Help to Buy may have to be scrapped, Vince Cable warns

Graham_Devon

Rejoice!

Disclaimer: The title is that of the article, not mine.

The Liberal Democrat Business Secretary urged George Osborne, the Tory Chancellor, to consider "whether it [the scheme] should come into effect" amid concerns about rising house prices.

While Mr Cable has previously raised concerns about the scheme, his intervention represents the first time he has suggested it should not come into force at all.

Mr Cable told Sky News: "We should certainly think about how it should come into effect, indeed whether it should come into effect in the light of changing market conditions. We don't want a new housing bubble."

In fairness, it shouldn't now be needed considering the market.

http://www.telegraph.co.uk/property/buyingsellingandmoving/10301546/Help-to-Buy-may-have-to-be-scrapped-Vince-Cable-warns.html

Conrad

For 3 years I wanted Mervyn King booted out as he is a dampener of spirits, a spreader of gloom. Vince Cable is next on my list of whiners I'd like to see gone from the public sphere.

The economy can really motor now and I am sure this expansion is far more robust than these neg-heads like to convey. Whining negative sentiment simply serves to dampen the spirit of the economy.

And no he's not a realist, he's a pessimist, period.

Graham_Devon

Conrad wrote: »

For 3 years I wanted Mervyn King booted out as he is a dampener of spirits, a spreader of gloom. Vince Cable is next on my list of whiners I'd like to see gone from the public sphere.

The economy can really motor now and I am sure this expansion is far more robust than these neg-heads like to convey. Whining negative sentiment simply serves to dampen the spirit of the economy.

And no he's not a realist, he's a pessimist, period.

If the economy can motor, surely it can do it without massive stimulus?

It would be difficult to suggest the economy is all good and then state stimulus should keep being added.

This is being talked about on five live right now.

IronWolf

Vince is often a lone voice of reason. I guess that's what you get when you have some actual experience and not just a PPE degree.

Graham_Devon

None of the MPs on 5live can agree that the second instalment should go ahead, and two are questioning whether the first should have gone ahead. (Not party political, as they have a tory MP on too).

dryhat

Our current economic system is broken and irrepairable.

All we have is corruption, theft and manipulation of markets.
Massaging of headline figures to cover up the truth can only last so long.

After 6 years, we could have been well on the way to recovery now but instead we have to endure more of the same and look forward to an even bigger fallout.

MFW_ASAP

Graham_Devon wrote: »

Rejoice!

Rejoice indeed if it ends and we don't have you creating 2 or 3 Help to Buy threads every day.

I guess you'll climb back onto your Raise Interest Rates soapbox then. I also can't wait for rates to be raised, just so we won't have you creating your 2 or 3 Raise Interest Rates threads every day.

I guess rates will only be raised once we are well on the way to recovery, which means 95% and 100% mortgages will appear. You'll then climb onto that particular soapbox.

And so it will go on. and on.

RUN_RABBIT_RUN

the sooner they scrap this scheme the better

the government giving an interest-free loan of £120,000 for 5 years on a £600,000 new build property is lunacy.

wotsthat

Graham_Devon wrote: »

Rejoice!

Graham_Devon wrote: »

This sort of thing is dissapointing from Vince Cable though who, as it turns out, has gone from a really sensible figure head in opposition to just another MP going through the side effects of debt splurge starvation.

Graham_Devon wrote: »

Can't take him seriously anymore anyway. A shame, used to state the obvious and actually have some credit behind him.

So 'just another MP going through the side effects of debt splurge starvation' who you 'can't take seriously anymore' says something you want to hear and you're rejoicing?

It's about time a Help to Buy sticky was started to prevent this clutter. It could replace the house price crash thread.

Loughton_Monkey

RUN_RABBIT_RUN wrote: »

the sooner they scrap this scheme the better

the government giving an interest-free loan of £120,000 for 5 years on a £600,000 new build property is lunacy.

I see it not as an interest free loan, but as the taxpayer (not the government) investing in property by taking 20% equity stakes in thousands of properties. It will probably make us quite a bit of profit.

Rather perversely, scrapping the scheme might cause a devaluation of this investment, costing more.

Graham_Devon

wotsthat wrote: »

So 'just another MP going through the side effects of debt splurge starvation' who you 'can't take seriously anymore' says something you want to hear and you're rejoicing?

Of course. I don't care who says it. Just so long as people are stating it.

I tell you what guys, if you are so offended by my posts on help to buy, which is the biggest stimulus in the housing market we've probably ever seen.....and this is a housing and economy board....

Put me on ignore. Would benefit us both ways. All this jostling for position on every thread does nothing but drag threads down the same route time after time. While you are apparently bored of speaking about things completely on topic to the board, I'm bored of this tired nonsense.

If you somehow imagine that polices on housing won't be discussed on a housing board, I think you'll find yourself rather mistaken, as that's the very point of the board.

So, pop me on ignore. Win win for everyone. It's telling how run rabbit run says it should be scrapped and you thank it. I suggest it should be scrapped and you lay in once more.