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danlee74

Bbc: Falling House Prices Could Help Market And Uk Economy

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http://www.bbc.co.uk/news/uk-politics-12239562

I am annoyed by this article actually ... she states 0.38 in "homeowners wanting prices to rise to make a packet, and would-be homeowners wanting prices to fall so that they can get on the ladder, and make a packet". NO!NO!NO! I want a reasonable home at a reasonable price so that I can afford to live my life without being riddled with debt and putting a large %age of money into a banksters pocket via an inflated mortgage. I do not want to "make a packet" - house prices should be stable within a productive economy, at a very much lower price than they are now.

Why don't journos get it??!

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Good plan and thanks for the link ...

*****

Step 5 of 5: Confirmation

Thank you, your complaint has been sent. You do not need to re­submit it.

We aim to respond to you within 10 working days depending on the nature of your complaint and the research needed to address it.

*****

I'll post back when I receive my reply ...

Cheers!!

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http://www.bbc.co.uk/news/uk-politics-12239562

I am annoyed by this article actually ... she states 0.38 in "homeowners wanting prices to rise to make a packet, and would-be homeowners wanting prices to fall so that they can get on the ladder, and make a packet". NO!NO!NO! I want a reasonable home at a reasonable price so that I can afford to live my life without being riddled with debt and putting a large %age of money into a banksters pocket via an inflated mortgage. I do not want to "make a packet" - house prices should be stable within a productive economy, at a very much lower price than they are now.

Why don't journos get it??!

You are right, of course. It is quite insulting and shows that the author has lost sight of people just wanting a home to live in.

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http://www.bbc.co.uk/news/uk-politics-12239562

I am annoyed by this article actually ... she states 0.38 in "homeowners wanting prices to rise to make a packet, and would-be homeowners wanting prices to fall so that they can get on the ladder, and make a packet".

It may appear an odious sentiment, but it is correct as a generalisation

Most uk people (FTB or not) understand that the uk real estate market functions as a welfare system for people who can afford houses and has done so for quite a while.

Not everyone wants it to work like this but these people seem presently to be in a minority.

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.....

Why don't journos get it??!

They do. You don't. Property speculation has been the only route to money for the last 30 years. The UK has put all its dosh on black and the roulette wheel is spinning. If it lands on Red there will be cheap houses by the thousand but no jobs and no economy for the people living in them. Britain will look like its neighbour; Eire with empty new build awaiting the inevitable bulldozer.

A full blown HPC will only really help the speculators. That was the point. Prices crash 60% or so and people buy in at the bottom and wait for the inevitable rise. They're doing it in the US.

From a personal point of view, I like you, think stable and affordable property prices are best. But you have to accept we are in a tiny minority.

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Before 1997 you could put money in what was called "a pension" for when you retired. It wasn't at all quaint in those days and it was what a lot of people did.

You could also buy a house or flat etc that on average increased in value over the years at about the rate of inflation. Of course some times were far better to buy (or sell) than others but on average it would keep track with inflation.

Held for a long enough time you didn't lose money (in real terms) but neither did you "make a packet" (in real terms) but on retirement you likely owned the house or flat etc outright and you were mortgage and rent free and there was the choice to stay or maybe to downsize etc to supplement your pension etc.

Since 1997 things changed with the destruction of pensions and the banks crazy lending policies on houses or flats etc along with government policy. £3.3 million for a semi in Wandsworth :rolleyes:

Edited by billybong

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Before 1997 you could put money in what was called "a pension" for when you retired. It wasn't at all quaint in those days and it was what a lot of people did.

You could also buy a house or flat etc that on average increased in value over the years at about the rate of inflation. Of course some times were far better to buy (or sell) than others but on average it would keep track with inflation.

Held for a long enough time you didn't lose money (in real terms) but neither did you "make a packet" (in real terms) but on retirement you likely owned the house or flat etc outright and you were mortgage and rent free and there was the choice to stay or maybe to downsize etc to supplement your pension etc.

