Wean off from HTB and still build promised amount of new affordable homes

RealElement47

bhughes1986 wrote: »

Used HTB twice. Sold our first house with a profit, paid 20% of the sale price back to HTB. Personally, I can't see the problem. Second home, we used it again as in the regions of the UK we moved to (SW), we didn't like any of the houses/areas we saw that were 'non HTB' i.e. non new builds. Currently overpaying so that at the 5 year point, sell or keep, we will be able to pay off HTB and take a big chunk with us for somewhere else.

Taking a holistic view, I think that the entire property market is screwed. The only way we will get ourselves (as a country) out of this mess is if wages increase to make larger mortgages more affordable. Alternatively, house prices may stagnate long term, allowing wages to catch up.

Yep property market is screwed, either stagnant until wages catch up or a large correction come no deal brexit

triathlon

RealElement47 wrote: »

Yep property market is screwed, either stagnant until wages catch up or a large correction come no deal brexit

Hands up all the homeowners who had a BBQ in their own homes this weekend and most definitely will be having one in the week, great isn't it?

Wonder how the housepricecrash cult manage in bedsit and HMO world:(

Malthusian

bhughes1986 wrote: »

Taking a holistic view, I think that the entire property market is screwed. The only way we will get ourselves (as a country) out of this mess is if wages increase to make larger mortgages more affordable.

There is nothing screwed about it. Prices increase until everyone who still wants a house has got one. The alternative to this is to set house prices artificially low and ration them, and anyone who is happy to join a queue and wait years for a cheaper house can already do that via council housing.

If wages increase then house prices will increase.

Alternatively, house prices may stagnate long term, allowing wages to catch up.

If house prices stagnate long term then much fewer people will buy, as fewer people will be able to afford sinking vast amounts of money into an asset that will lose money in real terms. Mortgages will be significantly more expensive as a house will not be nearly as good as security.

triathlon

Malthusian wrote: »

There is nothing screwed about it. Prices increase until everyone who still wants a house has got one. The alternative to this is to set house prices artificially low and ration them, and anyone who is happy to join a queue and wait years for a cheaper house can already do that via council housing.

If wages increase then house prices will increase.

If house prices stagnate long term then much fewer people will buy, as fewer people will be able to afford sinking vast amounts of money into an asset that will lose money in real terms. Mortgages will be significantly more expensive as a house will not be nearly as good as security.

Yes

The UK economy is the 5th largest in the world, we have relative to our size one of the highest proportions of Millionaires and Billionaires. Low unemployment, low interest rates, high mortality, free health care, best food, cars, travel around the world and more free time than we know what to do with.

Yet there are a small group of bitter twisted angry people who would destroy all of that, for what?

AG47

There is so much in work poverty now due to the discrepancy between wages and housing costs.

There can never be an end to help to bubble or other schemes until property comes down to meet wages or wages go up to meet property.

Either way there needs to be a correction or continue to inflate the bubble with housing benefits and schemes to help normal people who can’t afford overvalued property to somehow be able to afford it at inflated levels.