Funding for Lending on mortgages is ended

wotsthat

Graham_Devon wrote: »

Yes, probably the one you keep making up.

If this leads to a reduction in house prices or anything you have suggested above, then put simply, house prices were artifically high. We can't continue on that path forever.

Hence why I'd simply like to see a natural level. If that natural level is where prices are today, then fine. But I don't believe it is. I believe its some way lower.

Thing is, if prices fall on the back of this, the people it will hurt the most again are those using the schemes offered today and those rushing in to buy on fear of prices rising. It could even put the taxpayer at risk if prices start to fall back, even slightly, while HTB continues. I'm surprised they have done it to be honest, but am at the same time delighted. I've said a million times I'd rather see a natural level instead of artificial stimulus.

The Graham_Devon I'm thinking of just wants prices to fall. He thinks this would be a very good thing - I suspect mainly for himself but happy to give the benefit of the doubt. Don't know why you just don't say this.

A natural level means nothing - I suspect to you it means removal of anything that could be considered inflationary (the 'props') whilst retaining anything that could be considered deflationary (stamp duty, 'mortgage rationing' etc.

When FFL has gone will you accept that the market has reached it's natural level? You can't be that worried about HTB surely - to date the sums involved are peanuts by comparison to FFL.

chucky

Graham_Devon wrote: »

Why just first time buyers?

Because HTB is predominantly for first time buyers and is a very small amount.

Graham_Devon

chucky wrote: »

Because HTB is predominantly for first time buyers and is a very small amount.

Think you may find yourself mistaken.

Help to buy is open to all. Both parts 1 and 2.

While the majority of loans thus far has been to first time buyers, HTB part 2 has only just come on board.

Graham_Devon

wotsthat wrote: »

The Graham_Devon I'm thinking of just wants prices to fall. He thinks this would be a very good thing - I suspect mainly for himself but happy to give the benefit of the doubt. Don't know why you just don't say this.

I have, several times.

I will do again. I want house prices to fall.

Where I dsiagree with your accusations is when you stated I want prices to crash, because I don't and have never said such.

I was quite content when prices were falling last year.

If you would just stop creating scenarios, inventing imaginary situations (and this goes for chucky and loughton too) things would be a lot easier around here. This nitpicking, the outright pedantry and continual creation of slurs is boring. You keep having to say "I think you", "I imagine you", I suspect you".

Theres something wrong there when you have to keep using those words in front of your explanation of what you believe i have said. I don't do it to you, and there are plenty of other posters who I would imagine don't particularly like each thread being taken up by this same stuff.

macaque_2

To quote Hamish's favourite argument, it is a question of supply and demand. In this case, the supply of heavily subsidised credit (courtesy of the tax payer) has just been turned off. Should people be delighted? For some the answer is clearly yes:

• Pensioners living on fixed incomes
• Young people wise enough to stay out of the housing market
• Savers
• Anyone who gives a hoot that we will get out of this financial mess

nickj_2

we know that hp's are over priced already ,especially for the average man on the street so to see them rise even more is inflating the bubble even further .
if people are borrowing more and more for houses this will mean there's less and less cash for them to spend on other stuff which would improve the economy
add in a small rise in interest rates and it could be squeaky bum time for some

grizzly1911

macaque wrote: »

• Anyone who gives a hoot that we will get out of this financial mess

HPI will help surely.....

wotsthat

grizzly1911 wrote: »

HPI will help surely.....

Latest Land Reg data shows an annual increase of 3.1%.

What's that? Six years where house prices have fallen in real terms.

I really don't understand the hysteria.

blinko

And so the start of the increase in cost of borrowing begins....next up interest rates and then the withdrawal of help to buy

wymondham

That's one prop gone then!


Just need the others to go to see house prices find their own more sensible level!