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House Price Crash Forum

ucnvpe0

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Everything posted by ucnvpe0

  1. Agreed, the value for money is atrocious in many cases. I suspect part of the problem is many now have a narrow mindset of only look at monthly payments. They live from one paycheck to the next. Concepts such as compounding interest are ignored and debt has been normalised across many industries.
  2. The next PPI I guess with the upcoming negative equity and possible forced sellers, the banks will have a lot more to worry about than the remortgage issues of people who have taken the 'holiday'.
  3. This sounds very similar to what many faced during the austerity years. Any talk about poverty, food bank use and homelessness were deflected. Why did nobody care about all this at the time and what makes you think the government will care this time?
  4. One in nine mortgage holders in the UK has taken a so-called "payment holiday" as their finances have been hit by the effects of coronavirus. Lenders have agreed that 1.2 million homeowners can delay repayments as jobs are cut and wages reduced. Typically, this defers a mortgage bill of £775 a month, with borrowers given the option of delaying up to three months of repayments. The number of deferrals in place more than tripled in the two weeks between 25 March and 8 April, growing from 392,130 to 1.24 million. This is an increase of nearly 850,000, or an average of around 61,000 payment holidays being granted by lenders per day.
  5. Yes. Prices will fall and banks will respond in a similar way to 2008. Things went from 100% LTV and interest only to 85-90% LTV repayment mortgage for many first time buyers nowadays. I suspect 75% LTV will become the new minimum along with many more 'bank of mum and dad' type options.
  6. I think more 35+ year olds with kids will leave but they will get replaced by new immigrants who want to build their life there.
  7. The highly leveraged BTLers and 'BTL is my pension' types will be the first to fall in the domino effect.
  8. What impact are we expecting this part to have on house prices? A nominal rise hiding a heavy real-term drop?
  9. I suspect inflation will rise. A lot of things are out of stock in the shop. People are forced to buy the more expensive brands.
  10. Yes, it might be a once in a lifetime opportunity to buy.
  11. I suspect banks will reduce their mortgage lending in a time of recession. The deposit required by a FTB might rise to 20-25%.
  12. Agreed. It's the sad reality. It often comes down to personal circumstances. Age and time are often the rate limiting step to waiting forever and "timing the market" is impossible. How many people would want to rent in retirement if they has the choice not to? Rationality does not seen to form any part of the housing market. Look where we are after "the great recession". Negative rates, debt forgiveness, capital control, QE etc wouldn't surprise me.
  13. For many, work no longer pays enough to secure a decent standard of living. Housing is a big factor behind this. A well timed gifts can play a major part in determining the living standards of the next few generations. I suspect the aristocrats know this and use it to their advantage. The gift itself can vary: - Financial support during university and/ or a funding for a good school. - Part of a deposit for a FTB. - Contacts in certain industries - Pension. - Passing on a business. - Bitcoin/ gold etc
  14. I'm in my late 20s and think it's the establishment that channels where the anger is directed. Right-leaning lobby groups and the liberal left metropolitan elite both stand to gain from house prices.
  15. The potential for another 5 years of Tories government has probably dashed any hope of a HPC.
  16. Why do people on HPC see this whilst the large majority of the wider population don't? Great for the banks. I can easily see them target inter-generation loans or 40year Help to Buy shared ownership mortgages. Ways to try and keep the wheels spinning.
  17. I came across this article and couldn't fathom a 40year mortgage!
  18. I think another 5 years of the Tories will push back any HPC.
  19. I guess it's what people have voted for if Boris gets in. Surely there must a theoretical limit on house prices at some point?
  20. The housing benefit system needs a massive overhaul with a very low cap. An influx of non-working people in some parts of the country has caused more problems than anyone ever imagined. The places went from being close knit (mainly employed) working-class areas to crime ridden ghettos in a short space of time.
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