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Osborne: We want to help higher LTV borrowers "access the impaired mortgage market"
HAMISH_MCTAVISH
Posts: 28,592 Forumite
"The purpose of this (Help To Buy) is to repair an impaired mortgage market that is clearly not functioning properly.
The number of First time buyers is half what it's average has been.
Average deposit has risen from 38% of income to 79% of income" (since 2007), this is a block on aspiration and a block on home owning.
Impaired mortgage finance has been the principal constriction to supply of new building."
http://www.bbc.co.uk/democracylive/house-of-commons-23269599
There may be hope for this government yet.....
:beer:
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »..."The purpose of this (Help To Buy) is to repair an impaired mortgage market that is clearly not functioning properly.
The number of First time buyers is half what it's average has been.
Average deposit has risen from 38% of income to 79% of income" (since 2007), this is a block on aspiration and a block on home owning.
Impaired mortgage finance has been the principal constriction to supply of new building."...
how much of that is actually a quote? the usual greengocer's apostrophe gave away the fact that you weren't copy & pasting from BBC, but roughly [i can't bring myself to listen to the clip] how much spin did you put on that?FACT.0 -
the_flying_pig wrote: »how much of that is actually a quote?
Anything in paragraphs is my clarification.
The rest is verbatim.“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 -
Indeed....I had to search for what you quoted, as it's obviously full of holes...and i got this...
http://www.independent.co.uk/news/uk/politics/george-osborne-we-dont-need-to-raise-taxes-to-beat-deficit-8703699.htmlMr Osborne insisted his Help to Buy scheme providing state subsidies for mortgages, announced in the Budget in March, was fuelling a new housing price bubble.0 -
Graham_Devon wrote: »Indeed....I had to search for what you quoted, as it's obviously full of holes...and i got this...
http://www.independent.co.uk/news/uk/politics/george-osborne-we-dont-need-to-raise-taxes-to-beat-deficit-8703699.html
That's a typo. :cool:
Funny, but mistaken.“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 -
Oh and this is the bit Hamish decided to miss out from his quote, as you can always guarantee theres something removed...
"The purpose of this is to repair an impaired mortgage market that is clearly not functioning properly," he said. "I don't think the situation at the moment looks like an asset price bubble."
He was obviously being tasked on price increases on the back of these schemes. The context is somewhat changed when you include everything that he said instead of stopping mid sentence.0 -
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Graham_Devon wrote: »Indeed....I had to search for what you quoted, as it's obviously full of holes...
Those quotes were verbatim.
Here's another one.
When asked what happens if a bubble pops up....."I don't think that's likely, I don't think in the current environment a house price bubble is going to emerge in 18 months or three years,".“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: »Oh and this is the bit Hamish decided to miss out from his quote, as you can always guarantee theres something removed...
"The purpose of this is to repair an impaired mortgage market that is clearly not functioning properly," he said. "I don't think the situation at the moment looks like an asset price bubble."
He was obviously being tasked on price increases on the back of these schemes. The context is somewhat changed when you include everything that he said instead of stopping mid sentence.
I didn't stop mid sentence.
The journo misquoted and combined parts of two quotes.
Why not listen before making stuff up and throwing mud?“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: »I didn't stop mid sentence.
The journo misquoted and combined parts of two quotes.
Why not listen before making stuff up and throwing mud?
Maybe if you didn't bother putting stuff in quotes, while entering your own "clarification" inside the quotes to make it look as if that was stated, people wouldn't have to go searching for what was actually stated?
No one on this board decides to use the quote feature as you do.
He was defending his decisions, in the face of questioning over the problems this could cause. The problems we are currently starting to witness in the making.
Theres a proper summary here:
http://www.telegraph.co.uk/finance/economics/10174586/Mervyn-King-endorsed-Help-to-Buy-George-Osborne-tells-critics.html0 -
Graham_Devon wrote: »He was defending his decisions, in the face of questioning over the problems this could cause. The problems we are currently starting to witness in the making.
The media of course are ignoring that mortgage lending criteria is now considerably tougher. So the quality of lending is actually far better than just 18 months ago.0
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