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Debate House Prices
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There could be a high price for creating a price boom
Comments
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I wish I'd been able to buy my first home with 20% of the mortgage interest free for five years.
It's possible to plan ahead for the end of the five year period you know.
People take on this scheme PURELY because they have no other way of entering into a market they otherwise cannot afford..
If the people taking on this scheme had the funds to actually channel into their plans, why would they take this sort of scheme on in the first place?
It's naive to think people who have to use a scheme because they can't afford to enter the market any other way will suddenly find thery have a plan and funds fall into their lap to put it into action.0 -
Why do you say there will be nowhere to re-mortgage?Graham_Devon wrote: »It's also the time when you will be out of your mortgage fix, with NO WHERE else to re-mortgage. How are you going to re-mortgage such a product?
Is it some part of the deal that you cannot move the loan?
I'm asking because I don't know the details of this promotion.0 -
HAMISH_MCTAVISH wrote: »It's Roger Bootle of Capital Economics.
He has been saying the same thing for a decade now.
Pretty good track record on interest rates, but on house prices, not so much.
Where he is right is that more houses should be built.
At best it's debatable whether the Government has managed to prop up house prices with their policies as such over the past 4 years. The problem with British house prices is simple: not enough houses.0 -
I would suspect the sentiment regarding the pros and cons of house price inflation may well change it's balance as the ratio shifts from owners to renters. could be tricky for whoever is in power (and wanting to remain there) if to 50% level is hit.0
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HAMISH_MCTAVISH wrote: »It's Roger Bootle of Capital Economics.
He has been saying the same thing for a decade now.
Pretty good track record on interest rates, but on house prices, not so much.
That's not a wholly relevant criticism. Some past forecasts have been wrong but forecasts are only ever a bit of fun, or a best guess, anyway, as we all should know. Today's article doesn't attempt any detailed forecasts, it's just a critique. And is spot on IMO.
The pt he makes about the EAs' (and your) old chestnut about needing inflation/borrowing subsidies to maintain supply is a sound one:..., the measure’s defenders say that this will aid new building. But if the aim is to elicit a supply response it is difficult to believe that this could not be done more effectively by intervening directly on the supply side, perhaps by taxing undeveloped land or by further easing planning restrictions.FACT.0 -
Graham_Devon wrote: »People take on this scheme PURELY because they have no other way of entering into the market because they cannot afford to. it's fantasy to pretend everyone can just plan from there and live happily ever after.
It's only in your world where people are struggling to get on this scheme, keep struggling once on it, be shafted at the end of five years and then die. Not everyone lives life from one tank of petrol to the next.
Why is it a fantasy to have a five year plan?0 -
It's only in your world where people are struggling to get on this scheme, keep struggling once on it, be shafted at the end of five years and then die. Not everyone lives life from one tank of petrol to the next.
Why is it a fantasy to have a five year plan?
Blimey. You have an active imagination!
As I said, a plan is fine.
But having the funds is something different. I don't think it's particularly outlandish to suggest many of those using this scheme are less likely to have funds avaliable.0 -
The problem with British house prices is simple: not enough houses.
That's not the first time this has been highlighted.
where's all the canvasing for more properties or policies to support this?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Or too many people for the existing infrastructure.Where he is right is that more houses should be built.
At best it's debatable whether the Government has managed to prop up house prices with their policies as such over the past 4 years. The problem with British house prices is simple: not enough houses.0 -
IveSeenTheLight wrote: »That's not the first time this has been highlighted.
where's all the canvasing for more properties or policies to support this?
To give this Tory Government their due while they're not knocking each other off they're passing some pretty sensible policies to make building houses much easier (in theory).
Unfortunately, British people will fight and argue about any new housing anywhere near them as a rule. It's crazy.0
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