[Finance] 40 year mortgages

[Crawley Dingo]

This.

The only solution is supply side (house building) with as many affordables and social units as possible.

Nope, Demand side is the only way.

Even with 30 year mortgages its still a Ponzi scheme.

 

[Triggaaar]

The alternative is to seperate out the architecture from the build and get something more interesting....obviously this costs.

That's not workable. Design houses that are too expensive to build and no one will build them.

But what's the true cost of a miserable looking building to live in?

I agree that we shouldn't be building shit houses, but the onus is on buyers to not buy them. Buy used instead of paying a premium for something new and shit. Whenever I've looked at new builds I've felt there's been much better value used (that's obviously not to say there aren't exceptions).

 

[Triggaaar]

Nope, Demand side is the only way.

Even with 30 year mortgages its still a Ponzi scheme.

What is a Ponzi scheme, buying a house?

 

[cjd]

Germany being bottom doesn’t surprise me. Switzerland’s low ownership does though. I wonder what the reason is.

I,m not 100% sure why it is so low in ownership in Switzerland, but having been there at least a dozen times. you rarely meet any born and bred Swiss.

A lot of people go there to work,because the salaries are often very high. They earn their money and return eventually to their own countries.

Just about everything is eye-wateringly expensive there....particularly food.

 

[chip]

Denmark has an interesting co-operative housing scheme. You don't own the house, rather a share in the co-op society and the right to live in one of its properties. It's not cheap to buy into and there is a monthly rental charge (relatively low compared to shared-ownership here) but it does appreciate and can be sold when moving or inheritted/gifted. I think quite a bit of central Copenhagen housing is co-operative and hence you get normal Danes in the city centre.

 

[dazzer6666]

I,m not 100% sure why it is so low in ownership in Switzerland, but having been there at least a dozen times. you rarely meet any born and bred Swiss.

A lot of people go there to work,because the salaries are often very high. They earn their money and return eventually to their own countries.

Just about everything is eye-wateringly expensive there....particularly food.

It's a combination of reasons....good explanation here. I worked there a lot and it was often a topic of conversation

Why is home ownership so low in Switzerland?

According to Wiki and OECD data, only 42% of Swiss people own their home. This indicator is the lowest in Europe and the third lowest in the World. But why is this the case? Switzerland is one of the

politics.stackexchange.com

 

[Triggaaar]

Denmark has an interesting co-operative housing scheme. You don't own the house, rather a share in the co-op society and the right to live in one of its properties. It's not cheap to buy into and there is a monthly rental charge (relatively low compared to shared-ownership here) but it does appreciate and can be sold when moving or inheritted/gifted. I think quite a bit of central Copenhagen housing is co-operative and hence you get normal Danes in the city centre.

There are normal Danes?