It wasn't going to work......

[fred]

yes but the phils GDP is only 1/16 of the UKs

Joe you missed the point as The UK`s GDP obviously aint
assisting it to recover from a long and lingering recession!!
A year ago I really thought that the P.I and the Peso would be suffering big time by now..
Obviously I was wrong as the economy has been growing for the last 30 odd months.

i thought social housing/council housing was for people who couldn't afford to buy

Well I certainly couldn't afford to buy at the time and it would have stayed that way if I hadn't have received the discounted right to buy price..
The spring board that helped me change my life and future prosperity..
Whats wrong with that?

[Arthur Little]

Well I certainly couldn't afford to buy at the time and it would have stayed that way if I hadn't have received the discounted right to buy price..

... same here! Wayne.

The spring board that helped me change my life and future prosperity..
Whats wrong with that?

Mine, too!! And ... there's nothing whatsoever wrong with it. But I suspect there ARE those who would disagree!

[keithAngel]

I dont blame anyone who got on the property ladder this way .

The problem as I see it was twofold

Artificial scarcity drives up prices, for example a three bed terraced house in Totnes valued at £168,000 has a rebuild price for insurance purposes of £66,500 meaning over £100,000 is "created" in value in the "planning permission" which is controlled by a combination of Central and Local Government without regard to everyone's need to live some where, and with no actual wealth having been created.

Second the money from those sales was not applied to creating the next generations right to do the same hence the near impossibility for non sub-prime mortgages for first time buyers which leads us to the mess we are all now in

[somebody]

I dont blame anyone who got on the property ladder this way .

The problem as I see it was twofold

Artificial scarcity drives up prices, for example a three bed terraced house in Totnes valued at £168,000 has a rebuild price for insurance purposes of £66,500 meaning over £100,000 is "created" in value in the "planning permission" which is controlled by a combination of Central and Local Government without regard to everyone's need to live some where, and with no actual wealth having been created.

Second the money from those sales was not applied to creating the next generations right to do the same hence the near impossibility for non sub-prime mortgages for first time buyers which leads us to the mess we are all now in

Again a bubble is starting to form and many still think propety prices are not right. Some of the dodgy goings on I have seen in out local area as I keep a keen eye on the propety market and from what i read in other areas with places which were never up for sale or let being advertised as deals gone though locally
Is making people think they had better move now. Strangely many of these houses deals dont appear in the land registery data once released

[bornatbirth]

Mine, too!! And ... there's nothing whatsoever wrong with it. But I suspect there ARE those who would disagree!

i dont disagree but would like the chance to do the same

[IainBusby]

I dont blame anyone who got on the property ladder this way .

The problem as I see it was twofold

Artificial scarcity drives up prices, for example a three bed terraced house in Totnes valued at £168,000 has a rebuild price for insurance purposes of £66,500 meaning over £100,000 is "created" in value in the "planning permission" which is controlled by a combination of Central and Local Government without regard to everyone's need to live some where, and with no actual wealth having been created.

Second the money from those sales was not applied to creating the next generations right to do the same hence the near impossibility for non sub-prime mortgages for first time buyers which leads us to the mess we are all now in

Quite right, if 100% of the money from the sale of council houses had been ploughed back into building new coucil houses and had continued on that basis it would have gone a long way to preventing the starter home housing shortage that drove prices through the roof. Unfortunately the Thatcher government inherant hatred and distrust of local authorities combined with their free market, devil take the hindmost ethos ensured that they would not be allowed to spend this money in such a way.