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House Price Crash Forum


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About devilsadvocate

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    HPC Newbie
  1. Never understand why parents income has any relevance to how much subsidy a student receives. Personally I would base the amount of support a student gets on the basis of ability. I would restrict government funding to the top 10 -15% of students in each 6th Form or FE College. The rest should self fund, whether it be on the basis of loans or self funding. If you can't afford to go at 18, get a job and work and go back at 22/23 having built up some funds. We need doctors, scientists, engineers, teachers, lawyers to have a good academic background. However would it not be beter for people who
  2. Rather than spend billions on propping up banks why don't they pay off a proportion say 25 - 50% of existing mortgages on the proviso that the people live there for a certain period of time. This will mean banks have more money to lend to FTB (on sensible terms) and that interest rates can rise for the prudent saver. If they didn't want to do this they could offer to give a tax rebate for all money paid off a mortgage or saved with a bank. I am thinking that rather than give money directly to the idiot bankers who have created the problem this helps deleverage those in debt and increase the
  3. Agree that kids need to spend time with their parents but to say that 1 parent has to stay at home all the time is nonsense. What is a "nonsense" job. Surely kids are better being part of a family where achievement is encouraged rather than with on domineering "breadwinner" parent and the other compelled to be at home all of the time. The "social revolution" you propose sounds like the 1950s when women were seen as not being equal to men. You've shown your true colours.
  4. The old adage is it is neither a profit or a loss till you sell it. If investing for income even at a conservative rent the yield on property is probably better than a savings account/shares. Granted the capital losses on the "balance sheet" might mount up over the next few years but if inflation spikes probably no more or less than if it was in cash in the bank. Agree about liquidity point but if you have a sum of money that you can lock away for 5 years then property is fine. If you need liquid in the interim then you can still (just about) mortgage a BTL easily for about 50% LTV with a dec
  5. Agree with that. Maybe a bookkeeper/cashier but ont a qualified accountant. It's ludicrous to say that a single man/woman would want/should be able to buy an average 3 bed house. The average house price should reflect the "average" household income. If we take a man earning the "average" wage of £24,000 plus the wage of a partner (whether mail or female based at 60% of this = £14,440) that gives a household income of £38,440.(x3.5 = £135,540) so average house could be comfortably £130,000 - 140,000 for most couples. Therfore average house is about £10 -£15,000 over priced) The next argumen
  6. What a well reasoned argument. Overborrowing got us into this mess, why do you associate borrowing with enjoying? Where do I suggest overborrowing. I'm certainly not a moron or a numpty. I am going to cancel my membership on here now as most of the people on here are not interested in a balanced view but simply their own. Most people who poste on here from 2003 probably cost themselves a lot of money by not buying and selling. That said this is a site dedicated to those hoping for a houseprice crash so fair enough. One question I will leave you all with is this. If in the next 5 - 10 yea
  7. I live in South East Wales! Most people who live in a 3/4 bed house here will have somebody earning that type of money! People in industrial jobs here are clearing that with a little bit of overtime.
  8. Agree with this sentiment. The market is made up of people and sentiment. An intelligent person will take into account a range of views. A lot of people on here make valid points but others just think " I can't afford a house so they must be too expensive, where's my gold and tins of Spam I'm off to live in the mountains"
  9. If you meet the FSA criteria like many insurance or large retail companies do then easily. Tesco has a banking licence as does Standard Life. It was a cartel when banks were supposedly strong but they are not any more. The market will react to demand. There is still a lot of cash out there that needs to be invested.
  10. I bought a house 6 years ago because I needed somewhere to live. Sold it bought another to live in. Don't really care if it's worth less than I paid for it. Can see the appeal of renting to some people but it's not for me. The international money markets point is rubbish. In the next 5 years people will bolster the savings ratio up from a ridiculously low level. In the next year or so you'll see new banks established by entrepreneurial companies/investors. There is only one rule in economics that has any merit and that is supply and demand. People need houses so in the medium to long term b
  11. I've read quite a lot of the posts on here and some people are clearly quite negative people. Whilst I agree that house prices will undoubtedly fall some of the figures bandied about on here (like 90% across the board!!) are crazy. I wonder whether in 5 - 10 years time when property is starting to rise again the same people will be on here having not bought at the bottom of the cycle moaning that they are "priced out" of the market. Certainly there is an over supply of flats in some cities as a result of BTL speculation. In these areas prices became totally diconnected from the incomes of the
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