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George Osborne expected to use Budget to offer raft of help to boost housing market
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grizzly1911 wrote: »More a waste of time and effort a token gesture.
Yes, we know what'll happen. Big talk about how the Housing markets going to be 'reinvigorated' by some great scheme dreamed up by a load of Civil servants.It'll probably cost millions, help a handful of people, and then be scrapped!:mad:0 -
mystic_trev wrote: »It'll probably cost millions, help a handful of people, and then be scrapped!
Yep.
Be so much easier and more effective to just reverse the capital withholding requirements for high LTV mortgages and then pump unlimited QE into RMBS as the Americans have done to great success.
Government should fix the broken and dysfunctional credit market, then get the hell out of the way, instead of creating more token gesture schemes for political purposes.“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 -
But on a positive note...This news has gone down like a cup of cold sick over on HPC....
.... so there's obviously merit to at least part of the proposals.
“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 -
Of course the real reason these "second-steppers" need help in the first place is because they paid too much for their first house and without HPI they are unable to move.
Same old story : No HPI = No borrowing = No money
And to cap it all BOMAD has wasted their money as well.
Hence this current suggestion.0 -
"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
HAMISH_MCTAVISH wrote: »Yep.
Be so much easier and more effective to just reverse the capital withholding requirements for high LTV mortgages and then pump unlimited QE into RMBS as the Americans have done to great success.
Government should fix the broken and dysfunctional credit market, then get the hell out of the way, instead of creating more token gesture schemes for political purposes.
Borrowed from another poster. Shows the success the US is having.
http://www.usdebtclock.org/"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
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nothing to do with economy or recession or anything. just generally, stamp duty should be removed. it is utterly ridiculous to charge people thousands of pounds for buying somewhere to live. fine, keep it for second properties but not for actual homes where people live as main residence.
the best thing would be a "profit" tax. tax the seller on the profit he has made since buying the house. whilst i still don't agree with it, it at least makes a marginal amount of sense. stamp duty is just robbery.0 -
The_White_Horse wrote: »nothing to do with economy or recession or anything. just generally, stamp duty should be removed. it is utterly ridiculous to charge people thousands of pounds for buying somewhere to live. fine, keep it for second properties but not for actual homes where people live as main residence.
the best thing would be a "profit" tax. tax the seller on the profit he has made since buying the house. whilst i still don't agree with it, it at least makes a marginal amount of sense. stamp duty is just robbery.
Or a good idea would be stamp duty only on properties bought as an investment, BTL's.
Now that would be good news for FTB's.0
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