Why do many people on here seem to think that rising house prices are good?

ManAtHome

LOL, yes, but maybe not that far off the mark...

nelly_2

nogginthenog wrote:

I pesonally want interest rates to rise because i fundamentally believe it benefits the thrifty amongst us. Low interest rates tend to benefit the vulgar
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The vulgar <

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:rotfl: :T

Out of the 50 billion posts on this site thats the funniest one ever!

nogginthenog

I simply regard people who judge themselves and other people by how much money they have, and what pesonal possesions they own as vulgar, and i believe easy money does encourage this.
I judge people by good manners,honesty, and kindness,good humour,the the quality of their conversation etc.
I know this may be a novel concept to many,but that is the way i am,like it or lump it!

leftieM

Surely such people are victims of advertising etc? Our society judges people by what they possess - no wonder people get themselves in debt to keep up.

PosterBoy77

bazzzz wrote:

Rising house prices are good because you can use your house as a cash machine and buy lots of stuff you can't afford like 4x4s and plasmas and designer clothes and go skiing twice a year in America, so that you can give the neighbours and strangers in the street the impression you are more successful financially than you actually are and to hide the fact you are an inadequate human being who is probably very greedy for exploiting the bank's negligent lending practices.

And when you can't afford the repayments you get an IVA and keep all the loot despite the fact you knew right from the start you could not afford to do any of this.

That's why rising house prices is a good thing.

I realise this is a sarcastic post, but I think many people do really feel richer because the paper value of theur house has increased. However I'm amazed how few can see than remortgaging to buy consumer items is not really any different to just getting a secured loan at a fairly low rate. These days the banks seem so lax with their lending that you could probably borrow just as much even if you were not able to remortgage.

Debt on a mortgage still has to be paid back too. I just don't get how taking on more debt makes a person richer.

PosterBoy77

leftieM wrote:

Surely such people are victims of advertising etc? Our society judges people by what they possess - no wonder people get themselves in debt to keep up.

However, most people are equipped with a brain and if they realise they are spending more than they earn, they should do something about it.

Alan_M_2

nogginthenog wrote:

I simply regard people who judge themselves and other people by how much money they have, and what pesonal possesions they own as vulgar, and i believe easy money does encourage this.
I judge people by good manners,honesty, and kindness,good humour,the the quality of their conversation etc.
I know this may be a novel concept to many,but that is the way i am,like it or lump it!

One of the most pleasant customers I have is also the wealthiest person I know, by a long margin, worth 10's of millions..yet you wouldn't know it if you saw him.

The people I've come across who are genuinely wealthy seem very comfortable with themselves and have no reason to put on a show of wealth. On the grounds that most of them genuinely don't care what other people think, would they?

It often seems to be the grasping classes up to their eyeballs in leveraged lending that seem to want to show you how much money they have, or appear to have, as the case may be.

Alan_M_2

bazzzz wrote:

Rising house prices is good because you can use your house as a cash machine and buy lots of stuff you can't afford like 4x4s and plasmas and designer clothes and go skiing twice a year in America, so that you can give the neighbours andRising house prices are good because you can use your house as a cash machine strangers in the street the impression you are more successful financially than you actually are and to hide the fact you are an inadequate human being who is probably very greedy for exploiting the bank's negligent lending practices.

And when you can't afford the repayments you get an IVA and keep all the loot despite the fact you knew right from the start you could not afford to do any of this.

That's why rising house prices is a good thing.

Why do people see an IVA as some form of easy way out? It's only slightly less restrictive than bankrutpcy and was designed for entrepreneurs to enable them to try again if they didn't get it right first time around (basically it doesn't preclude you from being a company director or holding bank accounts).

You're still required to sell any personal assets you may have to clear as much of the set as possible.

PosterBoy77

Alan_M wrote:

One of the most pleasant customers I have is also the wealthiest person I know, by a long margin, worth 10's of millions..yet you wouldn't know it if you saw him.

The people I've come across who are genuinely wealthy seem very comfortable with themselves and have no reason to put on a show of wealth. On the grounds that most of them genuinely don't care what other people think, would they?

It often seems to be the grasping classes up to their eyeballs in leveraged lending that seem to want to show you how much money they have, or appear to have, as the case may be.

That is very true. The few people I have come across who are actually wealthy (who have not bought everything they have on credit) can often afford far more than when they do have and don't care what others think of them.

PosterBoy77

Alan_M wrote:

Why do people see an IVA as some form of easy way out? It's only slightly less restrictive than bankrutpcy and was designed for entrepreneurs to enable them to try again if they didn't get it right first time around (basically it doesn't preclude you from being a company director or holding bank accounts).

You're still required to sell any personal assets you may have to clear as much of the set as possible.

You are right, but can suit many debtors who have bought goods and services that have little residual value, such as holidays, clothes and booze. I could imagine that many people in the UK have spent lots of borrowed money with nothing to show for it. These people have nothing to loose from the IVA route.