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Help to Buy is not fuelling housing bubble, says Cameron
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=20938		 Page 1 of 1
Author:  pcernie [ Thu Jan 02, 2014 5:21 pm ]
Post subject:  Help to Buy is not fuelling housing bubble, says Cameron
http://www.theguardian.com/money/2014/j ... id-cameron

Quote:
Prime minister defends scheme and says there is no evidence of a problem as house prices are still way below their 2007 peak


Yeah, cos they weren't ridiculous in 2007...
Author:  Amnesia10 [ Thu Jan 02, 2014 5:50 pm ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
House prices are still ridiculous when you compare them to wages which are falling. So the foundations for any sustainable housing market are being eroded by wages. Where I live there are plenty of million pound homes but they have been on the market for several years and no buyers. They are simply overpriced. There are far too few affordable homes being built.
Author:  jonbwfc [ Thu Jan 02, 2014 6:45 pm ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
I know this is a radical, left field concept and some may struggle with it but I'm going to throw it out there anyway...

Not everything David Cameron says is actually true.
Author:  bobbdobbs [ Thu Jan 02, 2014 7:19 pm ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
Amnesia10 wrote:
House prices are still ridiculous when you compare them to wages which are falling. So the foundations for any sustainable housing market are being eroded by wages. Where I live there are plenty of million pound homes but they have been on the market for several years and no buyers. They are simply overpriced. There are far too few affordable homes being built.

The trouble with affordable housing is everyone thinks its a good idea until some are planned near them. Then the nimbys come out in full force.
Author:  jonbwfc [ Thu Jan 02, 2014 8:16 pm ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
There's plenty of affordable housing. Just it's in Newcastle and Swinton and Dudley, not in London.
Author:  MrStevenRogers [ Thu Jan 02, 2014 11:48 pm ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
jonbwfc wrote:
There's plenty of affordable housing. Just it's in Newcastle and Swinton and Dudley, not in London.


that's the problem. most of the Muppet's of Parliament abode in London ...
Author:  TheFrenchun [ Fri Jan 03, 2014 9:50 am ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
Surely a "million pound home" that doesn't sell is not a million pound home.
Part of the problem is agents telling owners what they want to hear and swearing the can sell a house for XXX then houses sit empty for years
Author:  jonbwfc [ Fri Jan 03, 2014 10:45 am ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
TheFrenchun wrote:
Surely a "million pound home" that doesn't sell is not a million pound home.

This.
Author:  Amnesia10 [ Fri Jan 03, 2014 4:10 pm ]
Post subject:  Re: Help to Buy is not fuelling housing bubble, says Cameron
TheFrenchun wrote:
Surely a "million pound home" that doesn't sell is not a million pound home.
Part of the problem is agents telling owners what they want to hear and swearing the can sell a house for XXX then houses sit empty for years

Yes but it is more complex than that. The two main culprits around here give bonuses for registering homes as listed, and they usually try and get exclusive arrangements which costs the owners a fortune to get out of. It also locks out the competition from selling the property. The average over pricing is around 20% but even those for much more than a million are struggling to sell. One developer built 8 homes for £500 000 each and only one has been sold in the year since they were completed.
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