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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off." Which equals a 1 or 2% drop on expected price, not exactly a crash... | |||
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"About time. " Well that really depends why the price is falling. | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash..." But a possible precursor to one. | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash..." £150k is a lot more than 1 or 2 percent | |||
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"I have never understood why fast rising house prices are supposed to be such a good thing. Say someone bought a house in 1979 for £40k and it is now valued at £400k. If they sell it, they can only buy another house of similar size/quality in the same area. So what's the big deal? Rising prices only freeze out first time buyers and those at the lower end of the market. Unless you move somewhere where the prices are significantly lower, such as moving from London to Scotland or the North of England...or to rural America. " This is true but, whilst continuously rising house prices above wage inflation is both unsustainable and socially destabilising, before we overly celebrate this decline we need to ask why. If it's because of a lack of confidence in Britain and the British economy post BREXIT and that lack of confidence is born out by events then we could be looking at a lot more social destabilisation than that caused by high house prices. | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... £150k is a lot more than 1 or 2 percent " I was wondering how much these properties were originally. | |||
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"I have never understood why fast rising house prices are supposed to be such a good thing. Say someone bought a house in 1979 for £40k and it is now valued at £400k. If they sell it, they can only buy another house of similar size/quality in the same area. So what's the big deal? Rising prices only freeze out first time buyers and those at the lower end of the market. Unless you move somewhere where the prices are significantly lower, such as moving from London to Scotland or the North of England...or to rural America. This is true but, whilst continuously rising house prices above wage inflation is both unsustainable and socially destabilising, before we overly celebrate this decline we need to ask why. If it's because of a lack of confidence in Britain and the British economy post BREXIT and that lack of confidence is born out by events then we could be looking at a lot more social destabilisation than that caused by high house prices." I've seen evidence of a number of sales halted with the potential buyer asking for lower price as they've heard that prices are falling. The London market needs adjustment. However, I have also seen evidence of interest in non commercial property being potentially more interesting to overseas buyers as their money gets them more now than it did five weeks ago. | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly." Can't agree with this whatsoever. Who would decide on the cap? If you look around the country, especially cities, different areas become more desirable so are you saying to the people that live there sorry you'll never have a chance of making money on your property? | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means." It's never worked well anywhere it's been tried. It just leads to less mobility and makes it harder to get on the ladder as well as worst maintained properties. We need to build more, ban estate agents getting paid as a % of the deal and stop stupid things like 40 year mortgages. In this country, newts and bats hold up a significant amount of building projects and people use public transport that gets so overheated it would be illegal to transport cattle in. Need to get priorities straight. | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means." Price control seldom works well and is extremely difficult to enforce; there are many ways of making off book payments. Far better to actually tackle the the problem head on and start building enough homes, both private and social, to meet the demand. | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... £150k is a lot more than 1 or 2 percent " If we don't know the selling price we can't calculate the % reduction. if 150 000 is 2% then 75 000 is 1% so the house would have cost 750 000 to start.... Seems about right to me. | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means. Price control seldom works well and is extremely difficult to enforce; there are many ways of making off book payments. Far better to actually tackle the the problem head on and start building enough homes, both private and social, to meet the demand." Tackling problems at their source instead of patch work regulation on top - now there's an idea!!! | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means. It's never worked well anywhere it's been tried. It just leads to less mobility and makes it harder to get on the ladder as well as worst maintained properties. We need to build more, ban estate agents getting paid as a % of the deal and stop stupid things like 40 year mortgages. In this country, newts and bats hold up a significant amount of building projects and people use public transport that gets so overheated it would be illegal to transport cattle in. Need to get priorities straight. " Priorities are straight in regards to newts and bats.houses shouldn't be built where they are. | |||
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"One property builder in London,not sure if it's Barrats or Wimpey advertises its new builds in China,because they pay higher prices. If they are moving over here to work and generate money for the country that's fine by me. If the properties are left empty,just as an investment,I don't agree with it. There are people who work in London who can't afford to live there and having to pay a fortune to commute. The average house price in central London is over 1 million. " If we're going to regulate anything I do think it should be the % of properties in an area not occupied by their owner. I'm as capitalist as Adam Smith but there's an obvious problem with a few "investors" basically controlling the market in certain areas - basically a monopoly | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means. Price control seldom works well and is extremely difficult to enforce; there are many ways of making off book payments. Far better to actually tackle the the problem head on and start building enough homes, both private and social, to meet the demand." Nice idea ..except who is going to pay for the social housing ?as the thatcher government wouldn't let local councils use the money made from selling off of all social housing in the 80's ..instead local councils used IT to keep spending under control ...also the nimby syndrome stops councils building social housing .. | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... £150k is a lot more than 1 or 2 percent If we don't know the selling price we can't calculate the % reduction. if 150 000 is 2% then 75 000 is 1% so the house would have cost 750 000 to start.... Seems about right to me. " Check your zeroes. If 75,000 is 1% then 75,000 x 100 is full price. | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means. Price control seldom works well and is extremely difficult to enforce; there are many ways of making off book payments. Far better to actually tackle the the problem head on and start building enough homes, both private and social, to meet the demand. Nice idea ..except who is going to pay for the social housing ?as the thatcher government wouldn't let local councils use the money made from selling off of all social housing in the 80's ..instead local councils used IT to keep spending under control ...also the nimby syndrome stops councils building social housing .." It's paid for by the councils selling off land to developers. For that right to buy they have to build some affordable housing for council tenants. It's more expensive than council rents but still classed as affordable. If people still can't afford it they can claim housing benefit and council tax benefits,or whatever it's now called. | |||
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"One property builder in London,not sure if it's Barrats or Wimpey advertises its new builds in China,because they pay higher prices. If they are moving over here to work and generate money for the country that's fine by me. If the properties are left empty,just as an investment,I don't agree with it. There are people who work in London who can't afford to live there and having to pay a fortune to commute. The average house price in central London is over 1 million. If we're going to regulate anything I do think it should be the % of properties in an area not occupied by their owner. I'm as capitalist as Adam Smith but there's an obvious problem with a few "investors" basically controlling the market in certain areas - basically a monopoly" And sitting empty meaning no one living there,working in the UK and paying taxes or spending money here. | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means. Price control seldom works well and is extremely difficult to enforce; there are many ways of making off book payments. Far better to actually tackle the the problem head on and start building enough homes, both private and social, to meet the demand. Nice idea ..except who is going to pay for the social housing ?as the thatcher government wouldn't let local councils use the money made from selling off of all social housing in the 80's ..instead local councils used IT to keep spending under control ...also the nimby syndrome stops councils building social housing .. It's paid for by the councils selling off land to developers. For that right to buy they have to build some affordable housing for council tenants. It's more expensive than council rents but still classed as affordable. If people still can't afford it they can claim housing benefit and council tax benefits,or whatever it's now called. " As previously stated the nimby's stop that one and you have to sell a fair bit of land to cover the cost of major social house building ..so that would be the rate payer in that area funding it .. | |||
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"I still cannot understand why there are streets full of derelict houses. If companies weren't such capitalists they would / should redevelop these and restore areas to their former glories. Problem solved and affordable housing. " There are loads of empty properties around us that were fomerly commercial places that could be easily converted to residential, I've no idea why they aren't. They just sit empty looking sad. | |||
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"Not round my way in London, still 50 people at every viewing " London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... £150k is a lot more than 1 or 2 percent If we don't know the selling price we can't calculate the % reduction. if 150 000 is 2% then 75 000 is 1% so the house would have cost 750 000 to start.... Seems about right to me. " I think you need to do your maths again 750,000 @ 75,000 is 10%.... 7.5m is 1% @ 75,000  | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! " When brexit hits you will be sitting on 20% negative equity if you buy now  | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! When brexit hits you will be sitting on 20% negative equity if you buy now "Not likely imho. Too much demand and not enough supply. | |||
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"One property builder in London,not sure if it's Barrats or Wimpey advertises its new builds in China,because they pay higher prices. If they are moving over here to work and generate money for the country that's fine by me. If the properties are left empty,just as an investment,I don't agree with it. There are people who work in London who can't afford to live there and having to pay a fortune to commute. The average house price in central London is over 1 million. If we're going to regulate anything I do think it should be the % of properties in an area not occupied by their owner. I'm as capitalist as Adam Smith but there's an obvious problem with a few "investors" basically controlling the market in certain areas - basically a monopoly"  [Me agreeing with you again  ]
It's a growing problem in London.
