ConservativeHome: We Need House Prices To Go Up

Graham_Devon

ukcarper wrote: »

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

Apart from using inheritance as a reason excess HPI is ok being morbid... and no one (well most people) not wanting their parents to croak it just so they can own a home....

Many people mew'ed this HPI.

Percy1983

ukcarper wrote: »

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

So I shouldn't be able to buy a house until my parents die?

With that I don't expect a penny off them, Yes if they die now I will inherit half a house, but as mentioned there maybe costs in there retirement which eat into (if not eat all off) any inheritance I may stand to gain.

As said I want to live now and can't wait for inheritance to get a home for my wife to be and hopefully not too distant future children.

With that if/when inheritance yes it will be a great help and I would probably do the sensible thing of pay a nice chunk off my mortgage, but also at that point I will do what is needed to make sure its enough to get my brother onto the housing market even if that means an unfair split in his favour.

Maybe I am not the 'f**k the rest, I'm ok' kind of guy.

ukcarper

Percy1983 wrote: »

So I shouldn't be able to buy a house until my parents die?

With that I don't expect a penny off them, Yes if they die now I will inherit half a house, but as mentioned there maybe costs in there retirement which eat into (if not eat all off) any inheritance I may stand to gain.

As said I want to live now and can't wait for inheritance to get a home for my wife to be and hopefully not too distant future children.

With that if/when inheritance yes it will be a great help and I would probably do the sensible thing of pay a nice chunk off my mortgage, but also at that point I will do what is needed to make sure its enough to get my brother onto the housing market even if that means an unfair split in his favour.

Maybe I am not the 'f**k the rest, I'm ok' kind of guy.

Moaning continually about baby boomers will not get you a house. I admit it is more difficult to buy now. But if I was in the same position now as I was 40 years ago when I first bought I would still be able to buy ok it might be a flat instead of a terrace house but I could buy.

System

Percy1983 wrote: »

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

You'd do well to use inflation adjusted numbers.

JonnyBravo

Percy1983 wrote: »

As said I want to live now and can't wait for inheritance to get a home for my wife to be and hopefully not too distant future children.

You're already getting your OH to pay off your debts for you. Sounds like you've done enough of the "living now" and need to have a few years of the "saving now" like most people do to get a deposit.

Percy1983 wrote: »

Maybe I am not the 'f**k the rest, I'm ok' kind of guy.

Absolutely. I'm sure your OH is grateful for the opportunity to pay off your debts.
And you think landlords are parasites? :T

DervProf

Sibley wrote: »

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.

You had better hope that someone cares if they see you injured after an accident.

You`d be glad someone cared enough to help you out in an emergency situation.

Your family probably includes one or two members of the next generation. Let`s hope they don`t turn out like you..... "Me, me, me ! I want more, and I don`t care if others go without." I`ve seen a fair few people behave like that, and it ain`t a pretty sight.

I don`t care about the value of the house that I own. I`m telling the truth, call me a liar if you wish, but you would be wrong.

Percy1983

Good digging there Jonny.

To put it simply, we both had a debts from earlier days while training etc, we meet fall in love and after a few years start looking at finances (I will add before I asked her to marry me). As it is the debts are totalled and the ratio is approx 3:1 (me:her) and I was more than happy to just keep paying etc. Then as a couple we look at it and figure it would be quicker to combine debts and just pay worse interest rates first and shift things around between us ignoring whos name is on it (as it is this idea has saved us £1000's in interest, literally).

Now I will admit the debt payments are approx 2:1 and as mentioned the starting point was 3:1 so yes she will be paying some of my debt, but then the deposit will be 2:1 in my favour, bills 2:1 etc. So if we where to add it up long term this relationship is going to cost me more than her, is she a parasite? no, am I a parasite? no.

I will add I haven't forced any of the above and we have both gone into this as a couple of well informed adults, its about making our joint dreams happen faster, there is no dark motives, no intention to rip anybody off. By all means if she didn't suggest it, we would still both be paying debts are higher interest rates and it would take us both longer to clear everything and of course that would have a knock on effect on when we start saving etc.

Yes it would get to a point when she would be debt free and I would still be paying, to which she could blame me for delays, then we could get a house and insist bills are paid 50:50 which would leave me a lot more money than her, guess what... we aren't like that.

You could call it team work, its a thing couples who love each other do.

Don't you worry, I did the 'living now' (or you could call it getting ripped off while training and using debt to maintain a normal life) and I am well and truly into the 'saving now' phase which is going perfectly, I can assure you I am not just sitting here moaning and I am doing something about it all, I now have a great income a small(ish) amount of debt and the potential to save a lot of money. In short I am in an excellent position compared to many my age.

Basically I can afford a house at there current prices, I am just not happy about paying so much, maybe thats just the trade I work in

Sorry for the long post, just pointing out how one fact doesn't make the whole picture.

JonnyBravo

blah blah blah....

What a surprise so there's a big long story behind your debts and it's all perfectly reasonable.
I won't bother about giving you the story about how I ended up being a landlord (or parasite), whichever phrase you want to use today, but suffice to say it too isn't covered by your simplistic generalisations.
I wonder if your work requires something more complex and you come here to act the fool for some light relief, or whether your work has the level of complexity your recent posting history suggests?

Cleaver

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.

I will never really understand this point of view. For two reasons really (but both are linked):

1) The line you've written which I've put in bold. It's swings and roundabouts isn't it? They have money in housing, we have access to cheap, worldwide travel. They have a decent pension, we have access to start your own business through the internet that they never ever had. They couldn't have gay relationships for fear of social exclusion, we can generally express ourselfs as we wish. They (as far as I can see) had far less disposable income and money to spend on entertainment, travel and culture, we're probably the richest generation when it comes to access to these types of things at a low price. Housing is just one, small thing and who really cares anyway? Swings and roundabouts. Yes, my parents made money from housing but I think I have a better lifestyle than they did, including more opportunities and excitement.

2) You make it sound as though boomers had a massive and organised plan between themselves to make a shed-load of money through housing. Which isn't really the case as far as I can see, it's just something that happened due to a load of complex factors, many of which were nothing to do with the everyday home owner.

So the boomers made money from housing, but that's just history isn't it? Make your own luck in life and stop moaning about it. You say that they're making money through not much effort, but does the internet guru who makes money from ad clicks make much of an effort? Same difference isn't it?

Cleaver

Sibley wrote: »

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

If you knock up one of those many prostitutes you're fond of sleeping with then you'll have someone in a future generation who is also in your family, so your statement becomes a bit of an oxymoron.