Game over for the bears???

Paul_N_4

Game over for the [strike]bears[/strike] bulls???

Corrected.

dudleyboy

Dan: wrote: »

Following today's news of Stamp Duty cuts, Government deposits and mortgage debt bailouts is it game over for all the bears who were looking forward to a significant house price crash?

Dream on, Dan.

Jonbvn

Using our favourite analogy, the gov't's attempt to fix the housing market is akin to rearranging the deckchairs on the Titanic!

carolt

LisbonLaura wrote: »

The govt's generous measures will have the following effects

1) Make the prudent who took no part in the Ponzi scheme of the last seven years even angrier.
2) Give false hope to many.
3) For the few who grab the interest-free starter loan there will be more pain in five years when they have to start paying it back, & can't sell the house for what they paid, so can't wriggle out of payments they can't afford..
(......& even if they could sell the place, where would they go?)

Re point number 1 - these moves today are for me the final nail in the coffin of the Labour Party, for me (and I suspect many FTB's).

Far from an attempt to 'help' FTB's, as they cynically claim, they are a blatant attempt to use innocent FTB's as cannon fodder to prop up the housing market and save their own skins.

I would now rather vote Tory than Labour (and for me, that really is saying something).

Don't think they can afford to do sufficient meddling to stop the housing market crashing, but am disgusted they are even trying - and wasting my taxes in the process. If the outrageous rise in house prices over the last decade didn't require meddling or handouts to help those affected by the machinations of the free market, nor do the spectacular falls demand taxpayers' assistance now.

Can see no reason why my taxes should be spent on keeping someone in their overpriced home - who 'deserves' to live there only by the fact they chose to gamble on ever-rising house prices and low interest rates - whilst wiser, more prudent individuals and families who chose not to buy more than they could afford remain priced out, whilst paying for the gambler to stay put.

There are plenty of valuable things the government could do with my taxes to improve our economy - for everyone - and ward off recession. Surely they can come up with something better than this????

skap7309

carolt wrote: »

Re point number 1 - these moves today are for me the final nail in the coffin of the Labour Party, for me (and I suspect many FTB's).

Far from an attempt to 'help' FTB's, as they cynically claim, they are a blatant attempt to use innocent FTB's as cannon fodder to prop up the housing market and save their own skins.

I totally agree. I work very hard, save every spare penny i can and am looking to be able to afford a decent home within the next 12-18 months. I do not give a damn about how i can claim this, that and the other (only to have to pay it all back when i will least expect it), save £1750 when if i wait a month i can save 2% continously etc, etc.

Unfortunatley (and worryingly) i believe this will have an effect to uneducated people and have them returning to the market, again raising the prices even if only short term and i am back to square one.
THANKS FOR HELPING US FTBs EH GOVERNMENT?

Trollfever

:grouphug:

I have a fever.

Please help.

Dan:_4

Sir_Humphrey wrote: »

:rotfl: :rotfl: :rotfl:

Don't feed the troll.

Hold on a minute. It is a genuine question...

drbeat

Today, an estate agent tells me that in my area - 2 mile radius - they are now 4 properties that were priced between £180,000 to £190,000 that have now been reduced to £175,000 and below...would I be interested?? No thank you I said!

I just love this govt intervention! What was it the OP said?

Work collegues missus - Mortgage Advisor - says that no building society/bank would entertain someone who wants to borrow 70% from them and 30% from this stupid govt scheme...AS THE 30% or whatever percentage WILL BE REGARDED AS A DEBT, INTEREST FREE OR NOT IT IS STILL A DEBT - NOT A DEPOSIT - AND WILL BE COUNTED AS PART OF YOUR OUTGOINGS!

WAKE UP DAN!

Dan:_4

dopester wrote: »

Sure Dan.

All these measures are hopeless. I can hear the sound of a barrel bottom being scraped.

The Government is making it worse by distorting the market even further. It only makes it worse.

Nothing can stop the crash. Nothing.

I tend to agree. Can't see any of these measures doing anything whatsoever.

Im more pleased to see mortgage rates still falling - RBS have gone down today I believe.

tomstickland

baby_boomer wrote: »

It'll be held up as a classic case for future political students of why governments can often do better when they don't spin in advance.

Which, ironically, was what Gordon promised us in the post-Bliar era :rolleyes:

I read a report last week where it emerged that since Gordon Brown took over the expenditure on PR and consultants has gone up.