how brexit is about to hit house prices

Moderator: Moderator

User avatar
MIK_bg
Super User!
Super User!
Posts: 285

Postby MIK_bg » Sun Aug 07, 2016 2:19 pm

But this is the whole speculative economy scheme which made britain great....it's anti british to speak against speculators rights. Shame on you!

User avatar
scot47
Mega User!
Mega User!
Posts: 9517
Location: Clyde Estuary
Contact:

Postby scot47 » Sun Aug 07, 2016 4:31 pm

In the newly-liberated zones in China in the 1930s and 1940s, the first act of the PLA was to execute the landlords. Sounds like a plan.

User avatar
banjo
Super User!
Super User!
Posts: 390
Location: northants / Varna

Postby banjo » Sun Aug 07, 2016 6:10 pm

Just remember when the banks were giving 100% mortgages and 5 times the average yearly income and collapsed in 2008. :rock: :rock:

User avatar
scot47
Mega User!
Mega User!
Posts: 9517
Location: Clyde Estuary
Contact:

Postby scot47 » Sun Aug 07, 2016 6:57 pm

Some were giving 110% mortgages - ie 10% more than valuation ! madness. No wonder the system crashed.

User avatar
troyan
Super User!
Super User!
Posts: 613

Postby troyan » Mon Aug 08, 2016 12:04 am

Not to mention the absurd level of other credit fuelled by greed, the absurd APR rates on loans and credit cards, and the debt upon debt consoldation companies like Ocean Finance.
I suppose many people are still paying those things off.
A lot of people dont even understand what APR is, it is that well disguised.

FlagHostel

Postby FlagHostel » Mon Aug 08, 2016 9:31 am

just read, a 1% drop in house prices in july

https://uk.finance.yahoo.com/news/house ... 18088.html

troyan, i agree with you, most people do not understand APR.

but

you need debt in society.
businessmen borrow and most run their companies using loans.
no loans - no companies - no jobs for people.

i also read on saturday that manchester now has the biggest drop in home ownership against the biggest rise in renters.
this means that buyers at the bottom end of the ladder cannot afford the
cheapest houses.

people who rent get used to it. it's not the end of the world.

not everyone can be landlords, doctors, lawyers etc.

you get thick people everywhere. renting provides a roof over their heads.

if people in manchester don't like renting, they only have to move to burnley.
here the chepest 3 bed house i see on the internet is £15,000 at the moment.
then they only have to drive 45 mins to work, catch a bus or train.

there are solutions to everything if you are flexible

User avatar
troyan
Super User!
Super User!
Posts: 613

Postby troyan » Mon Aug 08, 2016 10:08 am

Flags
good points, I could only really justify debt as a means to an end and is pointless if the borrower does not gain from the debt or remains in positive equity

Definitely in business there has to be loans but on the basis the lender and the borrower benefit

But so often it is just greed, people borrow huge amounts of money for weddings, holidays and other things they really should not be borrowing for, and quite often these are on top of big mortgages.

Personally I am allergic to APR and have never had a credit card.... if you actually do the simple maths on say a car loan it is astounding, and coupled with depreciation buying a new car on finance is the worst move in the history of credit.

The only credit I had in the UK was a mortgage,which was a current account mortgage, and was brilliant for my BG escapades and really because I opted to just pay the interest was much much cheaper than the equivalent rent.......but this is only successful if you have an exit strategy as eventually the mortgage becomes unpayable.Current account mortgages are a fantastic tool if managed correctly.

and your best point there are solutions if you are flexible

User avatar
MIK_bg
Super User!
Super User!
Posts: 285

Postby MIK_bg » Mon Aug 08, 2016 10:17 am

No, no, some where giving 130% - 140% mortage so you could blow money in nice refurbishing and fornitures...at least in Italy. Now you need a second property as collateral, 2 people working with undeterminate time contracts just to get 60%. This means anyone under 40 cannot buy 1# house without parents giving their properties as collaterals.

FlagHostel

Postby FlagHostel » Mon Aug 08, 2016 4:21 pm

or MIK anyone complaining should move to burnley

buy out right for £15k before the prices there start going up

User avatar
troyan
Super User!
Super User!
Posts: 613

Postby troyan » Mon Aug 08, 2016 5:38 pm

Flags

there is a reason for that.............I wont even ask you whether you have been to Burnley

I had the misfortune to work on a live sewage works in Colne which is attached to Burnley way way back in the 80 s .........life gets better after that


Return to “Politics non Bulgarian”

Who is online

Users browsing this forum: No registered users and 2 guests