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Maybe Owning A Home Is Not For Everyone


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Guest wrongmove

Maybe owning a home is not for everyone

"The idea that everyone should be a property-owner has much to commend it. There is a long and distinguished tradition in the English-speaking world of seeing individual liberty and property-ownership as intertwined.

In his Two Treatises of Government, John Locke observed that "the great and chief end… of Men's uniting into Commonwealths… is the preservation of their Property". In both the United Kingdom and the United States, property ownership was the original basis for the right to vote.

In the 19th century, democratisation meant giving the vote to people who were propertyless. It was not until the 20th century that people began to dream of a society in which every voter would also be an owner-occupier.

Beginning with the Federal Housing Administration in the Thirties, there has been a sustained effort to encourage people to become property owners, with incentives ranging from government-guaranteed mortgages to tax-deduction of mortgage interest payments.

The intention was implicitly conservative, which was why the most cogent proponents of the property-owning democracy were Margaret Thatcher and Ronald Reagan. The theory was that when working-class voters purchased their own homes, they would turn away from socialism. And in many ways it worked.

All over the English-speaking world, owner occupation is now the rule. Before the Thirties, no more than two-fifths of American households were owner occupiers. Today the proportion is 68 per cent.

In Britain, the share of owner-occupiers rose from just under a third in 1953 to a peak of 75 per cent in 1981. The proportion is currently down to 70 per cent, because house price inflation has made it so hard for first-time buyers to get on the property ladder. ........."

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Erm, the OPS article says 70% in Britain... I assume that 70% of homes are owner occupied, rather than 70% of the population owns a home.

If you need it spelled out... :ph34r:

Currently in the UK there are roughly 25 Million homes, of which there are 11 Million outstanding mortgages, so by that rationale, 14 Million people own their homes outright with no mortgages.

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Currently in the UK there are roughly 25 Million homes, of which there are 11 Million outstanding mortgages, so by that rationale, 14 Million people own their homes outright with no mortgages.

The article didn't say that 70% own their homes WITHOUT HAVING A MORTGAGE, now did it...

'..by that rationale..' as you put it, 14 million homes (based on 25m homes) are OWNER OCCUPIED, according to the article. I make it 17.5m of 25m homes, if we are talking 70%, but hey what do maths matter on HPC.co.uk!!

Simple, really.

Edited by bigfeet
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The article didn't say that 70% own their homes WITHOUT HAVING A MORTGAGE, now did it...

'..by that rationale..' as you put it, 14 million homes (based on 25m homes) are OWNER OCCUPIED, according to the article. I make it 17.5m of 25m homes, if we are talking 70%, but hey what do maths matter on HPC.co.uk!!

Simple, really.

I wasn't referring to the article ***k nut, but rather responding to the previous post and stating the fact that there are roughly 11 million outstanding mortgages in the UK and there are roughly 25 million homes so therefore give or take a few who have multiple homes on one mortgages it can be assumed that 14 million folks own their homes outright be it rented out to tenents or lived in by themselves. As for your maths rant, I've got a degree in maths from one of the red brick Uni's back in the day when it meant something and not the ones nowadays that might aswell be written on sh** paper, so crawl back into you shell ***hole.

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I wasn't referring to the article ***k nut, but rather responding to the previous post and stating the fact that there are roughly 11 million outstanding mortgages in the UK and there are roughly 25 million homes so therefore give or take a few who have multiple homes on one mortgages it can be assumed that 14 million folks own their homes outright be it rented out to tenents or lived in by themselves. As for your maths rant, I've got a degree in maths from one of the red brick Uni's back in the day when it meant something and not the ones nowadays that might aswell be written on sh** paper, so crawl back into you shell ***hole.

Right on jimmy :)

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yes, perhaps owning a home is not for everyone. Similarly, perhaps many of today's mortgagors are in that group of unsuitables, and those who have got more sense (and would make more worthy homeowners) are those who have chosen to sit the bubble out.

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I wasn't referring to the article ***k nut, but rather responding to the previous post and stating the fact that there are roughly 11 million outstanding mortgages in the UK and there are roughly 25 million homes so therefore give or take a few who have multiple homes on one mortgages it can be assumed that 14 million folks own their homes outright be it rented out to tenents or lived in by themselves. As for your maths rant, I've got a degree in maths from one of the red brick Uni's back in the day when it meant something and not the ones nowadays that might aswell be written on sh** paper, so crawl back into you shell ***hole.

