Rightmove August -1.8% MoM +5.5% YoY

Loughton_Monkey

For non-Classical scholars....

• ad hominem: (Latin for "to the man" or "to the person"), short for argumentum ad hominem, is an argument made personally against an opponent instead of against their argument.
• ad homien: A commercial for Bovis Homes.

Percy1983

HAMISH_MCTAVISH wrote: »

"ad hominem" Graham....

You should probably learn to spell it first, and then I'd recommend learning the correct usage.....

The pointing out of the the incorrect spelling, the last defence when you can't find fault with the statement itself...

N1AK

wotsthat wrote: »

I don't really see why the scheme can't be removed just because other people are on it. Like any other incentive scheme really - they start, they run, they stop.

For the same reason that you can't remove winter fuel payments or child tax credits (for everyone). It would be unpopular politically. I'm not persuaded this will become impossible to remove however if, for example, 20% of house buying used this scheme and we saw house prices increase by 50% over the next 5 years (an extreme obviously) then removing it would become difficult:
1/ When it is proposed it would be unpopular because it would be stopping first time buyers getting on the ladder
2/ When it happened and the market, which it had artificially inflated, drops by ~10-15% the government will be blamed for dropping tens,or hundreds, of thousands of people in negative equity.

The housing market seems to be recovering nicely as is. Many people, myself included, are of the opinion that it is growing too quickly already. There is no need to extend this scheme and doing so only encourages people to borrow larger amounts of money.

N1AK

HAMISH_MCTAVISH wrote: »

"ad hominem" Graham....

"hypocrisy" Hamish

wotsthat

N1AK wrote: »

For the same reason that you can't remove winter fuel payments or child tax credits (for everyone). It would be unpopular politically. I'm not persuaded this will become impossible to remove however if, for example, 20% of house buying used this scheme and we saw house prices increase by 50% over the next 5 years (an extreme obviously) then removing it would become difficult:
1/ When it is proposed it would be unpopular because it would be stopping first time buyers getting on the ladder
2/ When it happened and the market, which it had artificially inflated, drops by ~10-15% the government will be blamed for dropping tens,or hundreds, of thousands of people in negative equity.

The housing market seems to be recovering nicely as is. Many people, myself included, are of the opinion that it is growing too quickly already. There is no need to extend this scheme and doing so only encourages people to borrow larger amounts of money.

Yes, the risks are mainly political rather than financial.

If the economy continues it's improvement we'd end up with people taking the equity loan and banking it. Same with BOMAD - why help to provide more than 5% of help? These perverse situations won't be allowed to develop.

The market will kill it off too. Builders are persuading buyers that they are in a poor negotiating position and paying close to asking price. When better deals can be had with independent finance there will be less demand for an expensive subsidy.

I doubt it'll be around for much longer personally. We'll know more after the election.