iamnumerate Posted January 2, 2018 Share Posted January 2, 2018 On 12/31/2017 at 2:20 PM, Bear Hug said: Unless you are on benefits. It's as if the government is practicing reverse Eugenics. +1 to both of you. On 12/31/2017 at 2:30 PM, Parkwell said: Idiocracy. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted January 2, 2018 Share Posted January 2, 2018 On 30/12/2017 at 10:29 PM, Noallegiance said: Just saw a quite astounding piece of property-ganda on the 10pm BBC news. It related to the 'study' that 'shows' millenials stand to inherit the biggest amount of wealth ever: http://www.bbc.co.uk/news/uk-42519073 The tellybox told me that the majority of the wealth is due to house prices having risen so much. So, a front-and-centre news piece put together for millions watching gives yet another reason why house prices can't be allowed to fall. It makes the current owners rich, and the future holders of the wealth rich, too! Can this sh1t just end now, please. We can't be that collectively thick any more... It’s all about train fare rises over at the beeb Quote Link to comment Share on other sites More sharing options...
TryingToWin Posted January 2, 2018 Share Posted January 2, 2018 10 hours ago, scb said: (I’m 33) (I’m lucky my dad has always got it and actually talked me out of buying a house when I finished uni). What kind of madness is this? Not buying was a terrible decision :/ we know that now. I put off buying for a long time and from 2013 i started going balls deep (for my modest income level) in BTL and even with my late entry its been good to me. If you had bought over 10 years ago you'd be onto a winner. Quote Link to comment Share on other sites More sharing options...
scb Posted January 2, 2018 Share Posted January 2, 2018 3 minutes ago, TryingToWin said: What kind of madness is this? Not buying was a terrible decision :/ we know that now. I put off buying for a long time and from 2013 i started going balls deep (for my modest income level) in BTL and even with my late entry its been good to me. If you had bought over 10 years ago you'd be onto a winner. He was right, wasn't his fault the system has been rigged since then. Housing was too expensive in 2007 when I finished uni and in any normal society would have crashed. TBH, the way my life has gone and the way I've moved around the country in the ensuing 10 years owning a house would have got in the way. I don't regret that decision for a second. As it is, home is South Wales. According to Nationwide Q2 2008 to Q3 2017 saw a 4.77% rise in house price inflation. I've hardly lost out! The West Midlands where I lived after uni, 17% a bit more but by the time I paid buying/selling costs at least twice as I move around that would have been wiped out. Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted January 2, 2018 Share Posted January 2, 2018 4 minutes ago, scb said: He was right, wasn't his fault the system has been rigged since then. +1 Anything other than acknowledging the Market has been rigged is deluded thinking. Quote Link to comment Share on other sites More sharing options...
TryingToWin Posted January 2, 2018 Share Posted January 2, 2018 You are right it is very location dependant. The SE in general has been crazy. Quote Link to comment Share on other sites More sharing options...
Locke Posted January 2, 2018 Share Posted January 2, 2018 So what happens if you get passed a £2m house and then the market crashes half a year later? Do you get IHT'd on the £2m or the £300k market value? Quote Link to comment Share on other sites More sharing options...
Locke Posted January 2, 2018 Share Posted January 2, 2018 On 12/31/2017 at 2:20 PM, Bear Hug said: Unless you are on benefits. It's as if the government is practicing reverse Eugenics. The word is dysgenics Kalergi Plan. Quote Link to comment Share on other sites More sharing options...
RentingForever Posted January 2, 2018 Share Posted January 2, 2018 14 minutes ago, Locke said: So what happens if you get passed a £2m house and then the market crashes half a year later? Do you get IHT'd on the £2m or the £300k market value? IHT is on the market value when probate is granted. Quote Link to comment Share on other sites More sharing options...
Locke Posted January 2, 2018 Share Posted January 2, 2018 38 minutes ago, RentingForever said: IHT is on the market value when probate is granted. Ouch. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 2, 2018 Share Posted January 2, 2018 On 30/12/2017 at 10:28 AM, Bruce Banner said: Millennials to enjoy 'inheritance boom' http://www.bbc.co.uk/news/uk-42519073 Quote Link to comment Share on other sites More sharing options...
