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Barratt join in with the leap in sales and profits
Comments
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Graham_Devon wrote: »More proof that help to buy is simply lining the pockets of companies.
After yesterday I would have thought you'd be more careful about such sweeping statements. Help to buy is probably helping builder margins but the main reason they expect more profit is because they expect to build more houses.
Isn't this good news? The even better news will be if the people moving in get on with life (like most normals) and pay the mortgage - that'll mean we've got new houses at minimal taxpayer expense.
Remember the buyers strike where buyers wouldn't buy because they 'simply' didn't want to borrow because prices were 'simply' too high? Well it turns out that given access to a 95% loan (oh the horror) they're willing to borrow and buy.0 -
After yesterday I would have thought you'd be more careful about such sweeping statements. Help to buy is probably helping builder margins but the main reason they expect more profit is because they expect to build more houses.
Isn't this good news? The even better news will be if the people moving in get on with life (like most normals) and pay the mortgage - that'll mean we've got new houses at minimal taxpayer expense.
Remember the buyers strike where buyers wouldn't buy because they 'simply' didn't want to borrow because prices were 'simply' too high? Well it turns out that given access to a 95% loan (oh the horror) they're willing to borrow and buy.
I don't know what I am supposed to have done now, but the opening line clearly states they expect profit to increase as a result of help to buy.
I was careful, and the opening line could not be any clearer.Housebuilder Barratt Developments says its full year profits will be stronger than expected, with the government's Help to Buy scheme boosting sales.The firm is the latest in the industry to report a boost from Help to Buy.
Yet I'm wrong for stating that profit is boosted by help to buy. Rigggght. Another day, another semantics argument?
I won't be playing
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Remember the buyers strike where buyers wouldn't buy because they 'simply' didn't want to borrow because prices were 'simply' too high? Well it turns out that given access to a 95% loan (oh the horror) they're willing to borrow and buy.
LOL
That ranks up there with the other bear myth of late....
That builders were refusing to sell houses despite plenty of mortgages being available, as they wanted to land bank and artificially drive up prices.:rotfl:“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 -
Graham_Devon wrote: »they expect profit to increase as a result of help to buy.
Because they can sell more houses.
More houses = more profit.its sales rate was up 17.9% in the second half of its financial year, and up 34.7% since the launch of Help to Buy
Do you need it to be any clearer than that?“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 -
HAMISH_MCTAVISH wrote: »Because they can sell more houses.
More houses = more profit.
Do you need it to be any clearer than that?
Well did I say anything differently?!
You've automatically assumed I don't get it.
The point it seems you are trying to make is that I can't say that help to buy has helped boost their profit, as it's actually selling more houses thats boosted their profits.
Only a fool would try and put across this ridiculous assertion that you can't therefore claim help to buy is increasing their profits. Help top buy is fueling the sales in the first place. You are down to pure pedantism in order to "have a go" with your band of merry men.
What happend to your assertion that this would fuel building rather than fuel increasing profits?0 -
People assume you didn't get it because of the tone of your OP.More proof that help to buy is simply lining the pockets of companies.
If you make stupid comments people will assume you're stupid. Welcome to the internet.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Graham_Devon wrote: »probably because you and others insisted this would fuel building, not profits.
And it is fuelling building.
It's enabling a lot of young people to buy houses that otherwise wouldn't have thanks to mortgage rationing.
It's getting more houses built to help address the shortage.
And obviously, it's allowing house builders to make more profits as a result of building more houses. (rather than building the same number but jacking up prices, which is what you wrongly said would happen).
Jolly good news all around.“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 -
Yet I'm wrong for stating that profit is boosted by help to buy.
Of course profits will be boosted, because it is enabling more people to buy.Rigggght. Another day, another semantics argument?
Completely misunderstanding and then misrepresenting data to try and make a point isn't "semantics"I am an IFA. Any comments made on this forum are provided for information only and should not be construed as advice. Should you need advice on a specific area then please consult a local IFA.0 -
This is rather cute. Look at you all falling over each other to find issu where it doesn't even exist.
Barratt are clear that help to buy is leading to higher profits. Simple as that, no matter how many of you try to claim differently through sheer pedantism.
not so long back you were all falling over yourselves claiming I was wrong to state this would lead to higher profits. Is that the issue? That is HAS led to what many of us said it would? Yet even "financial advisors" couldn't see it?0 -
Graham_Devon wrote: »pedantism
If I was going to be pedantic I'd point out that the word you're looking for is 'pedantry'.
But I'm not a Pedant.;)“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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