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Debate House Prices
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Funding for Lending failing miserably...
Comments
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HAMISH_MCTAVISH wrote: »Not when banks are profiteering by raising mortgage rates and SVR-s to subvert the intent of the BOE for low rates.
Remember all the articles posted here when the banks started putting up SVR rates, claiming that this would be the nail in the coffin for house prices?
I do....;)
I remember those articles, and didn't know if I should believe them or not.
What I do believe is that you are a HPI junkie. You can't think beyond your own greed. You seem to claim that increased lending/ higher HPI is the route to a strong economy. I say that a strong economy should lead to HPI, and should rely A LITTLE on increased lending.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
I remember those articles, and didn't know if I should believe them or not.
What I do believe is that you are a HPI junkie. You can't think beyond your own greed. You seem to claim that increased lending/ higher HPI is the route to a strong economy. I say that a strong economy should lead to HPI, and should rely A LITTLE on increased lending.
I'm greedy, you're greedy, everyone is greedy. It's human nature and anyone that tells you they aren't is a greedy liar.
Do you think for one minute that there won't be a mass exodus of people from the HPC forum moving over to this forum to rant and rave about how prices are sure to go up as soon as they buy a house?
Likewise, if those people decide to sell to rent a few years down the line, are they not going to go straight back to HPC to, once again, take up their endless debate about the impending crash?0 -
marathonic wrote: »I'm greedy, you're greedy, everyone is greedy. It's human nature and anyone that tells you they aren't is a greedy liar.
Do you think for one minute that there won't be a mass exodus of people from the HPC forum moving over to this forum to rant and rave about how prices are sure to go up as soon as they buy a house?
Likewise, if those people decide to sell to rent a few years down the line, are they not going to go straight back to HPC to, once again, take up their endless debate about the impending crash?
Yes, we are all greedy to some extent.
However, some of us realise that we have enough, and are happy to settle for that.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
marathonic wrote: »Do you think for one minute that there won't be a mass exodus of people from the HPC forum moving over to this forum to rant and rave about how prices are sure to go up as soon as they buy a house?
There may well be.
As soon as I bought my house, I simply wanted to pay off the mortgage ASAP. My house is now priceless, it's bl***y cold outside.
If I wanted my house to make me a profit, I'd simply be denying the next generation the opportunity that I had. That was to buy a house for a reasonable amount of money that I could afford. Why should I expect profit from buying a basic necessity ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Yes, we are all greedy to some extent.
However, some of us realise that we have enough, and are happy to settle for that.
I'm not so sure....
An example would be that the people that are intelligent enough to realise that they have enough are also intelligent enough to know how long life expectancy is going to be when they retire and how much money it's going to take to tide them over considering their desires to help out grandchildren and the potential that they will have nursing home fees during their final years.
For all but the top earners, achieving the required retirement fund is all but a dream!
This alone is a driving factor in a lot of peoples desire to amass wealth !!!!0 -
marathonic wrote: »I'm not so sure....
An example would be that the people that are intelligent enough to realise that they have enough are also intelligent enough to know how long life expectancy is going to be when they retire and how much money it's going to take to tide them over considering their desires to help out grandchildren and the potential that they will have nursing home fees during their final years.
For all but the top earners, achieving the required retirement fund is all but a dream!
This alone is a driving factor in a lot of peoples desire to amass wealth !!!!
I did not expect or want my grandparents to help me out financially. What's wrong with expecting or wanting the next generation to be able to stand on their own two feet ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
I did not expect or want my grandparents to help me out financially. What's wrong with expecting or wanting the next generation to be able to stand on their own two feet ?
Well, that was just an example but we will all have needs and wants in retirement and the needs alone will require a significant pension pot or investments upon retirement.
At 30 years old, I don't expect to receive a state pension until at least 70 - and that's if it even exists at that point.
Even without helping out grandchildren as such, most people would probably like to be able to retire at 55-60 to spend more time with them - opening up the possibility of reduced childcare costs for your own children.
Again, this might not be for everyone but, at the end of the day, if you want to retire at 55 on an income of 20k a year, you'd probably want to be having in excess of half a million in investments.
Otherwise, it's a case of roll the dice and hope for the best....0 -
marathonic wrote: »Again, this might not be for everyone but, at the end of the day, if you want to retire at 55 on an income of 20k a year, you'd probably want to be having in excess of half a million in investments.
And if that means scr****g the next generation through house prices, then so be it ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
And if that means scr****g the next generation through house prices, then so be it ?
It's every man for themselves. I'm paying a high price for housing because of the generation before me. Future generations are unlikely to pay higher than I'm paying today due to tightening bank criteria - unless they go back to the good old days
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marathonic wrote: »It's every man for themselves. I'm paying a high price for housing because of the generation before me. Future generations are unlikely to pay higher than I'm paying today due to tightening bank criteria - unless they go back to the good old days
Well, I would have had to pay a very high price, or may have been priced out forever due to the "every man for themselves" attitude of the late 80s/early 90s. Fortunately for me prices fell as the bubble burst. Once I bought my house, I had no desire for it to increase in value.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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