unclebuck

It looks like Nu Labor are about to start subsidising one of the biggest asset bubbles in history by using our taxes to buy houses which are falling in value by approx 15% a year. Rather than allowing the market to correct to 3x income, we will all now have to pay to keep house prices at a level that nobody can afford - Genius

BBC NEWS | Politics | Councils 'could buy unsold homes'

coolangatta

That's a pretty negative 'spin' on a plan to allow people to be 'part' owners rather than force them to default on their mortgages

speedking

Surely it depends on the price they pay. It could be capped at 3x average earnings of owner of that type of house in that area, then everybody's happy.

When house prices shoot up again, we might see a council tax holiday

Coffin Dodger

It can't get any worse

That is one of the single most stupid ideas I've ever heard.

coolangatta

Why?
Please explain

Leslie

So presumably they will be borrowing even more than the £80 billion that has already been announced!

Les

unclebuck

People pay lots of money to live in a nice new estate, then the market crashes, now coucils will be able to use taxpayers money to buy unsold houses at inflated prices and then give them to benefit wielding single mums with 20 kids to complete destry the neighbourhood. Won't be long til the chavs have run everything down.

Kieran_Burns

iTrader: (1)

but Local Councils have had the power to buy empty properties for some time haven't they?

How much would it cost for the council to house someone who is homeless due to repossession as opposed to buying out part of the debt?

I'm a bit confused as to why people think this is a bad idea...

coolangatta

You are a neo **** are you not

Martin2005

I trust that tougue was firmly in cheek when you typed this?

FlightMan

UB is worried about living near Chavs.

coolangatta

Infraction accepted
Doesn't answer the question though

unclebuck

Because it is plainly not for the State to go around dabbling in the free market effectively gambling with tax payers money to try to engineer things in their favour. I would have thought it was patently obvious.

unclebuck

tbh such banalities don't even warrent a response.

FlightMan

I think you'll find that the elected Govt can do whatever the hell it likes, given subsequent approvals by parliament etc. I don't believe they'll be interested in what you think.

You'll get your chance at the election.

scooby L

Current planning legistation/guidelines stipulate 50% "affordable housing" on all new developments (not that there are any going on at the mo) and has been for certainly 9 months if not 12.

In an effort to avoid the mistakes of the early 90's when groups of "cheap houses" were built together, and over the space of 10 years becoming run down and neglected ghetto's.

The hope is to intergrate the "less fortunate" of our population with the more fortunate, resulting in a better community and less "them and us"...

In real life people paying £500k on a new family home do not want to live next door to a 2 bed with Mr & Mrs Slob and their ASBO children.. and most do not find out until it's too late.

unclebuck

Sure, throw more money down the drain.

You would think they would learn to stop interfering, stop spending and act responsibly.

But no, too much to hope for.

coolangatta

If it was banal then why the infraction?
A failure to respond is often related to an inability to respond.

Martin2005

And this from someone who ONLY deals in banality!!

unclebuck

When the socialist runs out of arguments - which never takes long they always resort to petty name calling.

This happens at all levels from Government downwards and simply illustrates what and intellectually bankrupt mob they really are...

Can't string much more than a couple of sentances together never mind a coherent argument...

Martin2005

Or spell sentence for that matter!

BTW who's the socialist on here?

And it's a bit rich you going on about petty name calling, you more than anyone else uses silly names to describe people you don't agree with

Leslie

All our present problems stem from the way that the economy was run so irresponsibly purely for the sake of popularity and therefore more votes.

Les

coolangatta

It's very simplistic to blame all the economic problems on government.
Did our, and a lot of other countries, banking industry not foof us all over

Martin2005

Is all the prosperity we have enjoyed over the past 12 or so years the government fault too?

You should remember, we've never had it so good, our economy is £300Bn bigger now than it was 12 years ago

So some credit must surely be due, or are we just blaming the government for the bad stuff, and giving no credit for the good....AS USUALL??

^OPM^

Tut tut Martin 2005 - first you moan at UB for a spelling mistake then you spell USUAL with a double 'LL' .

Just hope that i haven't made any spelling errors now

The Zohan

Funnily enough friends of mine bought a nice 4 bed on a new estate, council ensured some of the new builds where 'social housing' and problems, such as anitsocial behaviour, noise pollution, etc are eminate from the social housing part of the estatethat they live near. They where blissfully unaware of the social housing element and TBH Steve is working class, goies tht ehWorking Mens Clube each Saturday so this is not a snob or a toff just a hard workin bloke. Problems started the week the chavs moved in.

Nothing to do with being a **** more to do with some people showing some respect and consideration for their neighbours!

Martin2005

Shoot me now!

I wasn't the one claiming that only Tories can put together coherent sentences though was I?

Gordo

Errrr...that's kind of what every other country in the world has achieved as well! Shame the socialists haven't tucked the gains from taxes over such a period away to cover us now!

Martin2005

Err no thats just factually incorrect.

Every other country, like who exactly? The US? Europe? Japan? or did you mean Zimbabwe when you say every other country in the world?

But back on topic, where I give this government a resounding FAIL is on housing policy, we have tens of thousands of empty houses in this country, and yet we as a society are still happy to see people sleeping on the streets, it's shameful

Leslie

Mostly achieved by overborrowing and encouraging people to go into heavy debt because of the cheap money which was available. The chickens are back to roost now. Why is the Chancellor having to borrow £80 billion just to keep up now?

You really should be more careful when you try to demean another man's post by criticising his spelling though!

Les