My Shared Equity Success Story

RenovationMan

princeofpounds wrote: »

No, for various reasons they do not qualify as one of the special-interest groups that have access to these subsidies.

As for you maths, I'm not really concerned about your personal profitability, I am much more concerned about the aggregate economic distortions that subsidies create.

By the way, yes I would have taken advantage of a scheme I felt was beneficial. I don't have any kind of problem with you, only the policy.

I don't understand why you're having a go at the OP just because he qualified for this type of scheme and you don't - that's hardly his fault is it?

You can hardly take the moral highground about the "aggregate economic distortions that subsidies create" and then in the next breath say you'd take advantage of a subsidy scheme as well if you could.

princeofpounds

Didn't say I was taking the moral high ground. I think the economic policy is stupid from a purely economic standpoint, morals don't really come into it, unless we take it to the level of bad economic policy and misuse of tax policy being immoral itself.

Neither is it a go at the OP, it is a go at the political policy he is choosing to celebrate. I haven't actually criticised the OP once.

PasturesNew

So, you had access to a limited scheme.... kept your job and earnt more .... teamed up with another person ....

Right. Everybody can do it then.

note_2

one very bitter person on this thread

Well done. I am happy that my tax money is going to subsidise your personal enrichment and help price members of my own family out of the housing market.

its a loan, do you know what a loan is? a loan you pay back, with interest. oh dear.

By the way, yes I would have taken advantage of a scheme I felt was beneficial. I don't have any kind of problem with you, only the policy.

so despite what you rudely said earlier, you would, in fact, be happy to use such a scheme if you qualified and thereby 'help price members of my own family out of the housing market'.

fail.

princeofpounds

note wrote: »

one very bitter person on this thread



its a loan, do you know what a loan is? a loan you pay back, with interest. oh dear.



so despite what you rudely said earlier, you would, in fact, be happy to use such a scheme if you qualified and thereby 'help price members of my own family out of the housing market'.

fail.

Not that bitter really, just sometimes an antidote is required to cheer leading over government handouts.

I know what a loan is. I also know what an equity risk premium is, an opportunity cost, an economic externality, perverse incentives, state clientelism and various other things which are important and relevant for judging a housing market policy.

As for being rude, it is up to you if you choose to take personal offence to an opinion on a political policy.

RenovationMan

princeofpounds wrote: »

I haven't actually criticised the OP once.

Jeeze, I know the youth of today have a low attention span, but you only posted this 10 posts back on this thread:

princeofpounds wrote: »

Well done. I am happy that my tax money is going to subsidise your personal enrichment and help price members of my own family out of the housing market.

Are you saying that you really are congratulating the OP and that you really are happy for your tax money to go to his personal enrichment or are you going to own up and state that you had a go at the OP, but you've had a chance to think it over and you 're now thinking "Actually, fair play to you, I'd to the same myself if I could"?

RenovationMan

PasturesNew wrote: »

So, you had access to a limited scheme.... kept your job and earnt more .... teamed up with another person ....

Right. Everybody can do it then.

What's stopping them?

princeofpounds

RenovationMan wrote: »

Jeeze, I know the youth of today have a low attention span, but you only posted this 10 posts back on this thread:



Are you saying that you really are congratulating the OP and that you really are happy for your tax money to go to his personal enrichment or are you going to own up and state that you had a go at the OP, but you've had a chance to think it over and you 're now thinking "Actually, fair play to you, I'd to the same myself if I could"?

No, I think that you misunderstand the point. If you think about it for a second, it is not the OP who made tax revenues available to himself. That is entirely the fault of politicians, civil servants and lobbyists. It is 'fair play' for him to make use of opportunities, I don't even need to think that over. What I am hostile against is the simple fact that schemes like homebuy exist at all.

So I was being sarcastic and critical, but you have projected the 'personal' element into it all by yourself. The only way in which it was personal is that the OP introduced the topic of the policy and put themselves up as a cheerleader for it.

If you like an idea, and I dislike an idea, it does not mean I dislike you. That's just sloppy logic. But it also doesn't mean I need to be particularly sensitive to your opinions by sheer virtue of the fact that you assert them.

RenovationMan

princeofpounds wrote: »

No, I think that you misunderstand the point. If you think about it for a second, it is not the OP who made tax revenues available to himself. That is entirely the fault of politicians, civil servants and lobbyists. It is 'fair play' for him to make use of opportunities, I don't even need to think that over. What I am hostile against is the simple fact that schemes like homebuy exist at all.

So I was being sarcastic and critical, but you have projected the 'personal' element into it all by yourself. The only way in which it was personal is that the OP introduced the topic of the policy and put themselves up as a cheerleader for it.

If you like an idea, and I dislike an idea, it does not mean I dislike you. That's just sloppy logic. But it also doesn't mean I need to be particularly sensitive to your opinions by sheer virtue of the fact that you assert them.

On behalf of the OP, I accept your apology. :cool:

Kynthia

thriftychap wrote: »

These schemes get soooooo much negative publicity on this board i thought i would put an alternative story forward. I do however concede that many government schemes are propping up the housing market BUT they can help people!

I purchased my flat in 2009 for 109,500 i had a 60% mortgage (61,000) and a 40% loan (43,900) from places for people. The scheme I used was open market homebuy. I could buy any property I liked new or old and negotiate the price just like a 100% purchase.

3 happy years later (now married and earning more) we have sold the flat for 131,000. I have to pay back 40% (52,000) to places for people and repay the remaining mortgage (<50,000) this leaves me with 28k equity.

The reason why I enjoyed this scheme so much is because of the small mortgage I was able to get a 60% LTV mortgage on a great rate. So, due to the small mortgage I could overpay as I earned more.

This equity along with savings has left me (us) in a great position to buy a house we can start a family in, all thanks to the shared equity scheme!

It's nice to hear that the scheme worked out well for you. We so often hear from those who regret their purchase that you sometimes wonder if there's anyone who was happy they did it.