it off without a proper reason.

 

 

These two posts cover most of it;

 

Renton saying we need more houses instead of help-to-buy; and padlock thinking help-to-buy is the same as banks selling mortgages risk free

http://www.toontastic.net/board/topic/27471-politics/?p=1231805

 

Sweetleft peg saying help to buy is bad

http://www.toontastic.net/board/topic/27471-politics/?p=1231995

 

 

It's clear as day banks arent lending at sensible rates to people with 5% as the risk is too high! This scheme just gives people access to the low base rate - for a fee.

 

Anyone who thinks that's a bad idea doesnt understand it.

 

 

Rentons comment about new houses is actually irrelevant as this is a 12 billion pound national insurance policy. 200k in house will have very little affect on anything but the neighbours.

[Sonatine 9996]

 

 

whats that from

 

 

http://knowyourmeme.com/memes/that-escalated-quickly

[NJS 3978]

Openeing the scheme to BTL is a fucking disaster in the making - more houses straight on the housing benefit gravy train.

 

What we need is hundreds of thousands of houses built as social housing with no right to buy bollocks - if the end result of that after ten years is a housing market that hasn't bubbled then all the better. I've said many times the Tory obsession with property prices has crippled this country for 30 years (no matter how much its "boomed" otherwise) and its root was probably the worst single thing the bitch did. The smugness of people who own their houses and compare their equity as a badge of honour sickens me - its why I'd relish 100% inheritance tax with huge fines for attempted avoidance.

[Phil 6]

Openeing the scheme to BTL is a fucking disaster in the making - more houses straight on the housing benefit gravy train.

 

What we need is hundreds of thousands of houses built as social housing with no right to buy bollocks - if the end result of that after ten years is a housing market that hasn't bubbled then all the better. I've said many times the Tory obsession with property prices has crippled this country for 30 years (no matter how much its "boomed" otherwise) and its root was probably the worst single thing the bitch did. The smugness of people who own their houses and compare their equity as a badge of honour sickens me - its why I'd relish 100% inheritance tax with huge fines for attempted avoidance.

Is it open to buy to let? I dont think it is.

 

Try not to think of the scheme as anything more than helping 95% LTV people get 80% LTV rates for a fee. i.e. 2.9% instead of 4.99%

Edited October 6, 2013 by Phil

[Phil 6]

Cheerio.

no link to the VAT rise nerd love in?

[desmondTUTU 0]

Openeing the scheme to BTL is a fucking disaster in the making - more houses straight on the housing benefit gravy train.

 

What we need is hundreds of thousands of houses built as social housing with no right to buy bollocks - if the end result of that after ten years is a housing market that hasn't bubbled then all the better. I've said many times the Tory obsession with property prices has crippled this country for 30 years (no matter how much its "boomed" otherwise) and its root was probably the worst single thing the bitch did. The smugness of people who own their houses and compare their equity as a badge of honour sickens me - its why I'd relish 100% inheritance tax with huge fines for attempted avoidance.

a 100 percent inheritance tax? are you out of your mind?

 

ive heard some shit on forums but that has to be close to the top.

[Renton 17776]

Rentons comment about new houses is actually irrelevant as this is a 12 billion pound national insurance policy. 200k in house will have very little affect on anything but the neighbours.

No, it's really not irrelevant for all sorts of reasons that have been pointed out. Please explain to me though how this proposed scheme Wil not have a perverse effect on house prices though if you get a chance.

[NJS 3978]

a 100 percent inheritance tax? are you out of your mind?

 

ive heard some shit on forums but that has to be close to the top.

It's the first step to a true meritocracy.

 

And before you say it its not a tax on the dead person, its a tax on the beneficiary.

[PaddockLad 14585]

It's the first step to a true meritocracy.

 

And before you say it its not a tax on the dead person, its a tax on the beneficiary.

 

So what happens to my folks house when they finally depart this mortal coil?...

 

The Daily Mail would love this forum.... bar one or two notable exceptions, we're a bunch of raving Trots

[NJS 3978]

 

So what happens to my folks house when they finally depart this mortal coil?...

 

The Daily Mail would love this forum.... bar one or two notable exceptions, we're a bunch of raving Trots

Auctioned with proceeds to the state.

 

I'm very honest in my leftie lunacy.

 

 

[Phil 6]

No, it's really not irrelevant for all sorts of reasons that have been pointed out. Please explain to me though how this proposed scheme Wil not have a perverse effect on house prices though if you get a chance.

From what I understand they are just setting up a 12 billion pound insurance policy to cover the risk of loaning people with 95% LTV the rates of 80% LTV.

