Some of you are vultures

neverdespairgirl

High house prices, and rapid HPI, are a social evil, in my view. HPI tends to transfer wealth from younger generations to older ones, and it drastically lowers everyone's standards of living as they pay through the nose for a roof over their heads.

HPI was insane over the last few years. It was obvious that house prices had soared out of control, and that was bad both for people who were priced out of the market and also people who had over-extended themselves to buy into the bubble.

I don't think it's a good thing for people to be repossessed. What alternative is there?

Lower house prices are, in general, a Good Thing.

matbe

LilacPixie wrote: »

A HPC does not cause repossessions. A debtor not paying the debts secured on their homes does.

I am really fed up of people blaming everyone and everything under the sun for their problems. People need to accept responsibility for their own actions. No one forced these people to take out 125% mortgaged a 5+X joint incomes, nobody forced these people to take on a huge financial commitment with little thought or worry about what happens after the end of their heavily deducted fixed rate mortgage or what happens if income drops slightly. IMO if losing one salary in a two salary household means financial trouble then you are overstretched.

I would not wish repossesion on anyone but I struggle to have sympathy for those who took a gamble and lost.

For the record I have my home, its mortgaged and is losing 'value' week on week. As long as I keep paying the mortgage it doesn't matter.

The op is not blaming repossesions on people merely stating the lack of sympathy and gloating regarding falling prices of houses and the i will buy a cheap house at someone elses expense mentality of a lot of people who post regularly on here.

Alot of the people who will lose thier homes didnt take out a 125% motgage or 5x income motgage they have just been unlucky with timing / jobs etc.

ill wishes fly home many would do well to remember that.

People should think there for the grace of god go I

We could all be in the !!!!!! soon and a clever arsed attitude wont help you then will it ?

altyfc

You talk of "these people" as being greedy, but wasn't it greedy for the people now in trouble to have bought something beyond their means?

mrstinchcombe

The huge house price rises we have seen in recent times means ordinary young families could not buy their own properties... this is bad!

The huge house price falls we are going to see means the ordinary families who own homes cannot move house for a few years... this isn't THAT bad!

torontoboy45

matbe wrote: »

Very well said.

Unfortunately dont expect any agreement or thanks for this post. Most on here are the type who would walk by a person in the street who fell over and hurt themselves these are the true greedy me me me people that are the bane of modern society.

They will laugh as families lose everything as they think they deserve a cheap house.

Get ready for plenty of abuse as anyone who posts on here who doesn't agree with the majority are gang banged by the usual suspects.

mat, who are the 'usual suspects'?

do you mean the small minority of loony toons who were squealing 80% falls some 6 months go and rarely surface these days?

or do you mean those who are studying the market and calling it back to more realistic levels, in the hope that the opportunity to buy (previously denied to them) eventually materialises?

maybe you should save your ire for those who created this chaos - the ones who have spent the past 10yrs stepping over people in the street. the alan b'stards of this world fetched up in all corners of the market, but I don't see too many here.

matbe

torontoboy45 wrote: »

mat, who are the 'usual suspects'?

do you mean the small minority of loony toons who were squealing 80% falls some 6 months go and rarely surface these days?

or do you mean those who are studying the market and calling it back to more realistic levels, in the hope that the opportunity to buy (previously denied to them) eventually materialises?

maybe you should save your ire for those who created this chaos - the ones who have spent the past 10yrs stepping over people in the street. the alan b'stards of this world fetched up in all corners of the market, but I don't see too many here.

I have no "ire" i dont worry one way or the other what house prices do i bought in 1992 and have moved once increasing my mortgage by £500 so unless the wheels really come off the wagon it wont make a jot of difference how far prices fall The usual suspects i refer to are the greedy people who are waiting to buy a house at the loss of another forced to sell at a loss.
Dont deny they arent on here every other post is with glee at the falls houses down 50% or 30% or 80% depending on whatever drivel you read or website you search.

None of these losers have bought a house they are all renters from somebody who has bought a house.

Whats the saying non players off the green ?

sabretoothtigger

Interest rates have dropped which means costs have dropped, anyone who complains about capital value falling has suffered a speculative loss, its a 25 year deal imo.
People were encouraged to gamble I guess and that was wrong

LilacPixie

matbe wrote: »

The op is not blaming repossesions on people merely stating the lack of sympathy and gloating regarding falling prices of houses and the i will buy a cheap house at someone elses expense mentality of a lot of people who post regularly on here.

Alot of the people who will lose thier homes didnt take out a 125% motgage or 5x income motgage they have just been unlucky with timing / jobs etc.

ill wishes fly home many would do well to remember that.

People should think there for the grace of god go I

We could all be in the !!!!!! soon and a clever arsed attitude wont help you then will it ?

It all comes down to responsibility I'm afraid. !!!!!! happens and you have to plan for it. People lose jobs all the time, people also have children, reduce hours etc etc but not everyone that does these things loses their home because they have been responsible and have planned for such events, Maybe with income protection insurance maybe savings maybe a mix of both.

The clever arsed attitude as you put it, I prefer responsible, means that personally we can meet all outgoing on one wage, we have enough easy accessible savings to cover 3 months of bills as a minimum and currently we are paying down our minor debts and mortgage as much as possible as well as steam lining our household budget to maximise savings.

Clever arsed maybe, responsible definitely.

Zelie

Yep, I'm a greedy vulture. I've worked hard and saved my money and avoided foolish debt. As I was never able to buy a place when prices were excessive I'll just have to wait for them to drop to a sensible amount and then buy one. I am truly beyond redemption. Shame on me.

neverdespairgirl

matbe wrote: »

None of these losers have bought a house they are all renters from somebody who has bought a house.

Why is someone who rents a "loser" exactly?