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Banned

Help to Buy to End (or altered)

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Seems the bubble blowing wankers at the Tory party have seen the bubble blown up just enough

Cunts hope the fucken burn, everyone said at the time it'd send prices through the roof, another reason to vote anyone but Tory for these fuckers not ending it on day 1 of entering office.

Wonder what the amended version will be .... as if they do it for workers earnign 60k up to 250k per house all itll do is set the floor for 2 bed flats to cost 250k in the south. These socialist fuckers really need to stop helping

https://www.telegraph.co.uk/politics/2018/09/01/helptobuyscheme-facing-axe-amid-concerns-pushing-house-prices/

The government's Help to Buy scheme is facing the axe amid concerns it is helping wealthier households and pushing up house prices.

The Telegraph understands that ministers are planning a “fundamental review” of the policy that could see it replaced with a scheme that is "more targeted on those it is meant to be helping."

New research published last week showed that one in five households on Help to Buy have used it to upgrade their homes rather than to get onto the housing ladder. The disclosure comes as the government faces pressure from developers and mortgage lenders to set out plans to finance the policy beyond 2021, when the current tranche of funding ends. However, ministers are believed...

Edited by Banned

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Things would be a gazillion times easier if they kept track of house price inflation and used fiscal and monetary policy to keep it about equal to wage inflation.

[and they started 30 years ago]

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28 minutes ago, dgul said:

Things would be a gazillion times easier if they kept track of house price inflation and used fiscal and monetary policy to keep it about equal to wage inflation.

[and they started 30 years ago]

Id say 40 years when Thatcher first came into power to blow a debt bubble.

That image comes with a good article and a very good website
https://consciousnessofsheep.co.uk/2017/11/28/thatchers-legacy/

https://consciousnessofsheep.co.uk/2018/08/24/economic-fake-news/

Image result for thatcher debt bubble

Edited by Banned

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When HTB came in I saw typical asking prices of terraced houses in my city go from £125k to £140k+. 'Help' to Buy my arse.

TPTB may have now realised that the property market appears to be running out of steam with the props and interest rates have crept up. And hopefully they will continue to go up.

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8 minutes ago, UmBongo said:

When HTB came in I saw typical asking prices of terraced houses in my city go from £125k to £140k+. 'Help' to Buy my arse.

TPTB may have now realised that the property market appears to be running out of steam with the props and interest rates have crept up. And hopefully they will continue to go up.

Tory party scum  know that if prices dont fall Corbyn will walk the next election and the Tories will be out of power or a long time.

Hence why the MSM are trying to tell everyone Corbyn is the new Hitler, they are petrified on him, hence why i will vote for him.

Edited by Banned

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8 hours ago, dgul said:

Things would be a gazillion times easier if they kept track of house price inflation and used fiscal and monetary policy to keep it about equal to wage inflation.

[and they started 30 years ago]

I'll never know they got away with removing house prices from inflation figures. Biggist purchase and the most people spend their money on... Of course it has an impact on the economy and people's purchasing power. 

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4 hours ago, georgist said:

Bet the new thing ramps prices harder. They'll try to buy votes.

The number of "have-nots" is increasing as a proportion of "have", eventually they need to buy votes from people who can't afford a house at current prices. People won't vote tory if they feel the system is against them and continues to neglect their work. 

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1 hour ago, UnconventionalWisdom said:

I'll never know they got away with removing house prices from inflation figures. Biggist purchase and the most people spend their money on... Of course it has an impact on the economy and people's purchasing power. 

Arguably they are/were right to not include housing in normal inflation figures.  They're different things.  The problem is people don't pay house prices*-- they pay mortgage rates.  

BUT -- the larger impact of monetary policy is on asset prices** (arguably greater than living costs), so IMO the main target of rate-setting should be house price stability rather than RPI.  The problem is the central banks saying 'we can't get involved in asset prices', when that's exactly what they were mainly involved in...

