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eastleighfan

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Just seen on BBC1 they are going to discuss if the "property ladder " exists anymore . Should start in a few minutes

ENJOY !!!!!

Mostly about the cost of moving, especially stamp duty.

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While a lot of it was stamp duty begging, the BBC are finally starting to catch up, saying "staying put is the new moving". They shied away from telling the truth, though - that the "property ladder" is a scam invented by people who want your money.

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Maybe I missed it, but I don't get why they didn't mention that when prices come down, the gaps between the rungs of the property ladder get smaller. They seemed to be making out that it was getting harder to buy bigger places, but surely it'll be easier?

Wish they'd focussed on FTB and looked at what the can afford. Suppose it is a change in sentiment though - a couple of months ago you'd never have heard 'house price inflation is going to be very flat' on the BBC.

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It's those tight fisted banks that won't lend us anymore money, oh, and stamp duty that is spooking people from moving house.

Stupid woman in a big house said,

"we're trapped. We want to move because we... (pause here) ... erm, need more space."

She didn't know why she wanted to move! It's as though she has to aspire to move up the "ladder" because that is the law. :blink:

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It's those tight fisted banks that won't lend us anymore money, oh, and stamp duty that is spooking people from moving house.

Stupid woman in a big house said,

"we're trapped. We want to move because we... (pause here) ... erm, need more space."

She didn't know why she wanted to move! It's as though she has to aspire to move up the "ladder" because that is the law. :blink:

Well it is something to cheer them up when the 'value' of their giant house, and the one they aspire to halves - the stamp duty bill will go down too. :P

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Maybe I missed it, but I don't get why they didn't mention that when prices come down, the gaps between the rungs of the property ladder get smaller. They seemed to be making out that it was getting harder to buy bigger places, but surely it'll be easier?

Not necessarily, unfortunately, unless you can pay in cash. The whole point of the current situation is that it's getting harder to borrow the kinds of sums needed to buy on mortgage.

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"we're trapped. We want to move because we... (pause here) ... erm, need more space."

Err.....if prices come down, then price differentials will tend to reduce too, so it'll cost her less to move to a bigger place.

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Err.....if prices come down, then price differentials will tend to reduce too, so it'll cost her less to move to a bigger place.

Yes, and those FTB's with deposits will find that they are bigger proportionally to the price of the property.

There really are very few people who will be worse off it prices come down a bit.

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Before, people tended to buy their first property in their early 20s, move up the ladder as their family grew, to say a 4 bed home their 3rd or 4th property by the time they reached 50, making money from just living in them, and topping up a small mortgage, repaying and topping up as they go.

Today we are buying later in life, taking on huge amounts of debt, and living in unsuitable property for longer, we might be aged mid 40s before able to buy a freehold, having smaller families, never able to attain the ideal home due to the large sum of debt that would have to be taken to buy it when so much closer to retirement, and the sacrifices to do this would not be worth it.

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Guest pioneer31

Bravo to the beeb for being first with the breaking news "The rungs of the ladder are further apart than ever"

No s**t Sherlock!

How long have we been saying that on HPC for?

I noticed the spin on the article though - If people can't afford to move, they'll have to stay put.

No, if enough people can't afford to move prices will start to fall!

Edited by pioneer31

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The bankruptcy of modern living in Britain is perhaps no more apparent than in watching those dreadful people who can only measure their worth it seems by the size of their house.

The apotheosis of the middle classes, a 4 bed detached house with a bit of land.

Jesus wept.

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The bankruptcy of modern living in Britain is perhaps no more apparent than in watching those dreadful people who can only measure their worth it seems by the size of their house.

The apotheosis of the middle classes, a 4 bed detached house with a bit of land.

Jesus wept.

Watch out, coming to a place near you...many many more large unafordable properties coming onto the market and staying on the market, until the correction. ;)

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  • 295 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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