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... But a possible precursor to one." Prices in London are grossly over-inflated anyway due to self fulfilled property speculation. So, a fall in prices should be welcomed as "normal people" would be able to afford them again. As for so called experts who prattle on about lost revenue to the tax man conveniently forget that the multi million pound properties, bought for price increase speculation, are bought by off shore accounts and thus don't pay stamp duty and when sold don't pay capital gains tax for the same reason. Rant over, off to clean the chicken coups out, thinks, they'd probably sell for half a mill each in trendy Islington as delux pied-a-terres  | |||
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"I still cannot understand why there are streets full of derelict houses. If companies weren't such capitalists they would / should redevelop these and restore areas to their former glories. Problem solved and affordable housing. There are loads of empty properties around us that were fomerly commercial places that could be easily converted to residential, I've no idea why they aren't. They just sit empty looking sad." There are sometimes tax benefits for leaving them like that. Sometimes it's land-banking and waiting for the right market conditions for that owner and developer and sometimes it's issues like complicated probates. Whatever it is, we need something to ensure that the private ownership can be challenged to release the property for housing development. The newts and bats get to live in peace then. We have enough land and empty property to meet the housing need. We don't have enough will to challenge the current systems because that means challenging private ownership profit making. Yet. | |||
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"One property builder in London,not sure if it's Barrats or Wimpey advertises its new builds in China,because they pay higher prices. If they are moving over here to work and generate money for the country that's fine by me. If the properties are left empty,just as an investment,I don't agree with it. There are people who work in London who can't afford to live there and having to pay a fortune to commute. The average house price in central London is over 1 million. If we're going to regulate anything I do think it should be the % of properties in an area not occupied by their owner. I'm as capitalist as Adam Smith but there's an obvious problem with a few "investors" basically controlling the market in certain areas - basically a monopoly [Me agreeing with you again ]
It's a growing problem in London.
"You see it all the time. You know how much the average wage is in a local area and you know mortgage companies lend ~4x earnings. So multiply the figures together and you should get the value of the average house. If you don't, then that means non- local / non-residents are inflating the market. Bubbles are not a good thing. | |||
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"There should be a local housing cap - both on sales and rental values. Eg 1 bed flat, can be sold up to £150,000 etc Figures to be reviewed every decade. That might fuck with the minds of capitalists and profiteers, but something needs to be done. It is getting silly. I earn a decent amount, I have reasonable savings, but if I was to look at a mortgage now, I'd struggle to buy any more than a 2 bed terrace. In some areas on the outskirts of Manchester, I'd not be able to afford even that and still live within my means." What is wrong with a two bed terrace? | |||
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"Nothing wrong with a 2 bed terrace Other than as with all housing, they are becoming too pricey and unattainable to many " All housing is expensive. It always has been. More so in some areas than others. You can afford a two bed terrace. I live in a terrace. A lifestyle choice that I was happy to accept. I don't want to sound like a fascist barsteward but that is the market and the effect of capitalism. | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ? "It is a market. If that is what you want, look around. Usually, most people have to compromise. Or are you expecting some weird market cure? A communist intervention? I would like a detached mansion with 7 bedrooms, a cinema room and underground parking for £10,000 but ... | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ? "Yes we can, £140,000 for 3 bedroom semi, double glazing, not on main road, 3 mins to walk to the tram stop and 22 mins to city centre | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ?
It is a market.
If that is what you want, look around.
Usually, most people have to compromise. Or are you expecting some weird market cure? A communist intervention?
I would like a detached mansion with 7 bedrooms, a cinema room and underground parking for £10,000 but ..."A big house would be a waste 2 beds is fine. Outside space for the pooch is a must. Or I might as well stay where I am. | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : try the great northern property auction Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ? " | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ?
Yes we can, £140,000 for 3 bedroom semi, double glazing, not on main road, 3 mins to walk to the tram stop and 22 mins to city centre"Funnily enough we looked in Wythenshawe about 2/3 months ago Need to save for another 12 months or so for where I'd want a deposit to be though cos I want a 15 year mortgage maximum. | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ?
Yes we can, £140,000 for 3 bedroom semi, double glazing, not on main road, 3 mins to walk to the tram stop and 22 mins to city centre
Funnily enough we looked in Wythenshawe about 2/3 months ago
Need to save for another 12 months or so for where I'd want a deposit to be though cos I want a 15 year mortgage maximum."Then you are very lucky. Many people will never be in that position. | |||
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" Not ex local authority stock. A good solid Victorian job. Could we find one ?
Yes we can, £140,000 for 3 bedroom semi, double glazing, not on main road, 3 mins to walk to the tram stop and 22 mins to city centre
Funnily enough we looked in Wythenshawe about 2/3 months ago
Need to save for another 12 months or so for where I'd want a deposit to be though cos I want a 15 year mortgage maximum."There's the risk that prices don't go down or the gamble that they do. Why not take out a mortgage where you can pay off more so that the effect is a 15 year mortgage? | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ?
It is a market.
If that is what you want, look around.
Usually, most people have to compromise. Or are you expecting some weird market cure? A communist intervention?
I would like a detached mansion with 7 bedrooms, a cinema room and underground parking for £10,000 but ...
A big house would be a waste
2 beds is fine. Outside space for the pooch is a must. Or I might as well stay where I am.
"You wouldn't even get a studio flat for that money around here. Sounds like you'll be staying put. | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ?
Yes we can, £140,000 for 3 bedroom semi, double glazing, not on main road, 3 mins to walk to the tram stop and 22 mins to city centre
Funnily enough we looked in Wythenshawe about 2/3 months ago
Need to save for another 12 months or so for where I'd want a deposit to be though cos I want a 15 year mortgage maximum.
