David Cameron: Generation Rent will become Generation Buy

Mistermeaner

CLAPTON wrote: »

amazing that education, world travel, bring up a family, good job, helping family and friends, dealing with tragedies and illness, makes people narrow minded.

All old people who object to planning have also done all those things too have they? That's a very small part of a complex Venn diagram.

For clarity I didn't say all old people object to planning - I said those who object are generally the older generation.

There's lots of old people who don't object.

cells

daveyjp wrote: »

So the end value of a property has no effect on whether it gets built? Developers and funders would disagree, they don't generally build to lose money.

some of the cheapest areas of England have healthy build rates showing that there is good demand almost anywhere in England

ukcarper

Mistermeaner wrote: »

That doesn't make sense

It makes complete sense to me, the majority of older people do not live in the areas where nimbyism is rife and are no more concerned about areas where it iis than younger people. The problem is the privileged people who live in those areas be they young or old.

cells

mwpt wrote: »

At 6% there are plenty of properties in London where it would make no financial sense to buy at current prices. I believe we (I mean myself and someone else) discussed this on another thread.

its buy or rent if 6% base is going to make renting more viable than buying then either rents will go up or prices down or a combination of both

my view is that at most base rates will increase in such a way that we get no nominal falls. so maybe if it ever gets to 5% it will be over a period of 8-10 years more likely it will go towards 2.5% over five years imo

Marktheshark

Following a familiar patter again.
It is like a blue print.
Encourage everyone to mortgage up on family homes, slash in work benefits.
Then raise interest rates after a flat period above 10% which they have a history of doing and their fat cigar smoking banker mates get to fill their boots playing repossession on struggling families homes.

It's the same old record again, lets watch everyone dance to it again.

Mistermeaner

That's a very niche approach to making fat bankers rich. I would say there's more to be made in other industries than repossession, all of which benefit from lower rather than higher interest rates.

CLAPTON

Marktheshark wrote: »

Following a familiar patter again.
It is like a blue print.
Encourage everyone to mortgage up on family homes, slash in work benefits.
Then raise interest rates after a flat period above 10% which they have a history of doing and their fat cigar smoking banker mates get to fill their boots playing repossession on struggling families homes.

It's the same old record again, lets watch everyone dance to it again.

how often has this pattern been repeated in the past?
how often have interest rates been raised above 10%?

and when do you expect this 'pattern' to repeat itself?

best you keep on renting

Thrugelmir

Marktheshark wrote: »

Following a familiar patter again.
It is like a blue print.
Encourage everyone to mortgage up on family homes, slash in work benefits.
Then raise interest rates after a flat period above 10% which they have a history of doing and their fat cigar smoking banker mates get to fill their boots playing repossession on struggling families homes.

It's the same old record again, lets watch everyone dance to it again.

Doesn't sound like the UK to me.

Perhaps you needle is stuck in a political groove that's still playing 78's.

stator

Thrugelmir wrote: »

If they cannot buy them then they'll up renting the same properties. So at least a step in the right direction.

Maybe a matchbox but like a lot of us. Many started with what we could afford then progressively moved up the ladder.

Starter homes are a con.
Young people are taking out 30 year mortgages at the maximum LTV at the maximum income multiple just to get on the so-called 'housing ladder'.
For most young people they will still be paying off their 'first step' by the time they are 60.

Thrugelmir

stator wrote: »

Starter homes are a con.
Young people are taking out 30 year mortgages at the maximum LTV at the maximum income multiple just to get on the so-called 'housing ladder'.

Are they? CML data suggests otherwise. There's plenty of financially sensible people around.

MMR has improved the quality of mortgage lending as well. Times have changed to 10 years ago.