[* obviously I know they do, but they only feel the impact in their mortgage payments.  If you've got £1000 pm to spend you'll spend £1000 pm; the house price depends on what capital payment the interest rates would give you with that £1000 pm.]

[** asset prices mainly move as the reciprocal of interest rates, albeit with different effects if they're trending lower or trending higher]

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7 hours ago, georgist said:

Bet the new thing ramps prices harder. They'll try to buy votes.

They know that game is up the only way they get votes is price falls. They will just try to male sure its slowwd ans controlled. Imho.

Edited by Banned

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1 hour ago, dgul said:

BUT -- the larger impact of monetary policy is on asset prices** (arguably greater than living costs), so IMO the main target of rate-setting should be house price stability rather than RPI.  The problem is the central banks saying 'we can't get involved in asset prices', when that's exactly what they were mainly involved in

They need to some how determine a way to have both spending on houses and spending in the real economy in the reported figure. I could understand house prices not being in the figures but there should be some measure or we'll continue with this situation where we pay more on housing, less in the real economy. The slowdown in the inflation figures leads to more QE and lowering of rates and hence the vicious circle continues. 

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Unable to read the Telegraph story as it's a "premium" article. The DM are covering the story too. I love how they're spinning this crap. It blatently helped the people it was designed to benefit. It was never meant to help the public. But now they turnaround a point the finger that it was used by second time buyers? Why didn't they put a restriction in there from the outset....oh yeah it was never meant benefit FTB'ers' xD

What monstrosity will come in the wake of this and which businesses will benefit? Time to load up on their shares.

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Anyway it seems in the Times are being briefed by land/building company owner Hammond who will be extending it.

The Tory Party really need rid of that cunt, preferably a bullet in his head.https://www.thetimes.co.uk/article/housebuilders-bet-on-extension-of-controversial-help-to-buy-scheme-hcpm9ksbl

 
Leading housebuilders think the government will bow to pressure to extend the controversial Help to Buy scheme, which has boosted sales of new homes.

The government handout — introduced in 2013 — gives buyers a loan for 20% of the cost of a newly built house or flat in England. It is interest-free for five years and covers homes worth up to £600,000. Rules vary in London, Wales and Scotland.

The programme has been a boon for housebuilders, boosting sales, profits, share prices and directors’ pay. It is due to end in March 2021 — and Britain’s big housebuilders have been lobbying for an extension.

Insiders say they think the pressure has paid off and the chancellor Philip Hammond will announce the extension in his autumn budget.

In the past year, Help to Buy has accounted for more than 40% of sales of new-build homes to private buyers.

Analyst Alastair Stewart of broker Stockdale said: “Help to Buy has been a huge help for builders. It will almost certainly be extended in the budget — but maybe with some cosmetic tweaks.”

However, the scheme has been criticised. It is reckoned that about a fifth of people using it are not first-time buyers but those moving to a bigger property. There is also no limit on the income of people who can take advantage of the scheme.

Labour has called for the subsidised loans to be targeted at first-time buyers on “ordinary” incomes.

An insider at a leading housebuilding group said: “The government might reduce the 20% figure or the ceiling on the price of the house being bought. But we don’t think we will face a cliff-edge in 2021.”

Housebuilders’ share prices have soared in the past five years. Barratt’s are up by 79% and shares in Persimmon — where a promised £100m-plus bonus for chief executive Jeff Fairburn provoked outrage earlier this year — have risen by 138%.

Redrow, Bovis and Barratt will unveil results this week. All are expected to report healthy profit increases but analysts are looking for any sign that prices or margins are starting to be squeezed as housebuilders try to absorb increased costs.

Nationwide said on Friday that in August average house prices had their sharpest monthly fall for six years.

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On 01/09/2018 at 23:24, Banned said:

Tory party scum  know that if prices dont fall Corbyn will walk the next election and the Tories will be out of power or a long time.

Hence why the MSM are trying to tell everyone Corbyn is the new Hitler, they are petrified on him, hence why i will vote for him.

