Jump to content
House Price Crash Forum
Sign in to follow this  
TheCountOfNowhere

Just When You Thought You'd Done The Right Thing Buying A House....

Recommended Posts

"However, voters would be justified in asking whether the chancellor was planning "a fundamental reimagining of the role of the state", Mr Johnson told a briefing in central London on Thursday."

Slightly worrying dont you think.

Nanny state to become Mummy and Daddy state and confiscate your piggy bank ?

Are we now just slaves ?

Share this post


Link to post
Share on other sites

:lol:

The resident anti-HPC forum champagne socialists think these cuts = hpi.

That it means more government spending, with them convinced the country has endless capacity to add more debt onto the books. Kept in hpi paradise... "give them HTB and make employers pay higher wages... pray for wage inflation rather than hpc you younguns.... and I hope my house goes up more in value."

Austerity bad; oh and did I tell you my mate snubbed an offer just below asking price of £750,000 - "because he didn't have to sell."

Share this post


Link to post
Share on other sites

:lol:

Austerity bad; oh and did I tell you my mate snubbed an offer just below asking price of £750,000 - "because he didn't have to sell."

Blimey, are there still crazy people out there pretending the banks will lend them money ?

Keep us posted on your friend.

Share this post


Link to post
Share on other sites

"However, voters would be justified in asking whether the chancellor was planning "a fundamental reimagining of the role of the state", Mr Johnson told a briefing in central London on Thursday."

Slightly worrying dont you think.

Nanny state to become Mummy and Daddy state and confiscate your piggy bank ?

Are we now just slaves ?

It's all BS. After five years of extend and pretend, why would Osborne start cutting now? He's an extravagant and committed Keynesian! A couple of poor quarters and something negative overseas is all the justification he'll need to keep borrowing and spending like Hugo Chavez. The monkeys at the Bank with their deranged general equilibrium models will never deny him the liquidity he needs to keep monetising: debt doesn't matter to them, it's just an accounting entry that sums to zero.

Share this post


Link to post
Share on other sites

It's all BS. After five years of extend and pretend, why would Osborne start cutting now? He's an extravagant and committed Keynesian! A couple of poor quarters and something negative overseas is all the justification he'll need to keep borrowing and spending like Hugo Chavez. The monkeys at the Bank with their deranged general equilibrium models will never deny him the liquidity he needs to keep monetising: debt doesn't matter to them, it's just an accounting entry that sums to zero.

Maybe the banks have given him the nod after just about enough offloading into Bubble 2.0, to the yield chasers / the BTL "it's not earning anything in the bank" masses, the "house price crashes only last 18 months and then their are bailouts because older people vote".

Homeowners have too much dead money equity in their homes, that is of very little use to the banks. If you were a banker what good is it to have loads of oldies smugged-out on what their outright owned homes are worth? Better for the banks to get loads of new mortgages. It's not 50% loss to the banks (although existing mortgage-to-solvency position tested).. it's 50% loss on homeowner's equity... too many of who will still be well ahead with such a crash

Henry: "It's multiplied in value by x70 since I bought it." Guardian reported fewer than 2 in 5 homeowners have property debt (although I find that hard to believe.... doesn't make me want to go out and get jumbo mortgage when older owners bought for a pittance and most carrying little mortgage debt.).

26 November 2014

The total value of the UK's housing stock is now £5.06 trillion, according to Halifax.

And it's grown in value by 57% over the past 10 years, the bank says.

That equates to an average £79,262 rise in the value of each UK household in the past decade.

This growth has significantly outstripped the cost of living, with the Retail Prices Index measure of inflation up 37% over the same period.

Major growth in last year

Interestingly a third of the total rise in the last decade has come in the past year alone.

Over the last 12 months the value of the UK’s private housing stock has grown 14% or £630 billion – the fastest annual growth since 2002.

Regionally, London and the south east accounted for more than half of the total growth recorded in this time, with values rising £217 billion and £123 billion respectively.

[..]UK households today are worth £3.76 trillion more than the total value of outstanding mortgage debt. This is the equivalent to an average of £162,510 worth of equity per household in the UK.

On average the highest amounts of housing equity is found in London where it totals £820 billion – equivalent to £313,466 per household.

in full http://home.bt.com/lifestyle/money/mortgages-bills/value-of-uk-homes-passes-5-trillion-11363945577432

May 2013

1. Fewer than two in five UK households have property debt

The UK might have a reputation as a nation of mortgage slaves – interest rates are often reported as if that's the case – but that's not the reality. The ONS figures reveal 9.2 million UK households had property debt in 2008/10 – that's 37.3% of the total.

http://www.theguardian.com/news/datablog/2013/may/13/mortgages-property-debt-uk-trends

Friday 29 November 2013

The governor of the Bank of England has issued a blunt warning to potential home-owners that they must be able to pay their mortgages when interest rates go up and not rely on being bailed out of any future difficulties by rising house prices.

In an interview with the Guardian, Mark Carney said on Friday that Threadneedle Street's decision to rein in mortgage lending was designed to head off a boom-bust in the property market at an early stage and avoid drastic policy action in the event of a bubble.

"Think about the mortgage you are taking on, the debts you are taking on," Carney said when asked what his message was to those aspiring to get on the housing ladder. "You are taking at least a 25-year mortgage, maybe a 30-year mortgage.

"Are you going to be able to service that mortgage five years from now, 10 years from now, if interest rates are higher? Or are you counting, even subconsciously, on the price of your house keeping going up and if something happens an ability to sell it quickly and not facing the consequences of not being able to pay?"

http://www.theguardian.com/business/2013/nov/29/mark-carney-bank-of-england-home-buyer-warning

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   217 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.