Parents want a house price FALL to help their children get on the property ladder

HAMISH_MCTAVISH

torontoboy45 wrote: »

the article says nothing of the sort. you know that. we know that.

for Christ's sake man: stick to the facts, for once. .

carols thread title stated parents want prices to fall.

Exccept it turns out, from the article, that only a third of parents want prices to fall.

Those are the facts.

Really2

satchmeister wrote: »

So the government paying 300,000 hard-working families mortgages has no effect on house prices and has not propped up the market?

The problem is they pay for other peoples rent so how can they not give simialr benefits to those that own.

If paying the IR on their mortgages is cheaper than paying for a rented home for them I have no problem.

Paying their mortgage is tempory, housing benefit can be permanant.

System

HAMISH_MCTAVISH wrote: »

I see you left out the important details, as always.

[/SIZE]


So presumably Two Thirds are hoping they rise.:cool:

And for that 3rd that actually want falls, a more accurate title would be

"Parents want a house price FALL to help their children get on the property ladder, except their own houses, oh god no don't want that to fall, LOL how ridiculous, no just others peoples houses please"

The_White_Horse

the easiest way to redress the balance is some sort of sliding scale adjustment of house prices that should be fixed for say, 5 years. sort of like a notional 1991 price for council tax.

you say that at the peak in 2007 houses were 100% overpriced. Therefore, the property should be valued at 50% of peak value. If you bought in 2005, then it is cut by 40% and so on.

Obviously the problem with that is negative equity. therefore, mortgages should be cut accordingly - funded by the banks and govt as a gesture of goodwill for the mess they both caused.

this will help the house market move, it will help the economy as people will have larger disposable incomes to spend and really, the money you owe doesn't really even exist, so no one will really notice.

its win win, and puts everyone back on an even keel.

there is no problem with someone not being able to afford a 500k home because they don't earn enough, but another thing when the same house is so inflated the same person could have afforded it 6 years ago but never could now. It is unfair (to the extent that fairness is involved) that say a GP 15 years ago could afford a house that a GP cannot afford now. However, it is not unfair that a GP can afford a much better house than say, their receptionist. You know what I mean.

this plan is by no means perfect, but i'm sure far clever mathematical geniuses could make it work

ILW

MadnessOfHPC wrote: »

So 2/3 want them to rise.

These are the bare faced facts.

Please explain how that is a fact, based on the information supplied.

carolt

It isn't - it's more likely that of the 2/3 left, they couldn't care less what happens to property prices, or want them to stay level.

There is precisely zero evidence that that 2/3 want prices to rise.

The usual lies from the usual suspects - Hamish and the appropriately-named 'madness'.

carolt

silvercar wrote: »

Parents want lower house prices to help their kids onto the ladder.
Investors want lower house prices to invest in BTL.
FTBs want lower house prices to get on the housing ladder.

Pensioners don't.
Those in neg equity don't.
Those wanting to remortgage with high LTV don't.
Developers/ builders don't.

Take your pick.

On what basis do you say pensioners don't want prices to fall?

I would have thought pensioners would fall into the don't care group - except for a few who've racked up huge debts, and are hoping for HPI to bail them out.

Basically, everyone bar those in negative equity, and speculative property developers want prices to fall.

I wonder which category Hamish comes into?

Really2

carolt wrote: »

On what basis do you say pensioners don't want prices to fall?

I would have thought pensioners would fall into the don't care group - except for a few who've racked up huge debts, and are hoping for HPI to bail them out.

It decimates there savings rates as IR rates fall for economical reasons.

You can't have falls without damaging the economy in some way.

Please do remember those poor pensioners. (like we were told when base rate fell to 0.5%)

lemonjelly

carolt wrote: »

I would have thought pensioners would fall into the don't care group - except for a few who've racked up huge debts, and are hoping for HPI to bail them out.

When I worked in housing, it was quite amazing how many retired people had repeatedly remortgaged (for whatever reason) & were mortgaged to the hilt on their property.

Problem being, they were applying to the housing associations for accommodation, because they knew that they would shortly be unable to remain in the property, as their repayments were unsustainable.

It was, I feel, quite scary. We would reciev a number of applications weekly from local people who had bought years ago, hell some of them had even been mortgage free years ago, & were now £200k+ in debt.

A couple of things perplexed me about this:

1 who is lending someone in their 60's (I did a survey over a 3 month period & the average age was 67) such huge sums of money? Was it realistic to believe they would be able to repay the full amount?

2 Quite a few were people who had bought the houses ridiculously cheaply via the right to buy (£12k for a 3 bed house in the 80's). The house would now be worth £200K plus, but was fully mortgaged.

silvercar

The_White_Horse wrote: »

Obviously the problem with that is negative equity. therefore, mortgages should be cut accordingly - funded by the banks and govt as a gesture of goodwill for the mess they both caused.

so rewarding those who bought at the wrong time, penalising tax payers who will end up funding it.

What is the chance of this happening?
:rotfl::rotfl::rotfl:

carolt wrote: »

On what basis do you say pensioners don't want prices to fall?

I would have thought pensioners would fall into the don't care group - except for a few who've racked up huge debts, and are hoping for HPI to bail them out.

Basically, everyone bar those in negative equity, and speculative property developers want prices to fall.

Pensioners have seen their saving eroded. In a lot of cases they want to downsize and use their built up equity to fund their retirement. I think pensioners care a lot.

Anyone who now has a high LTV thanks to recent price falls also doesn't want prices to fall in order to secure a good mortgage deal. I don't know why you dropped these people off the list.