Debate House Prices
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who are the winners?
Batchy
Posts: 1,632 Forumite
So who are the winners going to be...
When a significant proportion of mortgage holders are in negative equity, can't sell and wont sell, only repossession to look forward to.
When banks are losing money hand over fists on repossessions
When unemployment stands at over 25%, and you dont have an annual salary rise, you have a discussion about a cut as there are plenty of others out there who would like to fill your shoes
When no FTBers or STRers can get a mortgage of any kind
When millions of people are homeless and millions of homes stand empty
When it costs more to buy a new (inflated and heavily depreciating) car than it does to buy a house, and have to wait 12 months before its built.
When there is no Health service any more
When our pensions are worth nothing, no such thing as retirement
When people who work have to spend more on security than they earn to safegaurd themselves from crime.
Why is it that people still wish for the armageddon in the housing market, when... there will be no winners when there is a failed economy.
The only winners will be the cash rich, and debt free home owners. Minority ... surely.
How many people could live off their cash balance from now to your untimely departure, with rampant inflation, and 0% interest rates?
When a significant proportion of mortgage holders are in negative equity, can't sell and wont sell, only repossession to look forward to.
When banks are losing money hand over fists on repossessions
When unemployment stands at over 25%, and you dont have an annual salary rise, you have a discussion about a cut as there are plenty of others out there who would like to fill your shoes
When no FTBers or STRers can get a mortgage of any kind
When millions of people are homeless and millions of homes stand empty
When it costs more to buy a new (inflated and heavily depreciating) car than it does to buy a house, and have to wait 12 months before its built.
When there is no Health service any more
When our pensions are worth nothing, no such thing as retirement
When people who work have to spend more on security than they earn to safegaurd themselves from crime.
Why is it that people still wish for the armageddon in the housing market, when... there will be no winners when there is a failed economy.
The only winners will be the cash rich, and debt free home owners. Minority ... surely.
How many people could live off their cash balance from now to your untimely departure, with rampant inflation, and 0% interest rates?
Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
0
Comments
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The winners will be those people who have solid jobs, have learned to live within their incomes and are realistic enough to know not to rely on a government to help them.0
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It's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
Winners are those whose income has gone up/stayed same and on tracker mortgage, which in turn gives them more disposable income at the end of the month.
The govt. is expecting them to spend that money in market so that businesses can thrive.
When businesses thrive, they hire more people which in turn circulates more money and so on.
So winner is either only few people or everyone, depends on how far you can see
Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0 -
but if everyone is spending rather than saving, then the banks, capitalisation... is surely failing miserably, and as no one manufacturers anything in this country any more... where is all the money we are spending going... ie, out of our precious country... I dont entirely understand (banking) but time will tell.Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
but if everyone is spending rather than saving, then the banks, capitalisation... is surely failing miserably
It is not an exact science and even banks can't predict always correctly. That's why BoE reviews the situation frequently and acts accordingly.
In all financial decisions, some people will be losers and some will be winners. The trick is getting balance right (but what is right is again debatable).Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0 -
So who are the winners going to be...
The usual people. Entrepreneurs. The big corporations. Government workers - national and local - with high pensions and high job security.
The UK economy doesn't 'make' any money. We are 'losers' in the world economy. Losers to countries like China, India, and other Asian countries. Russia. Those with natural resources.
So the only way to 'make' money is to ladle it out of the GDP in circulation. We still have a good deal of money circulating, but it's just getting smaller all the time in real terms. This will continue until (a) We drop the ludicrous 'Nanny State' inefficiencies of Minimum Wage, Super-high benefits, unbalanced employment rules, .... or (b) China and other emerging economies rapidly build up their own restrictive legislation that makes them just as uncompetitive as we are.
Which do you think is more likely?0 -
So who are the winners going to be...
When a significant proportion of mortgage holders are in negative equity, can't sell and wont sell, only repossession to look forward to.
When banks are losing money hand over fists on repossessions
When unemployment stands at over 25%, and you dont have an annual salary rise, you have a discussion about a cut as there are plenty of others out there who would like to fill your shoes
When no FTBers or STRers can get a mortgage of any kind
When millions of people are homeless and millions of homes stand empty
When it costs more to buy a new (inflated and heavily depreciating) car than it does to buy a house, and have to wait 12 months before its built.
When there is no Health service any more
When our pensions are worth nothing, no such thing as retirement
When people who work have to spend more on security than they earn to safegaurd themselves from crime.
Why is it that people still wish for the armageddon in the housing market, when... there will be no winners when there is a failed economy.
The only winners will be the cash rich, and debt free home owners. Minority ... surely.
How many people could live off their cash balance from now to your untimely departure, with rampant inflation, and 0% interest rates?
I've lived through the tough times in the 80s & 90s through to today and like many millions of others, we just get on with it...0 -
I've lived through the tough times in the 80s & 90s through to today and like many millions of others, we just get on with it...
Well said. We are an industrious and intelligent people and I have nothing but optimism for the British people. No-one can deny that we are going through a bad patch at the moment but it is in no-one's interests for us to wallow in self pity.
When the going gets tough the tough get going.0 -
Anyone in the 'north' who is looking for a house.0
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