Shocking advice for the MPC (Ms Flanders)

chucky

ILW wrote: »

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.

when i mentioned "political logic" do you think children take much notice of politics, it's the parent the home owner that is swayed by political policy...

please feel to continue to be a pedant...

chucky

dopester wrote: »

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).



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.

as always Dopester a well thought out reply.

my post was more of a question to provoke your thoughts which as you usually do gives me a different angle and appreciation of people's positions in all of this economic craziness that is going on.

Spartacus_Mills

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.

Unless you own it outright (or have no secured debt on it) it is not your house. Unless you have paid what you owe on it you do not deserve the asset.

ILW

chucky wrote: »

when i mentioned "political logic" do you think children take much notice of politics, it's the parent the home owner that is swayed by political policy...

please feel to continue to be a pedant...

By children I did not necessarily mean babies. I would suggest that out of the 70% there are a fair proportion of say 2 adults and 2 offspring in their 20s who would love to move out and buy their own homes and would love to see a fall in prices, the parents may also like it as it would save them having to become "bank of mum and dad" and get themselves into debt. So I believe your assumption that all owner occupied homes want to see rising prices is mistaken. If only a quarter would like falls then that puts the bears in the majority.

Loughton_Monkey

setmefree2 wrote: »

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

Spring has been cancelled next year. (Government Cuts).