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Debate House Prices
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Help to buy? Yes please, say bankers!
Comments
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Whilst I am but one data point, I currently rent. I pay for the rent from investment income; if I took those investments and used them to buy a house, I'd have to take out a mortgage to cover the difference, and then I'd be paying out of pocket for somewhere to live. As such, I'm one of life's renters.
This, however, is a game changer. I am seriously considering buying a house with 5% down and letting Johnny Taxpayer (which is me, but everyone else as well) put in 20%; I have no intention of owning it for very long and this would be pure speculation, letting the taxpayer front me cash to play on the housing market. I reckon that if I let it ride for a couple of years and then cashed in, I'd make a nice profit.
I'm one person with some money, but not lots. If I'm thinking it's worth me doing on my small scale, I've no doubt some big players are standing by to make a fortune out of the government's latest attempt to start a new bubble.0 -
Whilst I am but one data point, I currently rent. I pay for the rent from investment income; if I took those investments and used them to buy a house, I'd have to take out a mortgage to cover the difference, and then I'd be paying out of pocket for somewhere to live. As such, I'm one of life's renters.
This, however, is a game changer. I am seriously considering buying a house with 5% down and letting Johnny Taxpayer (which is me, but everyone else as well) put in 20%; I have no intention of owning it for very long and this would be pure speculation, letting the taxpayer front me cash to play on the housing market. I reckon that if I let it ride for a couple of years and then cashed in, I'd make a nice profit.
I'm one person with some money, but not lots. If I'm thinking it's worth me doing on my small scale, I've no doubt some big players are standing by to make a fortune out of the government's latest attempt to start a new bubble.
Another provocative post lol! Which goes straight back to GD's original point...
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
There is more upside to Help to Buy than downside however many times people want to twist it or spin it.I'm not yet convinced that the financial institutions have anything to fear from financial carnage. As things stand, I suspect they would still be eligible for a taxpayer bailout. Hence GD's original thread title.
TruckerT0 -
There is more upside to Help to Buy than downside however many times people want to twist it or spin it.
Won't it make houses more expensive? Isn't that a bad thing?0 -
Won't it make houses more expensive?
In terms of the sticker price of the house, yes.
However it's also lowering mortgage rates and reducing the amount of time many people have to rent, so in terms of lifetime housing costs, probably not.Isn't that a bad thing?
No.“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: »In terms of the sticker price of the house, yes.
However it's also lowering mortgage rates and reducing the amount of time many people have to rent, so in terms of lifetime housing costs, probably not.
No.
So far as I know, interest rates look like being higher on Help to Buy deals. Probably because the whole idea looks pretty dodgy.
TruckerTAccording to Clapton, I am a totally ignorant idiot.0
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