Venger Posted May 24, 2014 Share Posted May 24, 2014 Banks aren't interested in savers any more. That's why they offer such paltry interest rates. They can get much cheaper cash elsewhere. Credit growth isn't so hot, and after a bit of a spurt past year, is set to dampen down. Saving rates are low because asset values and risk is so high (imo). And all too often policymakers will try and get you to spend, invest, at an ill-advised time, to prolong the boom. A remnant of some mild childhood dyslexia (b,d,p), and perhaps wishful thinking, I keep reading the title of this thread as: House Price drops Then I remember it's hpc, where even if we had any such drops, it'd be back to how all owners are victims, again. Quote Link to comment Share on other sites More sharing options...
cybernoid Posted May 24, 2014 Share Posted May 24, 2014 (edited) Credulous and naive banking types taken advantage of by ruthless and sophisticated borrowers? "We never expected them to lie on the mortgage application forms, guv." I didn't borrow more than I could afford to repay and yet I had the same access to the banks. If YOU borrow more than YOU can afford to repay it is YOUR fault. Its a simple thing to be so confused about. Edited May 24, 2014 by cybernoid Quote Link to comment Share on other sites More sharing options...
renting til I die Posted May 24, 2014 Share Posted May 24, 2014 The New Labour Party. The New Tory Party. And don't forget the: Old Labour Party Old Tory Party Quote Link to comment Share on other sites More sharing options...
JonathanR Posted May 24, 2014 Share Posted May 24, 2014 Mortgage Rescue Scheme This is where a housing association will buy a house from someone who is going to get their home repossessed. The housing association then rent the house to the person who was going to have it repossessed. This puts less repossessed houses on the market and so puts positive pressure on house prices. Quote Link to comment Share on other sites More sharing options...
Stop The Ride Posted May 24, 2014 Share Posted May 24, 2014 Means tested benefits ignoring housing assets and boomers rattling around in large houses. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted May 24, 2014 Share Posted May 24, 2014 (edited) Officially Bank bailouts ZIRP Special Liquidity Scheme (SLS) Project Merlin Support for Mortgage Interest (SMI) QE Funding for Lending Help to Buy I Help to Buy II Unofficially Tax breaks for BLT Winter fuel subsidies for elderly people in properties so large they couldn't afford to heat them (downsize then!) Pressure on banks not to repossess, aka forbearance Edited May 24, 2014 by rantnrave Quote Link to comment Share on other sites More sharing options...
Thames Ditton Posted May 24, 2014 Share Posted May 24, 2014 Sorry guys... I know its not a laughing matter ... But this really does sound like the "What have the Romans done for us?" Thread. If you knew the market was as rigged as this would you enter? And if so... Would you be smart enough to play it and win? Or would you just walk away? It's a conundrum Thames Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted May 24, 2014 Share Posted May 24, 2014 Officially Bank bailouts ZIRP Special Liquidity Scheme (SLS) Project Merlin Support for Mortgage Interest (SMI) QE Funding for Lending Help to Buy I Help to Buy II Unofficially Tax breaks for BLT Winter fuel subsidies for elderly people in properties so large they couldn't afford to heat them (downsize then!) Pressure on banks not to repossess, aka forbearance These measures were the right thing to do for the hardworking homeowners of this country Quote Link to comment Share on other sites More sharing options...
Venger Posted May 25, 2014 Share Posted May 25, 2014 If you knew the market was as rigged as this would you enter? And if so... Would you be smart enough to play it and win? Or would you just walk away? It's a conundrum Thames You've only had to look at house prices for 10+ years to walkaway. Apparently someone with hundreds of thousands of pounds of mortgage debt, on a house they chose to buy at 2 or 3 times what my loved ones would pay, is my superior. Learnt that the hard way, with all the excuses and these schemes. All to keep prices propped up for all the other VI. YouTube: Quote Link to comment Share on other sites More sharing options...
Dweller Posted May 25, 2014 Share Posted May 25, 2014 https://uk.finance.yahoo.com/news/property-is-a-bubble-we-need-to-burst-this-is-how-153525355.html?vp=1 Can someone start a thread with this, if I do it will take a day to post! Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted May 25, 2014 Share Posted May 25, 2014 Officially Bank bailouts ZIRP Special Liquidity Scheme (SLS) Project Merlin Support for Mortgage Interest (SMI) QE Funding for Lending Help to Buy I Help to Buy II Unofficially Tax breaks for BLT Winter fuel subsidies for elderly people in properties so large they couldn't afford to heat them (downsize then!) Pressure on banks not to repossess, aka forbearance Councils started using our council tax to underwrite losses for banks, via schemes that were a forerunner to Help to Buy. Shared equity - the reduction in equity props prices up. Some are just 12.5% equity. Increased lending multiples, now back up to over 4 times joint income. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted May 25, 2014 Share Posted May 25, 2014 Allowing banks the freedom to create money out of thin air and lend out the majority of this increase in the money supply against property prices... Quote Link to comment Share on other sites More sharing options...
