Some of you are vultures

star-bright_2

wintersunshine wrote: »

Don't worry plenty of us had noticed. I hope you don't lose your job;) Or anyone in your family;)

You sarcastically *hope* that he/she doesn't lose anyone in their family just before Christmas, and you call other people vultures! Jeez, what a charming, kind, person you are in comparison to someone who wants to buy a house!

mewbie_2

star-bright wrote: »

Jeez, what a charming, kind, person you are in comparison to someone who wants to buy a house!

It's the 'take offence' thread now. How can you use the Lord's name (peace be unto him) in that slang way, when we are so near to the Holy time of Christmas. And then italicise the charming and kind words when you clearly mean nothing of the sort. At this special time of year we should be reaching out to all those around us, especially those who deserve our love and kind thoughts. There are many good people out there. And there's WinterSunshine.

ad9898_3

star-bright wrote: »

You sarcastically *hope* that he/she doesn't lose anyone in their family just before Christmas, and you call other people vultures! Jeez, what a charming, kind, person you are in comparison to someone who wants to buy a house!

I think he/she (wintersunshine) has just enlightened us on their character, only cries when the s**t is hitting the fan for them, with, ironically, little care for anyone else. Hypocrite.

star-bright_2

mewbie wrote: »

It's the 'take offence' thread now. How can you use the Lord's name (peace be unto him) in that slang way, when we are so near to the Holy time of Christmas. And then italicise the charming and kind words when you clearly mean nothing of the sort. At this special time of year we should be reaching out to all those around us, especially those who deserve our love and kind thoughts. There are many good people out there. And there's WinterSunshine.

:T :T :T :rotfl: :rotfl: I was using Jeez as in *jeepers* love how you know what goes on in my mind, ta for the laugh!

SarahNeedle1872

Just noticed the new board (don't come here often ) and spotted the thread.... very interesting indeed! Will add my 10p worth....

*I am a 'loser' renter... and I certainly don't hate BTL investors.... one of them has given me a place to live!
*I am pleased the house prices are coming down... maybe I will be able to afford to buy one in the next few years after all!
*I don't believe this is a 'crash' so much as a 'correction'. House prices have been inflated for a while.... I understand supply and demand etc, but how many people have put their house on the market in the past at an unrealistic price, knowing that availabilty of cheap/125% mortgages means more people are able to strectch beyond their means to get a house
*I do feel sorry for people that lose their house to repo after losing a job etc, but as a previous poster pointed out, why should we feel sorry for someone who lost their house because they chose holidays/clothes/new cars/fine dining over paying their 125% mortgage
*I don't think it is my God-given right to own a house, I will have to work hard for it! I have debts which I am paying off, then I will start to save for a deposit... then hopefully I will be able to afford to buy a house for my family to live long-term (wonder if my OH has the same idea!?! Doubt it!)

Anyway, back to lurking.....

Pobby

I certainly do not want to see lives shattered by a recession. The last one is still too close for comfort. Over the years I have met people who were badly hurt due to the last house price market adjustment.

One friend had a break down due to all the hounding by the lenders to pay back the short fall.

One observation. In the last down turn we had to undergo massively high interest rates. Having planned on £400 a month for a mortgage is a lot different to £700 a month. I think borrowers are a lot more fortunate today with scanty interest rates. The government doesn`t want a lot of displaced people and I think will try to ease their situation.

This hpi has been nothing but a pain in the butt. We have had 10 years of a growing economy. Think what a better place we would be in now if that money had gone somewhere else rather than in over priced property.

neas

indeed it was a little uncalled for. If a house gets repossessed because of a loss of income this isn't my fault.merely I will not feel guilty taking a repossession of a banks hand.. when the bank are the ones that own it.. not the old 'tenant'....yes a mortgage is like renting for a long time for 25 years where you slowly build up your share of the house.

moggylover

star-bright wrote: »

What does 'out on the street' mean? That they will have to live in insecure rentals for a few years until they get back on their feet? Much as most people who chose not to buy, or couldn't afford to, have been doing.

If that's the case then I'm struggling to understand what the problem is. Are 'homeowners' somehow better than, or otherwise different, from other people in society? Are they allergic to renting? All being equal, most people would not choose to live in a house or flat where they can be turfed out at a couple of months notice, it's not great, but it's life for many. Why are homeowners different?

Personally I've lived in rented properties, with my children, for years, because houses were too expensive, yes I could have taken on the ridiculous 6x mortgage I was offered, but common sense prevailed. If prices come down I'll be able to buy and still feed us.

