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silver surfer

Where Next For Owner Occupancy

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The 20th century saw an explosion in British owner occupancy. From 11% in 1900 it just kept going up, 29% by 1951, 45% by 1964, and it actually kept growing throughout HPC1. In 1987, before the crash started, there were 14.0m owner occupied properties in Britain, by the time the crash was all over in 1997 it was up to 16.1m.

Today owner occupation in this country is over 70%, not quite as high as Spain or Ireland, but way ahead of France or Germany who are still in the low to mid 50% range.

So where's it go from here?

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The 20th century saw an explosion in British owner occupancy. From 11% in 1900 it just kept going up, 29% by 1951, 45% by 1964, and it actually kept growing throughout HPC1. In 1987, before the crash started, there were 14.0m owner occupied properties in Britain, by the time the crash was all over in 1997 it was up to 16.1m.

Today owner occupation in this country is over 70%, not quite as high as Spain or Ireland, but way ahead of France or Germany who are still in the low to mid 50% range.

So where's it go from here?

I think people will eventually wake up to the fact that the only winner when you get mortgaged for a house is the bank.

Someone buys a house for 150k, pays the mortgage for 20 years and ends up paying the bank 300k for that 150k house.

House prices may have doubled in the 20 years, so if they sell for 300k they break even or worse, could actually come out worse off.

It's an insane idea to take out a mortgage for any more than 10 years, but people still do it - WHY? :blink:

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It's because they are spackers.

I presume 'spacker' is derogatory?

And I think it's quite bizarre to suggest it doesn't make sense to own your own home in the long term. Financially, once you've paid off your mortgage, and haven't MEWed at all through its lifetime, you are better off. You have a place to live in rent free.

Sure, the interest on the equivalent capital at the time *may* cover rental of a similar place, but that is by no means certain, and has not been the case on many occasions.

Again - like most here, I think prices need to drop, but I think you're stretching things too far to say owner occupancy makes no sense.

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Guest Charlie The Tramp
By that time you're looking at nursing home fees..

They refused to take me at 37 years of age. :(

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