Then you are very lucky. Many people will never be in that position."That's more to do with my age than anything. 15 years would put me just over the 60 mark and tbh I wouldn't want the worry of a mortgage from that point on. It is my own fault. I should have gotten straight back on the property ladder when I moved out from my marital home but hindsight is a great thing and 15/16 years on, I'm still renting. I have no kids so no one to leave property to. My idea was rent, save up and piss off abroad when I was 60. Now I have met someone else, I want them to have something when I'm no longer here (there is a good age gap) so buying a house is back on the cards and I can't help thinking it's maybe too late, which makes me feel like a twat  | |||
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"I still cannot understand why there are streets full of derelict houses. If companies weren't such capitalists they would / should redevelop these and restore areas to their former glories. Problem solved and affordable housing. " Because no one wants to live there,either because there are no jobs or the area is a high crime area. | |||
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"I still cannot understand why there are streets full of derelict houses. If companies weren't such capitalists they would / should redevelop these and restore areas to their former glories. Problem solved and affordable housing. Because no one wants to live there,either because there are no jobs or the area is a high crime area." That's always true. Houses on this street at over £300k for 2 bed terraced and there's a big assed site (used to be a garage) that's been dormant for years. I could easily fit 3-6 houses on it... | |||
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" Funnily enough we looked in Wythenshawe about 2/3 months ago Need to save for another 12 months or so for where I'd want a deposit to be though cos I want a 15 year mortgage maximum. Then you are very lucky. Many people will never be in that position. That's more to do with my age than anything. 15 years would put me just over the 60 mark and tbh I wouldn't want the worry of a mortgage from that point on. It is my own fault. I should have gotten straight back on the property ladder when I moved out from my marital home but hindsight is a great thing and 15/16 years on, I'm still renting. I have no kids so no one to leave property to. My idea was rent, save up and piss off abroad when I was 60. Now I have met someone else, I want them to have something when I'm no longer here (there is a good age gap) so buying a house is back on the cards and I can't help thinking it's maybe too late, which makes me feel like a twat "Don't feel like a twat. Feel like someone who has made a new decision for a new future. Life can turn on a sixpence. I wish I had invested in extending my home when I had the chance but I would now be struggling if I had. Live forward not backwards. | |||
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"I was offered a job in London two years ago. The salary was 30k, a good wage for me, but when I stopped laughing and asked the guy how I was expected to rent a property in London and live on 30k he put the phone down. It's about time property prices dropped and not just in London. " In London you are expected to rent a room in a shared house when you earn £30k... I'd rather live in a lion enclosure than with other humans that I'm not related to | |||
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"I was offered a job in London two years ago. The salary was 30k, a good wage for me, but when I stopped laughing and asked the guy how I was expected to rent a property in London and live on 30k he put the phone down. It's about time property prices dropped and not just in London. " £30k is still a decent salary in London. Most people don't earn that much. It's not just rents that are expensive in London. It's one of the reason I didn't move out of London when I was offered work elsewhere - it would have been impossible to come back. | |||
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"I was offered a job in London two years ago. The salary was 30k, a good wage for me, but when I stopped laughing and asked the guy how I was expected to rent a property in London and live on 30k he put the phone down. It's about time property prices dropped and not just in London. £30k is still a decent salary in London. Most people don't earn that much. It's not just rents that are expensive in London. It's one of the reason I didn't move out of London when I was offered work elsewhere - it would have been impossible to come back. " Average salary in London is £35k, city is £48k compared to UK average of £27k | |||
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"I was offered a job in London two years ago. The salary was 30k, a good wage for me, but when I stopped laughing and asked the guy how I was expected to rent a property in London and live on 30k he put the phone down. It's about time property prices dropped and not just in London. £30k is still a decent salary in London. Most people don't earn that much. It's not just rents that are expensive in London. It's one of the reason I didn't move out of London when I was offered work elsewhere - it would have been impossible to come back. Average salary in London is £35k, city is £48k compared to UK average of £27k" The average is skewed by the relatively large numbers of people earning close to and over a million. It is the average but there and millions of jobs not paying that or anywhere near it in this city. | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! " Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free. | |||
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"I was offered a job in London two years ago. The salary was 30k, a good wage for me, but when I stopped laughing and asked the guy how I was expected to rent a property in London and live on 30k he put the phone down. It's about time property prices dropped and not just in London. £30k is still a decent salary in London. Most people don't earn that much. It's not just rents that are expensive in London. It's one of the reason I didn't move out of London when I was offered work elsewhere - it would have been impossible to come back. Average salary in London is £35k, city is £48k compared to UK average of £27k The average is skewed by the relatively large numbers of people earning close to and over a million. It is the average but there and millions of jobs not paying that or anywhere near it in this city. " No, those are median figures not the mean! | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free. "RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4) | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free.
RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4) "I was looking there as I may want to work part time and the university and hospital are nearby and my daughter is in RG30. Still pricey for what you're getting. Maybe I can haggle for cash. | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free.
RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4)
I was looking there as I may want to work part time and the university and hospital are nearby and my daughter is in RG30. Still pricey for what you're getting. Maybe I can haggle for cash.
"You can get 3 bedrooms for £300k, that's as good as you're getting unless you want to live on the set of the Jeremy Kyle show in West reading (shudder) | |||
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"OK budding estate agents of Fab A little task for you Find me a 2 bed terrace within 10 miles of Manchester City Centre My budget is £150,000 incl fees I would like : Don't be to picky will u Doubled glazed Central Heating 2 double bedrooms A bathroom upstairs with bath AND shower (shower over bath is fine) Seperate living room and kitchen Or 2 seperate reception rooms Or A kitchen big enough for a small dining table A walled garden. Not fenced, walled. Not a yard, a garden Not a renovation or a project cos I am crap at DIY Near to good public transport connections No more than 30-45 minutes by public transport (bus) into the City Centre Not on a street with terraces on both sides Not on a main road Set up from the road or back from the road (hate people walking within a foot of the front window) Not ex local authority stock. A good solid Victorian job. Could we find one ? " | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free.
RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4)
I was looking there as I may want to work part time and the university and hospital are nearby and my daughter is in RG30. Still pricey for what you're getting. Maybe I can haggle for cash.
You can get 3 bedrooms for £300k, that's as good as you're getting unless you want to live on the set of the Jeremy Kyle show in West reading (shudder)"so youre bucking the trend Another study from the Royal Institution of Chartered Surveyors says house prices, which were down in June, are expected to drop by another 26 percent over the next three months, as potential buyers put off plans amid uncertainty. This is the most negative reading since 1998. The number of new buyers making enquiries also fell by 36 percent in June, the lowest reading since June of 2008, according to the study. The average discount on the original asking price of a UK property in May was over £25,000 – up nearly £4,000 compared with January. | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free.
RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4)
I was looking there as I may want to work part time and the university and hospital are nearby and my daughter is in RG30. Still pricey for what you're getting. Maybe I can haggle for cash.
You can get 3 bedrooms for £300k, that's as good as you're getting unless you want to live on the set of the Jeremy Kyle show in West reading (shudder)
so youre bucking the trend
Another study from the Royal Institution of Chartered Surveyors says house prices, which were down in June, are expected to drop by another 26 percent over the next three months, as potential buyers put off plans amid uncertainty.
This is the most negative reading since 1998.
The number of new buyers making enquiries also fell by 36 percent in June, the lowest reading since June of 2008, according to the study.
The average discount on the original asking price of a UK property in May was over £25,000 – up nearly £4,000 compared with January."I'll happily make a bet with you that they don't fall 26% this year? | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free.
RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4)
I was looking there as I may want to work part time and the university and hospital are nearby and my daughter is in RG30. Still pricey for what you're getting. Maybe I can haggle for cash.
You can get 3 bedrooms for £300k, that's as good as you're getting unless you want to live on the set of the Jeremy Kyle show in West reading (shudder)
so youre bucking the trend
Another study from the Royal Institution of Chartered Surveyors says house prices, which were down in June, are expected to drop by another 26 percent over the next three months, as potential buyers put off plans amid uncertainty.
This is the most negative reading since 1998.
The number of new buyers making enquiries also fell by 36 percent in June, the lowest reading since June of 2008, according to the study.
The average discount on the original asking price of a UK property in May was over £25,000 – up nearly £4,000 compared with January.
I'll happily make a bet with you that they don't fall 26% this year? "26% lmfao anyone that believes that bullshit still believes that Brexit means decades of recession Cummon people wake up and use some common sense ffs instead of acting like sheep and doing as the money men want you to do | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free.
RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4)
I was looking there as I may want to work part time and the university and hospital are nearby and my daughter is in RG30. Still pricey for what you're getting. Maybe I can haggle for cash.
You can get 3 bedrooms for £300k, that's as good as you're getting unless you want to live on the set of the Jeremy Kyle show in West reading (shudder)
so youre bucking the trend
Another study from the Royal Institution of Chartered Surveyors says house prices, which were down in June, are expected to drop by another 26 percent over the next three months, as potential buyers put off plans amid uncertainty.
This is the most negative reading since 1998.
The number of new buyers making enquiries also fell by 36 percent in June, the lowest reading since June of 2008, according to the study.
