Pro-choice protestors outside the University of Texas. (File Photo) Photograph: Getty Images
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What the hell actually happened in Texas last night?

Chaos and confusion in the Capitol.

If you don't know what's happening in Austin right now, then chances are you haven't opened Twitter in the last few hours. The internet practically exploded last night, as protesters in the public gallery of the Texas State Senate unleashed a pandemonium of screaming in support of the heroic Wendy Davis, a state senator who was on her feet speaking for ten hours. Davis had been working to filibuster a particularly horrific anti-abortion bill which would limit access to abortion-causing pills and reduce the number of clinics in the state effectively to just five.

After a chaotic few hours of waiting, it now looks certain that the bill, known as SB5, has indeed been killed – and by a matter of moments. The official record of the vote is that it took place at 12:03 – three minutes past the time when the special session closed. Under Texas law, that means it didn't pass.

If this sounds like a bit of a procedural drama, it was. But it was an extremely dramatic one, especially for the last fifteen minutes, and if there's anything the internet loves, it's a good melodrama – just look at the tweets-per-minute data of the event.

Republicans in the chamber at first claimed victory, and the Associated Press reported that the vote had passed. But the internet raised a hue and cry: when the result was first posted, the date-stamp was today's; it was quickly changed, but not fast enough that the internet missed it. The two screencaps are here.

The senators were recalled to the chamber for an emergency caucus, and the screen-caps above were shown in the  chamber. Moments ago, after an agonisingly long discussion, the Lt. Governor of Texas, David Dewhurst, announced that the vote had been out of time and invalid – the filibuster was successful. Few people have seen politics this electrifying in living memory. More than 170 thousand people were watching the live-stream of the chamber by midnight, despite the fact that it was the middle of the night on the east coast.

This is the moment when, with fifteen minutes to go before midnight, Davis' colleague, senator Leticia Van De Putte, struggling to be heard, asked what a female senator had to do to be heard over her male colleagues; causing the cheering to begin from the public gallery. The cheering continued, drowning out the attempts of the chamber to vote, until after midnight.

A filibuster is famous for being at the heart of some of the most exciting moments of US political history. It is when a politician attempts to run out the clock on a debate, by speaking for a prolonged amount of time in order to prevent a vote on a particular topic. In Washington today, however, moments these are rare. Just the threat of a filibuster – like that of a Presidential veto – is usually enough to upset the course of a bill these days, though earlier this year libertarian Senator Rand Paul filibustered for thirteen hours to protest about the President's drone policies.

So what happens next? Once the confusion calms down – this was the scene inside the Senate chamber just a few moments before the emergency session announced that the bill had not passed – Republicans may try to mount a legal challenge. Some supporters of SB5 are already saying that they will try to re-introduce the bill at the next special senate. The democratic body of Texas was overruled last night not by debate or campaigning, or even, in the end, by the heroic Senator Davis, but by a grass-roots of people in the public gallery. It was not politics by the books; it was politics at its most raw, and the Republicans will respond.

The exciting part is probably over. But it has been an unforgettable night.

Nicky Woolf is a writer for the Guardian based in the US. He tweets @NickyWoolf.

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I was wrong about Help to Buy - but I'm still glad it's gone

As a mortgage journalist in 2013, I was deeply sceptical of the guarantee scheme. 

If you just read the headlines about Help to Buy, you could be under the impression that Theresa May has just axed an important scheme for first-time buyers. If you're on the left, you might conclude that she is on a mission to make life worse for ordinary working people. If you just enjoy blue-on-blue action, it's a swipe at the Chancellor she sacked, George Osborne.

Except it's none of those things. Help to Buy mortgage guarantee scheme is a policy that actually worked pretty well - despite the concerns of financial journalists including me - and has served its purpose.

When Osborne first announced Help to Buy in 2013, it was controversial. Mortgage journalists, such as I was at the time, were still mopping up news from the financial crisis. We were still writing up reports about the toxic loan books that had brought the banks crashing down. The idea of the Government promising to bail out mortgage borrowers seemed the height of recklessness.

But the Government always intended Help to Buy mortgage guarantee to act as a stimulus, not a long-term solution. From the beginning, it had an end date - 31 December 2016. The idea was to encourage big banks to start lending again.

So far, the record of Help to Buy has been pretty good. A first-time buyer in 2013 with a 5 per cent deposit had 56 mortgage products to choose from - not much when you consider some of those products would have been ridiculously expensive or would come with many strings attached. By 2016, according to Moneyfacts, first-time buyers had 271 products to choose from, nearly a five-fold increase

Over the same period, financial regulators have introduced much tougher mortgage affordability rules. First-time buyers can be expected to be interrogated about their income, their little luxuries and how they would cope if interest rates rose (contrary to our expectations in 2013, the Bank of England base rate has actually fallen). 

A criticism that still rings true, however, is that the mortgage guarantee scheme only helps boost demand for properties, while doing nothing about the lack of housing supply. Unlike its sister scheme, the Help to Buy equity loan scheme, there is no incentive for property companies to build more homes. According to FullFact, there were just 112,000 homes being built in England and Wales in 2010. By 2015, that had increased, but only to a mere 149,000.

This lack of supply helps to prop up house prices - one of the factors making it so difficult to get on the housing ladder in the first place. In July, the average house price in England was £233,000. This means a first-time buyer with a 5 per cent deposit of £11,650 would still need to be earning nearly £50,000 to meet most mortgage affordability criteria. In other words, the Help to Buy mortgage guarantee is targeted squarely at the middle class.

The Government plans to maintain the Help to Buy equity loan scheme, which is restricted to new builds, and the Help to Buy ISA, which rewards savers at a time of low interest rates. As for Help to Buy mortgage guarantee, the scheme may be dead, but so long as high street banks are offering 95 per cent mortgages, its effects are still with us.