Since 1997 things changed with the destruction of pensions and the banks crazy lending policies on houses or flats etc along with government policy. £3.3 million for a semi in Wandsworth :rolleyes:

Why is there no had clap emoticon on here?! That is the best and most succinct summary of where it all went wrong imo. Where possible, the coalition should reverse a lot of the Brownstuffs economic disaster policies, and this would be a great place to start.

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I have also received a reply from the reporter to my - as promised, here it is [i cannot see anywhere where the reply forbids me to make this public]:

*** SNIP

RE: Complaint - Reply Required

From: NewsOnline Complaints <newsonline.complaints@bbc.co.uk>Add to Contacts

To: ??????????????@yahoo.co.uk

--------------------------------------------------------------------------------

Dear viewer,

Thank you for your message regarding my TV report on house prices. Within the report I was raising a question as to whether or not housing is a wealth creator, as the issue was then being debated live on the programme by our guest.

There has been a common perception in Britain that houses can be a way to make money. That is what, in part, fuelled our consumer boom for many years. The section of the TV report that you have raised, was in reference to that perception.

I am aware that not everybody makes money out of housing, and indeed that many people struggle to buy homes. That is why I made sure that the report had a balance of opinions. Shiv Malik, the author I spoke to, made the point that some people are losing out, Roger Bootle the economist said that housing wealth is an illusion, and the members of the public I spoke to talked about their difficulty buying a home.

I hope that answers your concerns.

All the best,

Susana Mendonça

--------------------------------------------------------------------------------

From: Audience Services [mailto:bbcaudienceservices@capita.co.uk]

Sent: 21 January 2011 08:10

To: NewsOnline Complaints

Subject: Complaint - Reply Required

Re. Falling house prices could help market and UK economy. Feels the reporting is "questionable.

I am annoyed by this article actually ... your reporter states 0.38 in "homeowners wanting prices to rise to make a packet, and would-be homeowners wanting prices to fall so that they can get on the ladder, and make a packet". As a potential first time buyer, I want a reasonable home at a reasonable price so that I can afford to live my life without being riddled with debt and putting a large %age of money into a banksters pocket via an inflated mortgage. I do not want to "make a packet" - house prices should be stable within a productive economy, at a very much lower price than they are now. Why do journalists talk about houses as a way to make money rather than a houses' primary purpose of providing a home and shelter?

BBC Online URL: http://www.bbc.co.uk/news/uk-politics-12239562

*** END OF SNIP

Interesting?! The first bit that jumped out at me was "I am aware that not everybody makes money out of housing" as again it assumes that people are **wanting** to make money from housing. In my case, and I suspect the case of a lot of priced out buyers, I just want somewhere to live without paying an extortionate %age of my monthly income to a bank via an inflated mortgage.

I may reply to that effect ... unfortunately I am busy this afternoon do not have time to construct a reply!!

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http://www.bbc.co.uk/news/uk-politics-12239562

I am annoyed by this article actually ... she states 0.38 in "homeowners wanting prices to rise to make a packet, and would-be homeowners wanting prices to fall so that they can get on the ladder, and make a packet". NO!NO!NO! I want a reasonable home at a reasonable price so that I can afford to live my life without being riddled with debt and putting a large %age of money into a banksters pocket via an inflated mortgage. I do not want to "make a packet" - house prices should be stable within a productive economy, at a very much lower price than they are now.

Why don't journos get it??!

..because they want to make a packet.

Also, journos aren't editorially independent and mostly rehash press releases from those wanting to influence public thinking in some way.

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Interesting?! The first bit that jumped out at me was "I am aware that not everybody makes money out of housing" as again it assumes that people are **wanting** to make money from housing. In my case, and I suspect the case of a lot of priced out buyers, I just want somewhere to live without paying an extortionate %age of my monthly income to a bank via an inflated mortgage.

I may reply to that effect ... unfortunately I am busy this afternoon do not have time to construct a reply!!

I think you're being a bit harsh on her. She just made a not very successful attempt at a humourous comment about the UK's property obsession, but to be fair she did include Roger Bootle talking some sense about the real value of housing.

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Why is there no had clap emoticon on here?! That is the best and most succinct summary of where it all went wrong imo. Where possible, the coalition should reverse a lot of the Brownstuffs economic disaster policies, and this would be a great place to start.

Thank you.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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