How did it become acceptable for someone to commit to 25yr marriage to mortgages

Crashy_Time

Thrugelmir wrote: »

You forgot to mention food, clothing, healthcare, transport, pensions, heat, a job, education, x factor celebrity status, an iphone, sky .................

If only you could borrow to buy being part of a generation that meant something, the kids would be alright........:rotfl:

GreatApe

There is something to the idea of sourouding yourself with successful people and cutting out the negative people. The Human mind for all its brilliance has many faults and weaknesses one of which is a strong confirmation bias and the tendency to copy those around it.

Crashy spends all his time on a website that has been saying for 15 years that property prices are about to crash and doom generally is around the corner so that's how he thinks. Worse is that when he comes here and see and hears views that say, you know what things aren't all that bad the world the country is on average imoroving and there is opportunity and fortunes to be made, crashy feels this is the morninic silly conspiracy idea rather than his groups views.

It gets ugly when his pals have been so invested in a crash and doom and gloom that they kbiw want and wish for it so badly that they want a recession and lots of bankrupts and lots of people jumping off buildings in a depression so their 15 years of failure is finally vindicated.

Sorry crashy but those who are positive and will go out and create make and prosper will always outnumber you and your pals and thank Thor that is the case.

Jack_Johnson_the_acorn

ChrisJones1 wrote: »

It seems absolutely ridiculous that you have to commit to 25yrs of payments to buy something every human should be entitled to, shelter from the natural forces to survive.

Sure I get that it depends on what you buy but having to pay £700-1000 a month for 25 years or something seems mind-boggling. How did it get so expensive?

How did this become so accessible by people who continuously vote in governments who are meant to do the planning and welfare of society and it's citizens.

How much would it cost to buy the land and build a property on that land. Because I imagine the circa1900 property I own would cost close to today's purchase price.

No-one is forced to remain in any property for the lifetime of the mortgage. If one is unhappy or would like to end the mortgage they can simply sell the property.

I will likely be mortgage free after 15yrs of paying a mortgage. Took the mortgage out over 30yrs as a safety net. It's been cheaper to pay a mortgage than the equivalent rent by about £200pcm. Not that I could find a property as nice as my own for rent.

Enterprise_1701C

I believe you get free housing if you live in North Korea.

Of course, that involves living in the worst country in the world.

Personally I would rather live in a country where you can choose to live where you want and you can choose your work.

If you choose to rent in this country rather than buying, you put the money in the pocket of those that buy, and a lot of the time those people tend not to maintain the buildings as well as they should.

At least if you buy you get to choose what you can do with that home within certain limitations.

padington

Enterprise_1701C wrote: »

If you choose to rent in this country rather than buying, you put the money in the pocket of those that buy, and a lot of the time those people tend not to maintain the buildings as well as they should.

In 1945 everyone used to say exactly the opposite because of rent controls and the cost of fixing up the houses. We are in the golden years of property ownership, things could change fast with a change of law and a few bombs.

Let's see what the housing white paper says at the end of the
month, I wouldn't be at all surprised if May introduced Germanic rent controls. All this the 'governments must intervene' business is pointing in that direction ....

Also once we align with trump we ratchet up our risk levels from terror attacks, I would imagine, if he really is going to be so pro Israili.

steampowered

padington wrote: »

We are in the golden years of property ownership, things could change fast with a change of law and a few bombs.

This statement is factually wrong.

In fact, home ownership is at its lowest level for 30 years. The proportion of people who own their own home has fallen across every part of the UK since their peak in the early 2000s. Source.

System

If all housing was nationalised without compensation, and allocated by local workers committees to anyone on the basis of need, it would be fine for about a year.
But who would pay for maintaining it? Who would ever bother fixing things or taking care of the properties?
After 10 years when everything was derelict, what would you do about it? Post on an internet forum to complain?

Herzlos

Graham_Devon wrote: »

6 months, usually. Just a little factoid which upsets your whole post somewhat.

But then where do you live after 6 months? Another rental?

I get the point you're trying to be smart about, but the point was that you're going to have to live *somewhere*, so either you rent forever at huge cost, or you buy and spread the cost out over 20-40 years. Eventually you pay it off and then you can live rent free, and there's nothing forcing you to stay in that property until it's paid off. Sure, it's a lot more time consuming and expensive to move from bought->bought, than rental->rental, but it's possible.

I went for a 40 year mortgage, because it made it affordable and meant it'd be paid off in time to retire. I fully plan(ned) to pay it off earlier and upgrade, but I've been taking advantage of low payments for a bit longer (and it's pretty much always been cheaper than renting, but with more control over what I do with the place).

westernpromise

steampowered wrote: »

This statement is factually wrong.

In fact, home ownership is at its lowest level for 30 years. The proportion of people who own their own home has fallen across every part of the UK since their peak in the early 2000s. Source.

But it's back to what it was before Thatcher started selling people their council houses. The left opposed that so presumably are happy to see home ownership in decline?

Conrad

For years the left argued we should be more like Europeans and happy to rent. 'Lets end our obsession with home ownership' was a common lefty narrative.