BTL Boom continues

IveSeenTheLight

Emy1501 wrote: »

There is no evidence that high owner occupancy is good for a county and the eurozone countries show that.

I'm sorry, is there evidence or not?
Referring to the OP, I remarked on his comments could the expansion of BTL continue, to which I replied it is and will as long as there is a restriciton of credit to would be home owners.

I make no reference to whether it's good for a country or not.
That said, the tax revenue obtained from property transactions must be good for the treasury.

I do believe it's good for the individual

Emy1501 wrote: »

New lending practises will continue to reduce home ownership which is probably a good thing in th long. The US has shown what happens when you try to open up homeownership to everyone and anyone

No arguments there. You are also in agreement then that the expansion of BTL can continue.

wotsthat

Emy1501 wrote: »

What's the dream? Bears like everyone else are interested in their own agenda. They want prices to fall so they can get a cheap house. They are not overly worried about the wider public.

It bit like those who want lending relaxed to help FTB again they are not interested in FTBs they are just looking for a way to increase the price of their assests

Everyone's got their own agenda and vested interest. The better posters here, on both sides of the debate, are still able to enter into reasoned argument despite this.

Some pretend that their main concern is the wider public, the economy, future generations, pensioners, kittens etc. whilst just wanting houses to fall/ rise for their own narrow ends. It's quite hypocritical but fortunately quite easy to spot.

Emy1501 wrote: »

There is no evidence that high owner occupancy is good for a county and the eurozone countries show that. New lending practises will continue to reduce home ownership which is probably a good thing in th long. The US has shown what happens when you try to open up homeownership to everyone and anyone

I think you've got this completely wrong. Take a walk around any reasonably sized town or city. As you're doing that take a guess whether the area you're in has a high level of owner-occupiers or low. Go to any housing estate that's mainly owner occupied - see if you can spot the 'affordable' housing.

On my estate the social housing bit has pretty much the same quality of houses but there's more litter, unruly kids and police interest. Undoubtably there are other factors but owner occupiers will have a different attitude to their houses and local areas.

I'm usually quite optimistic and try and see the positive side. House prices rise - well that's ok - I own two. House prices fall - well that's ok - I'm paying off more capital than the falls, it's still cheaper than renting etc. However, currently I'm struggling to be optimistic - as far as I'm concerned a load of equity has disappeared and I can't even tell myself that there's a social benefit.

Percy1983

To put it simply...

You can't stop greed.

RenovationMan

Emy1501 wrote: »

What's the dream? Bears like everyone else are interested in their own agenda. They want prices to fall so they can get a cheap house. They are not overly worried about the wider public.

It bit like those who want lending relaxed to help FTB again they are not interested in FTBs they are just looking for a way to increase the price of their assests

At last, some refreshing honesty! In the same vein of honesty (though I've said this for 2 years anyway) I want the economy to stay in Austerity Mode because I benefit more from low mortgage rates than I ever have or ever would benefit from HPI or a booming economy.

Now if those 'homeowning bear' would stop their claptrap of wanting houseprice falls for the good of the Human Race, and admit they do it because they aren't personally impacted financially by falling house prices and they simply want to mock/have a rumble on an internet forum with those that are impacted financially by falling house prices.

Percy1983

RenovationMan wrote: »

At last, some refreshing honesty! In the same vein of honesty (though I've said this for 2 years anyway) I want the economy to stay in Austerity Mode because I benefit more from low mortgage rates than I ever have or ever would benefit from HPI or a booming economy.

Now if those 'homeowning bear' would stop their claptrap of wanting houseprice falls for the good of the Human Race, and admit they do it because they aren't personally impacted financially by falling house prices and they simply want to mock/have a rumble on an internet forum with those that are impacted financially by falling house prices.

That is an interesting point, I must say I do want house prices to fall for the good of the human race, to be more exact my brother and many friends who are priced out.

wotsthat

Percy1983 wrote: »

To put it simply...

You can't stop greed.

Is that something to do with this thread or just a general comment on human nature?

Emy1501

wotsthat wrote: »

I think you've got this completely wrong. Take a walk around any reasonably sized town or city. As you're doing that take a guess whether the area you're in has a high level of owner-occupiers or low. Go to any housing estate that's mainly owner occupied - see if you can spot the 'affordable' housing.

On my estate the social housing bit has pretty much the same quality of houses but there's more litter, unruly kids and police interest. Undoubtably there are other factors but owner occupiers will have a different attitude to their houses and local areas.

I'm usually quite optimistic and try and see the positive side. House prices rise - well that's ok - I own two. House prices fall - well that's ok - I'm paying off more capital than the falls, it's still cheaper than renting etc. However, currently I'm struggling to be optimistic - as far as I'm concerned a load of equity has disappeared and I can't even tell myself that there's a social benefit.

Spain and Ireland have the highest owner occupancy in the Eurozone and Germany has one of the lowest along with France. In an ideal world everyone would own but you are always going to have nice and poor area's how ever you look at the matter.

The reality is not everyone can own for various reasons the main one is that a small part of society will never earn enough or have the financial sense to buy. The US have tried and failed with trying to lend to everyone and anyone and I'm not sure why the plan would work here.

For me sensible lending is the way forward and improving social housing and the rental market.

wotsthat

Percy1983 wrote: »

That is an interesting point, I must say I do want house prices to fall for the good of the human race, to be more exact my brother and many friends who are priced out.

After years of moaning about greedy BTL's and how it was so unfair that you were born in 1983 and other people were born earlier etc. etc. you managed to save up a deposit in a matter of months.

Why can't your brother do the same?

wotsthat

Emy1501 wrote: »

Spain and Ireland have the highest owner occupancy in the Eurozone and Germany has one of the lowest along with France. In an ideal world everyone would own but you are always going to have nice and poor area's how ever you look at the matter.

The reality is not everyone can own for various reasons the main one is that a small part of society will never earn enough or have the financial sense to buy. The US have tried and failed with trying to lend to everyone and anyone and I'm not sure why the plan would work here.

For me sensible lending is the way forward and improving social housing and the rental market.

I'm not arguing for everyone to own nor against sensible lending.

You didn't mention whether you'd be able to make a guess about the level of rental in an area just by the look and feel of it. I can and I think the two are linked - if rental continues to increase we'll see more of those areas.

I'm very lucky to live in an area where owner-occupier rates are high - guess you do too.

Emy1501

wotsthat wrote: »

I'm not arguing for everyone to own nor against sensible lending.

You didn't mention whether you'd be able to make a guess about the level of rental in an area just by the look and feel of it. I can and I think the two are linked - if rental continues to increase we'll see more of those areas.

I'm very lucky to live in an area where owner-occupier rates are high - guess you do too.

I not sure of the point you are making. In this country owner occupied areas are always going to be nicer as they are owned by people of a higher social class. The most well off are always going to buy if they can.

At the same time an owner occupied area in guildford is always going to look better than one in say Hull.