If we vote for Brexit what happens

System

Global banks over exposure to derivatives will definitely cause house prices to fall.

buglawton

Crashy_Time wrote: »

Except in a world where 1/3 rent, 1/3 have paid off their mortgage and 1/3 have some kind of outstanding mortgage but would not all necessarily bail on the loan if NE strikes, and banks are backstopped by the government printing press, the banks have no need to "pull in their horns", in fact the ONLY way they are going to make profits is if there is a crash. More smaller loans at sensible multiples to wages is the way forward for the banks, and just think of the sugar rush to the retail/DIY economy as all the youngsters jumped out of their childhood bedroom and into a cheap flat in need of some paint. That would be any chancellor/bankers dream in this climate.

You'd better work out who's going to exit that 'cheap flat' to make way for the 'youngsters' before you can put your social engineering plan into action.

Did you note the bit I said about how HPCers never seem to propose supply-side solutions? Oh dear fell right in it there.

System

Banking Regulations + Financial Crisis (derivatives ???) = Sovereign Debt Crisis (The only way for banks to protect themselves is for them to purchase default protection on the sovereign or short government bonds).

The above is my simple explanation of what lies ahead. Deutsche Bank is leading the way......

Crashy_Time

buglawton wrote: »

You'd better work out who's going to exit that 'cheap flat' to make way for the 'youngsters' before you can put your social engineering plan into action.

Did you note the bit I said about how HPCers never seem to propose supply-side solutions? Oh dear fell right in it there.

Lets just watch what happens.

buglawton

ukcarper wrote: »

Lower income families have never been able to buy. There have been much tighter controls on mortgage lending since the crash so people can no longer take massive amounts of debt.

Wrong actually, unless you mean 'never, after the Crash '.
I know of 2 genuinely low income people who got mortgages and became owner occupiers in the 80s. Neither held onto their property, for one it was simply that as you get older a steep stairs doesn't make sense. For the other it was inability to do the hardnosed management of ones finances.

Bottom line is, neither would have the slightest chance of a mortgage post 2008.

System

buglawton wrote: »

Wrong actually, unless you mean 'never, after the Crash '.
I know of 2 genuinely low income people who got mortgages and became owner occupiers in the 80s. Neither held onto their property, for one it was simply that as you get older a steep stairs doesn't make sense. For the other it was inability to do the hardnosed management of ones finances.

Bottom line is, neither would have the slightest chance of a mortgage post 2008.

Banks have started to go back to risky lending in all markets in order to increase capital. Low base rates are not helping the banks at all.

Crashy_Time

buglawton wrote: »

Wrong actually, unless you mean 'never, after the Crash '.
I know of 2 genuinely low income people who got mortgages and became owner occupiers in the 80s. Neither held onto their property, for one it was simply that as you get older a steep stairs doesn't make sense. For the other it was inability to do the hardnosed management of ones finances.

Bottom line is, neither would have the slightest chance of a mortgage post 2008.

So you didn`t know any in the Noughties then? :rotfl:
That is when they built the bubble, try to keep up!

ukcarper

buglawton wrote: »

Wrong actually, unless you mean 'never, after the Crash '.
I know of 2 genuinely low income people who got mortgages and became owner occupiers in the 80s. Neither held onto their property, for one it was simply that as you get older a steep stairs doesn't make sense. For the other it was inability to do the hardnosed management of ones finances.

Bottom line is, neither would have the slightest chance of a mortgage post 2008.

I suppose I was thinking about the South East there are still parts of the country where people on low incomes could buy.

buglawton

ukcarper wrote: »

I suppose I was thinking about the South East there are still parts of the country where people on low incomes could buy.

My examples are South East (London commuter belt) and South coast.

buglawton

Crashy_Time wrote: »

So you didn`t know any in the Noughties then? :rotfl:
That is when they built the bubble, try to keep up!

You believe the bubble was only built in the noughties?
Born too late maybe?