Boris pledge to offer 30% discount to local first time buyers?

MobileSaver

Crashy_Time wrote: »

Prices are high because people were allowed to borrow too much, not because they "bettered" themselves in any way,

Utter nonsense.

Cheap credit is a factor but if your proposition were true then only starter homes would sell. How do huge numbers of people buy bigger, better houses month after month without increasing their income?

Crashy_Time wrote: »

in fact being 100`s of thousands in debt on a faltering illiquid asset is probably the opposite of "bettering" IMO.

Everyone has to live somewhere. We all know that you prefer to keep paying off your landlord's mortgage instead of your own but most sensible people who can afford to buy realise that your house buying strategy is foolish and fundamentally flawed.

One problem is your mindset of treating a house solely as an investment; to most people a house is a home first and foremost and once you eventually realise this things may start to make more sense to you.

AG47

Crashy_Time wrote: »

Prices are high because people were allowed to borrow too much, not because they "bettered" themselves in any way, in fact being 100`s of thousands in debt on a faltering illiquid asset is probably the opposite of "bettering" IMO.

Exactly right, debt levels so high with this amount of uncertainty is madness

lisyloo

Crashy_Time wrote: »

Prices are high because people were allowed to borrow too much, not because they "bettered" themselves in any way, in fact being 100`s of thousands in debt on a faltering illiquid asset is probably the opposite of "bettering" IMO.

All of the people I know bettered themselves. Did well in their careers or ran successful businesses, sometimes multiple businesses.
The mortgages are paid off or mostly paid off so didn’t borrow too much.

There has been a lot of credit tightening in recent years since the financial crisis. I can’t think of a way (apart from fraud) of borrowing too much now. The affordability criteria are quite strict.

If you disagree can you tell us how it’s possible to borrow “too much” now?

The-Joker

lisyloo wrote: »

There has been a lot of credit tightening in recent years since the financial crisis. I can’t think of a way (apart from fraud) of borrowing too much now. The affordability criteria are quite strict.

If you disagree can you tell us how it’s possible to borrow “too much” now?

America is slacking lending criteria again, the trend will probably spread here like it did last time

When all you need is a pulse to borrow again you know we are in trouble again

snowqueen555

I think if they offered the help to buy for non new houses that would help a lot of people like myself.

The new housing developers are making cheap houses and can charge a premium on them.

At least this way the profits is being distributed upon individual home sellers and not a handful of companies.

buglawton

Car leasing (essentially hire purchase but without the equity retention) has caused borrowing to balloon. Hence the Chancellor will be looking hard at overall lending.

sevenhills

snowqueen555 wrote: »

I think if they offered the help to buy for non new houses that would help a lot of people like myself.

The new housing developers are making cheap houses and can charge a premium on them.

If house buying became easier, it would just allow house prices to increase.

Getting_greyer

I hate the term "better oneself". You can increase your potential to earn and still be an absolute !!!!!!!.

bioboybill

Getting_greyer wrote: »

I hate the term "better oneself". You can increase your potential to earn and still be an absolute !!!!!!!.

I agree. Some of the biggest !!!!!! I know have had good careers and earned plenty.

A friend was also using the term to persuade me that I'm middle class and should be voting Conservative recently. I told her that I'm working class and would never vote for them even if I were a millionaire. She said, "but you've bought your own house and bettered yourself". I explained that although I was brought up on a council estate I didn't consider that owning my own house made me any better than the people still living there. I also said that no amount of money would make me care less for those who don't have it.

phillw

bioboybill wrote: »

I agree. Some of the biggest !!!!!! I know have had good careers and earned plenty.

It's almost a requirement. Very few nice people earn lots of money, if you're sitting there with piles of cash thinking "surely I'm one of the exceptions".. nah, probably not.