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Debate House Prices
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Why house prices are such an emotive issue....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
This post today by "echolocation" sums it up for me.
Indeed.
And there are plenty of them.
Which is why prices are increasing, and are not likely to fall.
Emotive nonsense, I'm afraid.
They're not being "deliberately and manipulatively screwed into completely unnecessary life-altering debt" at all.
Nobody is forcing them to buy a house. But as buying a house is cheaper than renting, they'd be barking mad not to.
Furthermore the debt is precisely what is necessary to buy a house. Not a penny more or less. If you want to buy, you must pay the going price, and borrow the required amount.
And as we have had a sustained shortage of housing for the best part of a decade, a shortage that is worsening rapidly thanks to the fallout from the "crash", then it's frankly a miracle houses are as cheap today as they are..... But they won't be for long.
As rents have soared to new highs, so eventually will house prices follow.
As the largest generation of FTB age people in history crashes into the lowest house building figures for a century, you'll soon enough find out what a proper boom looks like.
And it'll make the last one look like a molehill by comparison.
Is there a reason you want to condemn young people into a lifetime of renting? A lifetime of paying their landlords mortgage instead of their own? Of enriching someone else instead of themselves?
And while we're on this topic, what about the obvious greed and selfishness of trying to sucker young people into not buying? What about the endless facebook "buyers strike", newspaper comments section trolling, online poll rigging, etc etc etc.... All in a vain attempt to spook sentiment and crash the market.
And for what?
Prices up 10% since 2009, rents up 11% since 2009. But how many people have missed out on their chance at a house, a mortgage, and a stable future because of this propaganda as banks continue to tighten the screws through rate and deposit apartheid..... Hundreds, certainly. Thousands, possibly.
That's the real tragedy here.
The callous disregard for the future of Generation Rent, from a band of desperate and selfish crashaholics, leading them on and giving them false hope that prices will plummet, when the very opposite is about to happen.
Lobbying for, and cheering on, the very mortgage restrictions that have locked more of them out of homebuying than high prices ever did.
Failing to learn the lessons of the housing bears on here or elsewhere who have been out of the market since 2006, 2005, 2004, 2003, 2002 or even earlier, waiting forlornly for the great crash which never came.
Costing themselves tens or hundreds of thousands of pounds in increased lifetime housing costs.
And then bitterly giving up and buying anyway.
Still failing to see just how badly they got the market fundamentals wrong.
Trying to blame their mistakes on others, like a bad episode of Scooby Doo.....
"We'd have gotten away with it if it wasn't for those pesky 0.5% rates"
Only to then see a new batch of crashaholics conning young people into the same terrible mistake. Over and over again.
It's absolutely horrific.
No wonder we're emotive about the issue....:(
EchoLocation wrote:You know it's one thing to point out reasons, valid or otherwise, why house prices may have increased, may continue to increase or aren't likely to fall,
Indeed.
And there are plenty of them.
Which is why prices are increasing, and are not likely to fall.
it's quite another to be so gleefully delighted at every opportunity at the thought of continuing, and several current, generations being deliberately and manipulatively screwed into completely unnecessary life-altering debt for simply wanting to own a home.
Emotive nonsense, I'm afraid.
They're not being "deliberately and manipulatively screwed into completely unnecessary life-altering debt" at all.
Nobody is forcing them to buy a house. But as buying a house is cheaper than renting, they'd be barking mad not to.
Furthermore the debt is precisely what is necessary to buy a house. Not a penny more or less. If you want to buy, you must pay the going price, and borrow the required amount.
And as we have had a sustained shortage of housing for the best part of a decade, a shortage that is worsening rapidly thanks to the fallout from the "crash", then it's frankly a miracle houses are as cheap today as they are..... But they won't be for long.
As rents have soared to new highs, so eventually will house prices follow.
As the largest generation of FTB age people in history crashes into the lowest house building figures for a century, you'll soon enough find out what a proper boom looks like.
