Solution for FTB's MAYBE.

Conrad

rizla01 wrote: »

So do you seriously believe that it is in the country's best interest if property prices fall to say, 2/3rd (or less) of what they are today?

Why not

Why is owners were more than happy to welcome the pennies from heaven that magically came into thier posesion (on paper at least), but cant then accept those same magic pennies cant dissapear in exactly the same manner?

Those pennies weren't real, they weren't a given, they were merely a temporary manifestation built on cheap and easy debt.

Welcome the taste, welcome the fat. Lose the fat, lose the taste.:rotfl:


Well, I thought it was funny even if you lot didn't

turbobob

rizla01 wrote: »

Bad for who exactly?

First time buyers for one. No scheme involving estate agents subsidising first time buyers is going to help artificially prop up house prices any more than current shams are (like developers offering massive interest free loans payable after 10 years, "gifted" discounts and deposits etc.) Just drop the price to a realistic level :rolleyes:

There are many other reasons why a speculative bubble on the back of cheap credit is bad, but I'm sure others could explain them better than I could.

rizla01

turbobob wrote: »

First time buyers for one. No scheme involving estate agents subsidising first time buyers is going to help artificially prop up house prices any more than current shams are (like developers offering massive interest free loans payable after 10 years, "gifted" discounts and deposits etc.) Just drop the price to a realistic level :rolleyes:

There are many other reasons why a speculative bubble on the back of cheap credit is bad, but I'm sure others could explain them better than I could.

But that statement presumes that society is better off owning rather than renting.

Why can we not be happy with SOME people renting and SOME people owning?

All that has happened is that some people, that WANT to buy are not able to.

I want a Lamborgini but make do with my Ford.

neverdespairgirl

rizla01 wrote: »

All that has happened is that some people, that WANT to buy are not able to.

That isn't "all" that happened. We also have a situation where (apart from the 18% of people who live in social housing) there is a great insecurity in renting. The AST is not comparable to other countries where people rent much more.

sm9ai

I have always been pessimistic so bear that in mind with my answers!

rizla01 wrote: »

The only thing that'll change that is a full blown recession (Which I doubt will happen, personally)

Personally I think we a recession is a certainty and we should be planning for a depression.

I would like you to answer this question without looking it up on the Internet.

How many banks and lenders have collapsed in this current downturn?

rizla01 wrote: »

And you can start by leaving the lovely Kirsty & Phil AND my Sarah out of this.:)

Unfortunately most people do blame them. Where as they are not fully to blame, most of that lies with the government and lenders, but they have certainly played a part in ramping up the price of houses.

sm9ai

rizla01 wrote: »

I want a Lamborgini but make do with my Ford.

But what about those who want a Ford but have to make do with nothing?

Shelter is an essential to survival and it has been played about with as if it was a luxury item.

lostinrates

sm9ai wrote: »

But what about those who want a Ford but have to make do with nothing?

Shelter is an essential to survival and it has been played about with as if it was a luxury item.

Pubic transport.

I kind of get what Rilza is saying. The problem is those priced out at the bottom include people who are young but comparitively well paid, not just the young and low paid, or the low paid. rents are expensive too, cost of living is going up.....in the expensive parts of the country whole generations are written out of the market unless they win the lottery or inherit.

I agree want is different to need. but that's not whats been happening, otherwise there would not have been 125% mortgages.