Shocking advice for the MPC (Ms Flanders)

setmefree2

How, you might ask, could a sharp fall in house prices possibly help the economy? It would help because it would get it over with.Stepahnie Flanders quoting Fathom Consulting

The UK housing market isn't going to collapse. There is going to be a big spring bounce in 2011

chucky

dopester wrote: »

I'm ready to take my own house if that happens in this country; by force if necessary - from people who don't deserve to have the asset.

how do you classify who "deserves the asset"?

who decides that your logic is correct and the in-debted house owners logic is wrong... what happened to let the political and house market play out to it's own result?

Graham_Devon

chucky wrote: »

what happened to let the political and house market play out to it's own result?

That's exactly what wouldn't be happening, to be fair.

In effect, it would be rigged in the favour of homeowners enormously.

chucky

Graham_Devon wrote: »

That's exactly what wouldn't be happening, to be fair.

In effect, it would be rigged in the favour of homeowners enormously.

you miss the pretty obvious point that the majority of people are home owners.

why would you help 20% of the population to the detriment of 70% - what kind of economic, social or political logic is that?

Graham_Devon

chucky wrote: »

you miss the pretty obvious point that the majority of people are home owners.

why would you help 20% of the population to the detriment of 70% - what kind of economic, social or political logic is that?

The tune you are playing has just done a U-Turn change of direction in one single post.

Anyway, what about the other 10%?

chucky

Graham_Devon wrote: »

The tune you are playing has just done a U-Turn change of direction in one single post.

Anyway, what about the other 10%?

this kind of response is the very reason that i treat you like the village idiot that you are...

it's shocking that there are people like you mixing with normal people in the real world...

i'll wait for dopester to come back to me with something to discuss instead of your frothing....

ruggedtoast

dopester wrote: »

Hey.. it's not me gifting away free houses in a sicko system, whilst others have baulked at the amount they'd have to borrow in order to acquire the same house during the boom years... and have spent years incuring the costs of renting whilst trying to save more towards their target.

Running a sicko system you're gonna get a reaction. I'm on the verge of snapping as it is.

I agree its frustrating but upsetting yourself more isnt going to help.

We are quite some way from a wholesale debt writeoff.

Spitakimus14

setmefree2 wrote: »

The UK housing market isn't going to collapse. There is going to be a big spring bounce in 2011

hope your right:T

ILW

chucky wrote: »

you miss the pretty obvious point that the majority of people are home owners.

why would you help 20% of the population to the detriment of 70% - what kind of economic, social or political logic is that?

You are wrong there.
The majority may live in owner occupied houses, but are not homeowners, unless you consider the children of homeowners to part own the house they live in.

dopester

In the US it might make a sort of sense, where otherwise whole areas would fall into wastelands in some hick town... I don't know, but in general theory I'm universally against it. (Mortgage debt forgiveness).

chucky wrote: »

how do you classify who "deserves the asset"?

who decides that your logic is correct and the in-debted house owners logic is wrong... what happened to let the political and house market play out to it's own result?

Had typed a long answer to this but prior to hitting 'submit return' went downstairs to think and watch Sky+ and the season 4 double-episode finale of Dexter. Now returning to my PC... deleting it.. not adquate. I'd choose like Dexter I suppose - selectively... even if it's unfair and even if innocents get hurt in the proccess. Innocents have already suffered in the process during the lending party and now calls to cancel their debts.

I was just venting at Michaels post anyway... it had an air of it being perfectly acceptibly fair way to proceed... by letting people off their mortgage debts and giving them the home, over-riding normal free market market disciplines.

In honesty I can't see me ever forcably dispossessing someone of a home - but can have fun imagining it, or imagining many others revolting against a system where others who can't service their debts are given the asset where others have long saved up to buy a similar asset.

At the same time I'd be against people who think they've got a claim doing similar against others... such as people angry they're in so much debt because they blame the nasty bankers for overlending to them.

With good reason I suspect significant and widespread mortgage debt forgiveness would undermine all property rights - even for owners who paid off their mortgage yonks ago. They would benefit by debt-forgiveness via the value of their asset not falling... so could sell for more via STR or some inheritor would acquire an asset of greater value. It's unfair for those of us reliant upon ourselves to advance ourselves and a free market. If you want a section of the 70% of homeowners bailed out from debts, maybe you should start a privately funded donation vehicle towards it?

Anyway... encouragingly RBS or Lloyda has put a charge of Gordon Ramsey's house towards his company's debts, according to yesterday's Daily Mail... so no sign of debt forgiveness down London way yet.