The housing boom isn't a deep problem?

[doodab]

The housing boom isn

George Osborne has been under increasing pressure to review the Help to Buy scheme, as it has been branded as the catalyst for a ‘housing bubble’. But we really hope that the chancellor does not bow under pressure, as Help to Buy is proving to be of huge benefit to contractors throughout the country, and particularly outside London. Of some 14,823 applicants who have used the equity loan arm of the scheme, 77% of these people lived outside London and the South East. This dispels the myth that the scheme is fuelling the London housing bubble because clearly other regions of the country are seeing the most benefit.

Surely it's telling us that other parts of the country are being propped up more than London is then? And that an awful lot of people outside of London need help to afford a house. Hardly indicative that there isn't a problem is it...

[Doggy Styles]

"Of some 14,823 applicants who have used the equity loan arm of the scheme, 77% of these people lived outside London and the South East. This dispels the myth that the scheme is fuelling the London housing bubble because clearly other regions of the country are seeing the most benefit. "

It is fuelling the bubble everywhere.

[doodab]

"Of some 14,823 applicants who have used the equity loan arm of the scheme, 77% of these people lived outside London and the South East. This dispels the myth that the scheme is fuelling the London housing bubble because clearly other regions of the country are seeing the most benefit. "

It is fuelling the bubble everywhere.

Or deaccelerating the collapse. Perhaps that's why it's there. Take it away and you'd see continuing price falls across most of the country. Political suicide.

[original PM]

thing is though doesn't one of the laws of economics tell us that the value of something is actually what someone else will pay for it?

so if salaries stay level then house prices cannot really go up because no one can afford them...

so they either come down or they get subsidised.

....

I have no idea.

[scooterscot]

I could sell my house in Glasgow for about 8-10% more than i paid for it 10 years ago. Useless.

[original PM]

I could sell my house in Glasgow for about 8-10% more than i paid for it 10 years ago. Useless.

So that would be like what??

A tenner??

[TykeMerc]

I could sell my house in Glasgow for about 8-10% more than i paid for it 10 years ago. Useless.

So you bought at the top of the market and paid too much.

More fool you then.

[scooterscot]

So that would be like what??

A tenner??

At best.

Oddly I can charge someone that stays there 200% more than I did 10 years ago.

[scooterscot]

So you bought at the top of the market and paid too much.

More fool you then.

It's my style.

[doodab]

So you bought at the top of the market and paid too much.

More fool you then.

Hindsight is a wonderful thing isn't it. I don't recall anyone warning us we were at the top of the market in 2004.