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Housing and the credit crunch report |
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By PricedOut on
Thu, 26 Feb 2009 12:54:56 GMT
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In a report from a government select committee on housing and the credit crunch (http://news.parliament.uk/2009/02/housing-and-the-credit-crunch-report/) the weaknesses of the buy-to-let system has been brought into stark view. As part of their recommendation, the committee stated that there is a need to ‘extend the period of notice that a lender is obliged to give a buy-to-let tenant that their home is at risk of repossession’ and provide ‘guidance for lenders re-possessing privately rented properties ensuring they make arrangements for the professional management of these homes’.
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Time for policy changes |
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By PricedOut on
Wed, 25 Feb 2009 19:40:48 GMT
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The credit crunch and crashing house prices have put a stop to delusional thinking (except vendors and estate agents). Now many people are emerging with their ideas on how to stop the next housing bubble.
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The Housing Market in 2008 |
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By PricedOut on
Fri, 02 Jan 2009 20:34:34 GMT
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House prices have fallen in 2008 between 12.8% and 16.8% depending on which statistics you look at. There have been regional variations, but if we needed one headline number we could use 15%. This is a good step in the right direction, but with the average house price at £162k it is still too high (can we define this? “It still stands at 5/6? times the average salary”). Factor in regional variations and there are still places where it is difficult to buy a reasonable place for under £200k.
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Prescott blames the banks for the housing boom |
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By PricedOut on
Fri, 02 May 2008 10:08:11 GMT
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John Prescott, the former deputy prime minister, has accused Britain's "greedy" banks and building societies of destabilising the economy by fuelling the boom in house prices over the last 10 years.
In an interview with Property Week published today, Prescott said the UK banks had abused the benign economy conditions of the last decade.
So what was he doing for the last 5 years while this was happening? He was coming up with flawed shared ownership schemes and so-called affordable
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