The ticking time bomb ready to obliterate the house price revival

michaels

My policy would be to apply CGT to 'principal private residence' - index linked (only Labour beleive in taxing inflation?) after all they are not making any more land so why should those lucky enough to be holding it gain at the expense of everyone else?

I might be moved to allow it to be deferable until death.

tomstickland

I've been looking to move recently and I've ended up feeling slightly disappointed again. I've lowered my expectations over and over again until now a small detached bovis homes in so-so locations look like something to aspire to in the future.

I have found things that I would be happy with and are just about affordable. I have no debts and a decent income though. I wonder if I should just be enjoying life a bit more.

I worked out the other day that moving from an adequate 1 bed flat to a slightly better home might cost me £450 extra per month. Instead of moving I could take 6 ski holidays per year.

ruggedtoast

tomstickland wrote: »

I've been looking to move recently and I've ended up feeling slightly disappointed again. I've lowered my expectations over and over again until now a small detached bovis homes in so-so locations look like something to aspire to in the future.

I have found things that I would be happy with and are just about affordable. I have no debts and a decent income though. I wonder if I should just be enjoying life a bit more.

I worked out the other day that moving from an adequate 1 bed flat to a slightly better home might cost me £450 extra per month. Instead of moving I could take 6 ski holidays per year.

I too am beginning to wonder if its really in my family's best interests to spend tens of thousands of pounds of our savings to move into a worse house on a worse street in a worse town which will cost more for a mortgage than our current rent.

I am I actually helping me or the vendor?

The_White_Horse

why should someone, who has scrimped and saved all their lives to purchase a house, be forced to sell it to pay for their own care, when the man that has spent all his money on holidays and gadgets and rent gets its for free? Seems odd to punish the saver and reward the profligate spender.

But that is, essentially, the lefty way. take take take and give to the undeserving.

The_White_Horse

or put another way - i would be happy to sell my house to pay for my care, provided those that don't have a house, are left to die in the street.

that seems more than reasonable.

the_ash_and_the_oak

how do you prefer your care to be paid for?

mbga9pgf

The_White_Horse wrote: »

why should someone, who has scrimped and saved all their lives to purchase a house, be forced to sell it to pay for their own care, when the man that has spent all his money on holidays and gadgets and rent gets its for free? Seems odd to punish the saver and reward the profligate spender.

But that is, essentially, the lefty way. take take take and give to the undeserving.

Absolutely not. How can you compare someone who bought a house for low multiple of their salary, often below 2, and say someone like me, saving 85% of his take home salary should then go and fund their last days in a care home through taxation? I cant even afford a small detatched in these parts, and I have nigh on 90K on deposit!!! I havent been on a holiday in 3 years and have very few luxury items.

The boomer generation were the luckiest, greediest generation of the lot. When I go shopping in Asda or tesco, I dont spot many boomers. I spot plenty of them in waitrose and Marks and spencer though!

ukcarper

Being forced to sell your house to pay for a care home is not new and went on just as much under previous Tory governments.

Not many baby boomers bought houses for below 2x salary multiples I bought in the early seventies house 5x salary (small 3 bed terrace) and had to move 20 miles to do that.

baileysbattlebus

mbga9pgf wrote: »

Absolutely not. How can you compare someone who bought a house for low multiple of their salary, often below 2, and say someone like me, saving 85% of his take home salary should then go and fund their last days in a care home through taxation? I cant even afford a small detatched in these parts, and I have nigh on 90K on deposit!!! I havent been on a holiday in 3 years and have very few luxury items.

The boomer generation were the luckiest, greediest generation of the lot. When I go shopping in Asda or tesco, I dont spot many boomers. I spot plenty of them in waitrose and Marks and spencer though!

I wish people wouldn't generalise - I am a boomer or rather because of the huge spread of ages for "boomers" I suppose I'm a "cusper", born between 1954 and 1965. Unfotunately I missed out on housing at 2 x salary - and didn't have the aspiration to buy a small 3 bed detached as a first purchase - it would have been totally out of reach.

I missed the protests - the swinging 60's - I was still at school. I started work in the 1970's and bought a house in Scotland in the early 1980's - so the main pleasure for the first 10+ years of home ownership were high interest rates and a massive proportion of take home pay needed to cover the mortgage payments. We moved to the south east in the mid 1980's and had the pleasure of finding most houses we looked at being out of reach and around 4 - 5 times salary. But we bit the bullet anyway and bought again instead of renting - a very small 3 bed semi.

We managed to hit the recessions in the 1970's, 1980's, 1990's (when the bottom fell out of the housing market in the south east) and this one - yes, we have been lucky, life has been a bed of roses and everything was handed to us on a plate.

drc

amcluesent wrote: »

NuLabour's bungling has lost £3 Trillion of the nation's wealth. That's £50,000 for every family in Britain. Gone for ever.

There's only one thing left.

They've pretty much sold everything that the 'public' owned.

They've covertly stolen private pensions.

Now there's no choice but to blatantly steal private wealth. Houses, savings, shares etc. will be taken from you, because this is a 'democracy' and the panicking sheeple voted for it.

Gold bullion in Swiss vaults is the only safe store of wealth. It IS that serious.

What do you expect. They are Socialists and believe property and wealth are theft except if they belong to the 'elite' (mp's).