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About Speed1987

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  1. Well help to buy ISAs come to an end in November. " The deadline for opening up a Help to Buy ISA account is Saturday 30 November, which means there are less than three months less to get one set up." So I really suspect, the government has a new plan to prop up the housing market even more so... this will be even more aggressive, I think the new plan will extend to all property like Boris has hinted at. Think of it this way, your an MP and have several houses, are you inclined to let house prices fall..? Your a landlord lobbying MPs to push up prices? Secondly, the banks are heavy with mortgage loans, they would go under if the housing market failed. Thirdly, first time buyers and new buyers would likely default on their mortgages, if they were to far in negative equity, as it doesnt make sense to pay it down. The goverment will prop it up, but this time it's going to be crazy. Read more, https://metro.co.uk/2019/09/05/help-buy-isa-deadline-get-one-10691015/?ito=cbshare
  2. Although consumers have much to lose if the housing market crashes, the banks are more exposed than anyone... I highly doubt they will allow the market to crash. London isnt crashing, London is cooling from its peak. London, being an a major international city, leaving the EU will loose its power. So I can imagine buying pressure has fallen. Birmingham, Manchester and anywhere with decent infrastructure and jobs are seeing steady growth. In Birmingham, where value can be had, buying pressure is unreal. First time buyers are snapping up 130k-170k houses, some with up to 40 viewings. There literally on the market for 3-5 days and sold. What's going to cause a crash? I cant see anything immediate, people are still buying despite Brexit, they couldn't give a hoot. Interest rates are so low and mortgages trump renting. This is a great tool I stumbled across the other day and makes my point. https://www.theadvisory.co.uk/propcast/
  3. I'm exactly the same, after buying I was so relieved not to be worrying about houses, which I thought were about to crash any moment. All the articles online, this forum etc etc... Then I looked at a chart long term and put things into perspective, even if it does crash. I'm still in a better position than renting. In 25 years from now, Brexit will just be a distant memory and those who've bought will probably get the same flack the boomers get now. Us millennials will be scum.
  4. I felt like this while saving, why should I hand over my wealth. Although what alternative do we have? My mortgage is considerably cheaper than renting, rent in my area is £700, my 25 year mortgage is £300, 25k deposit on a doer upper and loads of self graft has gotten me a beautiful house 10 mins from Birmingham city. The house has already increased by 30% in the last 3 years. In 7 years, even if the house drops in price, I will have gained my deposit back in the reduced rent payments I've made. The way i see it now, is the government reward those who invest in England, put money into English infrastructure and they'll do their upmost to ensure you gain from it. They are not going to allow the market to sink, they are destroying councils and theres no council housing being built. They want us to be self dependent, honestly I can only see it getting worse and more polices being created to reward home owners and help young people take on more debt. What if Brexit doesnt happen? A Brecit bounce will hit us and people will be in even a more worse postin than they are now.
  5. It looks increasingly likely we will have an extension, possibly 2 years or more... its appears as if it's not going to happen. So expect a big Non-Brexit bounce if it doesn't. Honestly Recent buyers are gonna see 10% gains.
  6. Psychiatric Nursing, Birmingham City University. It was NHS funded lucky me.
  7. Often many of these people have been council tenants for years, some have practically bought the house two times over in rent. Especially those who have been there 20 years of more. I do however agree, that Millennials have it much tougher, little or no access to social housing, unlike the boomer, plenty of access and plenty of cheap housing. Rtb needs to come to an end for new council tenants, or atleast for a tenant with only a 5 year history. The truth is the government doesn't want any council housing, Perry bar, Birmingham will see 1400 homes built for the Common wealth games, by the council and only 58 will be used as council homes, rest will be sold. Now that just shows how this government is operating. My prediction, next 5-10 years, high monetary inflation to pay off millennials mortgage debt. Once millennials gain power in goverment expect loads of debt eroding policies.
