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One Million FTB-s prevented from buying
Comments
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Thrugelmir wrote: »If your read the major housebuilders financial annual accounts. They are building the property that people currently wish to buy i.e. larger more expensive units.
See my previous post.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Thrugelmir wrote: »If your read the major housebuilders financial annual accounts. They are building the property that people currently wish to buy i.e. larger more expensive units.
In other words, the non-FTB property. Because they know full well most FTB-s can't get a mortgage.Current transaction levels of house purchase across the board may be the new "norm". As people move less frequently.
And are forced to stay in rented for longer.
Good news for landlords. Bad news for everyone else.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I can see that.
Increase lending to FTBs (a lot) - OK I'll go with that, so long as......
"Cracking down" on landlords comes shortly after.
Mix in a bit of favourable lending (+ some tax sweeteners) for builders who build "affordable" homes, and I think that maybe we might have a plan that we can both take something from (and I don't mean hard cash or brownie points).
I think it's very reasonable.
No issues with that at all.
The key thing is that the lending has to come first, otherwise you don't get the new houses we need being built, and the landlords have a captive market to pass through costs to if you crack down on them.
It ain't rocket science. Surprised so many of the hard-core "bears" can't see the logic.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
If part of the problem is that cash rich landlords are buying up properties and thereby squeezing FTBs. Then a way of rebalancing things would be to bring in some sort of mortgage rationing.0
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If part of the problem is that cash rich landlords are buying up properties and thereby squeezing FTBs. Then a way of rebalancing things would be to bring in some sort of mortgage rationing.
That's what got us in this mess to begin with.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Glad you picked up the irony.HAMISH_MCTAVISH wrote: »That's what got us in this mess to begin with.;)
I meant rationing in the sense that most people would understand it, eg only one mortgage per person or something like that.0 -
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Graham_Devon wrote: »The actual definition of rationing then? Novel. Especially around these parts!
That's not the definition of rationing though.
Anyway, not going to debate this again.
I'm off to baste my ham. And no, that's not a euphemism.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Thrugelmir wrote: »Wrong. If FTB's spent time accumulating deposits of that size. Then the mortgage market would become self funding.
Lenders will be able to advance more if people save more.
This comment will be ignored by Hamish.0 -
the.ciscokid wrote: »This comment will be ignored by Hamish.
Because it's patently false.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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