The average discount on the original asking price of a UK property in May was over £25,000 – up nearly £4,000 compared with January.
I'll happily make a bet with you that they don't fall 26% this year?
26% lmfao anyone that believes that bullshit still believes that Brexit means decades of recession
Cummon people wake up and use some common sense ffs instead of acting like sheep and doing as the money men want you to do "Or just stick your head in the sand and ignore any information, indication or expert that says anything other than what you've decided is right and want to believe. It's the BREXIT way. Personally I would expect a definite slowing and possibly even a short term reversal in house price inflation due to the uncertainties that BREXIT has and will continue to create but, unless the fundamentals of the supply and demand of and for houses is changed, house prices in most areas of the UK will continue to rice in the medium to long term whether BREXIT actually happens or not. The reality is is that house price deflation on any long term bases would probably cause an even bigger loss of confidence in the British economy by the British themselves than even BREXIT is causing. Which really leaves us all with a long term dilemma. We know house prices can't continue to rise above wages indefinitely without causing social discogesion but long-term falling house prices, or even stagnant house prices, would have a serious impact on peoples willingness to spend and likely lead to reduced economic activity and long term recession. Maybe if we put our collective minds to sorting out this real problem rather wasting time on a BREXIT that will deliver nothing and solve nothing we might eventually actually achieve something worthwhile. | |||
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"Not round my way in London, still 50 people at every viewing London is it's own market! Outside of London we've seen a 1-3% dip in the south east - happy days as we're buying! Can't say I've noticed. I'm looking in the RG postcode and the houses are £300k and rising and they look like social housing estates. I may have to change my search area to be mortgage free.
RG1 has a ridiculous circle around the train station for 1 mile that has silly prices, go outside that towards the university and you get better value for money (RG4)
I was looking there as I may want to work part time and the university and hospital are nearby and my daughter is in RG30. Still pricey for what you're getting. Maybe I can haggle for cash.
You can get 3 bedrooms for £300k, that's as good as you're getting unless you want to live on the set of the Jeremy Kyle show in West reading (shudder)
so youre bucking the trend
Another study from the Royal Institution of Chartered Surveyors says house prices, which were down in June, are expected to drop by another 26 percent over the next three months, as potential buyers put off plans amid uncertainty.
This is the most negative reading since 1998.
The number of new buyers making enquiries also fell by 36 percent in June, the lowest reading since June of 2008, according to the study.
The average discount on the original asking price of a UK property in May was over £25,000 – up nearly £4,000 compared with January.
I'll happily make a bet with you that they don't fall 26% this year?
26% lmfao anyone that believes that bullshit still believes that Brexit means decades of recession
Cummon people wake up and use some common sense ffs instead of acting like sheep and doing as the money men want you to do
Or just stick your head in the sand and ignore any information, indication or expert that says anything other than what you've decided is right and want to believe. It's the BREXIT way.
Personally I would expect a definite slowing and possibly even a short term reversal in house price inflation due to the uncertainties that BREXIT has and will continue to create but, unless the fundamentals of the supply and demand of and for houses is changed, house prices in most areas of the UK will continue to rice in the medium to long term whether BREXIT actually happens or not.
The reality is is that house price deflation on any long term bases would probably cause an even bigger loss of confidence in the British economy by the British themselves than even BREXIT is causing. Which really leaves us all with a long term dilemma. We know house prices can't continue to rise above wages indefinitely without causing social discogesion but long-term falling house prices, or even stagnant house prices, would have a serious impact on peoples willingness to spend and likely lead to reduced economic activity and long term recession. Maybe if we put our collective minds to sorting out this real problem rather wasting time on a BREXIT that will deliver nothing and solve nothing we might eventually actually achieve something worthwhile."Houses prices are already inflated over wages, we have social discohesion already, no government really wants house prices to fall which is why neither this one, the last or new labour did anything substantial about it. | |||
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"house prices need to come down substantially for ppl to get on the property ladder.the house prices in london for instance are insane.but house prices in most of the uk are way out of reach for first time buyers who have no chance of getting on the property ladder " They're already on their way down...and lots of buyers halting deals and renegotiating much lower prices. | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... But a possible precursor to one." Or it was over priced in the first place. You will see prices normalise over the next month or so. This is not a crash. Supply and demand are at a sale mate. Eventually demand will pickup when people realise that nothing has changed and interest rates are still low. Normalising happens when demand slackens off and can happen in winter months. What happens is that when a seller or estate agent is over zealous with an asking price. The property hangs around. In a market when demand is high some buyers are willing to pay the price asked or more in order to secure the property from competition. Remove competition and negotiations take place. Market trends in recent years has resulted in about price reductions of around 20-35% compared with new instructions so for every five that come on one is too much money. Since brexit this has increased to 30%. Therefore reductions coupled with a reduced SALE price and I stress this will be sold by the papers as a downturn. But in reality asking prices haven't dropped they have settled so if you don't ask the right price you won't get any interest. With regard to OP's comment it could be a flat in Knightsbridge worth £4m therefore negligible and/or overpriced in the first place. | |||
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"house prices need to come down substantially for ppl to get on the property ladder.the house prices in london for instance are insane.but house prices in most of the uk are way out of reach for first time buyers who have no chance of getting on the property ladder They're already on their way down...and lots of buyers halting deals and renegotiating much lower prices." Yes this happening. But not at a great extent. Sometimes you have to question the buyers motivation if they try to do this or pull out. If the seller says no. What does the buyer do pull out out of principal or pay the money. Bearing in mind they have just found the house they want. Would they find a similar property at less money or are they chickens teeth. | |||
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"house prices need to come down substantially for ppl to get on the property ladder.the house prices in london for instance are insane.but house prices in most of the uk are way out of reach for first time buyers who have no chance of getting on the property ladder They're already on their way down...and lots of buyers halting deals and renegotiating much lower prices. Yes this happening. But not at a great extent. Sometimes you have to question the buyers motivation if they try to do this or pull out. If the seller says no. What does the buyer do pull out out of principal or pay the money. Bearing in mind they have just found the house they want. Would they find a similar property at less money or are they chickens teeth. " Having looked at house prices as an investment in derby Birmingham Manchester and Nottingham I'm not sure where you people think these house prices are falling because the simple fact is they arnt and those remainers that predicted it were wrong House prices will NOT fall when there is so much demand and that again is fact | |||
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"house prices need to come down substantially for ppl to get on the property ladder.the house prices in london for instance are insane.but house prices in most of the uk are way out of reach for first time buyers who have no chance of getting on the property ladder They're already on their way down...and lots of buyers halting deals and renegotiating much lower prices." Simply not true If you don't believe me go and research and see an area ( not a single property that was probly overpriced to start with) where prices are falling it's not happening, the big housing crash was a scare tactic by remainers and it hasn't and won't happen | |||
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"I have never understood why fast rising house prices are supposed to be such a good thing. Say someone bought a house in 1979 for £40k and it is now valued at £400k. If they sell it, they can only buy another house of similar size/quality in the same area. So what's the big deal? Rising prices only freeze out first time buyers and those at the lower end of the market. Unless you move somewhere where the prices are significantly lower, such as moving from London to Scotland or the North of England...or to rural America. " It's those that downsize who gain. We get people who sold their terraced house in Hackney for £500,000 buying nice 3 bed semi-detached houses in Norfolk for half the money. Now, many who have used their houses as a pension pot will suffer badly. If the price of houses stagnate people don't move and builders don't stop building. So first time buyers don't benefit anyway. | |||
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"Perhaps it's a sign that houses are more important as things for living in than as an investment. If they rise in value then all well and good, but as soon as that becomes the main driver then the market soon goes out of control." The only people pulling out of deals are landlords who have realised prices won't sky rocket for the next few years. There's still huge demand from people who actually want to live in the house!! | |||
