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Bruce Banner

Home ownership has risen for the first time in 30 years - BBC

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https://www.bbc.co.uk/news/business-46649565

 

Not sure if you are referring to this propaganda being put out by the BBC which I just had to share. If ever I thought that the BBC's job was to send out it's own narrative on housing it is now, and I found the BBC to be now so much more of a mouthpiece for someone I am not totally sure who it is yet. 

The message to young people is the "RIGHT" thing to do is sacrifice, borrow huge debt, to those taxpayers paying for the schemes is that it is worthwhile to be part of their dream, say anything as long as they are not critical of a housing system that we all know is broken, never anything about building more homes.

Seriously this is the most deplorable thing I have seen the BBC do, I don't trust any of the brainwashing messages they send out, liberalism and being a  leftie is the new fascism in the UK

Edited by localhero1983

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If landlords are leaving the market the number of homeowners will inevitably increase, because homes have to belong to someone.

There’s been a suggestion recently that landlords are leaving, although I don’t know how solid the actual evidence is, and this would be consistent with that.

Edited by BorrowToLeech

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I mentioned this elsewhere. I did notice a small but noticeable increase in landlords selling, particularly typical FTB homes, like 2 bed terraced houses. And these types of houses are leading the price fall.

We can talk for eternity about whether the young should buy now or not, but the reality is, and I genuinely believe, that FTB demand is so strong that the only things holding it back, perversely, are the limit of government subsidies and how much the banks would lend. So if the government went for HTB for all houses (not just new) or the banks went for 10 x annual income, the young would buy it without batting an eye lid.

Which is why I do not think there will be a big crash before 2023 when HTB (hoefully) is withdrawn. 

And the question for HPCer is that whether you want to put your life on hold for another 5 years.   

 

 

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2 minutes ago, peter_2008 said:

 the reality is, and I genuinely believe, that FTB demand is so strong that the only things holding it back, 

Wow

You genuinely believe

That's amazing

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6 minutes ago, peter_2008 said:

I mentioned this elsewhere. I did notice a small but noticeable increase in landlords selling, particularly typical FTB homes, like 2 bed terraced houses. And these types of houses are leading the price fall.

We can talk for eternity about whether the young should buy now or not, but the reality is, and I genuinely believe, that FTB demand is so strong that the only things holding it back, perversely, are the limit of government subsidies and how much the banks would lend. So if the government went for HTB for all houses (not just new) or the banks went for 10 x annual income, the young would buy it without batting an eye lid.

Which is why I do not think there will be a big crash before 2023 when HTB (hoefully) is withdrawn. 

And the question for HPCer is that whether you want to put your life on hold for another 5 years.   

 

 

Life on hold :rolleyes:.

 

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Just now, Bruce Banner said:

Life on hold :rolleyes:.

 

I know.

I popped a balloon when I saw that one.

Great that there are still EAs on hpc though heh.

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Ah Life on Hold once again.  Somehow renting prevents you from living. 

Sure. 

Rather rent for a few more years than participate in this banana republic / lifetime of crippling debt / housing ladder.  With things as they are right now and a skill set that's in global demand, I'm feeling rather good about having my "life on hold" :-)

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2 minutes ago, btd1981 said:

Renting doesn't prevent you from living, but you may die a little bit on the inside.

No

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1 minute ago, Bruce Banner said:

 

 

2 minutes ago, btd1981 said:

Because it's a bit rubbish being someone's mortgage bitch.

Being financially illiterate is worse

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1 minute ago, Bruce Banner said:

And another one.... "paying your landlord's mortgage"...

Be careful what your wish for!

(Doh)

Edited by Si1

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Taking on so much debt that you will have your face in your hands at 3 AM in the early hours for 50% of your mortgaged life worrying, as workers and as taxpayers paying for uneducated  non working mothers with 4 kids you will struggle to find the right time to have your own  children.You will hand over such a high percentage of your working wages to live in what so many Housing Benefit claimants have for free.

Oh yes, the magic of homeownership they try hard to sell, I personally see them playing mind games with young people by saying better get in there before you are left behind.

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5 minutes ago, localhero1983 said:

Taking on so much debt that you will have your face in your hands at 3 AM in the early hours for 50% of your mortgaged life worrying, as workers and as taxpayers paying for uneducated  non working mothers with 4 kids you will struggle to find the right time to have your own  children.You will hand over such a high percentage of your working wages to live in what so many Housing Benefit claimants have for free.

Oh yes, the magic of homeownership they try hard to sell, I personally see them playing mind games with young people by saying better get in there before you are left behind.

I spent about half of the last decade awake at three in the morning stressing about paying just shy of ten grand per year to live in a house that was increasing in cost by about ten grand a year.  Must admit that this did not make me feel particularly financially literate at the time.

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4 minutes ago, btd1981 said:

.  Must admit that this did not make me feel particularly financially literate at the time.

That's because you're not.

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1 hour ago, peter_2008 said:

5 years

 

 

That will give me enough time to find a poorly paid job.  if i put it on hold long enough i will never need one. 

Win Win.  

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4 minutes ago, Si1 said:

That's because you're not.

Of that there is no doubt. But the point was that renting is a bit rubbish. It just is. I once got charged about 200 quid to re-surface a driveway after one of my cars developed an oil leak. If I owned the place I just wouldn't have given a crp. That sense that you're always on the hook for something just niggles away.

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4 minutes ago, btd1981 said:

Of that there is no doubt. But the point was that renting is a bit rubbish. It just is. I once got charged about 200 quid to re-surface a driveway after one of my cars developed an oil leak. If I owned the place I just wouldn't have given a crp. That sense that you're always on the hook for something just niggles away.

What did your legal advisor say?

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  • 293 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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