Stop The Ride Posted May 25, 2014 Share Posted May 25, 2014 Free healthcare for old people. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted May 25, 2014 Share Posted May 25, 2014 Non-means tested winter fuel allowance. Gold plated unfunded pension schemes. Anything that discourages downsizing by making it possible to maintain largely empty and underused properties on retirement incomes. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted May 25, 2014 Share Posted May 25, 2014 Anything that discourages downsizing by making it possible to maintain largely empty and underused properties on retirement incomes. Council tax? Quote Link to comment Share on other sites More sharing options...
wonderpup Posted May 25, 2014 Share Posted May 25, 2014 Allowing banks the freedom to create money out of thin air and lend out the majority of this increase in the money supply against property prices... This is the daddy of them all. Take away the power of the private banks to create money from nothing and house prices would have to reflect the level of savings and incomes in the economy. Quote Link to comment Share on other sites More sharing options...
winkie Posted May 25, 2014 Share Posted May 25, 2014 (edited) Non-means tested winter fuel allowance. Gold plated unfunded pension schemes. Anything that discourages downsizing by making it possible to maintain largely empty and underused properties on retirement incomes. Downsize to what?......all the small places are owned by the buy to leters (in it for the long-term) or are occupied by first time buyers that will be stuck living in them for longer than they hoped or planned.....and why would people who have finally managed to repay their mortgage debt want to move to rent if they don't have to.....what about the thousands of empty property/bedrooms out there, someone owns it...because of the low supply in certain places, maybe they should be encouraged to see that it is ulilised by those that have a demand for it. Edited May 25, 2014 by winkie Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted May 25, 2014 Share Posted May 25, 2014 Council tax? Definitely! Are we listing failures to act here as well? If so the lack of a proper Land Value Tax should be right up there... Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted May 25, 2014 Share Posted May 25, 2014 Downsize to what?......all the small places are owned by the buy to leters (in it for the long-term) or are occupied by first time buyers that will be stuck living in them for longer than they hoped or planned.....and why would people who have finally managed to repay their mortgage debt want to move to rent if they don't have to.....what about the thousands of empty property/bedrooms out there, someone owns it...because of the low supply in certain places, maybe they should be encouraged to see that it is ulilised by those that have a demand for it. I think you just answered your own question - downsize to current FTB properties (noone is going to say "oooh, you're not a FTB, I'm not going to accept your money") and allow young families to upsize and utilize those empty bedrooms, bring supply to market, etc Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted May 25, 2014 Share Posted May 25, 2014 This is the daddy of them all. Take away the power of the private banks to create money from nothing and house prices would have to reflect the level of savings and incomes in the economy. Yes this is definitely the daddy, without it the boom bust cycle would be much smaller and therefore much less of a problem. Quote Link to comment Share on other sites More sharing options...
winkie Posted May 25, 2014 Share Posted May 25, 2014 https://uk.finance.yahoo.com/news/property-is-a-bubble-we-need-to-burst-this-is-how-153525355.html?vp=1 Can someone start a thread with this, if I do it will take a day to post! http://www.housepricecrash.co.uk/forum/index.php?showtopic=198750 Quote Link to comment Share on other sites More sharing options...
Stop The Ride Posted May 25, 2014 Share Posted May 25, 2014 Council tax? Criminalisation of squatting. Quote Link to comment Share on other sites More sharing options...
winkie Posted May 25, 2014 Share Posted May 25, 2014 I think you just answered your own question - downsize to current FTB properties (noone is going to say "oooh, you're not a FTB, I'm not going to accept your money") and allow young families to upsize and utilize those empty bedrooms, bring supply to market, etc So are you saying there are no family properties left to buy?....or are you saying people selling them would make them cheaper for familes to buy?......or are you saying higher taxation LVT or council tax for larger family property will make it cheaper for families to live in and buy?......can't see that working. Quote Link to comment Share on other sites More sharing options...
Stop The Ride Posted May 25, 2014 Share Posted May 25, 2014 Definitely! Are we listing failures to act here as well? If so the lack of a proper Land Value Tax should be right up there... Refusal to repeal and reverse the Enclosure Acts. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted May 25, 2014 Share Posted May 25, 2014 Refusal to repeal and reverse the Enclosure Acts. Lol. Yes, it did start there! Quote Link to comment Share on other sites More sharing options...
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