Housing Market: Difference between revisions

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One of the ways the first time buyers could move up the ladder family assets becoming available as the older generation died. This wealth staying in the family was very important to those who were not wealthy as it provided a large boost to their financial prospects. One of the biggest assets has always been property. This has been particularly important when a generation could move up the housing ladder and accordingly create a valuable asset to pass on to family members.

The government has began to target this asset with:

* The structure of care homes means that families are having to fund the elderly family members care

* Services like care in the home being cash strapped causing families to cover the gap

See the section [[Healthcare - Care Homes]] for more detail on the structure and subsequent financial failure of care homes.

The Conservative party also intended to make the families of those requiring care to pay from the value of their house. The plan being that the family could retain £100,000 of the value of the property. This would have meant once costs of sale were taken into account, it was likely that families would see the asset stripped. They backed down on this policy due to a negative public reaction. This is a completely unnecessay measure as the pension pot has sufficient funds to set up a decent and caring system. Cynically you could say it was a method of moving houses into the financial investment market to provide properties for their portfolio which would be broken down into smaller units. See the section [[Pensions - Conservative Impact|Pensions]] to see why elderly needs can be fully funded.

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 One of the ways the first time buyers could move up the ladder family assets becoming available as the older generation died. This wealth staying in the family was very important to those who were not wealthy as it provided a large boost to their financial prospects. One of the biggest assets has always been property. This has been particularly important when a generation could move up the housing ladder and accordingly create a valuable asset to pass on to family members.
 The government has began to target this asset with:
 * The structure of care homes means that families are having to fund the elderly family members care
 * Services like care in the home being cash strapped causing families to cover the gap
 See the section [[Healthcare - Care Homes]] for more detail on the structure and subsequent financial failure of care homes.
+The Conservative party also intended to make the families of those requiring care to pay from the value of their house. The plan being that the family could retain £100,000 of the value of the property. This would have meant once costs of sale were taken into account, it was likely that families would see the asset stripped. They backed down on this policy due to a negative public reaction. This is a completely unnecessay measure as the pension pot has sufficient funds to set up a decent and caring system. Cynically you could say it was a method of moving houses into the financial investment market to provide properties for their portfolio which would be broken down into smaller units. See the section [[Pensions - Conservative Impact|Pensions]] to see why elderly needs can be fully funded.
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