And it'll make the last one look like a molehill by comparison.
If we can just park the obvious greed and selfishness to one side for a moment, is there actually any other reason why you wish to damn young people for evermore to pay the price for the fortune and destuctive recklessness of earlier generations?
Is there a reason you want to condemn young people into a lifetime of renting? A lifetime of paying their landlords mortgage instead of their own? Of enriching someone else instead of themselves?
And while we're on this topic, what about the obvious greed and selfishness of trying to sucker young people into not buying? What about the endless facebook "buyers strike", newspaper comments section trolling, online poll rigging, etc etc etc.... All in a vain attempt to spook sentiment and crash the market.
And for what?
Prices up 10% since 2009, rents up 11% since 2009. But how many people have missed out on their chance at a house, a mortgage, and a stable future because of this propaganda as banks continue to tighten the screws through rate and deposit apartheid..... Hundreds, certainly. Thousands, possibly.
That's the real tragedy here.
The callous disregard for the future of Generation Rent, from a band of desperate and selfish crashaholics, leading them on and giving them false hope that prices will plummet, when the very opposite is about to happen.
Lobbying for, and cheering on, the very mortgage restrictions that have locked more of them out of homebuying than high prices ever did.
Failing to learn the lessons of the housing bears on here or elsewhere who have been out of the market since 2006, 2005, 2004, 2003, 2002 or even earlier, waiting forlornly for the great crash which never came.
Costing themselves tens or hundreds of thousands of pounds in increased lifetime housing costs.
And then bitterly giving up and buying anyway.
Still failing to see just how badly they got the market fundamentals wrong.
Trying to blame their mistakes on others, like a bad episode of Scooby Doo.....
"We'd have gotten away with it if it wasn't for those pesky 0.5% rates"
Only to then see a new batch of crashaholics conning young people into the same terrible mistake. Over and over again.
It's absolutely horrific.
No wonder we're emotive about the issue....:(
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
0
Comments
-
Calm down dear.......
No use getting emotive about these things.
There are a number of reasons for views like this one. They include:
1. Sheer stupidity and inability to understand money.
2. They got their fingers burnt buying a property and got repossessed.
3. They want to buy. But know they'll never be able to afford it again, and want everyone else to suffer the same way.
These people aren't worth arguing with, and certainly won't listen to reason.
[ps Your mate Shapps is on BBC news while I write. Trying to play down the selling of school playgrounds. Sell the bl00dy lot and build houses was presumably his game. Now he can't, our prices are secure for a little bit longer!]0 -
HAMISH_MCTAVISH wrote: »This post today by "echolocation" sums it up for me.
Indeed.
And there are plenty of them.
Which is why prices are increasing, and are not likely to fall.
Emotive nonsense, I'm afraid.
They're not being "deliberately and manipulatively screwed into completely unnecessary life-altering debt" at all.
Nobody is forcing them to buy a house. But as buying a house is cheaper than renting, they'd be barking mad not to.
Furthermore the debt is precisely what is necessary to buy a house. Not a penny more or less. If you want to buy, you must pay the going price, and borrow the required amount.
And as we have had a sustained shortage of housing for the best part of a decade, a shortage that is worsening rapidly thanks to the fallout from the "crash", then it's frankly a miracle houses are as cheap today as they are..... But they won't be for long.
As rents have soared to new highs, so eventually will house prices follow.
As the largest generation of FTB age people in history crashes into the lowest house building figures for a century, you'll soon enough find out what a proper boom looks like.
And it'll make the last one look like a molehill by comparison.
Is there a reason you want to condemn young people into a lifetime of renting? A lifetime of paying their landlords mortgage instead of their own? Of enriching someone else instead of themselves?
And while we're on this topic, what about the obvious greed and selfishness of trying to sucker young people into not buying? What about the endless facebook "buyers strike", newspaper comments section trolling, online poll rigging, etc etc etc.... All in a vain attempt to spook sentiment and crash the market.
