Age of home ownership coming to an end...

ILW

StevieJ wrote: »

So does HPC when you see people cheering on recession and looking forward to negative equity and people tossed out on the streets

Negative equity has nothing to do with being tossed out on the streets, in fact it can make you less likely to be repossesed.

StevieJ

JonnyBravo wrote: »

Indeed.



Really?
I'm surprised if it was that. But to be fair there are quite a few things that could have earned it. I suspect it was more the weight of evidence?

You suckered him there

StevieJ

ILW wrote: »

Negative equity has nothing to do with being tossed out on the streets, in fact it can make you less likely to be repossesed.

Why would NE make you less likely to be repossessed? if you were not in N.E. you could simple sell the property rather than relinquish and allow the bank to sell for a song.

ILW

StevieJ wrote: »

Why would NE make you less likely to be repossessed? if you were not in N.E. you could simple sell the property rather than relinquish and allow the bank to sell for a song.

Banks are less likely to reposses a property in NE as they are unlikely to get their money back. Losing your home is mainly about not making the payments.

chucky

ILW wrote: »

Banks are less likely to reposses a property in NE as they are unlikely to get their money back. Losing your home is mainly about not making the payments.

so why would anyone wish someone to lose their home by not being able to make the payments or wish someone to be in negative equity because that's what people are wanting and what happens when they want a HPC...

C_Mababejive

You never own your own home. You simply flog your tripe out to service this massive debt and errr...then you die. You dont even own the lad it stands on. All land is owned by the Crown,you simply have use of it. Its all a big con trick to keep you enslaved.

StevieJ

ILW wrote: »

Banks are less likely to reposses a property in NE as they are unlikely to get their money back. Losing your home is mainly about not making the payments.

If you were in NE then you would not have access to the best mortgage deals, this means your mortgage costs would be higher thus more like likely to default on payments.

ILW

chucky wrote: »

so why would anyone wish someone to lose their home by not being able to make the payments or wish someone to be in negative equity because that's what people are wanting and what happens when they want a HPC...

NE has no direct connection to being able to keep up payments or not, cannot see why you are putting the two together.

ILW

StevieJ wrote: »

If you were in NE then you would not have access to the best mortgage deals, this means your mortgage costs would be higher thus more like likely to default on payments.

To be frank, if a percent or so on your mortgage payments is going to make you default, then you have over commited in the first place, and are at the mercy of any interest rate increase.

chucky

ILW wrote: »

NE has no direct connection to being able to keep up payments or not, cannot see why you are putting the two together.

because house price drops don't really come on their own exclusively of anything else happening in the economy.

house prices drops are due to issues with the economy which results in unemployment, inflation, lack of economic growth, falls in the availability of credit, shrinking output, currency issues, reductions in trade etc... etc... to take it a bit further if you want lower house prices you also have banks collapsing or suffering massive issues - you know what that means right...

if you want lower house prices you need all of this to be happening around you.

lower house prices are a lovely romantic idea and are probably a good thing but the price will be paid for lower house prices.

be careful what you wish for...