House Building everywhere, Can it Continue?

C_Mababejive

I see spreadsheet Phil made the mistake of continuing to fuel thehousing market by extending HTB to 2023. A scheme that was meant to be for the purchase of new build family homes for the less well off is actually being used to build 3/4/5 bed "executive" detached homes which are being bought by the middle classes, all funded by free taxpayer loans and boosting housebuilder profits.


And worse,it is pure fools gold for all the builders are doing is inflating the buy price by the amount of the HTB loan thus building in a big slice of potential negative equity for the buyer.


Added to this the load that will come on stream a few years down line when the free taxpayer loan becomes payable at an increasing rate,alongside the existing mortgage,,which in all liklihood will occur in a time of slighty higher interest rates..

Zero_Sum

C_Mababejive wrote: »

I hear you and i can only point you toward my signature.

The truth is that the very few lay claim to vast tracts of land in this country when they have no right to such claims.

Further HM Land Registry has historically connived with the aristocracy and wealthy landowners to hide claimed land ownership since land is only recorded if it is bought or sold.

Clearly the landed gentry and similar dont trade land. They simply engineer its transfer from one generation to another.

I would add that along with my passion for factory made engineered homes , i would legislate to give a minimum floor area for UK homes since house builders are throwing up pokey slums and selling them for inflated prices.

I would legislate to make land banking unattractive and my best suggestion of all would be that all new build family homes have three floors.

That may be ground,first and living roofspace or three floors plus habitable or otherwise roof space.

There is plenty of room in the sky and so all new builds would have a decent amount of living space.

What on earth is the point of building ground,first and an empty attic?

Of course the real culprit in all this is the failed economy which must maintain a link between tangible assets (houses) and the failed economy/crooked banking system.

The point of the 'empty' attic is storage space. More so in new builds where there isnt very much.

C_Mababejive

A useful guide to Help to Buy,,and fro this you may see what a ticking time bomb it could be...

First of all there is clear evidence that house builders simply inflate asking prices to take account of the "free" Government loan so you are buying too high to start with.

Further after 5 years your repayments on the HTB element kick in as well as your existing mortgage. The rates of increase on repayments ramp up year on year

https://www.moneysavingexpert.com/mortgages/help-to-buy-equity-loans/