MarkG Posted October 7, 2020 Share Posted October 7, 2020 The moon If Elon Musk is to be believed, it will soon be cheaper to buy a flight to Mars than a starter home in the UK. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted October 7, 2020 Share Posted October 7, 2020 Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 7, 2020 Share Posted October 7, 2020 To show that a 95% mortgage isnt an issue: FTBer has a household income of 50k. They want to buy a 150k house. They only have a 7k deposit. This would be exceptional- the cost of high LTV (90%_) v lower LTV (under 80%) means it make sense to get a bigger deposit as poss However a bank would, current lending lockdown aside, be happy to lend them 143k a mortgage and take their higher loan payments. The issue is when someone wants a 95% mortgage *AND*have a high (4.5+) LTE ratio. Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 7, 2020 Share Posted October 7, 2020 The guts (MA) is a moron/liar - 'This all comes from 30 years ago when too much money chased too many homes' There was no problem by the early 90s. By then, the bubble had been burst and banks were lending little. The problems the UK has come from 2002-2008. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 7, 2020 Author Share Posted October 7, 2020 do you believe one of the reasons they want to get rid of the 'stress test" because they know that interest rates will never go up again? effectively the 'stress test' is pointless? It suits the govt to think that, but it may not be true https://books.google.co.uk/books/about/The_Great_Demographic_Reversal.html?id=rEz2DwAAQBAJ&printsec=frontcover&source=kp_read_button&redir_esc=y Quote Link to comment Share on other sites More sharing options...
longgone Posted October 7, 2020 Share Posted October 7, 2020 5 hours ago, MarkG said: If Elon Musk is to be believed, it will soon be cheaper to buy a flight to Mars than a starter home in the UK. maybe when he can build a car properly. tesla is good for shares just not he bland boring poorly screwed together over priced products they churn out. bit like apple really. 😂 Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 7, 2020 Share Posted October 7, 2020 If Elon Musk is to be believed, it will soon be cheaper to buy a flight to Mars than a starter home in the UK. Are there any good pubs on Mars ? Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 7, 2020 Share Posted October 7, 2020 I think the market would get going faster without all those coffin dodgers rattling around in large family homes, being subsidised to do so. And that's related. all the older folk I know who own a house have paid their mortgage off. They have the right to stay in a house they own for as long as they wish. That article annoyed me. suprised Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 7, 2020 Share Posted October 7, 2020 rattling around in large family homes, being subsidised social housing is subsided Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 7, 2020 Share Posted October 7, 2020 Concentrate on something other than home ownership for a bit. F**k UK gov, f**k housing and f**k any parasitic thought that's sucking the life out of you. Property should not be what anyone is obsessed with a house is just a place to live in. what is important is family and friends and hobbies that you enjoy doing. Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 7, 2020 Share Posted October 7, 2020 I couldn't agree more. I'd just like to add, turn off the news. Simply stop absorbing news. Stop looking at Worldometers. Stop reading fakebook and Twatter. It's incredible how quickly you begin feeling better, and how much focus then goes onto the things you enjoy in life. Agree - FB and twit is full of self entitled politically correct snowflakes Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 7, 2020 Author Share Posted October 7, 2020 all the older folk I know who own a house have paid their mortgage off. They have the right to stay in a house they own for as long as they wish. suprised Straw man. You're embarrassing yourself as usual. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 7, 2020 Share Posted October 7, 2020 They have the right to stay in a house they own for as long as they wish. Or until they can no longer afford to eat or pay council tax, then they have to sell. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 7, 2020 Author Share Posted October 7, 2020 Or until they can no longer afford to eat or pay council tax, then they have to sell. Nah they get the triple lock pension and failing that pension credit. After all they earned it. Somehow. Quote Link to comment Share on other sites More sharing options...
richmondtw Posted October 8, 2020 Share Posted October 8, 2020 Or until they can no longer afford to eat or pay council tax, then they have to sell. FGS Straw man. You're embarrassing yourself as usual. No you are . I think you wuill ind that no one can make them leave Sam e as when you buy a house you can stay in it if you want to :() Quote Link to comment Share on other sites More sharing options...
byron78 Posted October 11, 2020 Share Posted October 11, 2020 On 04/10/2020 at 10:15, goldbug9999 said: So what are people going to do then - vote labour ?? the same labour party who kicked off the house price boom and stoked it for 15 years by deregulating buy to let lending, the labour party who first sanctioned QE to prop up asset prices for the wealthy, the labour party who presided over the slashing of interest rates to bail out home owners etc etc etc. I can vote Labour and have high house prices AND even more crushing levels of taxation ! great, when do we start. That's more like it. Good little prole. Don't worry. We'll be along to crash your gold prices soon. Quote Link to comment Share on other sites More sharing options...
byron78 Posted October 11, 2020 Share Posted October 11, 2020 Four I think. "Jeremy Corbyn" needs to be added too. Now there's a man who actually would have crashed the housing market. Dangerous dangerous man (if you've already got wealth). Quote Link to comment Share on other sites More sharing options...
rantnrave Posted October 16, 2020 Share Posted October 16, 2020 Mortgages and loans to become tougher to get, lenders say https://propertyindustryeye.com/mortgages-and-loans-to-become-tougher-to-get-lenders-say/ Homeowners face difficulty remortgaging https://propertyindustryeye.com/homeowners-face-difficulty-remortgaging/ Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 25, 2020 Author Share Posted October 25, 2020 Not heard much about this recently... Quote Link to comment Share on other sites More sharing options...
Will! Posted October 25, 2020 Share Posted October 25, 2020 Mr Johnson has asked ministers to work up plans for encouraging long-term fixed-rate mortgages with five per cent deposits. They are likely to involve reversing regulatory changes made in the wake of the financial crash that have required banks to stress-test applicants. By removing stress tests, banks would be able to offer 95 per cent loans, as was the norm 15 years ago. The possibility of the government reversing the MMR changes does worry me. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 25, 2020 Author Share Posted October 25, 2020 The possibility of the government reversing the MMR changes does worry me. That's not govt business. It's the BoE. That's what makes it sound somewhat unconvincing. Quote Link to comment Share on other sites More sharing options...
Timm Posted October 25, 2020 Share Posted October 25, 2020 It suits the govt to think that, but it may not be true https://books.google.co.uk/books/about/The_Great_Demographic_Reversal.html?id=rEz2DwAAQBAJ&printsec=frontcover&source=kp_read_button&redir_esc=y A main theme of that book is a big rise in the elderly (and dependant) generation. That may or may not happen. Quote Link to comment Share on other sites More sharing options...
markyh Posted October 25, 2020 Share Posted October 25, 2020 The guts (MA) is a moron/liar - 'This all comes from 30 years ago when too much money chased too many homes' There was no problem by the early 90s. By then, the bubble had been burst and banks were lending little. The problems the UK has come from 2002-2008. I would say 2000, it started rising. slowly, into a full blown riot come 2002 Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 25, 2020 Author Share Posted October 25, 2020 I would say 2000, it started rising. slowly, into a full blown riot come 2002 The global IR drops following the September 11 attacks put nitroglycerin under the bubble. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 25, 2020 Author Share Posted October 25, 2020 A main theme of that book is a big rise in the elderly (and dependant) generation. That may or may not happen. Demographics, particularly of older cohorts, do appear to be pretty predictable. I think the whole problem from an economic prediction perspective is that they generally don't accommodate demographics on their analyses/ models. Of course you can't model everything, models are a necessary simplification of reality. Quote Link to comment Share on other sites More sharing options...
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