House Prices Up....

pop_gun

ukcarper wrote: »

That has nothing to do with my post and house price releases are not rigged. This is the problem I with people like you and popgun if figures don't suite you agenda they must be rigged. There are obviously borrowers in difficulties both BTL and home owners but they are not the norm by a long way.

When the figures don't match reality is when I have a problem with the figures. When sellers have to wait a year or 18 months to sell their property with no chain involved, then there's a problem. The supply (to varying degree ) and the demand is there but the two can't meet due to the price.

ukcarper

pop_gun wrote: »

When the figures don't match reality is when I have a problem with the figures. When sellers have to wait a year or 18 months to sell their property with no chain involved, then there's a problem. The supply (to varying degree ) and the demand is there but the two can't meet due to the price.

You really have no idea do you, you can't show any figures to show that most mortgages holders are in trouble because they are not. Where on earth did you get that idea.

Most properties where I am sell quickly there are properties they aren't selling but they are obviously overpriced or have other problems.

mwpt

pop_gun wrote: »

You present a highly idealised scenario. No job insecurity, no redundancies, no zero hour contracts, no outsourcing, no pitter-patter of tiny feet, no wage increases, no separation of the couple (divorce), no council tax, water rates, gas and electric, work travel expenses or monthly shop.
No interest rate rises. Although I must admit I doubt they ever will.

The house is unaffordable in this economic climate. Someone will buy the place with 10% deposit and pray like crazy it doubles in value over the next 5 to 10 years. When their work situation deteriorates they'll change to an interest only mortgage.
Meaning little equity in the house and the inability to repay the capital.

No, sorry, you're just trying really hard to invent reasons to justify your already formed view that there is no way average people can buy. Those things have always been problems. I do admit that I believe it is far harder to buy a decent place in London today than over the last 20-30 years, but hey, people in that period were lucky, they just didn't realise it at the time (some still don't). But what can we do about that? We can't reverse time, we are where we are, so you've got to try make the most of it.

Soon we'll have 50 to a 100 year inter-generation mortgages like they do in Japan. Anything to keep the property ponzi scheme going.

Yes, I too believe the government will do almost whatever it takes to keep the property ponzi scheme going. And since I can't beat the house, I had to play the game according to their rules, and I bought a house in 2014 after years of waiting for a correction. What are you going to do now that you admit the game is rigged?

p1212

cells wrote: »

The truth is actually much better than you think. The UK stock of wealth is around £8.8 trillion net

Most of this in property prices.

Now if we exploit the young even more, with 100 year mortgages and 20 max mortgage/wages ratio, prices will go even more up and we can write a bigger number there.

Ok, as a side effect, it is going to be way more difficult for the next generation just to exist as they will need to repay these huge mortgages, not you. But hey, do we care? After all it is not us who will struggle...

So just to maintain the wealth of the current generation, you wreck the future of the next generation. Yes, just give them 100 year long mortgages and higher wage multipliers for mortgages and let them suffer, the main thing is that in the meantime your wealth will go up a bit more without doing anything.

Or why bother with mortgages, just bring back slavery and make all young people your salves, working for your wealth.

westernpromise

pop_gun wrote: »

Most mortgage holders are in trouble. .

:rotfl::rotfl::rotfl::T:T:rotfl:

ukcarper

p1212 wrote: »

Most of this in property prices.

Now if we exploit the young even more, with 100 year mortgages and 20 max mortgage/wages ratio, prices will go even more up and we can write a bigger number there.

Ok, as a side effect, it is going to be way more difficult for the next generation just to exist as they will need to repay these huge mortgages, not you. But hey, do we care? After all it is not us who will struggle...

So just to maintain the wealth of the current generation, you wreck the future of the next generation. Yes, just give them 100 year long mortgages and higher wage multipliers for mortgages and let them suffer, the main thing is that in the meantime your wealth will go up a bit more without doing anything.

Or why bother with mortgages, just bring back slavery and make all young people your salves, working for your wealth.

But that is not happening and unlikely to happen and has been pointed out the problem is concentrated in London and a few other areas.

p1212

ukcarper wrote: »

But that is not happening and unlikely to happen and has been pointed out the problem is concentrated in London and a few other areas.

It has already happened.

First generation with huge student debts just came out from the uni - tens of thousands of debt - and they are now instantly facing obscene rents and unprecedented house price/wage ratios in the cities.

It won't happen sometimes later in the future, we are already there.

pop_gun

ukcarper wrote: »

You really have no idea do you, you can't show any figures to show that most mortgages holders are in trouble because they are not. Where on earth did you get that idea.

Most properties where I am sell quickly there are properties they aren't selling but they are obviously overpriced or have other problems.

The official figures won't back up what I'm saying purely because house prices and therefore equity are so arbitrary. I personally know of a mortgage holder who brought a property 10 years ago. The property is the near the south east coast (outside london).
He had already remortgaged the property and was wondering how much it had risen in value.
The first surveyor told him it was worth more or less what he paid for it. He didn't like that valuation so he goes to a different surveyor who tells him his property is worth 80k more when he purchased it.
This is music to his ears. He puts the property up for sale.
But alas no takers after 2 years of trying to sell it.
According to one surveyor he doesn't have any equity, but the other has him sitting on £80k worth.
Though he can't realise the latter valuation.

The official figures will be skewd in favour of these erroneous valuations.

ukcarper

p1212 wrote: »

It has already happened.

First generation with huge student debts just came out from the uni - tens of thousands of debt - and they are now instantly facing obscene rents and unprecedented house price/wage ratios in the cities.

It won't happen sometimes later in the future, we are already there.

100 year mortgages and 20x earnings haven't and won't happen. Student debt is written off and not all cities have high price to wage ratios.

ukcarper

pop_gun wrote: »

The official figures won't back up what I'm saying purely because house prices and therefore equity are so arbitrary. I personally know of a mortgage who brought a property 10 years ago. The property is the near the south east coast (outside london).
He had already remortgaged the property and was wondering how much it had risen in value.
The first surveyor told him it was worth more or less what he paid for it. He didn't like that valuation so he goes to a different surveyor who tells him his property is worth 80k more when he purchased it.
This is music to his ears. He puts the property up for sale.
But alas no takers after 2 years of trying to sell it.
According to one surveyor he doesn't have any equity, but the other has him sitting on £80k worth.
Though he can't realise the latter valuation.

The official figures will be skewd in favour of these erroneous valuations.

So you know one person not much evidence. I know a lot more than one who are not in trouble.

What figures are skewed by that valuation .