Debate House Prices


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Has osbourne saved FTBs?

floridaman
floridaman Posts: 113 Forumite
in Debate House Prices & the Economy
With the recent announcements what is the outlook for FTBs and the housing situation in general?
«134

Comments

  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Rents will rise a lot more than they otherwise would have, house prices will rise a bit less than they otherwise would have, the shortage will continue to worsen.
    “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”
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Certainly has taken a few steps to creating a more level playing field. Better to use tax mechanisms than use and risk taxpayers money to underwrite house purchases. Which in itself does nothing to release air from the bubble. Merely keeps it inflated.
  • purch
    purch Posts: 9,865 Forumite
    floridaman wrote: »
    Has osbourne saved FTBs?

    No..........................
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • Sapphire
    Sapphire Posts: 4,269 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    floridaman wrote: »
    Has osbourne saved FTBs? With the recent announcements what is the outlook for FTBs and the housing situation in general?

    He hasn't 'saved' anyone. They have to 'save' themselves, not rely on others to do so. My gut feeling is that prices will fall – though perhaps not by very much. I don't think rents can go up much more because people will certainly not be able to afford them, so landlords would lose the benefit of having BTL. That and the higher cost of buying the properties will probably make more property available for buying to live in.
  • michaels
    michaels Posts: 29,133 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Sapphire wrote: »
    He hasn't 'saved' anyone. They have to 'save' themselves, not rely on others to do so. My gut feeling is that prices will fall – though perhaps not by very much. I don't think rents can go up much more because people will certainly not be able to afford them, so landlords would lose the benefit of having BTL. That and the higher cost of buying the properties will probably make more property available for buying to live in.

    So if people can't afford higher rents and haven't saved a deposit to buy where will they live? When I was renting although money was tight I would have found more money for rent rather than giving up my job and moving back to my parents house.
    I think....
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    Rents will rise a lot more than they otherwise would have, house prices will rise a bit less than they otherwise would have, the shortage will continue to worsen.

    Is there anything which doesn't lead to rent rises in your world?
  • brit1234
    brit1234 Posts: 5,385 Forumite
    floridaman wrote: »
    Has osbourne saved FTBs?

    He has saved the big builders.

    More Help to buy rubbish to allow builders to keep prices high won't help first time buyers.

    The starter homes are more interesting but believe they will be extremely expensive despite the hype.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    the key to lower prices (rent and house) is increased supply

    It's difficult to see anything he has done to increase supply
  • Mistermeaner
    Mistermeaner Posts: 3,024 Forumite
    Part of the Furniture 1,000 Posts
    i thought i saw planning reform somewhere - thats the key
    Left is never right but I always am.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Graham_Devon wrote: »
    Is there anything which doesn't lead to rent rises in your world?

    Building a few million more houses. :money:
    “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”
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