75 Grand Discount....Right to buy is back...........

Sibley

Ladies and gentleman. This is it. The end of any house price crash ideas.

Councils will give out the mortgages as well. Anyone will be able to get them. Read it and weep HPC gang. Grant Snapps has kicked you striaght in the goolies.


£75k discount if you buy your council house

Right to buy scheme returns

Right on time ... Housing Minister, Grant Shapps, pushing changes


Exclusive



COUNCIL tenants will be able to buy their homes and get up to £75,000 off the market price, ministers will reveal this week.




The current discount will be trebled across the UK and quadrupled in London. It means the price of homes will be slashed by as much as half after five years' tenancy.


Housing Minister Grant Shapps will announce the new deal as part of an effort to revive the Right To Buy scheme launched by Margaret Thatcher in the 80s.
Its aim is to reverse years of declining discounts under Labour. Mr Shapps will say: "Labour never really could stomach people aspiring to own their own homes and so they took delight in vindictively slashing the right to buy discounts until they were virtually meaningless."
Under the shake-up, tenants with five years residency will qualify for a 35 per cent discount. They get an extra one per cent for every added year — up to a maximum discount of £75,000. Those in flats will get 50 per cent off after five years, with two per cent added yearly.
There were fewer than 3,700 council house sales compared to a peak of 84,000 a decade ago.
Only 66 per cent of homes are now owned by those who live in them — compared to a peak of 71 per cent nine years ago.
The cash raised from sales will be spent building new council houses

Sibley

Footnote.

I've just been reading the readers comments.
Most people are loving it. They want and agree with the scheme.

Grant Snapps has played a blinder here.
We love house price inflation.

As I have said many times. We did not allow prices to drop.
We will also not allow mortgage rates to rse until we are ready.

Ready being when our mortgages are paid off. :rotfl:

Graham_Devon

Madness if you ask me.

Sibley

Madness if you ask me.

Come on Graham.

Let's put our cards on the table here.
This news is in probably the biggest selling Sunday newspaper in the UK.

Thousands will see it. It's not the same as a poxy 1% rise or drop in some silly index. The people commenting are not HPC or MSE members. This is Joe Public and they want it to happen.

The masses have been reached with this story. This is the governments housing minister.

It has done more harm to anyone wanting prices to crash than anything I have seen in the last 3 years.

It's decisive.

Britons want to own houses. It's as simple as that.

Graham_Devon

Which newspaper did you get this from? Seems the be the sun, and the comments do not really back up what you claimed the comments suggested.

Secondly it's madness on a political level. This won't go down well, I absolutely promise you.

olly300

Graham_Devon wrote: »

Secondly it's madness on a political level. This won't go down well, I absolutely promise you.

Have to agree with you there.

The government housing policy is a complete mess.

First they are trying to stop new social housing tenants having a right to live in the housing for life.

Next they want to sell council housing which is social housing off.

ruggedtoast

Grant Shapps has taken another giant steaming dump on the (rented) doorsteps of struggling hard working families.

Yet again the f e c k l e s s , the indolent and the workshy get a leg up over those who choose to provide for themselves, rather than relying on the state.

shortchanged_2

Sibley wrote: »

The cash raised from sales will be spent building new council houses

Am I missing something here but doesn't this just increase supply to the market therefore push prices downwards.

That's as long as they do build the houses to replace the ones they sell off.

Sibley

Grant Shapps has taken another giant steaming dump on the (rented) doorsteps of struggling hard working families.

Yet again the f e c k l e s s , the indolent and the workshy get a leg up over those who choose to provide for themselves, rather than relying on the state.

Actually I agree with you.

This is my point. When HPC were talking about prices dropping 50% and such. I knew the government would never allow it to happen.

Do you believe me now?

shortchanged_2

Sibley wrote: »

Actually I agree with you.

This is my point. When HPC were talking about prices dropping 50% and such. I knew the government would never allow it to happen.

Do you believe me now?

How about addressing my point Sibley?

What do you think about that?

Sibley

Am I missing something here but doesn't this just increase supply to the market therefore push prices downwards.

That's as long as they do build the houses to replace the ones they sell off.

Wont make any difference to supply.

What it will do is keep the message going out. ' It's good to own and bad to rent'

You must admit. When you tell anyone your renting its embarrassing.

I've been there. You feel like a 2nd class citizen. Horrible but true.