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"The supply and demand bit sounds right but then.... Well last time I looked most people are already living in a house whether it's rented, social or owned... It's not like we're actually short of houses and people are living in tents and hotels. A big problem for first time buyers is there actually competing with older people who are buying to rent, they push the price up meaning that the first time buyers can't get a foot on the ladder and the older folks buying the house and forcing the price up are actually in reality creating their own customers to rent to... The days of rentiers of France are back!!! " Yes but people want to buy to rent because they realise pensions are worth dog shit now. Final salary pensions barely exist anymore and have you seen what the state pension is worth? | |||
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"The supply and demand bit sounds right but then.... Well last time I looked most people are already living in a house whether it's rented, social or owned... It's not like we're actually short of houses and people are living in tents and hotels. A big problem for first time buyers is there actually competing with older people who are buying to rent, they push the price up meaning that the first time buyers can't get a foot on the ladder and the older folks buying the house and forcing the price up are actually in reality creating their own customers to rent to... The days of rentiers of France are back!!! " Your correct people are living in houses already but as families split up youngsters want to leave home and more commonly in London foreigners need housing and that's not including the foreign I beaters that have drove London prices through the roof by buying properties and leaving them empty, London in perticular suffers terrie from foreign investment that starts in Central London and ripples out driving prices up in the whole south east with average 3 bed houses costing over 1/2 mill There's NO property crash it's bullshit the remainers used and failed with | |||
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"I have never understood why fast rising house prices are supposed to be such a good thing. Say someone bought a house in 1979 for £40k and it is now valued at £400k. If they sell it, they can only buy another house of similar size/quality in the same area. So what's the big deal?" I have read this entire thread, and not one person has told the truth. 1/ the answer to your question, directly, is 400 - 40 = £360k ATM machine re-re-re-mortgage ZIRP liar loan look at me with my new BMW every year and 2 x ski-ing holidays etc... *lot* of it going on. 2/ On a short street with 100 houses, that is 360k x 100 = 36 million added to "the economy", in a small town with 1000 short streets, that's 36 billion added to "the economy", or 36 billion to be wiped off, in just one small town. 3/ recurring interest (as in APR rather than a one off hit like 20% VAT) is an EXPONENTIAL function in maths, nobody who does not fully understand this should be allowed to borrow or lend money, nobody borrowing money does understand this. In the great renter vs buyer debate, two things are never mentioned. a/ you are not a buyer if you don't own it, buy a car for 600 quid cash you own it, take HP or a lease you do NOT own it until you make the final payment, same goes for houses, so at a stroke 99% of the "buyers" in the buyers vs renters debate disappear into thin air. b/ every balance sheet has TWO sides, assets AND liabilities, your 300k mortgage on your 350k house is a 300k liability, there is no asset there, the bank owns it until you make the final payment, and the supposed 350k value is thoeretical up until the point the same is actually made and funds transferred, "mark to market" 80% of the "property owning" british population should read up closely on the subject of "indentured servitude".. it is what the future hold for them. | |||
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"I have never understood why fast rising house prices are supposed to be such a good thing. Say someone bought a house in 1979 for £40k and it is now valued at £400k. If they sell it, they can only buy another house of similar size/quality in the same area. So what's the big deal? I have read this entire thread, and not one person has told the truth. 1/ the answer to your question, directly, is 400 - 40 = £360k ATM machine re-re-re-mortgage ZIRP liar loan look at me with my new BMW every year and 2 x ski-ing holidays etc... *lot* of it going on. 2/ On a short street with 100 houses, that is 360k x 100 = 36 million added to "the economy", in a small town with 1000 short streets, that's 36 billion added to "the economy", or 36 billion to be wiped off, in just one small town. 3/ recurring interest (as in APR rather than a one off hit like 20% VAT) is an EXPONENTIAL function in maths, nobody who does not fully understand this should be allowed to borrow or lend money, nobody borrowing money does understand this. In the great renter vs buyer debate, two things are never mentioned. a/ you are not a buyer if you don't own it, buy a car for 600 quid cash you own it, take HP or a lease you do NOT own it until you make the final payment, same goes for houses, so at a stroke 99% of the "buyers" in the buyers vs renters debate disappear into thin air. b/ every balance sheet has TWO sides, assets AND liabilities, your 300k mortgage on your 350k house is a 300k liability, there is no asset there, the bank owns it until you make the final payment, and the supposed 350k value is thoeretical up until the point the same is actually made and funds transferred, "mark to market" 80% of the "property owning" british population should read up closely on the subject of "indentured servitude".. it is what the future hold for them." Not true. The bank lends you the money to buy the house. You are the legal owner and therefore have the right to sell it if you chose. | |||
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" Not true. The bank lends you the money to buy the house. You are the legal owner and therefore have the right to sell it if you chose. " Sigh... If you are the legal owner YOU would hold the deeds and THEY could not foreclose on YOU. You are clearly one of the millions who signs contracts without reading them in full. Credit card debt, same thing goes for it, nobody reads the contracts or understands what they can do to you. | |||
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" Not true. The bank lends you the money to buy the house. You are the legal owner and therefore have the right to sell it if you chose. Sigh... If you are the legal owner YOU would hold the deeds and THEY could not foreclose on YOU. You are clearly one of the millions who signs contracts without reading them in full. Credit card debt, same thing goes for it, nobody reads the contracts or understands what they can do to you." I understand what they can do but it doesn't change the fact that the person is the legal owner not the lender. The house is a security against the debt, that's how they can take it from you. You clearly don't understand the law if you think otherwise and I can't be bother to argue semantics. It's a point of law not an opinion. | |||
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" I understand what they can do but it doesn't change the fact that the person is the legal owner not the lender. The house is a security against the debt, that's how they can take it from you. You clearly don't understand the law if you think otherwise and I can't be bother to argue semantics. It's a point of law not an opinion. " It is clear that one of us does not understand the law.... You are also quite correct that it is a point of law and not an opinion, sadly you are on the wrong side of that one too. I can sell any of my vehicles to you for £1 cash, that is because I own them, and there can be no recourse or consequences from anyone should I decide to sell them for £1 cash each, that is because I own them. I can throw a lighted zippo in my cars and nobody can say a damn thing, (apart from endangering others depending on where I do it) because I own them Try selling the house you claim you own to a relative for £1, the *least* of your worries will be the state chasing you for avoidance of capital gains tax... it is not *your* proprty until you *redeem* the mortgage by making the final payment. The "lien" involved means *you* are liable both for the repayments, and for maintaining the capital value of the property, the *ownership* you think you have is merely a limited form of control, you can sell and redeem the mortgage (and take out a new mortgage on a new property) but you are not allowed to do anything to damage or fail to maintain the asset value of the property, which is held in lien by the mortgagor, which is why THEY hold the deeds, NOT YOU. He who holds the deeds is the owner. Most UK "homeowners" have never even seen a set of property deeds, and would not know a real from a fake if they tripped over it. USA law (currently) is different, there you can throw the keys at the bank and walk away, the lein holder retains posession of the property, here you can throw the keys at the bank and you will still owe the full balance owing. Negative equity here we come. | |||
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"I have never understood why fast rising house prices are supposed to be such a good thing. Say someone bought a house in 1979 for £40k and it is now valued at £400k. If they sell it, they can only buy another house of similar size/quality in the same area. So what's the big deal? I have read this entire thread, and not one person has told the truth. 1/ the answer to your question, directly, is 400 - 40 = £360k ATM machine re-re-re-mortgage ZIRP liar loan look at me with my new BMW every year and 2 x ski-ing holidays etc... *lot* of it going on. 2/ On a short street with 100 houses, that is 360k x 100 = 36 million added to "the economy", in a small town with 1000 short streets, that's 36 billion added to "the economy", or 36 billion to be wiped off, in just one small town. 3/ recurring interest (as in APR rather than a one off hit like 20% VAT) is an EXPONENTIAL function in maths, nobody who does not fully understand this should be allowed to borrow or lend money, nobody borrowing money does understand this. In the great renter vs buyer debate, two things are never mentioned. a/ you are not a buyer if you don't own it, buy a car for 600 quid cash you own it, take HP or a lease you do NOT own it until you make the final payment, same goes for houses, so at a stroke 99% of the "buyers" in the buyers vs renters debate disappear into thin air. b/ every balance sheet has TWO sides, assets AND liabilities, your 300k mortgage on your 350k house is a 300k liability, there is no asset there, the bank owns it until you make the final payment, and the supposed 350k value is thoeretical up until the point the same is actually made and funds transferred, "mark to market" 80% of the "property owning" british population should read up closely on the subject of "indentured servitude".. it is what the future hold for them. Not true. The bank lends you the money to buy the house. You are the legal owner and therefore have the right to sell it if you chose. " And if you don't cover the amount you borrowed you owe money to the mortgage lender. | |||