And for what?
Prices up 10% since 2009, rents up 11% since 2009. But how many people have missed out on their chance at a house, a mortgage, and a stable future because of this propaganda as banks continue to tighten the screws through rate and deposit apartheid..... Hundreds, certainly. Thousands, possibly.
That's the real tragedy here.
The callous disregard for the future of Generation Rent, from a band of desperate and selfish crashaholics, leading them on and giving them false hope that prices will plummet, when the very opposite is about to happen.
Lobbying for, and cheering on, the very mortgage restrictions that have locked more of them out of homebuying than high prices ever did.
Failing to learn the lessons of the housing bears on here or elsewhere who have been out of the market since 2006, 2005, 2004, 2003, 2002 or even earlier, waiting forlornly for the great crash which never came.
Costing themselves tens or hundreds of thousands of pounds in increased lifetime housing costs.
And then bitterly giving up and buying anyway.
Still failing to see just how badly they got the market fundamentals wrong.
Trying to blame their mistakes on others, like a bad episode of Scooby Doo.....
"We'd have gotten away with it if it wasn't for those pesky 0.5% rates"
Only to then see a new batch of crashaholics conning young people into the same terrible mistake. Over and over again.
It's absolutely horrific.
No wonder we're emotive about the issue....:(
You seem to be saying that it is partly the fault of renters that house prices are rising.0 -
Cracking thread/post, m8. I got about 40% of the way through, rather more than most readers will, I dare say.FACT.0
-
I think you're reading too much into it.
- Those who can afford to buy, do.
- Those who can't afford to buy, don't.
It's human nature to try to defend one's choices in life, which is why we see posts from renters on here claiming to be sitting on huge deposits, as if that goes some way to add credibility to their bearish stance on property prices."Beware of little expenses. A small leak will sink a great ship." - Benjamin Franklin0 -
I think you're reading too much into it.
- Those who can afford to buy, do.
- Those who can't afford to buy, don't.
It's human nature to try to defend one's choices in life, which is why we see posts from renters on here claiming to be sitting on huge deposits, as if that goes some way to add credibility to their bearish stance on property prices.
Generally agreed!
I haven't noticed any pensioners - who still rent - defending their "choice". These are people who have 'had' their economically active life, and a proportion of them could have bought [I assume].
This is presumably because they know that buying is better. They doubtless have work mates [same wages] who did and who are now sitting on a pile of rent-free asset.
Their argument would centre around 'couldn't afford', or 'would have hated a mortgage'..... rather than "buying is an uneconomic thing to do compared to renting".
I would love my next car to be a Maybach. I can't afford one. But I don't/wouldn't pretend I could, but gripe about the colour range, insist it's over-priced, or generally slag it off.0 -
Why not just reply to the post on the same thread?!
I may have missed a trick though. Maybe I should have started a new thread to say that?0 -
whenever i go on a property slump related article on the guardian or telegraph website all the comments say 'great, keep the reductions coming' 'landlords ruin the country' 'BTL is ruining the country'.
lol.0 -
There's got to be a rent price bubble going on at the moment. It's the only debt-based one alive (as in people paying lots of money for a place to rent) but unlike the old house price bubble it's more relisent; you gotta have a place to live, and if you can't buy, rent is the only option. Maybe a cardboard box bubble is the next phase?0
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KrytenIceCubeHead wrote: »There's got to be a rent price bubble going on at the moment.
Just good old fashioned supply and demand in action.“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 -
HAMISH_MCTAVISH wrote: »Just good old fashioned supply and demand in action.
But as we move futher into full globalisation and need to compete with folks in other countries where wages and properties are much, much lower than ours, we will then be scr*wed.
America with their cheaper housing is already in a much better position than us.
And it's not simple supply and demand either. The government and banks are deliberately trying to keep the bubble alive. But it's certainly not to our economic benefit in the long term!0
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