 

So in real terms over the next few months we'll see 2.99% rates on 95% LTV, instead of the current 4.99%.

 

This isn't a big deal in the grand scheme of things, as anyone with a 5% deposit can already get a mortgage at 4.99%

 

There is no money being loaned from the government to the banks or the buyer/seller. The buyer will also have to pay an arrangement fee.

 

 

It's a really well thought out idea, which wont be nearly as generous as the new build equity loans.

 

 

A stimulation scheme, which will probably take more money in additional tax than lose in mortgage defaults.

[desmondTUTU 0]

It's the first step to a true meritocracy.

 

And before you say it its not a tax on the dead person, its a tax on the beneficiary.

 

Where would the incentive be to work hard and leave your belongings to your family?

[Renton 17776]

I think it's funny personally why people think it's good house prices constantly rise, which this scheme will encourage. The only people that increasing prices benefit is people wanting to downsize. My house us worth 300k, problem is the one i want is valued at 600k.

[desmondTUTU 0]

Auctioned with proceeds to the state.

 

I'm very honest in my leftie lunacy.

 

Your a twat. Your lot hate our country and drag us down.

[Phil 6]

While we're on radical theories, I liked the one about bringing the retirement age forward to 55 to free up jobs for the next generation.

[Phil 6]

I think it's funny personally why people think it's good house prices constantly rise, which this scheme will encourage. The only people that increasing prices benefit is people wanting to downsize. My house us worth 300k, problem is the one i want is valued at 600k.

The government have been pretty clear they'll pull the scheme if prices rise. I think that's why its been given a winter date (and randomly brought forward to catch people off guard and stagger take up).

 

 

Agree with the house price rise thingy. A stable predicable market is best for everyone.

 

You have to give credit to the government for some of their non-front page policies. Like increasing council tax to 150% on empty properties and small business rate relief (100% free).

[NJS 3978]

 

Your a twat. Your lot hate our country and drag us down. 

A compliment complete with grammatical error. Makes life worthwhile.

[NJS 3978]

 

Where would the incentive be to work hard and leave your belongings to your family?

For your own life's enjoyment- your kids should look after themselves after you give them a decent start rather than them looking forward to your death.

[ewerk 26345]

The government have been pretty clear they'll pull the scheme if prices rise. I think that's why its been given a winter date (and randomly brought forward to catch people off guard and stagger take up).

 

 

Agree with the house price rise thingy. A stable predicable market is best for everyone.

 

You have to give credit to the government for some of their non-front page policies. Like increasing council tax to 150% on empty properties and small business rate relief (100% free).

 

I'll be serious now and I'll ask you what you think the point of this scheme is? It seems to be that you believe the main benefit to be that those looking for 95% mortgages get cheaper mortgage rates, please correct me if I'm wrong.

[Christmas Tree 3997]

The scheme IMO is designed to help people buy a house who currently can't put together the outrageous deposits currently asked for by banks.

 

People with decent wages can't get on the ladder because the sensible low deposit mortgages that have been common for donkey's years have been stopped.

 

This will increase demand and will keep the housing market rising.

 

That does mean a UK housing bubble crash is likely. Even in 2008, the UK housing market wasn't an issue.

 

Sure a few hundred thousand new council houses would be nice but it's never going to happen under any party.

 

Part of me even thinks the private sector providing more social housing will be a good thing and lead to much nicer estates for people to live on. Gentoo seems to be knocking some very nice looking estates up in the North east and I'm sure will not put up with some of the problems families the way the councils used to.

[ewerk 26345]

Why not keep it restricted to new builds though? The emphasis should be on increasing the supply of housing and creating much needed employment for the construction sector, I'm failing to see how increasing the value of the existing housing stock is of a any significant benefit to the country at large.

[Christmas Tree 3997]

Why not keep it restricted to new builds though? The emphasis should be on increasing the supply of housing and creating much needed employment for the construction sector, I'm failing to see how increasing the value of the existing housing stock is of a any significant benefit to the country at large.

A rampant housing market helps boost the the economy whether that's estate agent, removal companies, new sofas, painters and decorators, stamp duty etc etc.

 

There's also lots of places where people want to buy but there are no new builds. Where I live there's none.

 

Everything shouldn't be nitpicked to death. It's just a good idea.

Edited October 7, 2013 by Christmas Tree

[ewerk 26345]

Nitpicked? You mean thought through?

 

You complain that there's no new builds near you but the point I am making was that if the scheme were restricted to new builds then there would be increased demand for these houses which would likely result in increased supply so you would see more new builds near you. The construction industry is much more important to the economy than the businesses of removal companies and DFS.