Why Are The Goverment Telling People To Buy When They Know1

RHemmings

JimmyTheWig wrote: »

No-one is suggesting you buy a house that you can't afford.

Not explicitly. But many have been suggesting that a house is "affordable" if you can afford the initial payments, without allowing any leeway for potential future events such as mortgages becoming more expensive or difficult to obtain.

obsessed_saver

JimmyTheWig wrote: »

No-one is suggesting you buy a house that you can't afford.

So by your reasoning, if property prices are 6 times national average wage, then anyone at or below the national average wage should not be buying because they can't afford it?

Yup, that's exactly what's happening now thanks to the credit crunch.

Trollfever

Please help............URGENT.

Just bought food for my kids and filled the car up and have no money left to pay my mortgage.

RHemmings

Trollfever wrote: »

Please help............URGENT.

Just bought food for my kids and filled the car up and have no money left to pay my mortgage.

Sell the car.

oldMcDonald

Can you walk to work? If not then I would ignore RHemmings advise and sell the kids instead.

trudiha

Trollfever wrote: »

Please help............URGENT.

Just bought food for my kids and filled the car up and have no money left to pay my mortgage.

Once you've got the kids up on ebay, will you send me a link; I'm looking for a couple?

Cheers.

oldMcDonald

trudiha wrote: »

Once you've got the kids up on ebay, will you send me a link; I'm looking for a couple?

Cheers.

As a Mum to 5 of 'em, I reckon you would be better off buying Trolls car. Much less money to fork out in the long run!

trudiha

oldMcDonald wrote: »

As a Mum to 5 of 'em, I reckon you would be better off buying Trolls car. Much less money to fork out in the long run!

I'm not sure that I could afford a car with a full tank of petrol.

Trollfever

Many thanks for the advice.

Have decided to put the car on eBay.

http://listings.ebay.co.uk/_W0QQa33535ZQ2d24QQa38ZQ2d24QQa39Z1944QQa85ZQ2d24QQalistZa39Q2ca41Q2ca33535Q2ca85Q2ca38Q2ca18Q2ca3801QQcatrefZC6QQdfspZ11QQfromZR2QQfsooZ2QQfsopZ3QQftrtZ1QQftrvZ1QQga10244Z10425QQgcsZ13QQpfidZ1150QQpfmodeZ1QQreqtypeZ2QQsabfmtsZ1QQsacatZQ2d100QQsaobfmtsZinsifQQsbrsrtZdQQsocmdZListingItemList

jamesd

Seems to pretty clearly indicate that the government is not viewing the housing market with the eyes of those who do not own their own home but want to. The whole idea that a drop of only 5-10% is a "best" outcome seems to be from the viewpoint of those who have had large windfall gains in capital value over the last few years and wouldn't like to lose some of those gains, while being directly contrary to the interests of those who don't yet own their own home or who are looking to buy a larger home to have room for more children.

Not the sort of viewpoint I want to see from a housing minister who's claiming to be trying to increase home ownership and encourage first time buyers.

Clearly the government is not on the side of those who want to buy their first home. In spite of that briefing document's hypocritical comment that "it's vital that we show at this time of uncertainty we show that we are on people's side". I suppose we can expect more bogus claims to be on our side while supporting high property prices.

The Housing Minister clarified whose side she was on in a later statement reported in The Telegraph: "This Government is on the side of homeowners" while also noting that prices are "45.5 per cent higher than five years ago". Getting rid of that 45.5% increase seems like something that will help first time buyers and those with growing families.