Wayward Posted January 2, 2018 Share Posted January 2, 2018 All is well in the world..record inheritance...for dullards this is warming news. But what is the real inheritance....? answer is an inadequate and poor quality housing stock. That is the inheritance. Also this presupposes that other young people will pay these high prices which is very questionable but assuming they do what this means is that wealth is simply shifting from one group of young people to another. So the inheritance is terrible inequality. Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted January 2, 2018 Share Posted January 2, 2018 8 hours ago, RentingForever said: IHT is on the market value when probate is granted. Is that using Righmove asking price data?!! Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted January 4, 2018 Share Posted January 4, 2018 https://www.reddit.com/r/WhitePeopleTwitter/comments/7o2d61/a_strong_contender_for_tweet_of_the_year_already/ Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted January 5, 2018 Share Posted January 5, 2018 The UK is turning into a comedy sketch of a country imo. Housing seems to be a massive issue, even though the fix is quite straightforward. The reason we have the current crisis is because too many vested interests want housing costs kept ridiculously high because, like has been said, it's a PONZI scheme. Unfortunately for the vested interests the supply of new suckers is drying up, as younger people refuse to play the game. The housing bubble will probably destroy the whole country when it goes pop, as it will bankrupt just about everyone with mortgages and debt. Oh well. Good is my answer to that. Quote Link to comment Share on other sites More sharing options...
happyguy Posted January 5, 2018 Share Posted January 5, 2018 He was right, wasn't his fault the system has been rigged since then. +1 Anything other than acknowledging the Market has been rigged is deluded thinking. The reason why is irrelevant now - the fact is he would have been better off buying in 2003 Quote Link to comment Share on other sites More sharing options...
frankvw Posted January 5, 2018 Share Posted January 5, 2018 5 hours ago, Social Justice League said: The UK is turning into a comedy sketch of a country imo. Housing seems to be a massive issue, even though the fix is quite straightforward. The reason we have the current crisis is because too many vested interests want housing costs kept ridiculously high because, like has been said, it's a PONZI scheme. Unfortunately for the vested interests the supply of new suckers is drying up, as younger people refuse to play the game. The housing bubble will probably destroy the whole country when it goes pop, as it will bankrupt just about everyone with mortgages and debt. Oh well. Good is my answer to that. The interesting caveat I would add is that, for the first time, there are more non-mortgaged households than mortgaged households in the UK according to the last ONS statistics (Of the 14.3m who own their house, 7.4m owned outright, compared to 6.9m who bought with a mortgage, 2016. It is generally thought to have risen further since then). Also, of the mortgaged figure, around 65% have outstanding mortgages around a quarter or less of the outstanding debt. That could make the margins far more volatile and explain record low transactions but the fact is, even in a massive HPC, it would affect a relatively small percentage of the UK population. Apart from the 'feel good factor' vital to the general election campaigns and political party policy. It's interesting to predict what affect an HPC might have on the wider economy. It may not necessarily affect most home owners or owner occupiers but BoE and treasury policy pretty much requires high house prices for a long time to keep the mortgage banks balance sheets in a solvent position. Sudden, sharp falls even now, a decade after the bailouts, could still bring down several high street banks. Drag it out for another decade with a stagnating economy? Maybe not. That would be a BoE/Treasury preferred route. Its all about the Bank Balance sheets. Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted January 5, 2018 Share Posted January 5, 2018 2 hours ago, frankvw said: The interesting caveat I would add is that, for the first time, there are more non-mortgaged households than mortgaged households in the UK according to the last ONS statistics (Of the 14.3m who own their house, 7.4m owned outright, compared to 6.9m who bought with a mortgage, 2016. It is generally thought to have risen further since then). Also, of the mortgaged figure, around 65% have outstanding mortgages around a quarter or less of the outstanding debt. That could make the margins far more volatile and explain record low transactions but the fact is, even in a massive HPC, it would affect a relatively small percentage of the UK population. Apart from the 'feel good factor' vital to the general election campaigns and political party policy. It's interesting to predict what affect an HPC might have on the wider economy. It may not necessarily affect most home owners or owner occupiers but BoE and treasury policy pretty much requires high house prices for a long time to keep the mortgage banks balance sheets in a solvent position. Sudden, sharp falls even now, a decade after the bailouts, could still bring down several high street banks. Drag it out for another decade with a stagnating economy? Maybe not. That would be a BoE/Treasury preferred route. Its all about the Bank Balance sheets. Very interesting post. I've never looked at it completely in those terms. So the banks have effectively computerised a mortgaged property to support their non-property related activity. No wonder 'build more' is the cry. Also, it sounds like practice for the ACChain, where everything gets treated as an electronic asset to be traded. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.