Help to buy extended until end of 2020

aelitaman

I lived and worked in London in 90/91 and I saw the mentality then that house prices only ever go up, buy now or you will be renting for ever. Five years later mass negative equity for a lot of property experts and prices at 50% they were in the peak.

But house prices in London only ever go up.

So what can go wrong in the future.

Ed Miliband gets elected and turns the UK into a socialist paradise by having a stonking great mansion tax to discourage rich people from owning but leaving properties empty.

Because London is full of bankers he introduces the bankers council tax levels at very high yearly rates.

Then because bankers are bad he introduces a bankers bonus tax to be paid not just on bonuses but on all income that bankers ake at 80%.

He cancels the help to buy scheme because it is egalitarian and only for rich people.

So the foreign investors decide the costs are two high and start selling on mass. The bankers decide they can not stand Milliband and they emigrate and sell all their properties.

London enters a deep recession and prices half because of unemployment an mass exodus of hot money and fire sale of properties.

Then if the Tories win printed money unleashes high inflation, bank base rate hits 5% and 50% of home owners in London and the southeast can not afford there new monthly payments. Fire sale in the south east.

Then again it can all be perfect in the future and London house prices will only ever go up.

zarf2007

aelitaman wrote: »

I lived and worked in London in 90/91 and I saw the mentality then that house prices only ever go up, buy now or you will be renting for ever. Five years later mass negative equity for a lot of property experts and prices at 50% they were in the peak.

But house prices in London only ever go up.

So what can go wrong in the future.

Ed Miliband gets elected and turns the UK into a socialist paradise by having a stonking great mansion tax to discourage rich people from owning but leaving properties empty.

Because London is full of bankers he introduces the bankers council tax levels at very high yearly rates.

Then because bankers are bad he introduces a bankers bonus tax to be paid not just on bonuses but on all income that bankers ake at 80%.

He cancels the help to buy scheme because it is egalitarian and only for rich people.

So the foreign investors decide the costs are two high and start selling on mass. The bankers decide they can not stand Milliband and they emigrate and sell all their properties.

London enters a deep recession and prices half because of unemployment an mass exodus of hot money and fire sale of properties.

Then if the Tories win printed money unleashes high inflation, bank base rate hits 5% and 50% of home owners in London and the southeast can not afford there new monthly payments. Fire sale in the south east.

Then again it can all be perfect in the future and London house prices will only ever go up.

See those grapes your eating? They're getting a tad sour now....

aelitaman

zarf2007 wrote: »

See those grapes your eating? They're getting a tad sour now....

How do you know I do not own a mansion in London that I paid 200K for in 1991/2?

ethank

I remember someone telling me they were quitting there job in 2006 cos they had made equity of £35k in one year on their flat. I wonder how they felt in 2007 when they went into negative equity?