What r yr thoughts on the government buying up houses?

Question

http://uk.news.yahoo.com/rtrs/20080619/tpl-uk-britain-housing-39349ed.html

Obviously using tax payers money.

What r yr thoughts on this proposal.

Good idea or not?

Answer 1

Where has this "unused" billion pounds suddenly come from?! Why is it not going to something useful instead of buoying up housebuilders profits?!

This is just the market reacting to stupid prices. The only way I will be able to buy anything that wasn't formerly a crack-den is for prices to come down.

Answer 2

So they can sell them to their cronies on the cheap?

No one seriously thinks the poor will benefit, do they?  They will do some deal with big business to let them out, or sell them to middle class professionals.

If you happen to be a bin man or a road sweeper, then it will be tough s h i t.

Answer 3

I think this a good idea.  But how about this for a better one.

The Government should buy repossessions. At a knock down price.  Keep the families in there to save the costs of re housing and charge a market rent for the property.

I do however think that the Government is incapable of working within a free market and inevitably will pay over the odds for new housing, boosting the house builders profits.

I also think that all these people moaning about not making a profit out of housing any more should be thankful for the last 10 yrs and look forward to the recovery.

Answer 4

I think its a good idea, they sold off all the council houses in the past and that led to a lot of problems. Also a good idea to buy them on the cheap rather than later down the line when they may be more expensive wasting more tax payer money

Answer 5

This a very poor concept. If the United States would purchase homes this would only lead to socialism. The United States is a democracy. The reasons for the loss of homes are high prices of food, gasoline and the most serious problem is the high unemployment,

Answer 6

That's why they have deliberately destroyed the economy bringing the price of houses down and people are desperate to sell.  Once the economy recovers house prices will rise again and the governments pockets will be full again at the expense of the tax payer., once it recovers