We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
There is two sides to this story... repossessions
Comments
-
CML make no mention of 800,000 - that's PPR's assumption plucked out of thin air which they have somehow correlated from CML's 2% figure.
But there are roughly only around 10m people with mortgages. 2% of that would give 200,000, which is near enough to what CML themselves say are 3 month in arrears.
The opening paragraph of the article......
Repossessions increased by 5pc over the last year, according to the Council of Mortgage Lenders (CML), as more than 800,000 homebuyers struggled to meet monthly bills – despite interest rates remaining frozen for nearly three years.
It might be that the 800K figure didn't come from the CML, but in the current economic climate, I don't think that 800K homebuyers stuggling to meet monthly bills is hard to believe.
Again, the bloke from PPR did not state that 800,000 homebuyers were in arrears. As Hamish said earlier, the wording might be a bit misleading, but using a bit of intelligence, I think I understand what the article is trying to say.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
The opening paragraph of the article......
Repossessions increased by 5pc over the last year, according to the Council of Mortgage Lenders (CML), as more than 800,000 homebuyers struggled to meet monthly bills – despite interest rates remaining frozen for nearly three years.
It might be that the 800K figure didn't come from the CML, but in the current economic climate, I don't think that 800K homebuyers stuggling to meet monthly bills is hard to believe.
Again, the bloke from PPR did not state that 800,000 homebuyers were in arrears. As Hamish said earlier, the wording might be a bit misleading, but using a bit of intelligence, I think I understand what the article is trying to say.
PPR have just magicked the 800,000 figure based on CML stats which say only 180,000 are 3 months in arrears.
Believe them if you wish but there is no data from anywhere to substantiate their claim.If I don't reply to your post,
you're probably on my ignore list.0 -
PPR have just magicked the 800,000 figure based on CML stats which say only 180,000 are 3 months in arrears.
Believe them if you wish but there is no data from anywhere to substantiate their claim.
Their extravagent claim that 800,000 homebuyers are struggling to pay their monthly bills ?
I suppose that does sound far fetched.
30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Their extravagent claim that 800,000 homebuyers are struggling to pay their monthly bills ?
I suppose that does sound far fetched.
Indeed. Especially coming from a company specializing in buying up repossessed property.
If I don't reply to your post,
you're probably on my ignore list.0 -
http://uk.reuters.com/article/2012/02/09/banksproperty-idUKL5E8D63B220120209?rpc=401&feedType=RSS&feedName=privateEquity&rpc=401
OK, here is another one to throw into the debate.
Again I have no idea how patient lenders are being or how much more debt they are allowing those in arrears to build up.
I suspect the UK has never in it's history been so tolerant to those who default or are in serious debt and walk away from their obligations.
Anyone in the UK now that has £10,000's or even £100,000's of debt can if he chooses tommorrow morning can just walk away from it with minor pain.0 -
homelessskilledworker wrote: »http://uk.reuters.com/article/2012/02/09/banksproperty-idUKL5E8D63B220120209?rpc=401&feedType=RSS&feedName=privateEquity&rpc=401
OK, here is another one to throw into the debate.
That article is about commercial property. Different situation entirely.Anyone in the UK now that has £10,000's or even £100,000's of debt can if he chooses tommorrow morning can just walk away from it with minor pain.
Really? Minor pain?
Being hounded by the banks and forced into declaring bankruptcy is not minor pain.“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”0 -
Its really simple. If people can no longer afford their homes then they must sell and downsize or rent. I do not see why the state ,backed up by tax payers,should by some circuitous route,keep these people in the comfort to which they have become accustomed.Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0
-
C_Mababejive wrote: »Its really simple. If people can no longer afford their homes then they must sell and downsize or rent. I do not see why the state ,backed up by tax payers,should by some circuitous route,keep these people in the comfort to which they have become accustomed.
Depends on how long they need support and the reasons behind it. If someone has worked for years and paid their taxes and then get made redundant and needs a helping hand until they get back on their feet, then I don't see the problem with the state providing that helping hand.0 -
-
johnny_storm wrote: »Yes, but just think how exciting it is for the people who buy their house for an absolute steal!
Telling me.
And then I'll aim to rent it to people just like them to make it even more thrilling. :roll eyes:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards