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The Myth of Risky Mortgage Lending

124

Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »

    See numerous previous posts on the subject of the causes of the recession and hpc.

    The numerous posts by you suggesting is was all America's fault and we didn't have anything to do with it?

    You really will struggle to suggest that a healthy economy will be gained by increasing the cost of living. :) That's just stupid. :) But to be expected. :)

    Edit: Added a smiley just incase I get PPR'd for disagreeing with you as that could be seen as being nasty.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Graham_Devon wrote: »
    The numerous posts by you suggesting is was all America's fault and we didn't have anything to do with it?

    And quoting numerous sources establishing the same, yes.
    You really will struggle to suggest that a healthy economy will be gained by increasing the cost of living.

    By increasing asset values for the majority.;)
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • The_White_Horse
    The_White_Horse Posts: 3,315 Forumite
    i blame lefties. that comment is not glib.
  • ILW
    ILW Posts: 18,333 Forumite
    HAMISH_MCTAVISH wrote: »
    And quoting numerous sources establishing the same, yes.



    By increasing asset values for the majority.;)

    The majority of the UK population are not property owners though.
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Another week another moan from the CML
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    By increasing asset values for the majority.;)

    I'm sorry, but how does the value of my house going up 100% overnight, make me able to spend more in the economy tommorow or the week after?
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Graham_Devon wrote: »
    I'm sorry, but how does the value of my house going up 100% overnight, make me able to spend more in the economy tommorow or the week after?

    You would think all these people owned their houses outright and weren't worried about a slight rise in IR, energy rises, food price increases etc etc etc
  • jjlandlord
    jjlandlord Posts: 5,099 Forumite
    ILW wrote: »
    The majority of the UK population are not property owners though.

    I believe that the rate of home ownership is ~70%, so the majority of the population are property owners.
  • The_White_Horse
    The_White_Horse Posts: 3,315 Forumite
    Graham_Devon wrote: »
    I'm sorry, but how does the value of my house going up 100% overnight, make me able to spend more in the economy tommorow or the week after?

    because if you have confidence that your house will only go up in value, you may (a) borrow against it and spend that on improvements or consumer goods or (b) decide to buy another house (either trading up or a second home) - which you wouldn't if you thought prices would fall.
  • ILW
    ILW Posts: 18,333 Forumite
    jjlandlord wrote: »
    I believe that the rate of home ownership is ~70%, so the majority of the population are property owners.

    Sorry, but that is not the case.

    Around 17 million homes in the UK are privately owned against a population of around 70 million.

    Just because you live in an owner occupied house does not mean you own it.
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