Vague_Boy Posted March 20, 2013 Share Posted March 20, 2013 They are going to help young people to borrow more money to buy an house and dressed it up as a good thing, when in fact young people don't want to borrow more to buy an house, they want to buy the house whilst borrowing less money. They (and the last lot) are/were desperate to get the housing market going again. People using their houses as ATMs (equity release), buying then quickly flipping for a profit, refurbishing the place along the way (lots of repeat business for the likes of B&Q), it all creates the illusion of prosperity. ‘Prosperity was illusion created by global credit bubble' Having house prices resume their upward pace would just cripple our economy even further. We want to reduce personal debt, not saddle young people with more of it. Anyhoo, as for the Budget, it'll be the usual adjusting the deckchairs on the Titanic approach. Link to comment Share on other sites More sharing options...
WeX Posted March 20, 2013 Share Posted March 20, 2013 Bad news for who? Definitely not for the bankers and as far as I can remember Barclays weren't bailed out so they can do whatever they like with their money. Not by the tax payer, but they sold their souls to a Saudi prince I think. Link to comment Share on other sites More sharing options...
Supertramp Posted March 20, 2013 Share Posted March 20, 2013 Not by the tax payer, but they sold their souls to a Saudi prince I think. Not fussed as long as bonuses aren't funded by me it is all hunky dorey. Link to comment Share on other sites More sharing options...
truman Posted March 20, 2013 Share Posted March 20, 2013 They (and the last lot) are/were desperate to get the housing market going again. People using their houses as ATMs (equity release), buying then quickly flipping for a profit, refurbishing the place along the way (lots of repeat business for the likes of B&Q), it all creates the illusion of prosperity. ‘Prosperity was illusion created by global credit bubble' Having house prices resume their upward pace would just cripple our economy even further. We want to reduce personal debt, not saddle young people with more of it. Anyhoo, as for the Budget, it'll be the usual adjusting the deckchairs on the Titanic approach. If more houses are built on the back of this (the market thinks so look at how some of the big builders shares have moved) then won't that bring house prices down? Link to comment Share on other sites More sharing options...
maxmaximus Posted March 20, 2013 Share Posted March 20, 2013 They (and the last lot) are/were desperate to get the housing market going again. People using their houses as ATMs (equity release), buying then quickly flipping for a profit, refurbishing the place along the way (lots of repeat business for the likes of B&Q), it all creates the illusion of prosperity. ‘Prosperity was illusion created by global credit bubble' Having house prices resume their upward pace would just cripple our economy even further. We want to reduce personal debt, not saddle young people with more of it. Anyhoo, as for the Budget, it'll be the usual adjusting the deckchairs on the Titanic approach. I couldn't agree more, they are all clearly idiots. Builders will just up the price when credit is made easier to get. You can get 2.5 mortgages, government gives 0% loans, sooner or later we will need negative interest rate lending to buy an house. ---------- Post added 20-03-2013 at 15:21 ---------- If more houses are built on the back of this (the market thinks so look at how some of the big builders shares have moved) then won't that bring house prices down? No because when that starts to happen builders will stop building, I think they will have seen the consequences of building too many houses as seen in Spain and Ireland. Link to comment Share on other sites More sharing options...
Mister M Posted March 20, 2013 Share Posted March 20, 2013 Bad news for who? Definitely not for the bankers and as far as I can remember Barclays weren't bailed out so they can do whatever they like with their money. Really? Senior bankers at Barclays weren't involved in LIBOR rate rigging? Still it wouldn't matter if they weren't. They are rich, and we all should tug our forlocks. Good job there are people on benefits who we can feel superior over and tell what to do with their money. Link to comment Share on other sites More sharing options...
Supertramp Posted March 20, 2013 Share Posted March 20, 2013 Really? Senior bankers at Barclays weren't involved in LIBOR rate rigging? Still it wouldn't matter if they weren't. They are rich, and we all should tug our forlocks. Good job there are people on benefits who we can feel superior over and tell what to do with their money. When has a bank told you what to do with your money? I said they weren't bailed out, nothing about the LIBOR rigging, however Barclays were fined for the LIBOR rate rigging, so what do you want to happen? Never pay bonuses again? Link to comment Share on other sites More sharing options...
WeX Posted March 20, 2013 Share Posted March 20, 2013 Not fussed as long as bonuses aren't funded by me it is all hunky dorey. Me neither, I don't see why people scream and complain when people who are at the top of their game receive large amounts for their efforts. Top sports men and women earn even more these days but none complain about that. Link to comment Share on other sites More sharing options...
ricgem2002 Posted March 20, 2013 Share Posted March 20, 2013 Me neither, I don't see why people scream and complain when people who are at the top of their game receive large amounts for their efforts. Top sports men and women earn even more these days but none complain about that. rewarding failure is your idea of good management no wonder the country is in the state its in. Link to comment Share on other sites More sharing options...
steveroberts Posted March 20, 2013 Share Posted March 20, 2013 The increased personal allowances and reduction in employer NI are very welcome...shame we've got to wait another year for them to happen. Good news for future homeowners too...but what affect will this have on house inflation? Link to comment Share on other sites More sharing options...
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