I'm not gloating, I feel heartily sorry for anyone who has to deal with being reposessed, but you make your choice in this life and deal with the consequences. I've chosen to live with the evils of private rentals for a few years, others have had some 'secure' years in their own home, and some of us may be about to swap places. People who bought sensibly and prudently will mostly be OK.

I still don't think people who bought at stupid mortgage multiples are any better than me and my children, or any of the other people who've been renting for years. I'd love to know if they are though.

And I'm with you all the way here star-bright, but I do also see what is being said by the OP about some of the rather "nastier" gloating posts I have seen.

I will remain totally unaffected by the falls myself, house owned 18 years, another house recently inherited, I can afford (if I can ever get rid of the ones I have) to move on and afford something a little bigger than either of the individual homes and have a better standard of life for my family.

However, not EVERYONE who was buying was MEWing like mad (and I am afraid that these are the people I actually have least sympathy for:o because I see borrowing for such things as cars, holidays and - as an aquaintance of mine did - plastic surgery! as being irresponsible in the extreme and bound to bite you at some stage) and not everyone was a BTL'er.

I think the largest majority of those that will be affected will be ordinary people who faced with the reality they were in at the time just borrowed what they needed to borrow in order to afford a home and have got on with trying to pay their way, and I have an awful lot of sympathy with them, and an equal amount of sympathy with those who have not been able to afford to buy a home in the interim.

I do find myself looking with horror when people think that a FTB should be a 4 bedroomed house with a huge garden and all the trimmings and with a very small deposit: I suspect that this was seldom where the vast majority of people started out at any time in the past, and do not think that is where we should end up now. I say this because I knew people (even way back when I was a wee child) for whom the first years had been flats, then a small house and later the bigger family home as their incomes improved (which is surely what should happen in life ) and who then down-sized and had some "savings" for the old age. I cannot see anything wrong with that.

The HPC is a good thing. I can understand that people hope this will allow them to get a home that they previously could not. BUT I also find some posters positive glee, and the assumption that bad fortune is somehow "deserved" by those that may loose their homes in the next year or two just because they did what they felt they had to do (and without that wonderful thing: hindesight;) ) and with probably little understanding of the gamble side of what they were doing, rather sickening and I think it was this aspect that the OP was trying to get across rather than disagreeing with the need for house prices to fall.

I have nevre bought a repo - I am not certain that I could bring myself to do so as I have always found that once a house "gets" bad luck attached to it that house seems to retain the "curse". However, I will keep an open mind about that in the coming couple of years - because I do not know if I could be so choosy if the repo actually happened to be my "dream home":o .

Anthea Turners place looks quite nice...............:rotfl: :rotfl: :rotfl:

Gwhiz

moggylover wrote: »

Anthea Turners place looks quite nice...............:rotfl: :rotfl: :rotfl:

OMG - don't do it

SingleSue

Pobby wrote: »

I certainly do not want to see lives shattered by a recession. The last one is still too close for comfort. Over the years I have met people who were badly hurt due to the last house price market adjustment.

One friend had a break down due to all the hounding by the lenders to pay back the short fall.

This was what I was trying to say last night in the 5 steps of Grief thread...just when we were picking ourselves up and recovering (mentally), we then started to get hounded by the company chasing the shortfall. This was despite us offering a monthly payment right from the get go (on the advice of the Halifax) which had been refused.

We knew we had to pay it back but the methods they employed would be deemed illegal now....10+ phonecalls a day, umpteem letters each day etc, they were even forcing us to look at obtaining loans to cover the shortfall which although it sounds reasonable, shot our just recovering credit rating to pieces as they were telling us which companies to contact and checking to make sure we had. Tehy also threatened us with bankruptcy (which looking back would probably have saved a lot of heartache), doing an attachment of earnings for the next 40 years but also adding interest each month so that the debt was never paid off, wouldn't believe statements made that our house was a social housing property (we got statements done by our housing association to prove it - they didn't believe them) and told us to sell our house....in fact they treated us like something less than can be found on the bottom of a shoe.

We made a deal in the end to pay a proportion of it (on advice of the CAB) but to do that, we had to take a loan from my parents and a doorstep lender (no-one else would touch us by this time as our credit rating had been decimated by the having to apply for huge loans by this company)...before I was commited to a mental hospital.

Absolutely horrible time and I think was a contributory factor in my eventual breakdown a few years or so later.