The article was the subject of my reply, as you should know.

I'm pleased that you managed to get into a university made of red bricks (portland stone built universities are so low class). Your education has done you proud sonny jim.

The rant is all yours. :lol:

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The article was the subject of my reply, as you should know.

I'm pleased that you managed to get into a university made of red bricks (portland stone built universities are so low class). Your education has done you proud sonny jim.

The rant is all yours. :lol:

I have a qualification in catering from a white concrete monstrosty with a flat roof and Aluminium Windows. My School years were during the good old Labour Years, so it was a Cederwood Hut.

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I have a qualification in catering from a white concrete monstrosty with a flat roof and Aluminium Windows. My School years were during the good old Labour Years, so it was a Cederwood Hut.

Surely, the outhouses were constructed with red brick... :unsure:

If so, then you are saved. You can hold your head up high! Don't use your degree certificate as toilet paper. You can walk tall with the maths graduates of the greatest red brick outhouses of the world.

Hurrah!

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Maybe owning a home is not for everyone

"The idea that everyone should be a property-owner has much to commend it. There is a long and distinguished tradition in the English-speaking world of seeing individual liberty and property-ownership as intertwined.

In his Two Treatises of Government, John Locke observed that "the great and chief end… of Men's uniting into Commonwealths… is the preservation of their Property". In both the United Kingdom and the United States, property ownership was the original basis for the right to vote.

In the 19th century, democratisation meant giving the vote to people who were propertyless. It was not until the 20th century that people began to dream of a society in which every voter would also be an owner-occupier.

Beginning with the Federal Housing Administration in the Thirties, there has been a sustained effort to encourage people to become property owners, with incentives ranging from government-guaranteed mortgages to tax-deduction of mortgage interest payments.

The intention was implicitly conservative, which was why the most cogent proponents of the property-owning democracy were Margaret Thatcher and Ronald Reagan. The theory was that when working-class voters purchased their own homes, they would turn away from socialism. And in many ways it worked.

All over the English-speaking world, owner occupation is now the rule. Before the Thirties, no more than two-fifths of American households were owner occupiers. Today the proportion is 68 per cent.

In Britain, the share of owner-occupiers rose from just under a third in 1953 to a peak of 75 per cent in 1981. The proportion is currently down to 70 per cent, because house price inflation has made it so hard for first-time buyers to get on the property ladder. ........."

I must be a bit strange, sort of missing the plot , (it wouldn't be the first time) but this obsession to own mystifies me.

So many people think that owning a house is the same as belonging; it's not. For me , being a householder on two previous occasions, increased my sense of vulnerability dramatically. I felt shackled to my job and to my employer; truly the arch wage slave and I loathed it.

I continually worried about how I would pay if the boiler went , or the roof or the windows blew out. All in a world of short term contracts, minimal pay rises, increasingly demanding bosses who know they have you by the balls.

Through choice I now have no house and own nothing apart from my clothes , my books and family memorabelia. The solid practicality of the homeowner is an illusion and one achieved at a high cost .

When you have impoverished posters on this site confessing that they live on cereals, baked beans, and mince because they have no money after they've paid the mortgage you know that perceptions of reality and worth have become very very distorted . Cast off that image of the perfect couple with their perfect teeth, cocooned in their shimmering new conservatory; doesn't it make you want to physically puke ?

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Guest Cletus VanDamme
In the 19th century, democratisation meant giving the vote to people who were propertyless. It was not until the 20th century that people began to dream of a society in which every voter would also be an owner-occupier.

So return to Victorian society it is then ;)

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The article didn't say that 70% own their homes WITHOUT HAVING A MORTGAGE, now did it...

'..by that rationale..' as you put it, 14 million homes (based on 25m homes) are OWNER OCCUPIED, according to the article. I make it 17.5m of 25m homes, if we are talking 70%, but hey what do maths matter on HPC.co.uk!!

Simple, really.

Thats interesting because it means that out of the 17.5 million owner occupiers about 60% have a mortgage and the other 40% do not. That is exactly as it should be because that 40% are retired or reaching retirement so should have no debt. The problem is that the other 60% have an absolutely huge amount of debt.

The gap between the older and younger generation is starkly revealed by these apparenlty simple percentage values.

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  • 443 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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