Generation Rent.... The future of those who missed the boat..

chucky

silvercar wrote: »

House prices falling may mean that more people can afford to buy, but it also means more people are unable to remortgage or are stuck in negative equity and can't afford to sell.

Every scenario has its winners and losers; something that some people choose to forget.

that's part of the story but house price falls don't come alone - you have unemployment, you have less money to be lent by lenders, sentiment is very low and people don't want to buy etc...

falling house prices alone doesn't happen. falling house prices are a result of issues in the economy.

HAMISH_MCTAVISH

dopester wrote: »

Whereas the HPI+ sluts

:rotfl:

Love it.

You should trademark that dopester, maybe get some T-Shirts printed.

don't mind seeing further misery put upon those who have been sensible

Sensible? Are you serious?

How "sensible" was it to avoid buying a house for 3, 5, 7 or 10 years thinking they were overpriced, waste up to a decade paying someone elses mortgage while you waited for a crash, see the crash come along and then miss the bottom, wait for prices to rise 10% since, and then even if you buy now, get stuffed by higher deposit requirements and increased bank margins.....

and didn't recklessly borrow, overextend themselves financially (for a home or BTL) - and are happy to have a rigged (unsustainable) market full of political interference to prevent values correcting as they should do.

As it turns out, the f eckless turned out to be the ones who wasted all those years speculating on the market, waiting for a crash that turned out to be a damp squib, and the prudent were those who just got on with it and bought a house when they needed one. Particularly given the far better mortgage deals they are mostly on.

System

Although it's hard to argue with that post Hamish it's ever so slightly provocatively worded

HAMISH_MCTAVISH

Joeskeppi wrote: »

Although it's hard to argue with that post Hamish it's ever so slightly provocatively worded

Do you think it's as provocative as "HPI Sluts"? :rotfl:

If not, I may have to try harder next time.....;)

Graham_Devon

HAMISH_MCTAVISH wrote: »

As it turns out, the f eckless turned out to be the ones who wasted all those years speculating on the market, waiting for a crash that turned out to be a damp squib, and the prudent were those who just got on with it and bought a house when they needed one. Particularly given the far better mortgage deals they are mostly on.

I can't let you say that and say nothing.

You appear to have forgotten that the "prudent" as you call it, have been bailed out with:

- Lowest interest rates on record. It was stated not long ago that interest rates of 3% would put reposessions up 170% (I so wish I could find the article!!).

- Lending has been resumed partly on the back of QE, but also partly on the back of the taxpayer bailing out the banks, for which, we cannot get our money back now for an extended period of time, over and above what was initially agreed.

- Reposessions halted and a plan put in place to help those who cannot pay their mortgages, carry on not paying their mortgages for a longer period of time to halt a reposession.

You seem to forget all this time and time again. The "prudent" as you call them, including myself as a homeowner would have been completely stuffed if all that had not happened.

You got lucky in that respect Hamish. That is all. Nothing to do with prudence.

I have to also say that your posts seem to have more "belittling" of others over the past couple of weeks. You used to complain that just because you had a difference of opinion you were banned from HPC. If you were like this there, I can see why you were chucked out.

nembot

So much assumption Hamish, hope it doesn't end up biting you on the !!!.

I for one, will make sure you never forget

IveSeenTheLight

Graham_Devon wrote: »

You seem to forget all this time and time again. The "prudent" as you call them, including myself as a homeowner would have been completely stuffed if all that had not happened.

Speak for yourself Graham.

This prudent person along with millions of other mortgage owners would have continued to pay their mortgage and would not have been stuffed.

Even increasing reposessions by 170% as you insinuate would only be a fraction of mortgage owners

It would seem from your statement that you were fortunate that interest rates and QE was put in place to stop you being stuffed.

I therefore don't understand why you are wishing for it to be reversed

nembot

But you wouldn't be saying that if you didn't already own would you ISTL?

twadge_face

Graham_Devon wrote: »

I can't let you say that and say nothing.

You appear to have forgotten that the "prudent" as you call it, have been bailed out with:

- Lowest interest rates on record. It was stated not long ago that interest rates of 3% would put reposessions up 170% (I so wish I could find the article!!).

- Lending has been resumed partly on the back of QE, but also partly on the back of the taxpayer bailing out the banks, for which, we cannot get our money back now for an extended period of time, over and above what was initially agreed.

- Reposessions halted and a plan put in place to help those who cannot pay their mortgages, carry on not paying their mortgages for a longer period of time to halt a reposession.

Bingo. The HPI has continued due to the stimulus. It has nothing to do with "prudence" and everything to do with... luck.

What is currently lucky for some (the genuinely f eckless gamblers) is currently unlucky for others (the genuinely prudent moneysavers).

Still, seeing we're as fooked as Greece I wonder what impact our own post-election austerity measures will have, hmm?

Continued HPI? I think not.

The current run of luck will be easily reversed. I think that the luck of these bailed out homeowners is going to run out.

Graham_Devon

IveSeenTheLight wrote: »

It would seem from your statement that you were fortunate that interest rates and QE was put in place to stop you being stuffed.

I see you have only taken payments into account.

If the market crashes, which is did, and would without stimulus, hence the stimulus, there is also the problem of neg equity.

That's where I personally would be stuffed.

Whether you would be or not is neither here nor there, nor any of my business. A lot of the country however, would be stuffed.

Payments are just one part of being a home owner.