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Debate House Prices
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Budget 2013 live....
Comments
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So what do you mean by sub prime?the_flying_pig wrote: »i can't say i'm too tempted by that particular semantics debate.
my substantive question was that i'd been looking for someone credible who thinks that this is a good idea.0 -
Real sub prime would be people with an impaired credit history, and/or poor income/employment history, getting loans.
There is no evidence this scheme will include those people.“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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the_flying_pig wrote: »a category of customer who banks:
1 - lend to because of the availability of various forms of government/taxpayer subsidy; but
2 - would not lend to if they were pursuing a pure, 'free market' profit motive only, with no subsidy available.
That's a, how can I say this politely, unique definition....
The rest of the population, and certainly those with a modicum of knowledge regarding financial services, would use one a bit more like this....
Subprime refers to the credit quality of a category of borrowers, who have previously impaired credit histories and consequently a greater risk of loan default, than prime borrowers.“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 -
That game has been over for several years....
But
this will engineer the start of the next boom in prices in time for the next
election, by enabling many more people to buy. Which will then enable many more
houses to be built. And create a virtuous cycle of positive economic
growth.
Game on.
Just a question from someone who cannot see it.
WHY is it so that house prices must be kept high? What real benefits are there of having an overinflated housing market?0 -
JencParker wrote: »Just a question from someone who cannot see it.
WHY is it so that house prices must be kept high? What real benefits are there of having an overinflated housing market?
Mainly it's not a good thing. It's only good for people who invested in the housing market and those who bought at the peak end of the market who are now in negative equity.0 -
Just watching the budget debate on telly - I'm on a 25 minute delay as I paused it when I was making lunch - can anyone who is watching it live tell me -has Osborne thrown up yet?
He looks as if, (as my schoolmates would have said decades ago), he is about to "honk his load".
WR0 -
You can buy a second home with this newbuy incentive!0
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Graham_Devon wrote: »You can buy a second home with this newbuy incentive!
they have not ruled out for BTL's and holiday home too..Ex HPC fool0 -
Graham_Devon wrote: »You can buy a second home with this newbuy incentive!
The detail hasn't been thought of yet. Policy on the hoof (again, pasties and caravans?)according to a commentator on 5L.
Clearly, to be successful the voluntary scheme will need to be robust, not overly complex, result in the delivery of products that are attractive to borrowers, and be commercially viable for lenders. To achieve this, the scheme will need to ensure that all lenders will be able to gain capital relief in recognition of the risk mitigation offered by the Government guarantee. Without capital relief, and depending on the size of the fee, the cost of the commercial fee that lenders will have to pay to gain the benefit of the scheme could make the scheme uneconomical.
CML response
http://www.cml.org.uk/cml/media/press/3466"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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