Tuesday, 2 September 2008

on those buying houses today

Don’t sign on the line.

After weeks of speculation, causing their own slowdown in the housing market, the government has finally announced changes to the housing market.

Houses bought costing less than £175,000 (are any of those left?) will have no stamp duty imposed. But hold the press!

Free loans for five years for ‘households’ earning less than £60,000! (No doubt households translates to families and not individuals.)

Nick Clegg’s response:

"This looks like a hotchpotch of measures thrown together to save Gordon Brown's political skin.

"The social housing stock could be increased far more easily by allowing local authorities to buy up unsold properties and use them for new social housing.

"Yet again the government is desperately scrabbling around for a way to fix problems of its own making."

Sounds very opportunistic, he should have said,

“The housing market varies across the UK.

The best way to address this is not a national policy which will help some and not have any impact on others, but one which gives more power to local authorities to decide how they would like to help their local areas.

This has always been the Liberal Democrat stance.”

I’ll let him off though it does sound like a hotchpotch, after the five years is up a “fee” will have to be paid. Sounds as dodgy as a PFI deal.

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