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" He who holds the deeds is the owner. Most UK "homeowners" have never even seen a set of property deeds, and would not know a real from a fake if they tripped over it. " They are online at land registry and you can view anyone's for £3. It would be a worthwhile investment for you... Also, your comments on assets and liabilities were factually correct but pure conflation. My opinion is that you don't really know what you are talking about. You sound like you are repeating something you were told but haven't really grasped. You probably think the same about me but I'm happy to let other forum members decide for themselves who is taking rubbish. | |||
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"The supply and demand bit sounds right but then.... Well last time I looked most people are already living in a house whether it's rented, social or owned... It's not like we're actually short of houses and people are living in tents and hotels. A big problem for first time buyers is there actually competing with older people who are buying to rent, they push the price up meaning that the first time buyers can't get a foot on the ladder and the older folks buying the house and forcing the price up are actually in reality creating their own customers to rent to... The days of rentiers of France are back!!! Yes but people want to buy to rent because they realise pensions are worth dog shit now. Final salary pensions barely exist anymore and have you seen what the state pension is worth? " . Which brings me back to my old point that I always say.... Interest rates are in effect a measure of productivity and capitalism. If they were 5% then your always chasing the interest which is how you drive productivity, if there 0% you can be a reckless lazy slob and chase the ace! Or the bank balance sheet | |||
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" They are online at land registry and you can view anyone's for £3. It would be a worthwhile investment for you..." Viewing an online facimile is not the same as holding the physical item. It's the same as physical gold vs paper gold, only the phyzz is real. I could care less what anyone else thinks of me on here, my *total* debts and liabilities and credit of all types added together is a big fat zero. This has been a matter of choice for some 30 years now. nobody can knock at my door and demand a damn thing. | |||
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" They are online at land registry and you can view anyone's for £3. It would be a worthwhile investment for you... Viewing an online facimile is not the same as holding the physical item. It's the same as physical gold vs paper gold, only the phyzz is real. I could care less what anyone else thinks of me on here, my *total* debts and liabilities and credit of all types added together is a big fat zero. This has been a matter of choice for some 30 years now. nobody can knock at my door and demand a damn thing." What on earth are you talking about? You think land registry hold all the fake deeds whilst the 'real' copies are stashed away in your imagination! | |||
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" What on earth are you talking about? You think land registry hold all the fake deeds whilst the 'real' copies are stashed away in your imagination!" Sigh.... Land Registry is like registry of births and deaths, they hold copies of original certs. There is only one original birth certificate issued per person. There is only one set of deeds issued per freehold properly. 99% of "homeowners" have never even seen a set of deeds. | |||
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" What on earth are you talking about? You think land registry hold all the fake deeds whilst the 'real' copies are stashed away in your imagination! Sigh.... Land Registry is like registry of births and deaths, they hold copies of original certs. There is only one original birth certificate issued per person. There is only one set of deeds issued per freehold properly. 99% of "homeowners" have never even seen a set of deeds." Absolute nonsense. They are the official registry of who owns what in the country. They hold the latest record showing who the legal owner of a property is. It only costs £3 to confirm you are talking shit. | |||
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"I have never understood why fast rising house prices are supposed to be such a good thing. Say someone bought a house in 1979 for £40k and it is now valued at £400k. If they sell it, they can only buy another house of similar size/quality in the same area. So what's the big deal? Rising prices only freeze out first time buyers and those at the lower end of the market. Unless you move somewhere where the prices are significantly lower, such as moving from London to Scotland or the North of England...or to rural America. " Because when you snuff it, your kids inherit the equity.... | |||
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" What on earth are you talking about? You think land registry hold all the fake deeds whilst the 'real' copies are stashed away in your imagination! Sigh.... Land Registry is like registry of births and deaths, they hold copies of original certs. There is only one original birth certificate issued per person. There is only one set of deeds issued per freehold properly. 99% of "homeowners" have never even seen a set of deeds." true most people don't realise that the deeds are never actually theirs and 100% owners of the property until the last penny s paid to the lender. the copy of the deeds you get is exactly that, the copy of the ACTUAL deeds you get when loan is paid off. until then the lender is the owner. | |||
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" They are online at land registry and you can view anyone's for £3. It would be a worthwhile investment for you... Viewing an online facimile is not the same as holding the physical item. It's the same as physical gold vs paper gold, only the phyzz is real. I could care less what anyone else thinks of me on here, my *total* debts and liabilities and credit of all types added together is a big fat zero. This has been a matter of choice for some 30 years now. nobody can knock at my door and demand a damn thing. What on earth are you talking about? You think land registry hold all the fake deeds whilst the 'real' copies are stashed away in your imagination!" the land registry hold the actual deeds, the home buyer gets a copy. they get the real thing the day they pay the last penny of their loan. | |||
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"when an average person, on an average wage cannot afford to live in and average house, then the financial/social reset button needs pressing. " And then just as many people lose a fortune as those given a chance to invest in a home.... Pointless | |||
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" the land registry hold the actual deeds, the home buyer gets a copy. they get the real thing the day they pay the last penny of their loan." The Land Registry do not hold the deeds. They will hold a scanned copy of the deeds drawn up when a property is first registered. The mortgage lender would usually hold them until the mortgage is paid in full. | |||
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But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?) | |||
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"Surely, negative equity, which will mainly affect first time buyers, is a small price to pay for the joy of "Taking back control"
But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?) "Negative equity would ruin more working class peoples lives than it would help so the point of ruining even more lives is????? | |||
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"Surely, negative equity, which will mainly affect first time buyers, is a small price to pay for the joy of "Taking back control"
But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?)
Negative equity would ruin more working class peoples lives than it would help so the point of ruining even more lives is?????"To help those who have already had their lives ruined by not being able to get on the ladder in the first place. | |||
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"Surely, negative equity, which will mainly affect first time buyers, is a small price to pay for the joy of "Taking back control"
But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?)
Negative equity would ruin more working class peoples lives than it would help so the point of ruining even more lives is?????
To help those who have already had their lives ruined by not being able to get on the ladder in the first place. "But they haven't.They haven't been repossessed or financially burdened. They are not stuck in a house they cannot sell if out growing it. The people you cannot buy, just have not had the opportunity to buy or cannot afford. | |||
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" the land registry hold the actual deeds, the home buyer gets a copy. they get the real thing the day they pay the last penny of their loan. The Land Registry do not hold the deeds. They will hold a scanned copy of the deeds drawn up when a property is first registered. The mortgage lender would usually hold them until the mortgage is paid in full." Deeds? Nope. They went out a long time ago. | |||
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"Surely, negative equity, which will mainly affect first time buyers, is a small price to pay for the joy of "Taking back control"
But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?)
Negative equity would ruin more working class peoples lives than it would help so the point of ruining even more lives is?????
