Si1 Posted January 22, 2023 Share Posted January 22, 2023 10 hours ago, btd1981 said: "The school run will take 30 to 40 minutes longer, but the improved standard of living will be worth it" There's your standard of living out of the window right there. "Longer" How much time do they plan to spend in a car every day?? Gorgeous massive house that you just sleep in and hold dinner parties at the weekends. At least the weekends when you're not forced to work overtime. Quote Link to comment Share on other sites More sharing options...
MrMonkey Posted January 22, 2023 Share Posted January 22, 2023 Values go up: "I am a very canny Investor" Values go down: "Government have screwed me over" Quote Link to comment Share on other sites More sharing options...
Clarky Cat Posted January 22, 2023 Share Posted January 22, 2023 3 hours ago, Si1 said: I'm pretty sure you could find examples on Mumsnet and even the mainstream press of people whingeing the bank wouldn't lend them enough. And here we are: https://www.theguardian.com/money/2019/dec/23/how-can-we-get-a-mortgage-thats-more-than-35-times-our-income That example is great as it fits perfectly with the first couple in the 2023 article 1) couple with 2 children, modest household income, In good position being mortgage free in £400k house. Want to move to £700k+ house 2) couple with 2 children, modest incomes, moved from smaller house with large amount of equity to £700k house. Now struggling. Quote Link to comment Share on other sites More sharing options...
bartelbe Posted January 22, 2023 Share Posted January 22, 2023 3 hours ago, MrMonkey said: Values go up: "I am a very canny Investor" Values go down: "Government have screwed me over" That isn't just property owners, look at the bankers and the rich. Before the 2008 crashed they justified tax evasion by saying they took massive risks, therefore deserved their reward. They were wealth creators. When it turned out they were wealth destroyers, they demanded and got a massive taxpayer funded bailout. Funded from the very pot they refused to pay into. Property owners fought tooth and nail against their gains being taxed during the bubble years, they shouldn't get to draw out of the taxpayer pot they refused to pay into now. Quote Link to comment Share on other sites More sharing options...
TenYearToGetMyMoneyBack Posted January 22, 2023 Share Posted January 22, 2023 3 hours ago, Si1 said: https://www.theguardian.com/money/2019/dec/23/how-can-we-get-a-mortgage-thats-more-than-35-times-our-income 35 times our income ! That will be some of the BTL landlords with a property empire. Quote Link to comment Share on other sites More sharing options...
micawber Posted January 22, 2023 Share Posted January 22, 2023 "But the main hurdle in getting any kind of mortgage is showing that you can afford it and also that you could continue to afford it if interest rates went up. " Pretty good advice in 2019 Quote Link to comment Share on other sites More sharing options...
sta100 Posted January 22, 2023 Share Posted January 22, 2023 4 hours ago, bartelbe said: Property owners fought tooth and nail against their gains being taxed during the bubble years, they shouldn't get to draw out of the taxpayer pot they refused to pay into now. This Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted January 22, 2023 Share Posted January 22, 2023 (edited) 19 hours ago, Bob8 said: I think this is the divide. You see a house price crash coming with working people getting poorer and put in their place as morally overdue. Others think houses should be more affordable to ordinary people. I just accept the reality - the only way we can make housing affordable for future generations is for people who have bought in recent years to take a hit. Of course if they carry on paying their mortgage they will keep their home - but they shouldn't assume buying a house means guaranteed riches via house price inflation for ever more. Exactly what happened in the early 1990s - but then got lost post 1997. I don't think you can deliver what this website is named for - without winners and losers. Edited January 22, 2023 by MARTINX9 Quote Link to comment Share on other sites More sharing options...
bartelbe Posted January 22, 2023 Share Posted January 22, 2023 4 minutes ago, MARTINX9 said: I just accept the reality - the only way we can make housing affordable for future generations is for people who have bought in recent years to take a hit. Of course if they carry on paying their mortgage they will keep their home - but they shouldn't assume buying a house means guaranteed riches via house price inflation for ever more. Exactly what happened in the early 1990s - but then got lost post 1997. I don't think you can deliver what this website is named for - without winners and losers. The problem is, those who have benefited from house price inflation think it is free money, with no costs to anyone else. In reality it is anything but. Those inflation gains have priced an entire generation out of the housing market or burdened them with crippling debts. Maintaining the bubble isn't an option which is pain free, it just hits a different group of people. Quote Link to comment Share on other sites More sharing options...
Twenty Something Posted January 22, 2023 Share Posted January 22, 2023 8 hours ago, MrMonkey said: Values go up: "I am a very canny Investor" Values go down: "Government have screwed me over" HPC forum version: Values go up: "Government have screwed me over" Values go down: "I am a very canny Investor" Quote Link to comment Share on other sites More sharing options...
Gbob Posted January 22, 2023 Share Posted January 22, 2023 " she made more than 20 offers on houses, but kept getting outbid by £50,000 to £75,000. " Some people really need to learn when to walk away. Regarding unaffordable mortgages, I can see this being the next big mis-selling scandal. There was even an advert on the radio last week: "do you think you might have been mis-sold a time share holiday home in the last twenty years?" Those vacant PPI call centres have got to be filled somehow. Quote Link to comment Share on other sites More sharing options...
HousePriceTooHigh Posted January 22, 2023 Share Posted January 22, 2023 Quote Barbara and John put their home on the market last month, and have already had to reduce the price. “We are likely now to make a loss upon sale. We are so angry and upset with the government that we have ended up here.” Quote “When we bought, it was inconceivable to me that interest rates would be going up this much. I’m not sure we’d be able to weather another big financial change. Retrospectively, I feel it was quite irresponsible for the bank to lend us this much, and I know they would have lent us more.” Absolutely pathetic attitudes. Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted January 22, 2023 Share Posted January 22, 2023 On 21/01/2023 at 17:56, Smith said: Barbara and John put their home on the market last month, and have already had to reduce the price. “We are likely now to make a loss upon sale. We are so angry and upset with the government that we have ended up here.” ****** sake What about the poor bastards who live where they have bought and could not bid that high. I guess Babs and John want them to pick up the tab Quote Link to comment Share on other sites More sharing options...
Bob8 Posted January 22, 2023 Share Posted January 22, 2023 3 hours ago, Twenty Something said: HPC forum version: Values go up: "Government have screwed me over" Values go down: "I am a very canny Investor" Very good! Quote Link to comment Share on other sites More sharing options...
Homeless Millionaire Posted January 22, 2023 Share Posted January 22, 2023 Bonfire of the vanities 😉 Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted January 22, 2023 Share Posted January 22, 2023 Stopped reading after the first couples whining. But did any of the people mention the possibility of losing their job? Quote Link to comment Share on other sites More sharing options...
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