House prices will the least of your problems if that Jew hating commie cunt gets in to 10 Downing street. 

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18 minutes ago, Mr Miyagi said:

House prices will the least of your problems if that Jew hating commie cunt gets in to 10 Downing street. 

Never a truer word said in jest.

last one out etc.

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On 01/09/2018 at 23:24, Banned said:

Tory party scum  know that if prices dont fall Corbyn will walk the next election and the Tories will be out of power or a long time.

Hence why the MSM are trying to tell everyone Corbyn is the new Hitler, they are petrified on him, hence why i will vote for him.

Me too.. If every bent politician, rich banker and billionaire owned newspaper is going after Corbyn then he is the man for the job in my book! 

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On 02/09/2018 at 04:40, Banned said:

They know that game is up the only way they get votes is price falls. They will just try to male sure its slowwd ans controlled. Imho.

revoking HTB sure as hell isn't the way to do that!

I want prices to fall (via land value tax). The Tories are zealots. Their reason for existing is to transfer surplus value from the working class to the establishment via land prices. It's not just about being in power. If they were in power in a socialist paradigm they'd consider that a *disaster*.

They are going to try and fulfil their remit. It will fail, but they will continue to try.

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19 minutes ago, georgist said:

revoking HTB sure as hell isn't the way to do that!

I want prices to fall (via land value tax). The Tories are zealots. Their reason for existing is to transfer surplus value from the working class to the establishment via land prices. It's not just about being in power. If they were in power in a socialist paradigm they'd consider that a *disaster*.

They are going to try and fulfil their remit. It will fail, but they will continue to try.

The tories won't be revoking HTB. It will get rejigged to do even more damage. I wouldn't even be surprised if they end up buying the damn shitboxes at full market price or more and renting them out. At the end of the day it won't matter who is in "power", they're all cut from the same cloth.

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6 minutes ago, Admiral Pepe said:

The tories won't be revoking HTB. It will get rejigged to do even more damage. I wouldn't even be surprised if they end up buying the damn shitboxes at full market price or more and renting them out. At the end of the day it won't matter who is in "power", they're all cut from the same cloth.

Never a truer word and applies to all policies. 

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10 hours ago, Banned said:

So after 4 decades of fucking over a once balanced and skilled economy. To be replaced by the biggest debt bubble in history that needs hundreds of billions of pounds printed to keep it afloat. A rigged corrupt economy where 12 times average salary cant buy a 3 bed semi. You claim the biggest problem is Corbyn who is looking to change it. FFS even the Scandanavians say he is moderate and to the right of them. The msm have brainwashed you. 

I agree but Corbyn does not have the answers to which you seek.

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19 minutes ago, Mr Miyagi said:

I agree but Corbyn does not have the answers to which you seek.

After over 8 years of failure its a case of anyone but tory. Anyone looking to buy a house with wages would have to be rather ignorant to vote tory.

We live in a 2 party state hence the lack of options.

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Just now, Banned said:

After over 8 years of failure its a case of anyone but tory. Anyone looking to buy a house with wages would have to be rather ignorant to vote tory.

We live in a 2 party state hence the lack of options.

We need to get monetary policy and immigration under control and none of the major parties have any answers to this - you would probably better better off voting for UKIP they would at least get the latter under control. 

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1 hour ago, Mr Miyagi said:

We need to get monetary policy and immigration under control and none of the major parties have any answers to this - you would probably better better off voting for UKIP they would at least get the latter under control. 

But they are not one of the 2 options

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Redrow demands HTB  continues -

He said: “It's created hundreds of thousands of jobs, it’s put roofs over peoples’ heads, I can’t understand why anybody would knock it.”

ttps://www.telegraph.co.uk/business/2018/09/04/housebuilder-redrow-demands-certainty-help-buy-amid-talk-scheme/

Its going to put many Tory MPs out of a job due to helping re inflate Labours bubble, but apart from that and the fact its priced out millions more its triffic.

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