Housepricecrash.co.uk & MSE

dezmond76

Mistymaid wrote: »

... back again!

Let's look at it this way; who have rising house prices benefitted since say, 2002?
Or another way; who would have benefitted if house prices had not 'stalled,' and kept on rising?

People on here, who are either in danger of losing their homes, or are actually losing them, aren't usually the 'in the market for 20 years' kind of people. They are at the lower end, with kids and probably thinking of having more.
So they are in the position of borrowing to the hilt to get to their current state. If they wanted to move up market and that market was continually rising, they would proportionately speaking, be paying out even more.

During this period we have also had new entrants to the market who simply couldn't afford to buy. Their life plans were quashed and many are still living with parents etc.

Ultimately the so-called 'boom' actually benefitted very few people financially - it just made them feel better about owning a house worth a 'lot of money.'

Now some people, quite possibly a lot of people, are going to get hurt big time.

Some folk will go untouched. My house price doesn't really concern me. But then I'm not paying a mortgage and live in a slum:rotfl: I'll get what I can when I can afford it and till then I'll do without.

But a lot more people have been touched by this mess, either during the boom or after it, this time round.
Last time savers were getting about 12% interest (I know this because I ran a little sub branch of a bs) but mortgage payers were being hit in the 15% bracket. The savers didn't really have a clue what was going on.

This time everybody seems to know!

So no, on the one hand I'm gutted for people in danger of losing their homes, but the correction was going to come, the maths didn't work out - and, although I understand there was a hell of a lot of misrepresentation and peer pressure, I'm still troubled when I read that people are worried about losing Sky tv or whatever it is, and start to understand, a bit, about how people are so easily coerced.

... back again to the mindset I suppose ...

Oh, sayings I grew up with:

I want, never gets
Neither a borrower nor a lender be.
A penny of your own is better than a pound of somebody elses.
Who told you life was 'fair?'

Never a truer word spoken

misskool

Thread moved to forum policy and discussion, this is a discussion about 2 different forums on the internet and isn't about house prices nor the economy.

setmefree2

ad9898 wrote: »

Sorry setmefree2, after I read it back, I thought thats a load of bollox and doesn't make much sense, so I deleted it. doh

setmefree2

Mistymaid wrote: »

You've hit the nail on the head ... it's a different attitude to money in general.

Why wait? Because I was around when interest rates went up to 15% - that's one very good reminder. People are failing to pay their mortgages now ... and the rates ... well, the rates are ... well ... nothing. Could you actually imagine what would happen if they went up!!!!

Why not MEW?
Because for the last 8 years or so the economy has been increasingly unstable, but for many this has only just come to light. Landing yourself with a 25 years worth of extra debt is a risky thing to do ... no matter how stable you think your situation is. You might make it, you might not.

... sorry but I am going to have to leave this for a while, I keep messing up at what I'm supposed to be doing ...

Sure all that is true. People have to do what there are comfortable with and what makes them happy.:D

setmefree2

Mistymaid wrote: »

People on here, who are either in danger of losing their homes, or are actually losing them, aren't usually the 'in the market for 20 years' kind of people. They are at the lower end, with kids and probably thinking of having more.
So they are in the position of borrowing to the hilt to get to their current state. If they wanted to move up market and that market was continually rising, they would proportionately speaking, be paying out even more.

It was always like that. Buying a house has always been a struggle. In my view having a mortgage is no bigger a committment than finding rent. If you don't pay your rent you are out on the streets.

During this period we have also had new entrants to the market who simply couldn't afford to buy. Their life plans were quashed and many are still living with parents etc.
It was always like this.

Ultimately the so-called 'boom' actually benefitted very few people financially - it just made them feel better about owning a house worth a 'lot of money.'

Now some people, quite possibly a lot of people, are going to get hurt big time.

Some folk will go untouched. My house price doesn't really concern me. But then I'm not paying a mortgage and live in a slum:rotfl: I'll get what I can when I can afford it and till then I'll do without.

But a lot more people have been touched by this mess, either during the boom or after it, this time round.
Last time savers were getting about 12% interest (I know this because I ran a little sub branch of a bs) but mortgage payers were being hit in the 15% bracket. The savers didn't really have a clue what was going on.

This time everybody seems to know!

So no, on the one hand I'm gutted for people in danger of losing their homes, but the correction was going to come, the maths didn't work out - and, although I understand there was a hell of a lot of misrepresentation and peer pressure, I'm still troubled when I read that people are worried about losing Sky tv or whatever it is, and start to understand, a bit, about how people are so easily coerced.

... back again to the mindset I suppose ...

Oh, sayings I grew up with:

I want, never gets Sorry I could never agree with this
Neither a borrower nor a lender be. Nor this
A penny of your own is better than a pound of somebody elses. Nope
Who told you life was 'fair?' Agree with this one

I would never encourage anyone to borrow money if they don't want to.
People have to do what feels right for them.

I think you've done the right thing for you and your family; which is all any of us can do, isn't it?

PS Shame the thread was moved, I was enjoying it :-(

Mistymaid

No, not at the expense of risking the roof over their children's heads or causing others to pay for it.

In this case their children will be paying for it, and possibly their children ...

I've said it before and I'll say it again and I'll keep on saying it:
Grown ups do what they have to do, not what they want to - it's the difference between being a child and an adult.

Plus, they are teaching their children that they can do whatever they like, at whatever cost, to make themselves 'happy,' - it's self perpetuating.

Mistymaid

setmefree2 wrote: »

I would never encourage anyone to borrow money if they don't want to.
People have to do what feels right for them.

I think you've done the right thing for you and your family; which is all any of us can do, isn't it?

PS Shame the thread was moved, I was enjoying it :-(

I think backing up your disagreements with reasoning rather than statement would be more productive ...

setmefree2

Mistymaid wrote: »

I think backing up your disagreements with reasoning rather than statement would be more productive ...

I think we just have different attitudes to money & risk. I respect that you feel differently from me. I don't have a problem with that tbh.

setmefree2

Bye Bye HPCers :hello:

The mods moved our thread.

Remember stop picking on the DFWs If you don't - we'll come and cover you site with smiles and hugs...

the_bread_baron

YOUR NOT SINGING ANYMORE.
YOUR NOT SINGING ANYMORE.

DEATH TO BUY TO LET PARASITES WHO HAVE BROUGHT THE COUNTRY TO ITS KNEES. KILLED OUR ECONOMY AND WILL COST UP TO 6 MILLION JOBS AND ADDED BILLIONS AND BILLIONS TO THE FUTURE TAX BURDEN OF ALL OUR CHILDREN.

GOODBYE PARASITIC SHELTER EXPLOITERS.
I HOPE YOUR GREED BANKRUPTS EVERY ONE OF YOU.

Best Wishes for a happy depression.....
you deserve it.

Bread Baron

ps. Thanks for all the goldfish.....