Quote:
Originally Posted by heero_yuy
Why so negative?
If a small amount of discount, and in most cases this is nothing like the £75K that posters are moaning about, can be used to leverage a large investment from private sources e.g. Mortgages and the money is then invested in building new homes then surely this is a good thing for job prospects?
Thatcher's mistake was to let the moneys raised from housing sales be subsumed into the black hole of the Treasury instead of letting local authorities re-invest it in new housing stock as is the current plan.
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the problem is controls the finances if the council then they will filter X or all to ofset cuts . Lets not forget we only seeing round one of those cuts.
The other is value if you reduce the stock value so its nice number to entice a person who renting thus can afford to buy. How many homes can you build with labour/materials.
You realistically cant drop the value too low it destroys the income to rebuild enough houses not forgeting we already despare situation.
If we cant build 1 sold 5 new built ratio we in trouble. My fear though is the future creating market boom last thing we need right now. Also we pushing ourselves again fear people who clearly not in position to get mortage its boom or bust scenerio. Crazy have 95% mortage absolute nuts insane leaves no room for flexibilty in income/mortage rates.
They should make it law no more than 50% of income from starting a mortage. Might just smash the housing market back to reality.