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[mutanthands]

The government can’t let the housing market crash though as that is all their voters.

Are you sure?
The government haven't even sorted the fall-out from Grenfell Tower, which was 5 years ago.
This alone must have cost the government £billions in lost capital gains tax.etc
A lot of flat owners are trapped because buys can't get a mortgage against the property, limiting to cash buyers only. This is really going to come to a head when folks renew their mortgage...

This government is inept on a scale that is truly bewildering. I wouldn't put anything past them.

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[Deleted member 7514]

Are you sure?
The government haven't even sorted the fall-out from Grenfell Tower, which was 5 years ago.
This alone must have cost the government £billions in lost capital gains tax.etc
A lot of flat owners are trapped because buys can't get a mortgage against the property, limiting to cash buyers only. This is really going to come to a head when folks renew their mortgage...

This government is inept on a scale that is truly bewildering. I wouldn't put anything past them.

I think we all get confused by low borrowing and believe it will always be the same.

People have unfortunately (rightly or wrongly) taken low borrowing to mean they can stretch themselves and banks have been equally guilty of that.

I learnt the lesson in the 90s and so i know my leveraging.

Part of the problem has been the obsession with people owning houses and the right to buy and first time buyer discounts etc when the problem has been that the loans are too big and they are only affordable homes when interest rates are low,

When they are normal at 4-5% pre 2008 thats the calculation people should be basing lending on.

We can’t blame the government for everything even if they have been inept!