Darling admits house prices are too high

ses6jwg

The_White_Horse wrote: »

if house prices are allowed to fall - as they should. the govt needs to protect people who bought between 2000 and 2007 who may be crippled with massive debts for the rest of their lives due to the govts incompetence and encouragement of a debt based economy.

Its all very well for a 200k house to fall to 100k, but what of those with a 180k mortgage, they are ruined for many years, especially if interest rates rise. a technique needs to be devised to help the victims of the govt's gross negligence. and that is EVERY person who bought from 2000 onwards. maybe rates on mortgages taken out during this period can never go above 2%.

LMAO

Funny how you are extremely right-wing.... until it doesn't suit you.

I'm guessing you fall into the above category then?

Ha. Haha. Hahahahahahahahahaha.

:rotfl: :rotfl: :rotfl::rotfl:

The_White_Horse

ses6jwg wrote: »

LMAO

Funny how you are extremely right-wing.... until it doesn't suit you.

I'm guessing you fall into the above category then?

Ha. Haha. Hahahahahahahahahaha.

:rotfl: :rotfl: :rotfl::rotfl:

not in the slightest. i have plenty of equity and a reasonably small mortgage.

the point is, an entire generation have been f**ked and have a very low disposable income because such a high percentage is taken up in mortgage payments. if prices plummit and interest rates go up, this will not help the economy as an entire generation will up the creek. who will buy my house when I want to move? certainly not the person who spent 280k in 2004 and their house is now worth 145k with a mortgage of 240k round their neck. it will all grind to a massive halt. people don't far ahead enough.

we are not talking of a few people. we are talking about a whole generation.

puddy

i dont post an awful lot on this section but really that is nonsense, if they can afford to pay their mortgage they will just have to wait until its paid off, just like if you took out a loan on a car, well the car doesnt increase in value does it

tara747

The_White_Horse wrote: »

if house prices are allowed to fall - as they should. the govt needs to protect people who bought between 2000 and 2007 who may be crippled with massive debts for the rest of their lives due to the govts incompetence and encouragement of a debt based economy.

Its all very well for a 200k house to fall to 100k, but what of those with a 180k mortgage, they are ruined for many years, especially if interest rates rise. a technique needs to be devised to help the victims of the govt's gross negligence. and that is EVERY person who bought from 2000 onwards. maybe rates on mortgages taken out during this period can never go above 2%.

What??? Why??? :huh:

Those who bought in that period, DESPITE repeated warnings from every respected financial, economic and social commentator that prices were dangerously high and bound to fall, need to accept that prices can go down as well as up. Simples.

I am not gloating over house price falls or those in NE, but we are all adults. We each pay our money and take our choice. I made an informed decision not to buy in that period, even though I wanted to buy. It would represent moral hazard in the extreme to implement your suggestion.

Really2 wrote: »

Is that genuine as per the stamp duty offer or genuine as in terms of being out of the market more than 6 months?

http://www.hmrc.gov.uk/budget2010/sdlt-qa-tech-1545.pdf

And the £250k thing is in place for the next TWO years not one... I might even be buying myself by 2012 if the falls continue. :beer:

StevieJ

ses6jwg wrote: »

LMAO

Funny how you are extremely right-wing.... until it doesn't suit you.

I'm guessing you fall into the above category then?

Ha. Haha. Hahahahahahahahahaha.

:rotfl: :rotfl: :rotfl::rotfl:

Bet he denies it

Running_Horse

The_White_Horse wrote: »

not in the slightest. i have plenty of equity and a reasonably small mortgage.

the point is, an entire generation have been f**ked and have a very low disposable income because such a high percentage is taken up in mortgage payments. if prices plummit and interest rates go up, this will not help the economy as an entire generation will up the creek. who will buy my house when I want to move? certainly not the person who spent 280k in 2004 and their house is now worth 145k with a mortgage of 240k round their neck. it will all grind to a massive halt. people don't far ahead enough.

we are not talking of a few people. we are talking about a whole generation.

And who is going to compensate those who lost their homes in the 90s? It might not be fair, but their misery allowed a whole generation to buy at reasonable prices for several years.

Better to reform the system that creates these mad bubbles every few years, so everyone who works hard can have a reasonable expectation of buying property, regardless of the year they were born.

tara747

running_horse wrote: »

and who is going to compensate those who lost their homes in the 90s? It might not be fair, but their misery allowed a whole generation to buy at reasonable prices for several years.

Better to reform the system that creates these mad bubbles every few years, so everyone who works hard can have a reasonable expectation of buying property, regardless of the year they were born.

+1 .................

MiserlyMartin

stealeruk wrote: »

"if house prices are allowed to fall - as they should. the govt needs to protect people who bought between 2000 and 2007 who may be crippled with massive debts for the rest of their lives due to the govts incompetence and encouragement of a debt based economy."

The value of any investment can go down as well as up, that's life. No one made them buy. There really cant be that many FTB's that are going to benefit from this. If you've ever had your name on deeds to a property you're not a first time buyer.

But there are too many people who believe the words, "You can't lose with bricks and mortar", like it is gospel. Thats why they went in.

DaddyBear

The_White_Horse wrote: »

not in the slightest. i have plenty of equity and a reasonably small mortgage.

the point is, an entire generation have been f**ked and have a very low disposable income because such a high percentage is taken up in mortgage payments. if prices plummit and interest rates go up, this will not help the economy as an entire generation will up the creek. who will buy my house when I want to move? certainly not the person who spent 280k in 2004 and their house is now worth 145k with a mortgage of 240k round their neck. it will all grind to a massive halt. people don't far ahead enough.

we are not talking of a few people. we are talking about a whole generation.

As opposed to several generations being either priced out completely or being forced to take out 5 times joint income for a shoe box. Typical homeowner attitude. Foock the future, I want to feel richer on paper, otherwse i'll just have to cry.
Total nanny state mentality.

PrivatisetheNHSnow

Make people on benefits share 10 families to one house.