  8. Well if rents & utilities are rising... So you take home, 1k a month Gas and electric is £100 Rent is £600. Your struggling to live, gas and electric go up to £200 a month, over three years. Rent is now at £700, a month. However wages have only risen to £1100 a month. So you leave, for a cheaper house, at £500 a month. I know many people who have relocated to cheaper areas to help balance finances. If I'm missing something here, please enlighten me. I feel my argument is a sensible one.
  9. Well if your utilities are constantly going up in price, but you can't afford them, eventually you'll have not choice but to move to cheaper area.
  10. As argued, immigration isnt really the problem here. We've signed up to trade deals, we know they are going to come. We simply need to build more houses, although that seems unlikely. If we stopped immigration, house building would just slow down. I think to really get house prices down, we need mass house building, war or a viral epidemic.
  11. https://inews.co.uk/news/uk/families-financial-shock-bills-gas-electric-council-tax-water-rise/ 3 years ago I was paying 8.4p per kWh of electricity with sainsbury's, right now it seems 14p per kWh is good price. I'm in several groups on Facebook about saving money. Recently, I've noticed an increase of topics, regarding oweing utility companies money. Even if mortgage rates stay low, if fuel prices keep rising, sooner or later people will sell up, could act as driver if a crash occurs. I guess it could also act as the social cleansing policies we've seen.
  12. Although I agree with everything you've said, the reality of the world and how its changing is not hitting people in the UK. Sickness was awful in the public sector before the 2007 crash, it still is but back then it was extreme. We simply cant afford to keep giving people a free ride, we dont want any wars anymore, so we cant even steal other peoples stuff. Either we let older people just die and tbh abit of that is happening, with the backlogs in the NHS, saves us all money on paying pensions. Or we pay for them, by keeping house prices propped up and purchasing them from them. We aso need to deal with tax avoidance however nobody seems to want to tackle this issue, big companies are hugely responsible also for the poverty that exists.
  13. I agree I dont think the death of the bomers will have any real impact on house prices. Firstly new builds are just being trickled onto the market, the tap will be turned down when boomers start dieing. If mass house building were to occur, a huge amount of monetary inflation would be need to compensate, current indebted millennials with HTB or huge mortgages. Otherwise they would default and the goverment does not want to punish those who invest in British housing stock & land. That would have a negative impact of social care, which currently relies partly on boomers selling their properties. If anything I think the goverment will bring a new policy which gives mortgages some sort of tax relief or benefits. They will find another way to drive up prices or reward the mortgage holders. 2007 subprime crash was unforeseen, the goverment has done everything in its power to drive up prices, I cant see that changing.
  14. The problem we have is how do we pay for all the needs of our society. The social care bill in this country is going to be massive and Millennials will have no appetite to pay for it. Sooner or later, social care will fail and older people will just have to fund themselves, with no government funding. These policies are already moving in. We cant just keep printing money... The Conservatives forcing councils to sell land, is quite possibly a way of back handing money to friends. They buy the land on the cheap, build houses on it and sell them to millennials through htb. Almost triple screwing the tax payer. There needs to be capitalism, we just need to remove these shit elements of it. The problem is voters are just to concerned with immigration to recognise anything else that is happening.
  15. Hmmm I think you may be right. Although in Birmingham the housing ladder is still well within the reach of a sensible couple who save. They would be able to get a three bed for 130k or so. Work is becoming increasingly demanding, however I still feel people shouldn't get a free ride even though, I haven't had your privilege. There are to many people I know, who are scamming the benefits system, getting their children diagnosed with autism or just popping out kids to avoid work. That also cant continue... I know benefit moms coked ti their eye balls on a Saturday, while nan watches the kids. I'm not saying people shouldn't have a good time but they are clearly not in hardship. I honestly believe work needs to pay better, the lifestyles afforded by working especially close to minimum wage is really no incentive.. Why do you feel the ladders have come to far up?
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