The Duck of Atholl Posted October 6, 2021 Share Posted October 6, 2021 2 minutes ago, HeliX said: I think Government spend on FTB schemes is probably a better investment than having a huge increase in housing benefit spend in 35-40 years time. I wouldn’t know but paying out on the FTB scheme is no guarantee that you won’t be paying out for housing benefit for those people in 35-40 years time. 1 Quote Link to comment Share on other sites More sharing options...
pongo Posted October 6, 2021 Share Posted October 6, 2021 2 minutes ago, HeliX said: I think Government spend on FTB schemes is probably a better investment than having a huge increase in housing benefit spend in 35-40 years time. FTB schemes typically inflate the cost of FTB properties. But government would not need to spend anything on FTB schemes if it simply ruled that a certain proportion of new build could only be sold to FTBs and set price limits. 5 Quote Link to comment Share on other sites More sharing options...
HeliX Posted October 6, 2021 Share Posted October 6, 2021 Just now, The Duck of Atholl said: I wouldn’t know but paying out on the FTB scheme is no guarantee that you won’t be paying out for housing benefit for those people in 35-40 years time. Not doing it may well be a guarantee that you are though. And housing benefit is likely lining the pockets of offshore firms and investors, at least FTB schemes benefit island residents and the local economy. 3 Quote Link to comment Share on other sites More sharing options...
Shake me up Judy Posted October 6, 2021 Author Share Posted October 6, 2021 This needs investigating. It's not normal market behaviour. Someone's created a bubble here and is making a killing. 6 Quote Link to comment Share on other sites More sharing options...
Flyingfemme Posted October 7, 2021 Share Posted October 7, 2021 It isn’t an island problem; it is everywhere. Property prices in Gloucestershire have risen over 20% in the past year. Cheap money and agents ramping up the market are mainly to blame. People are reassessing where, and how, they want to live and tiny, dark homes with no outside space are not it. Mortgage rates are so low it ain’t funny and borrowing an extra couple of hundred grand is noproblem for people moving out of the big cities. When you compare the situation with 1990, don’t forget that mortgage rates were around 13% then! A hike in base rate would simply wipe everyone, and everything out now. 1 Quote Link to comment Share on other sites More sharing options...
Ramseyboi Posted October 7, 2021 Share Posted October 7, 2021 12 hours ago, Shake me up Judy said: This needs investigating. It's not normal market behaviour. Someone's created a bubble here and is making a killing. It’s happening all over Britain! What do you think needs investigating exactly? House prices are climbing nearly everywhere, pretty much like they always do 1 Quote Link to comment Share on other sites More sharing options...
manxchester Posted October 7, 2021 Share Posted October 7, 2021 23 hours ago, Ramseyboi said: When I rented privately rates were included. Working harder typically leads to chances for promotion or to apply for better jobs, therefore you get paid more. I currently earn less than I used to. This is a lifestyle choice to reduce hours and stress. If I needed or wanted more income I would either work harder at what I do now or find a higher paid job and accept the extra impact on my family life and possibly mental health. Years ago I worked my arse off and was earning three times the average wage at the time by 25 and significantly more than that by 35. These days I prefer a more laid back life. 3 1 Quote Link to comment Share on other sites More sharing options...
Danoo Posted October 7, 2021 Share Posted October 7, 2021 13 hours ago, Shake me up Judy said: This needs investigating. It's not normal market behaviour. Someone's created a bubble here and is making a killing. Yes, central banks. Most of the currency that has ever been printed has been brought into circulation in the past few years. Asset prices will rise accordingly as excess currency looks to find a home. You think the stock market has been increasing during a worldwide downturn because all these companies have suddenly become better and more efficient? Same with real estate. 3 1 Quote Link to comment Share on other sites More sharing options...
hissingsid Posted October 7, 2021 Share Posted October 7, 2021 It is the lower range house prices that are rising, houses are being sold before they are advertised there were two houses in my neighbourhood that were sold before for sale signs went up, I think the really expensive ones stick around longer. 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted October 8, 2021 Share Posted October 8, 2021 The islands Unite Union leader has been given star billing on the Nations Propaganda Mouthpiece blaming everything on zero hours and saying that and the property prices are forcing young people to flee the island. Didnt young people at one point flee the island as there was no work. According to our Government Propagandists, there is no shortage of work. To blame zero hours is rather tedious as not every job sector is using zero hours contracts. 1 Quote Link to comment Share on other sites More sharing options...
The Duck of Atholl Posted October 8, 2021 Share Posted October 8, 2021 23 minutes ago, 2112 said: The islands Unite Union leader has been given star billing on the Nations Propaganda Mouthpiece blaming everything on zero hours and saying that and the property prices are forcing young people to flee the island. Didnt young people at one point flee the island as there was no work. According to our Government Propagandists, there is no shortage of work. To blame zero hours is rather tedious as not every job sector is using zero hours contracts. Young people are leaving probably because they want more than what’s on offer on the island be it job variety, entertainment or just choice in general 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted October 8, 2021 Share Posted October 8, 2021 I find it a bit rich coming from the Unions, and in part from the Politicos. The churn of houses on the island has created employment, local and off island trades person, living in local HMOs, where everything is all in. In turn this has created a boom for plumbers, joiners and electricians. If you require one, see how much their bill is? Hourly rate - not cheap. Are the Unions going to moan? The IOMG won’t moan either as they will get taxes. There is a shortage of tradespeople at present, especially decent quality contractors, but other things have prevented that. Quote Link to comment Share on other sites More sharing options...
2112 Posted October 8, 2021 Share Posted October 8, 2021 St Ashy of Douglas North is wittering on in the Courier about outdated IOMG offerings for getting people onto the property ladder. He says things like Plot to Build and Shared Equity. Plot to build is useful except building plots are expensive and to build again is expensive. Another slight problem is finding affordable, reliable and skilled tradespeople. Shared Equity is not as popular as Shared Ownership which is a lot more affordable for people, and gives them an incentive as well to staircase in the future (I.e, purchase 25% of the property now then buy another 25%, or 50% later.). Unfortunately the IOMG is still stuck in a timewarp, relying on outdated thinking and old style civil servants, vested interests and they know best attitude. Quote Link to comment Share on other sites More sharing options...
SleepyJoe Posted October 8, 2021 Share Posted October 8, 2021 Gosh I hope CM Cannan can initiate progressive change for the common good Quote Link to comment Share on other sites More sharing options...
Danoo Posted October 10, 2021 Share Posted October 10, 2021 Lloyds in the UK have set up Citra Living, a build to rent landlord scheme by agreeing deals with housebuilders, whereby they are aiming to be a serious player in the rental market in the UK. So I assume they would be doing the same here too? 1 Quote Link to comment Share on other sites More sharing options...
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