Housing Boom

[jgw1]

It is widely reported that our marvellous Chancellor of the Exchequer is on manoeuvres in North Devon today as part of his campaign to replace Johnson as Prime Minister.

AIBU to think that as part of the levelling up agenda he will be apologising to those who have grown up in North Devon for the housing boom he has fuelled by his stamp duty holiday which means they are now even more unlikely to be able to live in the place they grew up?

I live in a city in the north. My ds can’t afford to buy a house in the area he grew up in.

The chancellor has introduced many many prop up schemes to artificially keep prices high and the only people who suffer are the first time buyers who have to get into record debt, the stamp duty holiday was the icing on the cake, the help to buy scheme allowed everyone to borrow more so everyone offered more for the same house.

then there was the shared ownership scheme so you only own half your house and borrow as much as you can to finance half the house again rising prices in the process.

The ongoing zero interest rates meant people could borrow alot more and so offer alot more for the sane property, resulting in prices continually going up.

No doubt he will introduce another prop up scheme to get first time buyers to borrow even more so prices go up, nothing to bring house prices down to the average earnings.

Could start with taxing the buy to let sector alot more and second homes which are left empty, I know this will never happen as he has a vested interest and would also loose alot of votes

It’s buy to let that’s pushed prices up in university towns, and second homes in tourist areas.

They both need taxing to the hilt.

@ArseInTheCoOpWindow

It’s buy to let that’s pushed prices up in university towns, and second homes in tourist areas.

They both need taxing to the hilt.

So you are pleased with our future Prime Ministers announcements today about the steps he is taking to tackle this?

No. Go after the people that hoard and rent out excessive amounts of property to people at extortionate prices and don’t maintain these properties.

@Glisil

No. Go after the people that hoard and rent out excessive amounts of property to people at extortionate prices and don’t maintain these properties.

How many properties does Sunak own?