Do a U-turn on tax credits, George Osborne – or you’ll never be prime minister

[BlasterBates]

Low interest rates means low unemployment and no-one defaulting on their mortgage.

In the early 1980's and 1990's we had very high unemployment, and lots of people losing their homes.

Those that don't know how the early 1980's and 1990's were will at some point find out, and it might not be what they'd hoped for.

[PurpleGorilla]

Thanks for the history lesson Dad.

[BlasterBates]

Thanks for the history lesson Dad.

Don't worry you'll get your chance, in a few years commodities will shoot through the roof sparking inflation, the BOE will jack up interest rates, you'll lose your contract and few months later you'll lose your house, then you'll go through three years of bankruptcy live in a bedsit after which the economy will finally pick up. Then you'll pick up a house at rock bottom prices. 20 years later the neo-baby boomers will then start complaining about high house prices and introduce a new tax to hammer the greedy milennials sitting on their backsides in their now over valued houses.

That's usually how it pans out.

[PurpleGorilla]

Don't worry you'll get your chance, in a few years commodities will shoot through the roof sparking inflation, the BOE will jack up interest rates, you'll lose your contract and few months later you'll lose your house, then you'll go through three years of bankruptcy live in a bedsit after which the economy will finally pick up. Then you'll pick up a house at rock bottom prices. 20 years later the neo-baby boomers will then start complaining about high house prices and introduce a new tax to hammer the greedy milennials sitting on their backsides in their now over valued houses.

That's usually how it pans out.

I vote for tighter lending criteria and improved rental arrangements, combined with enough taxes to make property just homes rather than assets. If prices were modest, and prices rises moderated, it would be a much better thing.

[ChimpMaster]

I vote for tighter lending criteria and improved rental arrangements, combined with enough taxes to make property just homes rather than assets. If prices were modest, and prices rises moderated, it would be a much better thing.

What Blaster says is absolutely correct. Those of us who can recall (or have read about) the last real property/economy crashes would never want the population to go through that. The 2008 crash was lame by those standards, because impact on individuals was largely negated by the slashing of interest rates.

You have probably spent the best part of the last 10 years feeling this way and writing the same rhetoric. Wasted time, because none of us can control macro or global economic events. I suppose you were also active in trying to persuade governments to intervene when oil prices shot through the roof, or when the price of bread doubled since 1996?

Why not just move to a country where you can buy cheaper property and stop complaining, and get on with living your life. It's a free world... well parts of it anyway.

[PurpleGorilla]

You have probably spent the best part of the last 10 years feeling this way and writing the same rhetoric. Wasted time, because none of us can control macro or global economic events. I suppose you were also active in trying to persuade governments to intervene when oil prices shot through the roof, or when the price of bread doubled since 1996?

Why not just move to a country where you can buy cheaper property and stop complaining, and get on with living your life. It's a free world... well parts of it anyway.

off and on; yes.

I have spent the last 10 years watching pretty much all of my friends and peers gifted massive deposits and inheritances.

Where do you suggest I relocate to [emoji12]?

[TykeMerc]

off and on; yes.

I have spent the last 10 years watching pretty much all of my friends and peers gifted massive deposits and inheritances.

Where do you suggest I relocate to [emoji12]?

Planet real would be a start.

Oh if you're jealous of your mates being gifted money and you not, here's a message TOUGH! Suck it up sunshine, no-one owes you anything.

Your ranting on this issue has never made a cogent or sensible point that could be implemented in the UK.
Yes I'd be quite happy to see 70% knocked off all house prices overnight, but my mortgage is for feck all and I'm very much in a minority as home owners go. I've seen what happens when there's a genuine house price plunge (2008 wasn't even a blip), large numbers of ordinary people disappear into negative equity, bankruptcies soar and speculators with a lot of cash end up buying entire streets and then capitalise in a few years.
It was the Thatcher Government that changed the face of the property market in the UK, there's no way to unwind what they did and change it back. It's not the fault of the "Boomers" you love to blame, if you want to bitch at anyone go and scream at her grave, it will do you as much good as the whining bollocks you endlessly write on this subject.

[AtW]

In the early 1980's and 1990's we had very high unemployment, and lots of people losing their homes.

This would have never happened under Labour

[d000hg]

Single mum - check

Plenty of kids - check

Totally reliant on benefits and thinks tax credits is her income - Check

Looks pig ugly and watches Jeremy Kyle all day - check

What absolute tosh, she is a typical life long Labour voter and I suspect she was planted in there by Labour.

What part of working mother don't you understand? Or maybe it's the "working tax credits" you struggle with?

She has a job so is neither totally reliant on benefits nor at home watching TV.




To my mind, attacking those who complain about losing a tax break due to working tax credit changes is pretty rich from contractors crying about having to pay tax on their income through dividend taxes.

[PurpleGorilla]

Planet real would be a start.

Oh if you're jealous of your mates being gifted money and you not, here's a message TOUGH! Suck it up sunshine, no-one owes you anything.

Just being honest - and telling it how it is.

BOMAD is fueling the problem, as is BTL.