ConservativeHome: We Need House Prices To Go Up

Sibley

Yes the boomers worked really hard to make there houses worth 4/5 times what they paid for them... oh wait they didn't all they had to do was live there, not that much hard work then.

Yes I may have some bitterness myself, but this is due to the fact that me and my other half will have to work twice as hard to get half as much as the generations before us.

The end of the day if prices go backwards unless the greedy boomers have cashed in the equity then what do they have to worry about, eg my parents bought there home for £30k, its now worth £125k, would they lose anything if prices dropped back to £30k... no, would there children and grandchildren have a chance of even owning a home... yes.

By all means I don't expect them to drop that much, but you have to consider that dropping prices may hit some investors/parasites and some people will slip into negative equity for a while, but a whole generation and many generations after them will benefit.

So is it about personal greed or looking to the future?

What is a greedy boomer?

Somebody who buys a house and makes a load of money on it?

That makes me happy as it would you if you had the property.

My personal wealth goes up and chances of good retirement increase.

I don't care about future generations. I don't care about anyone apart from myself and my family.

If you say you are any different you are lying. It's easy to talk over peoples houses down. You wouldn't want to lose anything on your own place.

IveSeenTheLight

Percy1983 wrote: »

eg my parents bought there home for £30k, its now worth £125k, would they lose anything if prices dropped back to £30k...


, but a whole generation and many generations after them will benefit.

So is it about personal greed or looking to the future?

Did your grandparents own?
What about your great gran parents?
And their parents and so own.

Owner occupancy has shot up in recent decades.

If you want to look back to the past be careful what you wish for as the ppertunity to own could be far less than now.

doire_2

HAMISH_MCTAVISH wrote: »

Interesting.

It made HPC's front page news blog, and got it's own thread full of crashtastic outrage, and attracted a couple of hundred comments from hpc-ers......

But I'm the desperate one?

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

Priceless.

Says the person running across to HPC to see what they are all saying

bendix

HAMISH_MCTAVISH wrote: »

http://conservativehome.blogs.com/centreright/2010/10/we-need-house-prices-to-go-up.html

It seems there are still some Tories with sense.

Comments section flooded by HPC-ers of course after it was linked this morning, but they've done themselves more harm than good.:beer:

I need to win the Lottery this week. Doesnt mean it will happen.

Percy1983

Sibley wrote: »

What is a greedy boomer?

Somebody who buys a house and makes a load of money on it?

That makes me happy as it would you if you had the property.

My personal wealth goes up and chances of good retirement increase.

I don't care about future generations. I don't care about anyone apart from myself and my family.

If you say you are any different you are lying. It's easy to talk over peoples houses down. You wouldn't want to lose anything on your own place.

Well I will give you 10/10 for honesty, do you have children who are going to be priced out?

I really can't see how I could lose on a house, I buy now and when I retire its worth the same (adjusted of course) then haven't a lost anything, if it drops in value have a lost anything? not really I have had a stable home for my family and have a home to live in when I retire. If prices rise have I gained anything?, no... but I get to watch my children have no stable home... sounds great... oh wait.

I really can say I am trying to think of the wider picture and not just myself, yes lower prices would help me and I will admit that i can afford to buy in my local area right now as I have worked hard, but I have a brother who has worked hard and he has no chance of buying yet previous generations could easily buy doing his job.

Yes you are hoping that 30% own 70% of the houses and of course you want to be part of that 30%, but tell me this, is the 'empire' you have built based on you working harder than all the others or you just being born at the right time?

I believe houses should be homes not investments, is that such a wrong idea?

robin_banks

FTBFun wrote: »

I wonder why you bring this up......

Seriously - spamming an internet forum isn't going to get you a cheaper house - especially not in West London.

Differnt parts of the country different forces at play.

There's no such thing as 'THE' housing market, there's an aggregate of many.

ukcarper

Percy1983 wrote: »

Yes the boomers worked really hard to make there houses worth 4/5 times what they paid for them... oh wait they didn't all they had to do was live there, not that much hard work then.

Yes I may have some bitterness myself, but this is due to the fact that me and my other half will have to work twice as hard to get half as much as the generations before us.

The end of the day if prices go backwards unless the greedy boomers have cashed in the equity then what do they have to worry about, eg my parents bought there home for £30k, its now worth £125k, would they lose anything if prices dropped back to £30k... no, would there children and grandchildren have a chance of even owning a home... yes.

By all means I don't expect them to drop that much, but you have to consider that dropping prices may hit some investors/parasites and some people will slip into negative equity for a while, but a whole generation and many generations after them will benefit.

So is it about personal greed or looking to the future?

The first house I bought is now worth £200k I paid £8k but the again the average wage was £1.5k then and is £25k now that’s over 16.6x as much. So if it had just kept up with wage inflation £132k so it’s really only increased by about 50%.

PS you have a good chance of inheriting some of that £125k which most baby boomers don't.

ukcarper

Just to add I wouldn’t mind if houses had only gone up in line with wage inflation and yes it wouldn’t hurt me too much if they fell back. But the people you want to hurt are not the babyboomers who you seem to hate but the younger generation who have entered the market later.

Kohoutek

ukcarper wrote: »

PS you have a good chance of inheriting some of that £125k which most baby boomers don't.

People are living much longer now than ever before – not sure where you get the idea from that younger people are in a better position than baby boomers from the standpoint of inheritance.

If your parents live much longer, then surely your inheritance is much more likely to be dissipated by the cost of living a long retirement and then care-home and nursing-home fees?

ukcarper

Kohoutek wrote: »

People are living much longer now than ever before – not sure where you get the idea from that younger people are in a better position than baby boomers from the standpoint of inheritance.

If your parents live much longer, then surely your inheritance is much more likely to be dissipated by the cost of living a long retirement and then care-home and nursing-home fees?

Because not as many baby boomers parents owned their own homes.