The Help to Buy scheme is a twist on the 125% mortgage. It's really very simple. Either someone can afford to buy a particular house at the current market rate, or they can't.
Help to Buy encourages people who can't afford a house, to buy a house. If they could afford it they wouldn't need "help to buy". Not just a house, but a house that is being sold at an enormous (20%+) premium. Rising markets aside, it's a guaranteed loss for the buyer. The buyers are paying the developers profit of 20%, plus finance costs in the form of an enormous loan they cannot afford. It's a time bomb.
We're told we need 300,000 new homes per year. Must be nice to set a figure like that an know that your own company will make £40k per house (allegedly). Hmm. We were also told to buy diesel cars. Suddenly, we're told diesel is not environmentally friendly and we need to pay more tax to offset the pollution we cause. Where did the original subsidy for diesel cars go exactly? Nobody with a conscience knows.
I'm not party political but we're being sold the same old **** over and over again, under different headings. We're being sold it by people who have no experience of the world at all and go along with what they are told to do by their backers. These politicians are born, they go to school, go to university of some sort, nobody cares which one as long as they get a Desmond. Eventually, they study politics. Suddenly, they are qualified to determine the course of world affairs after completing their apprenticeship in photocopying at whatever EU quango they happened to stumble upon.
It's one enormous joke, except, it isn't funny at all because not only are we paying for it, our children, grand children and great grand children will also be paying.
The £128m bonus made headlines in the UK, but the real scandal isn't there. It was a headline designed to shock, but if you dig deeper, it fails spectacularly. £128m is nothing. It's not shocking at all. Its chicken feed. The exec paid this was screwed over and no I'm not being sarcastic.
£128m will barely buy you a decent superyacht (let alone maintain it), yet there are plenty of people in the world who have not only a superyacht, but multiple superyachts. The less you use such a yacht, the cooler it is to have one. Yes, really.
Let's not even mention the painting for $450m which was of questionable provenance.
People need to wake up. £128m is nothing whatsoever. $450m isnt either these days. The scandal isn't what was spent, but how on earth the wealth was acquired in order to even make the purchase on something like that on a whim, as you and I may buy a four pack of Fosters.
It's no good getting on high horses, because anyone and I do mean anyone, if offered a golden goose of £128m uncapped bonus, would take it. The exception being Putin and a few other world leaders, whos wealth far exceeds that anyway. Would they admit to it, like hell they would! Neither would you, dear reader!
You don't choose to become head of state for a country for the official salary, lets face it. You'd also never be allowed to forget someone "backed" you. They didn't back you for no reward or because you're a good person, either.
How to sort this out? Not a clue. Perhaps I should take a HND in poltitics and apply for Damien Greens job. If I wanted a mindless job to do, looking at porn all day as a secretary of state sounds less boring than pushing trolleys.
