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sexton

Get a mortgage! Even though you may die soon.

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Not sure your headline fits the article, the thrust of which seems to be that some are already / see themselves as past the point of no return and will increasingly pressure government for reforms to the rental market.

I do however acknowledge that government may well seek to remedy the issue by insisting older people are allowed mortgages.

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2 minutes ago, Sledgehead said:

Not sure your headline fits the article, the thrust of which seems to be that some are already / see themselves as past the point of no return and will increasingly pressure government for reforms to the rental market.

I do however acknowledge that government may well seek to remedy the issue by insisting older people are allowed mortgages.

Imagine the scenes at future Readings of Wills. "Your inheritance includes the keys to a lovely little new-ish semi-D in a swamp near Sellafield, in a new development for First-Time Buyers in one of our new Garden Villages its called - "Newtown-Built-Especially-To-Keep-Boomers-Proper-Houses-In-Actual-Towns-At-A-Decent-Big-Price-ton". And the deceased are passing you their mortgage for seventy five squillion pounds. 

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6 minutes ago, Sledgehead said:

I made no judgment of the desirability or otherwise of any supposed changes, merely a comment on an unevidenced supposition.

Fair point. I'm just observing through comedy the suspicion that any changes will likely be brought in to Maintain Big House Prices for Boomers Who Deserve It.

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There's this assumption that you have to get a mortgage by a certain age so as to pay it off in time.

If the ROI of the given house is poor though it may cost you a whole lot more then renting. Shoddy numeracy.

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16 hours ago, Thorn said:

Fair point. I'm just observing through comedy the suspicion that any changes will likely be brought in to Maintain Big House Prices for Boomers Who Deserve It.

I think you're being a bit harsh. If more people rent then that will reduce the pool of people who can buy (precisely what we have observed and precisely what one would expect). If (buying) demand is less then prices would be inclined to fall not rise. Putting it another way you could say that the more people who have to rent the more likely is an HPC because demand is removed from the house "buying" market which may be a different segment.

Now of course BTL demand pushes the market up generally whereas lower "buying" demand tends to bring it down as I've said. It's an interesting point that there may be different market segments which are inevitably hidden in general indices which fail to disclose this sort of issue; in other words is the BTL market the sub 3 bedroom property(renters) whereas the OO (the hated boomers) is 3 bedrooms and up; the market being up generally but in effect the segments moving in different directions because the one is cannibalising demand from the other?

Sledghead has said correctly that the article is more about the penalties of passing the point of no return.

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  • 406 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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