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One in five homes for sale because owners unable to afford mortgage repayments
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Except that repeating this approach eventually means that we are all maxed out (governments / homeowners / credit card spenders / pension funds / PFI) and what do you do then?setmefree2 wrote: »Have you heard of the Paradox of Thrift In a recession the economy needs spenders not savers.
There are only so many lives for a cat / get out of jail free cards.0 -
setmefree2 wrote: »!!!!!!?
Have you heard of the Paradox of Thrift In a recession the economy needs spenders not savers. So at this point no government is going to be encouraging saving.
Furthermore, you seem to view savers as paragons of virtue. Whilst I agree that the economy needs savers it also needs borrowers too. Borrowers are the risk takers. If it wasn't for risk takers/ borrowers we would all still be living in caves. Many of our wealthiest business men lost a lot of money before they ever made any money. Life is about taking risk. If you choose not to take risks that is your prerogotive - but I do question how far anyone will get in life taking no risk.
Yes, ideally we'd spend more now - but the problem is that we've had years and years of ever increasing borrowing and ever-decreasing saving levels.
Borrowing had become decoupled from saving thanks to those 'new financial instruments' which failed so badly.
The credit crunch is inherently the response of the 'system' to bring itself back towards some sort of equilibrium having been pushed too long and too hard towards over-borrowing with no real base to support the credit creation.
People need to save more and borrow less until there is a savings base of sufficient magnitude to support sustainable borrowing.
Additionally, asset prices boosted by the inflationary effect of ultra-easy credit need to find their correct (lower) value.
Ignoring this and pushing ahead with trying to force a credit fuelled economy to continue (where is this credit going to come from, exactly?) and prop up overvalued assets is not going to help matters.
It's nuts and will either end in an out of control 'crack-up boom' followed by goodness knows what or an even deeper and longer lasting recession/depression.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Chucky really really 2 etc you are the ones that should be thrown off MSE leave !!!!!!? alone and stop twisting his words to suit your own pathetic points.its great to see !!!!!!? revealing his true colours in this thread. he is a narrow minded, intollerant bigot who hates everyone who is not like him; white, healthy, male, working.
i am pretty sure he is on the BNP list somewhere. he has already declared that he dislikes black people, disabled people, the sick and the infirm, anyone who is unfortunate to have lost their jobs.
no wonder he hasnt got a partner. who would have him?
i cant believe that people have stood up for him in the past, simply because he shares their wish for a HPC. hopefully this thread and others will open their eyes. he is an intollerant bigot who wants a housing crash so that he can build a btl empire and lord it over his tenants as a slum landlord.
he should be thrown off the MSE boards, there is no room for this sort of scumbag in civilised society.0 -
As it seems you're not going to answer, I just thought such a property, well maybe not this one totally, offers you more options. 3 double bedrooms. £160K. To me it shows a bit more realistic pricing for prevailing conditions, although I expect similar properties to be cheaper next year and year after.
Especially if those cellar chambers were slightly bigger, you could convert them to a mini-apartment + another bedroom. You could set up a deal with a student nurse or nurses from Stepping Hill Hospital up the road as a lodger, or some worker from Manchester trying to scratch a living on lower wages, to pay your council tax and more, with the convenience of Heaton Chapel, the pubs and shops, short distance from Didsbury, Stockport + Manchester.
Earn up to £4,250 a year tax-free income under the Rent a Room scheme.
That is about £314 a month.... - some costs like extra electricity and stuff.
I'm just thinking helpfully towards you. Sourcing the right home for yourself at the start, which offers some options... especially if you can rent a room where access does not intrude too much into the main home (someone I know has a house with access to a superbly set out big cellar living quarters with separate kitchen and bathroom via steps outside and own door, with another door inside for access to/from the main house.).... it should have a lot less risk, and possibly be even more profitable, than any BTL venture, unless you really expect HPI to rocket again and want some of that action.
Is !!!!!! really from Stockport? He must be A City fan that is where they all live (they say are all from Manchester but they are not really
). He won't like them splashing the cash as they will be doing in Jan. 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
pickles110564 wrote: »Chucky really really 2 etc you are the ones that should be thrown off MSE leave !!!!!!? alone and stop twisting his words to suit your own pathetic points.
Hey you have just had a go at our Carol.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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pickles110564 wrote: »Chucky really really 2 etc you are the ones that should be thrown off MSE leave !!!!!!? alone and stop twisting his words to suit your own pathetic points.
lol - nice one Pickles. i shall take your comments on board and make myself a better person.
remind me... what are all those things that you say about Carol again?0 -
Actually, 'Topov' usually pops up to speak for Chucky.
Actually !!!!!!, you are a lonely man - but just for your info Chucky is Chucky.
I have no need to create user names. You create them then use when you're getting hammered for making your 'i am greater than thou' posts. Be a man and stand up for yourself and stop deleting your posts.0 -
pickles110564 wrote: »Chucky really really 2 etc you are the ones that should be thrown off MSE leave !!!!!!? alone and stop twisting his words to suit your own pathetic points.
what happend to that post you did slaging of northerners. I pulled you up on it and the whole thread disapeared 2 hours later.:rolleyes:0
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