Property predictions 2022

[Democorruptcy]

Governbankment's mortgage guarantee stats, managing to shift more liability onto taxpayers.

Quote

 

There were 6,535mortgage completions from scheme launch on 19 April to end September 2021, which represents 3% of all residential mortgage completions in the UK from the beginning of April to end September 2021.2This is a significant increase compared to the period ending in June 2021 where there were 812 mortgage completions. The corresponding value of these guarantees is £179 million while the overall value of loans supported by the scheme is £1.2 billion. These mortgages were used to finance properties worth £1.3 billion in total.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1055537/Official_Statistics_Publication_new_mgs_September_2021.pdf

 

 

[HousePriceMania]

51 minutes ago, Democorruptcy said:

Governbankment's mortgage guarantee stats, managing to shift more liability onto taxpayers.

 

managing to shift more unearned untaxed cash into their own pockets.

 

[Wight Flight]

Has anyone considered the impact homewise can have on property values?

Only got £250k? Don't worry, you can buy a £500k house. You won't own it, but you will be happy...

https://m.facebook.com/groups/IsleofWightOverners/permalink/3174053449490493/?m_entstream_source=feed_mobile&anchor_composer=false

[Plan-b]

3 hours ago, Wight Flight said:

Has anyone considered the impact homewise can have on property values?

Only got £250k? Don't worry, you can buy a £500k house. You won't own it, but you will be happy...

https://m.facebook.com/groups/IsleofWightOverners/permalink/3174053449490493/?m_entstream_source=feed_mobile&anchor_composer=false

Didn't do much for me, went through the quick online estimate (I did lie a bit, but not too much to keep it realish) and got a possible 40k budget boost result. Wow 

[Wight Flight]

41 minutes ago, Plan-b said:

Didn't do much for me, went through the quick online estimate (I did lie a bit, but not too much to keep it realish) and got a possible 40k budget boost result. Wow 

Look on the bright side - it means they think you aren't going to drop dead anytime soon.

[Plan-b]

27 minutes ago, Wight Flight said:

Look on the bright side - it means they think you aren't going to drop dead anytime soon.

Thats a great way to look at it! - Cheers 

[Ash4781b]

I expect what will happen is the Bank of England will keep interest rates low and many will just hoard houses causing very low supply. The economic theory is that as prices rises people will sell but in theory the bank should raise interest rates to control inflation. As prices continue upwards a call will be something must be done and they will bring back more demand side interventions (new help to buy etc). Locally there is fierce opposition to new housing being built but this is common across the country. Yes some is getting built but in all the wrong places causing massive infrastructure problems. 

[spygirl]

On 18/02/2022 at 14:11, Democorruptcy said:

Governbankment's mortgage guarantee stats, managing to shift more liability onto taxpayers.

 

Actually - No.

The 2021 scheme was nothing more than a token 'Something must be done!' as the fuckwittery of HTB ended.

The 2021 95% involved UKGOV 'lending' ~15% but the bank having to take out indemnity insurance so UKGOV does not take a hit.

1000 mortgages months.

 

That scheme runs its course. no twitter as there are no other HTB gormless to take over.

 

 

[spygirl]

11 minutes ago, Ash4781b said:

I expect what will happen is the Bank of England will keep interest rates low and many will just hoard houses causing very low supply. The economic theory is that as prices rises people will sell but in theory the bank should raise interest rates to control inflation. As prices continue upwards a call will be something must be done and they will bring back more demand side interventions (new help to buy etc). Locally there is fierce opposition to new housing being built but this is common across the country. Yes some is getting built but in all the wrong places causing massive infrastructure problems. 

Home ownership is concentrated in the (well) over 50s.

Shrouds dont have mortgage payments ...

Howe ownership is soo distorted in the aged that probate is going to drive a lot of areas.

[Bilbo]

From today's Telegraph.

Free link;

 

https://archive.ph/btIP9

Part of article;

But if this fantastic increase in wealth and consumption possibilities for homeowners and their children does not correspond to the generation of real wealth for society as a whole, where does it come from? The answer is that there is a redistribution from those who do not own property to those who do. Admittedly, this transfer is not immediately obvious. After all, those people who do not own property do not suffer a loss of capital value.

Article by Roger Bootle well worth a five min read.