They are all working for the Nu Laber bureacracy, and have received so much taxpayers money in salaries, that they have all bought second homes in Benidorm.
With luck they will retire there, and stop voting Nu Laber.
"that you can't afford to repay". Any proof of this? or are you making this up?
Our resident brainwashed Tory snot is at it again.
Somehow I knew you were going to say that :o)
All free markets work within some frame or other that is, to some extent, rigged.
You are, of course, quite correct in your assertion that increasing supply will have the same effect as lowering demand. The "let them build anywhere" argument you put forward has been gone over before here (too) many times - I should just say that, like with the imposition of control on the demand side, the removal of controls on the supply side will be equally contentious (if not more so). My own view is that a "build anywhere" policy is impractical for as long as empoyment opportunities are so variable across the country. If they weren't there might be some merit in it.
While you may find my suggestion of borrowing control over-complex as a solution for an unstable housing market, it also might deal with the worrying (to some, anyway) levels of general consumer debt and deal with two problems at once.
Because that is the problem. It is obvious.
So two wrongs make a right then?
Of course it is correct. Look at the UK since 1945. We have always had a house problem. It will not go away untill the land is freed up and the supply side can flourish lowering the land values and hence end house values. The market and the private sector will fillful the vast majority of housing needs, raising the levels of housing in quality and space. We mainly live in hutches in the UK. I relative met some Americans on holiday and they visted the UK. they have the typical 4 bed two bathroom UK detached house thinking they had a big house. The Yanks called it "a cute little house", and were shocked when they found that the UK house was one third more than the price of their houses which were twice the size.
It is still the best option, and not allowing people to build on open subsidised fields is an infringement of liberty.
What do you mean? I think you mean the brainwashed masses and greenies would say "don't concrete over the countryside". You literally can't do that as we have only built on 7.5% of the land. Impossible to do. BTW, the home counties are "underpopulated". So much for the south east overheating.
It will sort itself out. If people can build in nice parts of the country, the industry and commerce will follow. Look at Milton Keynes. They concentrated mainly on the residential side. Most new town have industry as the core with the homes supporting it. MK had industry follow the homes.
I think it is nonsense and interfering with a market that should be free. Just free up the market and no need to meddle. Consumer debt? I assume you mean borrowing for TV sets and the likes. 80% of it is mortgages. People putting a small super expensive roof over their heads. Houses are so expensive that now only 7% of all families have the wife permanently at home. Both have to work to pay the mortgage for the hutch they live in.
Look at the big picture, get real, and get this countryside propaganda out of your head.
overheating.
How do you know so many facts?
Mary, I just do.
The Dutch housing market certainly saw very strong growth a couple of years ago. Friends buying in Amsterdam faced similar problems to those buying in London.
-- Richard Sampson
email me at richard at olifant d-ot co do-t uk
IMM wrote
You just don't get it do you? Prices are falling now, and it's got nothing to do with the non-availability of land. It's simply because people are less confident that it's a good idea to borrow more than they can afford to pay back at the moment, now that interest rates are rising. If the lenders were more circumspect about how much people could borrow, like they used to be, it would have the same effect.
Now let's have no more of this ridiculous idea of building millions of houses where nobody wants to live, there's a good chap. Discussion over.
Peter
Unforunately that doesn't seem to include basic netiquette facts...like the one about snipping over a hundred lines of quotes that you're not referring to in the single line you replied with. Of course, others seem to do that as well....
Ronnie
IMM wrote
Now calm down and think. If you borrow as much as you can afford when the interest rates are low, you are going to have problems when the interest rate rises, are you not?
Too many people who bought houses in the late 80's at the top of the market were broken when the interest rates went up in the recession of the early 90's and house prices fell in consequence. If you've never heard of it, this is what is meant by negative equity. I heard some poor people who couldn't pay the arrears and couldn't sell, just took their house keys back to the Building Society and handed them over.
So, just so that you will know in future. If you are going to borrow as much as you can afford to pay back, you should allow for a rise in interest rates. If you borrow more than this then you can't afford to pay it back, can you!
Doh!
That says it all.
Ronnie Gibson wrote
you replied
Although he loves snipping the bits he doesn't agree with or, more likely, doesn't have an answer to.
Actually, it isn't. Negative equity merely means that the loan is more than the value of the asset.
If you can afford to pay the mortgage and wait out the recession, it isn't a problem.
Except everyone forgets those who have to move because thay have changed their job - not their fault always.
Why can't you learn to snip properly?
J.B.
[24 lines snipped]
That's where "wait out the recession" comes in.
Actually, that's exactly what I said.
Yes, but that wasn't the question - if you read the thread you'll see. If you can't afford the repayments, whatever the interest rate, then you borrowed you more than you can afford.
I always have an answer, and it is always the right one.
< snip tripe >
Thank you. I can see you a fine lady Mary.
HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.