Taxpayer support

[truman]

In the North the price to earnings ratio in 1983 was 2.9 today it's 3.4 hardly a huge rise...

 

http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/downloads/ftb-hper.xls

 

it's been higher in previous years as well...

Edited October 23, 2015 by truman

[TJC1]

here's that link if anyone's interested...I geek out on data so it might not be that interesting to some!

 

http://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/

 

---------- Post added 23-10-2015 at 15:27 ----------

 

In the North the price to earnings ratio was 2.9 today it's 3.4 hardly a huge rise...

 

it's gone down a bit since the 2007/8 pre crash days.

 

House prices are predicted to rise 25% in next 5 years, however.

 

---------- Post added 23-10-2015 at 15:28 ----------

 

will salaries rise 25% against inflation?? try norfolk and chance.

[truman]

here's that link if anyone's interested...I geek out on data so it might not be that interesting to some!

 

http://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/

 

---------- Post added 23-10-2015 at 15:27 ----------

 

 

it's gone down a bit since the 2007/8 pre crash days.

 

House prices are predicted to rise 25% in next 5 years, however.

 

---------- Post added 23-10-2015 at 15:28 ----------

 

will salaries rise 25% against inflation?? try norfolk and chance.

 

A prediction and what will happen could very well be two different things...

[TJC1]

A prediction and what will happen could very well be two different things...

 

It's from a report by the Royal Institution of Chartered Surveyors (RICS).

Edited October 23, 2015 by TJC1
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[truman]

It's from a report by the Royal Institution of Chartered Surveyors (RICS).

 

Still a prediction.....

[TJC1]

 

it's been higher in previous years as well...

 

interest rates were bang up to 18% in the late 80's.

 

---------- Post added 23-10-2015 at 15:37 ----------

 

Still a prediction.....

 

they conducted a report and looked at a host of factors to be fair.

 

---------- Post added 23-10-2015 at 15:40 ----------

 

We've been through this.

1. It's hard to get planning permission to build housing.

2. There are high regulatory compliance costs in building them.

 

But we also need the state to stimulate growth and increase housing stock. Two sided coin.

[999tigger]

1) I just provided 4 solutions, look at the bigger picture.

 

2) I would not cut tax credits until it's balanced with proper increased income or incentives. Its not common sense to cut families budgets by £1800 per year+. But equally we have an unruly welfare system that's not fit for purpose.

 

3) house price to earnings ratio was 2.8 in 1995. It's now 9.2 in 2015 in London.

 

and you call me ridiculous.:hihi:

 

Yes you are because this thread is about tax credits and you clearly do not understand them.

When you get aksed questions you just refuse to answer.

 

A housing thread should have been started elsewhere.

 

Comparisons of price to earnings ratios is completely misleading because it doesnt take into account the record low interest rates.

 

Your solutions are all

 

 

4 things will help the housing crisis:

 

1) Preventing private sector housing is not going to help the housing crisis.

Buidling more social housing, then someone has to pay for it.

 

2) The banks are already regulated. Why do you need more incetives for buyers to inflate the market further? Banks are commercial enterprises, they lend when they feel they cna make money. You clearly dont understand how banks work.

 

3) Im sure employers will like the min wage increased even faster. It wont happen. All that will happen is you will get more inflation and more money chasing the same number of houses. It wont happen becayse the Cons are in power.

 

4) an extensive house building program both social and private. 250k per year+

Whilst you cna build more houses who is going to pay for them and where are you going to find the land? Its not impossible, but building houses costs money. Its not going to happen under the Cons and they will be on power for the next ten years at least.

 

 

You are completely unrealistic.

[TJC1]

You dont even understand the benefits system. If a person has no choice but to rent privately, then they will have to pay a private landlord and contribute to their income by way of rent.

 

fine, why should the state or anybody prop up private landlords?

 

an example is London. A million pound council house on the free market VS an affordable rent council house social.

 

private rents are way out of control.

 

---------- Post added 23-10-2015 at 15:47 ----------

 

Yes you are because this thread is about tax credits and you clearly do not understand them.

 

I understand tax credits perfectly. Been self employed for years. When I started out I relied on tax credits just like everybody on low income does.

 

I'm not sure what your argument is, I don't think you know either!

 

---------- Post added 23-10-2015 at 15:50 ----------

 

 

Your solutions are all

 

 

4 things will help the housing crisis:

 

1) Preventing private sector housing is not going to help the housing crisis.

Buidling more social housing, then someone has to pay for it.

 

2) The banks are already regulated. Why do you need more incetives for buyers to inflate the market further? Banks are commercial enterprises, they lend when they feel they cna make money. You clearly dont understand how banks work.

 

3) Im sure employers will like the min wage increased even faster. It wont happen. All that will happen is you will get more inflation and more money chasing the same number of houses. It wont happen becayse the Cons are in power.

 

4) an extensive house building program both social and private. 250k per year+

Whilst you cna build more houses who is going to pay for them and where are you going to find the land? Its not impossible, but building houses costs money. Its not going to happen under the Cons and they will be on power for the next ten years at least.

 

 

You are completely unrealistic.

 

I'm not denying tax credits fill a gap. But you got to change things. If we stay static, wages don't increase, houses don't get built, the welfare bill spirals out of control, expect more of the same but worse.

You never heard of the deficit and public borrowing??

Edited October 23, 2015 by TJC1
.................

[999tigger]

fine, why should the state or anybody prop up private landlords?

 

an example is London. A million pound council house on the free market VS an affordable rent council house social.

 

private rents are way out of control.

 

So typically you are too lazy to answer other peoples questions or respond to their explanations to your points. You do this all the time.

 

In what way is the state propping up private landlords?

Private landlords offer property to use which the state needs because it doesnt have its own.

 

If you wnat more council houses in London then you will have to build them. that means spending tax money which either means borrowing or increasing taxes. The Cons are not going to increase taxes, so you are unrealistic.

 

private rents may be expensive, but its supply and demand. the only way to alter that is to lower demand or increase supply.

[TJC1]

So typically you are too lazy to answer other peoples questions or respond to their explanations to your points. You do this all the time.

 

In what way is the state propping up private landlords?

 

example:

 

Landlord gets mortgage from bank. Mortgage is £600. Rents an ex-council property out for £600 to Tenant A. Next door Tenant B rents the SAME comparable property owned by the council for £400 (private rents are typically 20-50% more for the SAME property).

 

Not only do we have 1 less affordable house on the market, The state is now paying that private landlord (and his privately owned bank) 50% more (money is circulated privately) thus contributing to inflated rents because the market now finds a level ABOVE what is organic, thus contributing to the deficit and cuts.

 

you get the picture now?

Edited October 23, 2015 by TJC1
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