Loans For Green Homes – the next Housing Bubble?
Mar 2nd, 2010 | By Keelan Balderson | Category: Environment & Climate, Featured Articles, PoliticsThere are no signs that the climate change environmental alarmism is slowing down, as the UK government have stepped up measures to tackle carbon emissions by giving loans to homeowners in order to go “green”.
The claim is that these “green loans” will be spread over such a long period of time that the savings made by using energy efficient technology such as solar panels will outweigh the initial cost of installing them.
The government’s grand plan is to cut greenhouse gas emissions from housing by 29% by the end of the decade, despite mounting evidence that humans have little affect on climate and a series of scandals going back to the leaked climategate emails suggest those in control of the data are exaggerating and manipulating it in favor of the c02 theory.
Which ever side of the debate you fall on, accepting a loan is not something to be taken on lightly. We are only just emerging from perhaps the biggest housing crash in history, linked directly to mortgage loans. Why would anyone then want to take out a new loan to conform to the government’s idea of saving the planet?
As reported in the Independent:
With people moving house on average every nine to 12 years, the payback period may not be long enough to allow people to pay back the loans at a rate where they save more than they spend…So legislation will be introduced to allow the green loans to be tied to the property instead of the person who takes it out.
In essence this forces home buyers to take on the scheme should it be attached to the house they wish to purchase. If there’s a poor uptake like there is with similar schemes abroad one can imagine a scenario where sellers can’t get rid of their home because nobody wants to take on the green loan.
As reported in the Telegraph:
Gary Smith, President of the National Association of Estate Agents, said it would make buying and selling houses even more difficult as the country comes out of recession.
“I think it could have a detrimental effect on the housing market. Just the principle of attaching a loan to the property complicates things unnecessarily and it interferes with the free market value of the house,” he said.
Under the plans, some six million homes will be insulated by 2011, all lofts and cavity walls where it is practical to do so will be insulated by 2015 and seven million “eco-upgrades” will be offered to householders by 2020.
If you are a skeptic you will not only be forced to adopt the scheme when buying a house that was previously attached to a loan, but ALL UK homes will have “smart meters” installed by 2020, so a watchful eye can keep track of your energy efficiency.
Not many people predicted the housing bubble and not many people predicted the banking system failure. One has to tread with caution and ponder the idea that this is just another bubble that could go wrong and collapse in the future, once again leaving the tax payer to pick up the tab. Do we really trust out government?
The man behind the scheme is Ed Miliband who obviously has ideological investment (and perhaps other investments?) in this creeping fascist green movement. He only just declared war on skeptics stating, “There are a whole variety of people who are skeptical, but who they are is less important than what they are saying, and what they are saying is profoundly dangerous. Everything we know about life is that we should obey the precautionary principle; to take what the skeptics say seriously would be a profound risk.”
The precautionary measure indeed, so how about we make sure the science is truly settled and that nothing bad will come of this new loan scheme instead of jumping in head strong?
Australia’s implementation of a similar scheme has met with serious problems. Mainly in the area of creating new jobs. The media always touts this idea of “new green jobs” but as reported by News.com.au:
Many assessors who paid $3000 for qualifications and insurance will be jobless before they have done their first energy audit.
It will be interesting to see who assesses the British homes, what level of skill they will have and where the money comes from for them.
It seems whether we like it or not the agenda of all major political parties in the UK is to go all out with the alleged climate change problem. Lets hope they at least get it right and it doesn’t all end up being based on a lie.
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