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Debate House Prices


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DWP mortgage cuts could mean rise in reposessions

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Comments

  • wherediditallgothen
    wherediditallgothen Posts: 1,520 Forumite
    ess0two wrote: »
    Its great renting from the bank,last time i sold i made a packet towards my next house.

    If i was renting i would'nt have had a pot to !!!! in.

    It's great for the individual in this situation if prices go up, I agree.

    Everyone knows prices only ever go up don't they? Well, except when they 'plateau' or 'stagnate'. :D
    Set your goals high, and don't stop till you get there.
    Bo Jackson
  • michaels
    michaels Posts: 29,223 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Renting from the bank might appear to include a free European forward on house prices but given the possibility of bankruptcy if you have no additional assets it is actually a free option :)
    I think....
  • GDB2222
    GDB2222 Posts: 26,473 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I love these long meandering discussions about semantics. On a practical basis, if I buy a chinese takeaway using my credit card, who owns the meal? I do or my credit card company? It's obvious that I have an asset (or had until I ate it) and I have a liability. There's no way the lenders own the asset, although they might have me by the short and curlies, so they might in a sense own me.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    Your bank doesnt have its name on the purchase contract though when you buy a !!!!!!.
  • silvercar
    silvercar Posts: 49,929 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    wherediditallgothen wrote: »
    It's great for the individual in this situation if prices go up, I agree.

    Everyone knows prices only ever go up don't they? :D

    Over 25 years they have.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    On average, in line with wages, until the credit boom, which distorted price levels.
  • GDB2222
    GDB2222 Posts: 26,473 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    mbga9pgf wrote: »
    Your bank doesnt have its name on the purchase contract though when you buy a !!!!!!.

    They are welcome to take a charge over it. Still doesn't mean they own it.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • silvercar
    silvercar Posts: 49,929 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    mbga9pgf wrote: »
    On average, in line with wages, until the credit boom, which distorted price levels.

    So would you rather buy with a mortgage now or wait 25 years and buy at the current price? and how will you save enough money to buy outright given that you will be paying for somewhere else to live - at market rates - for the next 25 years?
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    I saved 100K over 4 years with my wife,whilst living in rented. Which kind of sh1ts on your argument, really, doesnt it?
  • GDB2222
    GDB2222 Posts: 26,473 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Could have saved more if you'd lived in a tent. :p
    No reliance should be placed on the above! Absolutely none, do you hear?
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