Does being a home owner change you mentally?

chucknorris

Clifford_Pope wrote: »

You wouldn't have to, I'd come to you to complete my side of the bargain.

That might be harder to do than you think.

Southend1

Couldn't care less if the monetary value of my house goes up or down, it makes no difference to me. It cost what it cost the day I bought it and the amount owing on the mortgage won't change because the house value does. Ok so theoretically if the price dropped by say 30% it could affect the rate available at remortgage time due to the change in LTV but this wouldn't be a major problem. People who like the idea of prices going up so they can borrow more against the house to fritter away have been conned - they will have to pay it back someday!

Voyager2002

Percy1983 wrote: »

My opinion hasn't changed since I bought, house price rises wouldn't benefit me, my potential children or my friends and relatives who are trying to buy.

I just don't see how its ever profit, ie if I round my purchase up to £100k and the house I really wanted was £150k (so £50k difference), then if prices double yay my house is now worth £200k I can afford that £150k house I wanted... oh wait thats now £300k so I now have to find find £100k to move up the ladder (this is for example I have no desire to buy another house).

The same applies if I have 2 children, if they inherit half a house each te more prices rise the more money they get, but the bigger the gap they have to fill for the other half.

Agreed.

And remember that as house prices rise, greater amounts of money have to be paid in taxes and professional fees whenever you sell or buy. So rising house prices benefit the government, and those few people who are selling in order to leave the country, and just about nobody else.

bugslet

Thrugelmir wrote: »

Don't care what my house is worth day to day. No intention of moving. Probably retire here and die here........

Ditto

chewmylegoff wrote: »

You are going to die in Croydon Ikea. £500,000 please.

Though people will think you are part of a display and you won't be 'found' until you get a bit whiffy.

chucky

Percy1983 wrote: »

My opinion hasn't changed since I bought, house price rises wouldn't benefit me, my potential children or my friends and relatives who are trying to buy.

I just don't see how its ever profit, ie if I round my purchase up to £100k and the house I really wanted was £150k (so £50k difference), then if prices double yay my house is now worth £200k I can afford that £150k house I wanted... oh wait thats now £300k so I now have to find find £100k to move up the ladder (this is for example I have no desire to buy another house).

The same applies if I have 2 children, if they inherit half a house each te more prices rise the more money they get, but the bigger the gap they have to fill for the other half.

You obviously don't understand how a market works.

House prices go up and down. Did you not realise that?

mystic_trev

Thrugelmir wrote: »

My immediate family has a consistent history of dying in their sleep as a result of a heart attack. At a ripe old age I should add.

That reminds me of this.

When I die,I'd like to go peacefully in my sleep, like my grandfather. Not screaming and yelling like the passengers in his car.

wotsthat

Percy1983 wrote: »

The same applies if I have 2 children, if they inherit half a house each te more prices rise the more money they get, but the bigger the gap they have to fill for the other half.

This argument comes up a lot i.e. 'Poor me I've inherited a house but I've got to share it with my siblings and I would've been better off if I'd got nothing but prices hadn't risen'. Maybe the answer is to only have one child to nurture this strange selfish and somewhat entitled attitude.

I know plenty of people that have inherited houses. They get sold and the heirs are generally happy - I think it's because they compare themselves against people who aren't getting inheritances. Comparing yourself against a doppelgänger living in a world of different circumstances seems to way for spoilt people to feel hard done to.

chucknorris

chewmylegoff wrote: »

You are going to die in Croydon Ikea. £500,000 please.

Looks like I'll live forever then as I wouldn't be seen dead in Croydon's Ikea.

LydiaJ

wotsthat wrote: »

This argument comes up a lot i.e. 'Poor me I've inherited a house but I've got to share it with my siblings and I would've been better off if I'd got nothing but prices hadn't risen'. Maybe the answer is to only have one child to nurture this strange selfish and somewhat entitled attitude.

I know plenty of people that have inherited houses. They get sold and the heirs are generally happy - I think it's because they compare themselves against people who aren't getting inheritances. Comparing yourself against a doppelgänger living in a world of different circumstances seems to way for spoilt people to feel hard done to.

Percy isn't saying "poor me" though. He's saying that if his hypothetical children inherit half a house each, he still doesn't find that enough of a reason to make him want house prices to rise. He wants the generation coming after him not to have too hard a time getting homes for themselves. I don't find that selfish or entitled.

C_Mababejive

The housing market in the UK is being used as a vehicle to create a feelgood feeling, to create some kind of manufactured boost to the economy and to create wealth for the few who manage investment portfolios and fleece the proliferate for ever increasing rents.

In is mostly froth and inflationary. It prevents thousands of younger people from ever "owning" a home and instead siphons off their meagre income to line the pockets of landlords.

Taxpayers money is being diverted into funding affordable housing ponsi schemes again to try and stick a patch on the system.

Truth is the UK economy has very little fuel in its tank. Its manufacturing base is poor in comparison to great countries like Germany and its financial sector is riven with debt and corruption but its all we have so we have to keep kow towing to the City because if we dont, they will up sticks and move to hong Kong and then there will be nothing left save for a patch of land upon which Rich Russians and similar prey,buying up properties and leaving the indigenous poorer population in penury.