Bruce Banner Posted December 22, 2018 Share Posted December 22, 2018 Home ownership has risen for the first time in 30 years, according to BBC News. Reasons given were low interest rates, Help to Buy and stamp duty changes. I can't find a link yet. Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 22, 2018 Share Posted December 22, 2018 (edited) 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 December 22, 2018 by localhero1983 Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted December 22, 2018 Author Share Posted December 22, 2018 A couple of papers have the story.. https://www.thesun.co.uk/money/8042198/surge-young-people-owning-homes/ https://www.dailymail.co.uk/news/article-6522001/Home-ownership-young-parents-aged-25-34-rise.html And a BBC link.. https://www.bbc.co.uk/news/business-46649565 Conservative propaganda story? Quote Link to comment Share on other sites More sharing options...
longgone Posted December 22, 2018 Share Posted December 22, 2018 I like how they think the buying of the property is the most important aspect not the keeping an income for the next 30 years to pay for it. Quote Link to comment Share on other sites More sharing options...
BorrowToLeech Posted December 22, 2018 Share Posted December 22, 2018 (edited) 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 December 22, 2018 by BorrowToLeech Quote Link to comment Share on other sites More sharing options...
peter_2008 Posted December 22, 2018 Share Posted December 22, 2018 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.     Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 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 Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 Oh my don't want to put your life on hold! No siree! I love a cliché. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted December 22, 2018 Author Share Posted December 22, 2018 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 .  Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 Just now, Bruce Banner said: Life on hold .  I know. I popped a balloon when I saw that one. Great that there are still EAs on hpc though heh. Quote Link to comment Share on other sites More sharing options...
blackhole Posted December 22, 2018 Share Posted December 22, 2018 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" :-) Quote Link to comment Share on other sites More sharing options...
btd1981 Posted December 22, 2018 Share Posted December 22, 2018 Renting doesn't prevent you from living, but you may die a little bit on the inside. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted December 22, 2018 Author Share Posted December 22, 2018 Just now, btd1981 said: Renting doesn't prevent you from living, but you may die a little bit on the inside. Why's that? Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 2 minutes ago, btd1981 said: Renting doesn't prevent you from living, but you may die a little bit on the inside. No Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted December 22, 2018 Author Share Posted December 22, 2018 They all come out of the woodwork when there's a "good news story" to "get behind"...... Even when it isn't... LOL Quote Link to comment Share on other sites More sharing options...
btd1981 Posted December 22, 2018 Share Posted December 22, 2018 Because it's a bit rubbish being someone's mortgage bitch. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted December 22, 2018 Author Share Posted December 22, 2018 1 minute ago, btd1981 said: Because it's a bit rubbish being someone's mortgage bitch. And another one.... "paying your landlord's mortgage"... Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 1 minute ago, Bruce Banner said: Â Â 2 minutes ago, btd1981 said: Because it's a bit rubbish being someone's mortgage bitch. Being financially illiterate is worse Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 (edited) 1 minute ago, Bruce Banner said: And another one.... "paying your landlord's mortgage"... Be careful what your wish for! (Doh) Edited December 22, 2018 by Si1 Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 22, 2018 Share Posted December 22, 2018 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. Quote Link to comment Share on other sites More sharing options...
btd1981 Posted December 22, 2018 Share Posted December 22, 2018 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. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 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. Quote Link to comment Share on other sites More sharing options...
longgone Posted December 22, 2018 Share Posted December 22, 2018 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.  Quote Link to comment Share on other sites More sharing options...
btd1981 Posted December 22, 2018 Share Posted December 22, 2018 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. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 22, 2018 Share Posted December 22, 2018 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? Quote Link to comment Share on other sites More sharing options...
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