To help those who have already had their lives ruined by not being able to get on the ladder in the first place. "So your answer to some people not being able to get on property ladder is to ruin everyone life who is already on it with a mortgage???? I'm sure that makes sense to someone but that someone must be incredible stupid | |||
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"Surely, negative equity, which will mainly affect first time buyers, is a small price to pay for the joy of "Taking back control"
But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?)
Negative equity would ruin more working class peoples lives than it would help so the point of ruining even more lives is?????
To help those who have already had their lives ruined by not being able to get on the ladder in the first place.
But they haven't.They haven't been repossessed or financially burdened. They are not stuck in a house they cannot sell if out growing it. The people you cannot buy, just have not had the opportunity to buy or cannot afford. "Oh but they have. Whilst everyone was happily paying down their mortgage they were forking out rent = financial burden. Having to live with parents is the definition of "stuck in a house and out growing it". | |||
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"Surely, negative equity, which will mainly affect first time buyers, is a small price to pay for the joy of "Taking back control"
But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?)
Negative equity would ruin more working class peoples lives than it would help so the point of ruining even more lives is?????
To help those who have already had their lives ruined by not being able to get on the ladder in the first place.
So your answer to some people not being able to get on property ladder is to ruin everyone life who is already on it with a mortgage????
I'm sure that makes sense to someone but that someone must be incredible stupid"Yup. People in the ponzi scheme didn't give a fuck about those outside of it. If it comes crashing down then why should we care about them. Maybe people should learn to manage their money properly and learn what a house is worth instead of believing estate agents who are paid a commission. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism)." How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... | |||
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"Surely, negative equity, which will mainly affect first time buyers, is a small price to pay for the joy of "Taking back control"
But never mind.
The old and cash rich will bide their time before buying up property cheap from unemployed mortgage defaulters.
The homeless can then move to the rural areas, live in farm provided caravans and take up all the minimum wage jobs made available because all the EU Polish and Lithuanians migrants have gone home.
Nirvana! Thank you Boris and Gove (where is he these days anyway?)
Negative equity would ruin more working class peoples lives than it would help so the point of ruining even more lives is?????"I was, of course, being sarcastic. O-) A lot of less well off people voted to Brexit thinking masses of money (£350m per week was it?) will be spent on the NHS and it will stop migrants at a stroke. (Update: they lied) This would then free up houses and jobs so Brits will have nice new jobs and house prices will fall so we can all have a little semi in the Cotswolds. Not gonna happen!! The EU savings, what little there is after the economic downturn, will go to support exporters paying foreign import tarrifs or "trading dues" to the EU. Migrants will still take the better jobs in the NHS, etc. because they are qualified and better workers and there are too few Brits to fill them. Lost service sector jobs (because service sector agreements are very hard to negotiate and comply with) and negative equity will make many homeless. Builders will sit on their land banks and lay off men pending a return to a more bouyant housing market. The full joys of Brexit will come slowly and inexorably towards us over the next two years; enjoy. Rejoyce in democracy!! Once again. Thank you Boris and Michael.... | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... " It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it." Lol! It's a rigged market!! | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! " It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses? | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... " Significantly more, I've universally found. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses?" Let's say I was chancellor and my primary goal was to get re-elected. I need to make people better off but there's a productivity problem, a skills gap, huge government debt and a looming crisis from people who don't save enough for retirement. No I could tackle these issues head on but that would be very difficult and definately unpopular with some voters. Alternatively I could create a ponzi scheme around a common asset, like houses. I'd start by making sure that there wasn't enough supply. As a government we wouldn't build anything but we'd also ensure that newts and bats could stop anything else getting built. We'd make planning permission slow and painful to discourage new building. I'd then create tax benefits on mortgage debt which encourages people to take out ever bigger loans against property they already own. I'd then want some low interest rates and quantitative easing such that we literally magic money into economy and give everyone a windfall. That's the bank of England's job of course but I'd do what I could. I'd also start to eliminate state pensions and release businesses from their pension obligations, that way old people need something to live off and they too will push up the market further. Then I'd ensure infrastructure was as bad as it possibly could be, without making me unelectable which would force people to live in certain areas and push up prices even more. Let's say we'd have the 30th best (worst?) Infrastructure in the world despite being the 5th richest country and then make up some bullshit excuse about being older than the other countries
There are a few ideas how I would rig a market but obviously that's just pure fantasy. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses? Let's say I was chancellor and my primary goal was to get re-elected. I need to make people better off but there's a productivity problem, a skills gap, huge government debt and a looming crisis from people who don't save enough for retirement. No I could tackle these issues head on but that would be very difficult and definately unpopular with some voters. Alternatively I could create a ponzi scheme around a common asset, like houses. I'd start by making sure that there wasn't enough supply. As a government we wouldn't build anything but we'd also ensure that newts and bats could stop anything else getting built. We'd make planning permission slow and painful to discourage new building. I'd then create tax benefits on mortgage debt which encourages people to take out ever bigger loans against property they already own. I'd then want some low interest rates and quantitative easing such that we literally magic money into economy and give everyone a windfall. That's the bank of England's job of course but I'd do what I could. I'd also start to eliminate state pensions and release businesses from their pension obligations, that way old people need something to live off and they too will push up the market further. Then I'd ensure infrastructure was as bad as it possibly could be, without making me unelectable which would force people to live in certain areas and push up prices even more. Let's say we'd have the 30th best (worst?) Infrastructure in the world despite being the 5th richest country and then make up some bullshit excuse about being older than the other countries
There are a few ideas how I would rig a market but obviously that's just pure fantasy. "You're my hero. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses? Let's say I was chancellor and my primary goal was to get re-elected. I need to make people better off but there's a productivity problem, a skills gap, huge government debt and a looming crisis from people who don't save enough for retirement. No I could tackle these issues head on but that would be very difficult and definately unpopular with some voters. Alternatively I could create a ponzi scheme around a common asset, like houses. I'd start by making sure that there wasn't enough supply. As a government we wouldn't build anything but we'd also ensure that newts and bats could stop anything else getting built. We'd make planning permission slow and painful to discourage new building. I'd then create tax benefits on mortgage debt which encourages people to take out ever bigger loans against property they already own. I'd then want some low interest rates and quantitative easing such that we literally magic money into economy and give everyone a windfall. That's the bank of England's job of course but I'd do what I could. I'd also start to eliminate state pensions and release businesses from their pension obligations, that way old people need something to live off and they too will push up the market further. Then I'd ensure infrastructure was as bad as it possibly could be, without making me unelectable which would force people to live in certain areas and push up prices even more. Let's say we'd have the 30th best (worst?) Infrastructure in the world despite being the 5th richest country and then make up some bullshit excuse about being older than the other countries
There are a few ideas how I would rig a market but obviously that's just pure fantasy. "You will have to excuse me if I don't think that is a strategy that would be particularly attractive. I was looking for your sensible solution. Oh, well. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses? Let's say I was chancellor and my primary goal was to get re-elected. I need to make people better off but there's a productivity problem, a skills gap, huge government debt and a looming crisis from people who don't save enough for retirement. No I could tackle these issues head on but that would be very difficult and definately unpopular with some voters. Alternatively I could create a ponzi scheme around a common asset, like houses. I'd start by making sure that there wasn't enough supply. As a government we wouldn't build anything but we'd also ensure that newts and bats could stop anything else getting built. We'd make planning permission slow and painful to discourage new building. I'd then create tax benefits on mortgage debt which encourages people to take out ever bigger loans against property they already own. I'd then want some low interest rates and quantitative easing such that we literally magic money into economy and give everyone a windfall. That's the bank of England's job of course but I'd do what I could. I'd also start to eliminate state pensions and release businesses from their pension obligations, that way old people need something to live off and they too will push up the market further. Then I'd ensure infrastructure was as bad as it possibly could be, without making me unelectable which would force people to live in certain areas and push up prices even more. Let's say we'd have the 30th best (worst?) Infrastructure in the world despite being the 5th richest country and then make up some bullshit excuse about being older than the other countries
There are a few ideas how I would rig a market but obviously that's just pure fantasy.
