why not just put a ban on people making their own decisions for themselves altogether.
No problem with people making their own decisions. Once they don't go looking for government bailouts if they make the wrong ones of course.
Interesting points. And so far they all require Government resolve. Do you think they can be trusted to even some of the 'right' things. I mean they made such easy money at every turn of the construction boom it is gonna be tempting for them to let it run again if it shows signs of taking off. It arguably kept FF in Government for 4 terms. Will they change.
No problem with people making their own decisions. Once they don't go looking for government bailouts if they make the wrong ones of course.
Almost forgot introduce manditory (and very harsh punishments) for rogue politicians/Estate Agents/Mortgage Brokers/Auctioneers who colude with each other and/or developers to shaft the ordinary folk of this country
FF are the builders party and until the ordinary people of this country realise that they do not have the interests of the electorate at heart and only look after themselves then nothing will change.
Its them nasty FF/EA/bankers pulling the wool over the poor gullible joe public again, will they ever be taught a lesson?
I can't see anything 'wrong' with what's happened.
Just your classic boom and bust. It's just the way things are. People made hay while the Sun shone, and if they had any sense go out in time.
The government should keep its nose out of it.
Jethro Tull said:Impose a maximum mortgage term of 30 years
Impose stringent stress testing on borrowers in case interest rates increase (and make sure banks actually apply them)
Impose a maximum multiple of salary that a mortgage applicant can apply for (5x net annual earnings possibly)
Introduce maximum loan to value of a maximum of 90%
End and never restart tax systems which favour investors ahead of FTBs
Overhaul regulation involving estate agents/auctioneers etc
DB74 said:The reintroduction of the recommendations of the Bacon Report would be a start, beginning with the abolition of tax relief on mortgage interest for investors/landlords
At the moment, investors get 46% tax relief on 100% of the mortgage interest while homeowners get 20% relief on a restricted amount.
Of course people should be responsible for their own actions, a bail out wasn't mentioned but restricting things to 30 year only and the like doesn't suit everyone.
The bust will end when the banks decide to loosen lup ending again.
Of course people should be responsible for their own actions, a bail out wasn't mentioned but restricting things to 30 year only and the like doesn't suit everyone.
Quite alot of 'ordinary' folk are builders and have done quite well out of the boom, Just to re-cap are you saying FF are greedy and won't stop till the country is in ruins but their pockets are full and if so is there an alternative govt that you see as being a shing light in all this darkness?
Does the fact that people who earn some of the highest wages in the western world needed to borrow as high as 7-8x dual incomes, lie on their applications and repay over 40 years just to get on the bottom wrung of 'the ladder' (god i hate that phrase) not tell you anything.
How do you know this, are there statistics on it? The reality is that FF have done nothing to introduce land use and transport planning. Dublin is now given as an example to developing countries by the European Environment Agency as a model of bad planning..
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