Halifax down 0.5% MoM, 15% YoY

HAMISH_MCTAVISH

DaddyBear wrote: »

I also admit my VI. I want something for my generation that every other generation has had since the great war, the opportunity to buy a reasonably priced house. It will happen in the next 10 years whether you like it or not.

You can buy a reasonably priced house today in large parts of the country. Just not in areas where the demand far outstrips supply.

Dream all you want, that won't change unless a lot more houses are built in the places people want to live, of the type people want to buy, and where employment exists to support them.

As little as 100 years ago, 90% of houses were owned by 10% of people. The lack of credit availability will do nothing but concentrate ownership in the hands of an increasingly smaller and wealthier section of society.

Like it or not, property has never been, and will never be, affordable to 100% of the population. This crash will not change that. At some point, people with money will see value at a price point higher than people without money can afford. That is the way things have always been, and always will be.

DaddyBear

HAMISH_MCTAVISH wrote: »

You can buy a reasonably priced house today in large parts of the country. Just not in areas where the demand far outstrips supply.

Dream all you want, that won't change unless a lot more houses are built in the places people want to live, of the type people want to buy, and where employment exists to support them.

As little as 100 years ago, 90% of houses were owned by 10% of people. The lack of credit availability will do nothing but concentrate ownership in the hands of an increasingly smaller and wealthier section of society.

Like it or not, property has never been, and will never be, affordable to 100% of the population. This crash will not change that. At some point, people with money will see value at a price point higher than people without money can afford. That is the way things have always been, and always will be.

Is there an Echo in here?
With the rich having their wealth destroyed by asset price falls, stock Market bear rally and business failings combined with reduced credit, they are going to find it difficult to buy up property in significant quantities.
Future generations really are screwed in the UK. I look at my 3-month old daughter and realize that she will need all of the ingeritence from my parents to get anywhere. That shouldn't be the case. I assume from your self-centered attitude that you don't have children.

misskool

DaddyBear wrote: »

Is there an Echo in here?
With the rich having their wealth destroyed by asset price falls, stock Market bear rally and business failings combined with reduced credit, they are going to find it difficult to buy up property in significant quantities.
Future generations really are screwed in the UK. I look at my 3-month old daughter and realize that she will need all of the ingeritence from my parents to get anywhere. That shouldn't be the case. I assume from your self-centered attitude that you don't have children.

Not looking to pick a fight but at least your daughter will have an inheritance to fall back on, many people don't and work their way up to what they want in life.

There are no "rights" for anyone to have to buy their own house, that's why people rent and/or in social housing. It's a "want" and it's something that exists in this country because long term renters have no security on their homes.

DaddyBear

misskool wrote: »

Not looking to pick a fight but at least your daughter will have an inheritance to fall back on, many people don't and work their way up to what they want in life.

There are no "rights" for anyone to have to buy their own house, that's why people rent and/or in social housing. It's a "want" and it's something that exists in this country because long term renters have no security on their homes.

Clearly there are no rights to buy a house. My point is regarding the ability to buy a house. Compared to 10 years ago you now have to be significantly higher up the wage scale in order to buy a house. Fortunately I am able to afford a house but many aren't that would have been if they had been born a few years earlier. A significant further correction is needed.

HAMISH_MCTAVISH

misskool wrote: »

Not looking to pick a fight but at least your daughter will have an inheritance to fall back on, many people don't and work their way up to what they want in life.

Very true, and the most successful ones are those who do so without the expectation that the world, or the housing market, owes them a break of any kind and just get on with it.

There are no "rights" for anyone to have to buy their own house, that's why people rent and/or in social housing. It's a "want" and it's something that exists in this country because long term renters have no security on their homes.

Although even if long term secure tenure existed, ownership would still be massively cheaper than renting over the course of a lifetime for most people.

HAMISH_MCTAVISH

DaddyBear wrote: »

A significant further correction is needed.

But unlikely to occur.;)

LydiaJ

HAMISH_MCTAVISH wrote: »

Although even if long term secure tenure existed, ownership would still be massively cheaper than renting over the course of a lifetime for most people.

So that those with more money (ie those who can afford to buy) not only get security, and the freedom to do what they want with the house, but they also pay less than those with less money (ie those who can't afford to buy but don't qualify for social housing).

I agree that your assessment of the current reality is accurate, but I find it distasteful that you seem to think this situation is desirable.

HAMISH_MCTAVISH

LydiaJ wrote: »

So that those with more money (ie those who can afford to buy) not only get security, and the freedom to do what they want with the house, but they also pay less than those with less money (ie those who can't afford to buy but don't qualify for social housing).

I agree that your assessment of the current reality is accurate,

I have never been against building more homes in the areas where housing is ridiculously expensive. Over time such a policy would effectively cap HPI in problem areas without penalising those who have already bought. (No growth, but no big falls either.) Over time LTI ratios would adjust downwards increasing affordability, but without keeping millions in negative equity. A win-win situation.

but I find it distasteful that you seem to think this situation is desirable.

And yet you seem quite content for a recession and mass unemployment to force down prices, leaving millions in negative equity and wiping out the retirement funds of millions more.

And you find my ideas distasteful????:rotfl:

carolt

bluey890 wrote: »

I am happy to fully adhere to my side of the deal - one free pitch of a tent in the back garden.

There's no council tax, water rent or electricity charge to pay (I must confess, there's no electrics full stop).

It is an absolute bargain if you ask me. Any p1key would jump at the chance!

What's a p1key?

I note the site blanks it out when I try and write it properly, so I must assume you're being rude.

Rude, on top of being deceitful.

Still, I expect no more from landlords, or would-be-landlords.

carolt

Harry_Powell wrote: »

BTW, carolt, I don't like how everyone gangs up on you in here and want to distance myself from this. I was interested in exchanging views about the LR, and I enjoyed the exchange. I hope this came across in my posts.

Hadn't noticed anyone ganging up on me here, at least not since that waster Dithering Dad got the push.

But thanks anyway.