What is wrong with wanting cheaper homes

Jimmy_31

RenovationMan wrote: »

Thing is though shortchanged, when will you get it into your head that your post makes no sense in the context of what we are discussing?

I'm the one agreeing with Lilac Pixie and saying that low paid workers shouldn't be loaned excessive amounts, Graham is the one who seems to be saying that it's unfair that low paid workers are being prevented from buying properties that are out of their financial reach. In this context your post is meaningless, because you're preaching to the Choir. Graham is the one advocating lax lending, not me.

The problem is that people don't want to buy a starter home and feel their first house should be a 3 bed semi but then baulk at the fact that a 3 bed semi costs more than a starter home.

Did you just completely make that last bit up.

RenovationMan

homelessskilledworker wrote: »

I am just saying there is no property ladder right now, and there is every lilelyhood that there will be no ladder in 15 years of waiting for some.
I am sure there are many who thought within a 15 year period they would end up after a handfull of moves in the house they aimed for to only find they are still stuck in the shoebox they started with.

I'm sure that a lot of people have dreams that don't come true. My own dream of retiring at age 40 petered out after 15 years of hard work, only to find that I was still stuck in work. I couldn't afford to retire and it's not fair.

DervProf

RenovationMan wrote: »

Bears have been saying for years that people who can't afford to buy a house unless they got upto their eyeballs in debt SHOULDN'T have been allowed to get a mortgage. You got your wish and stricter lending criteria has come in and now you're all wringing your hands and bleating about how cruel it all is that low paid people can no longer get mortgages.

And the Bears were saying the right thing, in my opinion (I was saying the same).

I thought lending was "too loose" for a while, and that helped to fuel HPI. Effectively, loose lending has contributed to where we are now. A three way Mexican standoff between the banks who are now doing what they should have done ~8 years ago, buyers who often can't borrow enough and vendors who can't bear (pun intended) to drop their asking prices, because "the asking price is what it's worth".

We are reaping the reward for several years of a property market that many people thought was "free money". It was a bit crazy for a while, and I knew it would end in tears. I reckon a large proportion of the population would be "lovin' it" if high HPI were to return. The media would be falling over themselves to remind us at every opportunity that the average homeowner is £xxxx better off than a month ago. All it would take is for those nasty banks to be a bit more generous.

Lets' face it, this country does seem to be quite obsessed with the property market, hence we are here having this discussion. The trouble is that too many are obsessed with rising property prices, the mere suggestion that prices could, or should fall is often met with denial or ridicule. The only way is up, apparently. And if prices aren't going up, the banks/BoE should jolly well do something about it !

shortchanged_2

RenovationMan wrote: »

Thing is though shortchanged, when will you get it into your head that your post makes no sense in the context of what we are discussing?

What. The fact that the thread is called 'what's wrong with wanting cheaper homes' and me stating that high house prices were the cause of all the problems we have now within the housing market is not relevent?

DervProf

RenovationMan wrote: »

The problem is that people don't want to buy a starter home and feel their first house should be a 3 bed semi but then baulk at the fact that a 3 bed semi costs more than a starter home.

Which people are these ?

I know of a few young(ish) people who would like to be able to afford a 1 bed starter home, who certainly aren't asking for anything bigger/better.

No doubt there are those who have over optimistic expectations, but I don't seem to meet many of them.

homelessskilledworker

RenovationMan wrote: »

I'm sure that a lot of people have dreams that don't come true. My own dream of retiring at age 40 petered out after 15 years of hard work, only to find that I was still stuck in work. I couldn't afford to retire and it's not fair.

???????

I am not saying if it is right or wrong or if it is good or bad, I am just saying many will be in the situation that I outlined, and probably most of them will be p***d off the more years that pass, A similar feeling to what many renters are probably feeling.

Graham_Devon

Jimmy_31 wrote: »

Did you just completely make that last bit up.

The whole lot was completely made up. That's the whole aim.

For some bizzare reason.

Jimmy_31

Graham_Devon wrote: »

The whole lot was completely made up. That's the whole aim.

For some bizzare reason.

His avatar is well suited to him:)

Euphoria1z

Jimmy_31 wrote: »

His avatar is well suited to him:)

why cant i see anyones avatar?

what does his avatar show?

Jimmy_31

Euphoria1z wrote: »

why cant i see anyones avatar?

what does his avatar show?

A mad man running full steam ahead with a spanner and a toolbox.

He could do with slowing down a bit.

Mind you that would slow down the amount of equity hes building up in his house as hes currently adding 10 to 20ks worth of value every week with that toolbox:D