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shindigger

Uh Oh Uh Oh Uh Oh Not Cool I Need An Adult Uh Oh!

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Not surprising, this is a clever way to default.

I've been expecting this move for quite awhile. It's going to happen at the national level as well as govts decide to write off a certain % of the debt.

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Not surprising, this is a clever way to default.

I've been expecting this move for quite awhile. It's going to happen at the national level as well as govts decide to write off a certain % of the debt.

banks havent declared the losses in capital value anyway...they can cut the capital owed on defaulters and it will have no effect whatsoever.

A defaulter is a defaulter is a defaulter.

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Quote

"This has been a very, very tough housing market as a result of the fact that we went through a horrible financial crisis,"

Massad told reporters on the sidelines of a foreclosure prevention event in Washington.

Quote

And what caused the financial crisis Mr Massad.

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banks havent declared the losses in capital value anyway...they can cut the capital owed on defaulters and it will have no effect whatsoever.

Maybe not on the banks balance sheet, but it may start a bit of civil unrest.

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Glad we don't have to pay for that.

I was talking to someone last week who made a ton of money from BTL. Her opinion was that it was cheaper in the long run for the government to bail out people's losses than to pay for the resulting poverty of joblessness or homelessness.

Can't say I agree with her. I don't remember signing on to other people's debts as a guarantor.

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The Obama administration wants to help more struggling Americans stay in their homes by reducing the amount they owe on their troubled mortgages, a top Treasury official said Saturday.

There's nothing quite like getting free stuff.

Basically it's all become a total farce but it'll have been announced in a very very loud voice to convince that it's the right thing to do so that's ok then - but there again it's just taxpayers money and there's obviously any amount of that just to give away.

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I was talking to someone last week who made a ton of money from BTL. Her opinion was that it was cheaper in the long run for the government to bail out people's losses than to pay for the resulting poverty of joblessness or homelessness.

This is likely true, especially if the family about to be homeless is quite close to being able to pay their bills, eg only lost one of two incomes. Paying people's mortgages makes sense, even for the taxpayers footing the bills.

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This is likely true, especially if the family about to be homeless is quite close to being able to pay their bills, eg only lost one of two incomes. Paying people's mortgages makes sense, even for the taxpayers footing the bills.

no it doesn't because it encourages reckless borrowing and state dependency which is unsustainable.

the benefit system is the major cause of our woes, that and a distorted distribution of wealth.

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This is likely true, especially if the family about to be homeless is quite close to being able to pay their bills, eg only lost one of two incomes. Paying people's mortgages makes sense, even for the taxpayers footing the bills.

No!

Letting the banks go bust, and capitalising new banks makes sense. Selling off the original mortgages at a discount with a proviso for debt forgiveness makes sense.

Piling the cost onto taxpayers is a disaster.

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So will they be giving some free money to those who aren't over-indebted?

I would love to see a class action suit brought by home owners (i.e. those who own their homes outright without any debts against it) against governments for financial discrimination.

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  • 284 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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