You will have to excuse me if I don't think that is a strategy that would be particularly attractive. I was looking for your sensible solution. Oh, well."Far more attractive than telling people to face up to a productivity problem!!! Nobody likes to be told the solution to their problems is within their own means. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses? Let's say I was chancellor and my primary goal was to get re-elected. I need to make people better off but there's a productivity problem, a skills gap, huge government debt and a looming crisis from people who don't save enough for retirement. No I could tackle these issues head on but that would be very difficult and definately unpopular with some voters. Alternatively I could create a ponzi scheme around a common asset, like houses. I'd start by making sure that there wasn't enough supply. As a government we wouldn't build anything but we'd also ensure that newts and bats could stop anything else getting built. We'd make planning permission slow and painful to discourage new building. I'd then create tax benefits on mortgage debt which encourages people to take out ever bigger loans against property they already own. I'd then want some low interest rates and quantitative easing such that we literally magic money into economy and give everyone a windfall. That's the bank of England's job of course but I'd do what I could. I'd also start to eliminate state pensions and release businesses from their pension obligations, that way old people need something to live off and they too will push up the market further. Then I'd ensure infrastructure was as bad as it possibly could be, without making me unelectable which would force people to live in certain areas and push up prices even more. Let's say we'd have the 30th best (worst?) Infrastructure in the world despite being the 5th richest country and then make up some bullshit excuse about being older than the other countries
There are a few ideas how I would rig a market but obviously that's just pure fantasy.
You will have to excuse me if I don't think that is a strategy that would be particularly attractive. I was looking for your sensible solution. Oh, well."I never promised a solution anyway. You asked how the market was rigged and I told you. The 'solution', much to the annoyance of those inside the ponzi scheme is "we don't need no water let the mutherfucker burn" - tough love. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses? Let's say I was chancellor and my primary goal was to get re-elected. I need to make people better off but there's a productivity problem, a skills gap, huge government debt and a looming crisis from people who don't save enough for retirement. No I could tackle these issues head on but that would be very difficult and definately unpopular with some voters. Alternatively I could create a ponzi scheme around a common asset, like houses. I'd start by making sure that there wasn't enough supply. As a government we wouldn't build anything but we'd also ensure that newts and bats could stop anything else getting built. We'd make planning permission slow and painful to discourage new building. I'd then create tax benefits on mortgage debt which encourages people to take out ever bigger loans against property they already own. I'd then want some low interest rates and quantitative easing such that we literally magic money into economy and give everyone a windfall. That's the bank of England's job of course but I'd do what I could. I'd also start to eliminate state pensions and release businesses from their pension obligations, that way old people need something to live off and they too will push up the market further. Then I'd ensure infrastructure was as bad as it possibly could be, without making me unelectable which would force people to live in certain areas and push up prices even more. Let's say we'd have the 30th best (worst?) Infrastructure in the world despite being the 5th richest country and then make up some bullshit excuse about being older than the other countries
There are a few ideas how I would rig a market but obviously that's just pure fantasy.
You will have to excuse me if I don't think that is a strategy that would be particularly attractive. I was looking for your sensible solution. Oh, well.
I never promised a solution anyway. You asked how the market was rigged and I told you.
The 'solution', much to the annoyance of those inside the ponzi scheme is "we don't need no water let the mutherfucker burn" - tough love."Well, I would prefer that the motherfucker didn't burn but I don't see the point in moaning about the motherfucker burning unless you have a solution to stopping the motherfucker burning. Sorry about that. | |||
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"Thatchermania. Before then, we were - as large swathes of Europe still are - a nation of renters. It is not a right to own your own home. (Waits for accusations of fascism). How can you afford to live in retirement unless you own your home? For most people, rent is about a third of their income. Final salary pensions are a thing of the past and government pensions might as well be. Most rents are roughly the same as a mortgage anyway.... It is called a market economy. Not pretty in all aspects but better than trying to fook around with it. Lol! It's a rigged market!! It is rigged by the market, that is true. How would you rig it? To your benefit? To others benefit? To others losses? Let's say I was chancellor and my primary goal was to get re-elected. I need to make people better off but there's a productivity problem, a skills gap, huge government debt and a looming crisis from people who don't save enough for retirement. No I could tackle these issues head on but that would be very difficult and definately unpopular with some voters. Alternatively I could create a ponzi scheme around a common asset, like houses. I'd start by making sure that there wasn't enough supply. As a government we wouldn't build anything but we'd also ensure that newts and bats could stop anything else getting built. We'd make planning permission slow and painful to discourage new building. I'd then create tax benefits on mortgage debt which encourages people to take out ever bigger loans against property they already own. I'd then want some low interest rates and quantitative easing such that we literally magic money into economy and give everyone a windfall. That's the bank of England's job of course but I'd do what I could. I'd also start to eliminate state pensions and release businesses from their pension obligations, that way old people need something to live off and they too will push up the market further. Then I'd ensure infrastructure was as bad as it possibly could be, without making me unelectable which would force people to live in certain areas and push up prices even more. Let's say we'd have the 30th best (worst?) Infrastructure in the world despite being the 5th richest country and then make up some bullshit excuse about being older than the other countries
There are a few ideas how I would rig a market but obviously that's just pure fantasy.
You will have to excuse me if I don't think that is a strategy that would be particularly attractive. I was looking for your sensible solution. Oh, well.
I never promised a solution anyway. You asked how the market was rigged and I told you.
The 'solution', much to the annoyance of those inside the ponzi scheme is "we don't need no water let the mutherfucker burn" - tough love.
Well, I would prefer that the motherfucker didn't burn but I don't see the point in moaning about the motherfucker burning unless you have a solution to stopping the motherfucker burning.
Sorry about that."I want the mutherfucker to burn so I can get on the ladder. The solution is "let it burn", why would I want to stop prices falling? Sorry if people can't value assets properly and paid stupid prices. | |||
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"As the Japanese say: "Fix the problem, not the blame" "I genuinely think we could do with a bit of Seppuku added to our culture. In the UK, failure is rewarded with parachute payments!! | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... £150k is a lot more than 1 or 2 percent If we don't know the selling price we can't calculate the % reduction. if 150 000 is 2% then 75 000 is 1% so the house would have cost 750 000 to start.... Seems about right to me. " Can you do my accounts | |||
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"As the Japanese say: "Fix the problem, not the blame"
I genuinely think we could do with a bit of Seppuku added to our culture. In the UK, failure is rewarded with parachute payments!! "Nah. Veto | |||
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"I want the mutherfucker to burn so I can get on the ladder. The solution is "let it burn", why would I want to stop prices falling? Sorry if people can't value assets properly and paid stupid prices. " I wouldn't hold your breath, or wait in hope, if prices drop, people simply won't sell and buildrs wont build. The mortgage free few will possibly trade up, which may keep things ticking over, but will do nothing for first time buyers. Anyone in negative equity can only keep paying the mortgage and stay put. | |||
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"Someone in South London looking for flats with several estate agents being told sellers cutting asking prices, in one case £150000 reduction, in another £180000 off. Which equals a 1 or 2% drop on expected price, not exactly a crash... But a possible precursor to one." It's not just house prices dropping. Businesses are reporting slowdown across most sectors. A 'readjustment' downwards of around 30% is on the way for house prices, interest rates to rise significantly (and sharply), and a big economic squeeze to rear its ugly head again like in 2008 (subtly different, but will have the same effect) | |||
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