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

MFW_ASAP

Graham_Devon wrote: »

And that could be considered yet more forumonics.

First it was complaints about starting new threads. Then it was complaints about where the article came from. Now it's complaints the it's all contained within one single thread.

You just let me know what I'm allowed to post, and when, eh?

To provide a little balance, I'm glad that it's on one thread. Kudos to you for listening.

p.s. to be honest, I'm not sure why the others are commenting. If they left you to it, this thread would just die of natural causes because so few would be interested in it.

wotsthat

MFW_ASAP wrote: »

p.s. to be honest, I'm not sure why the others are commenting. If they left you to it, this thread would just die of natural causes because so few would be interested in it.

I'm genuinely interested in Graham's personal approach to Help To Buy.

He's clearly someone that wants to buy a house and has already acknowledged that house prices are likely to rise and therefore won't be coming to meet his budget anytime soon.

Some people said at the time that prices were already going up and that the early adopters of Help To Buy would do quite well. A 20% interest free loan and an environment of HPI both keeps down mortgage costs and protects against negative equity. Graham's been fixated by Help To Buy since George Osborne sat down at the budget - I thought the scheme might suit him.

He can't have dismissed Help To Buy on principle can he? Who wouldn't, in the same position, have been around a few building sites and got some quotes and costings together.

I know he thinks I'm taking the p**s but some 'inside' experience would be valuable.

It's not wall to wall anti HTB in the media either. Spotted this on the FT (behind a paywall) but effectively a call for HTB to be made permanent as the economy is at a stage in the recovery where, with more stimulus, could react quickly on the supply side.

The argument was being made by.....

Huw van Steenis leads Financial Services Equity Research at Morgan Stanley. Charles Goodhart, a former member of the BoE Monetary Policy Committee, is a senior economic consultant to Morgan Stanley.

Not sure I agree that it should be permanent but must be music to the ears of George Osborne.

http://www.ft.com/cms/s/0/2ce0021a-171c-11e3-9ec2-00144feabdc0.html#axzz2fdZAwFCv

MFW_ASAP

wotsthat wrote: »

I'm genuinely interested in Graham's personal approach to Help To Buy.

He's clearly someone that wants to buy a house and has already acknowledged that house prices are likely to rise and therefore won't be coming to meet his budget anytime soon.

I've always advocated working with the existing market and adapting your plans, rather than waiting until a market meets your own requirements. I said it again, perhaps on this thread, and asked Devon why he doesn't try to make the most of these government initiatives as they are designed to help people like himself. I didn't ask for BoE rates at 0.5%, I certainly didn't want the financial meltdown that forced rates to go to 0.5%, but I'm damned certain that I'm making the most of this 'once in a lifetime' opportunity.

I just don't understand the mentality of sticking rigidly to a plan that clearly isn't working.

Turnbull2000

I agree, Graham needs to cut his ever increasing losses and perhaps make use of Help to Buy. Early adopters will fair best. Otherwise, the market will just move further and further away from him, then one day it’ll dawn that he’s too old for a mortgage and consigned to life as a private renter. A rather bleak prospect.

dryhat

Turnbull2000 wrote: »

........ consigned to life as a private renter. A rather bleak prospect.

How's your sister's spare bedroom?

Dribley

Turnbull2000 wrote: »

I agree, Graham needs to cut his ever increasing losses and perhaps make use of Help to Buy. Early adopters will fair best. Otherwise, the market will just move further and further away from him, then one day it’ll dawn that he’s too old for a mortgage and consigned to life as a private renter. A rather bleak prospect.

If the worst came to the worst, he could always buy some Northern s.hole for cash and still have enough left for a night out!

JencParker

I thought this forum was about 'Debating House Prices and the Economy' not a personal vendetta or 'let's have a personal dig at a certain poster' forum.

*rolls eyes*

ess0two

Dribley wrote: »

If the worst came to the worst, he could always buy some Northern s.hole for cash and still have enough left for a night out!

Hope not,keep the fool down there.

wotsthat

JencParker wrote: »

I thought this forum was about 'Debating House Prices and the Economy' not a personal vendetta or 'let's have a personal dig at a certain poster' forum.

..bit rich from someone that spends more time highlighting their own moral superiority than debating the economy.

chucky

JencParker wrote: »

I thought this forum was about 'Debating House Prices and the Economy' not a personal vendetta or 'let's have a personal dig at a certain poster' forum.

*rolls eyes*

Indeed Jennifer...

dryhat wrote: »

How's your sister's spare bedroom?