Its all over

[steward 433]

Dammit! Just accepted 45p from Hovel Born Inbred

See you paupers jumping at the first sensible offer.....

 

[Stumpy Tim]

Surely the amount of equity you have in the flat depends on how much you could sell it for if you had to? And if no-one is buying, it's worthless. So when they jack up the interest rates next time your deal is reassessed, and you can't find a tenant, what then?

Well I've had the same mortgage for 5 years, so there's no reassessment to happen. And I can currently afford to cover both my mortgages if that need arises. I also have insurance if I lose my job. Thanks for the concern

What amazes me more is all the people who have invested in the share market despite not having a CLUE how it works. I feel much safer investing in the housing market than I do in the share market because I have more of an idea on what's going on in the housing market

 

[Stumpy Tim]

I think "people like that" are parasites personally. Keen to make a fast buck ( f*** it, we're all American now anyway) at the expense of those who can't afford to buy and have little or no social housing options.

I don't understand this argument to be honest. Some people invest in shares, some people invest in housing, some people invest in gold and so on. I think it's stupid to own 10 houses as if/when the housing market slumps (which it will always do at some point) then you've got all your eggs in one basket and you're screwed. But there's nothing wrong with investing in property sensibly.

 

[Bevendean Hillbilly]

Heres a novel suggestion...instead of pouring money into the shit-pit banks who then refuse to lend it to each other because they are "protecting assets", assets WE are supplying for nothing BTW, why not use the same billions to pay off everyones mortgage..that would sure as hell stoke the housing Market, relieve poverty and allow everyone to start again.

Not sure what britains Mortgage debt is but I bet it is roughly similar to the amount we are chucking at Banks who,frankly,deserve to go down the kharzi for incompetence and greed.

Is it lost on everyone for years we have heard the City banging on about "No Government interference in with the Market, The Free Market economy musn't be stifled by regulation!" yet the minute that the house of cards they built starts to fold they come crying to the Taxpayer to bail them out so Teresina and Tarquins school fees are protected.

Twats.

 

[Chicken Runner61]

Heres a novel suggestion...instead of pouring money into the shit-pit banks who then refuse to lend it to each other because they are "protecting assets", assets WE are supplying for nothing BTW, why not use the same billions to pay off everyones mortgage..that would sure as hell stoke the housing Market, relieve poverty and allow everyone to start again.

Not sure what britains Mortgage debt is but I bet it is roughly similar to the amount we are chucking at Banks who,frankly,deserve to go down the kharzi for incompetence and greed.

Is it lost on everyone for years we have heard the City banging on about "No Government interference in with the Market, The Free Market economy musn't be stifled by regulation!" yet the minute that the house of cards they built starts to fold they come crying to the Taxpayer to bail them out so Teresina and Tarquins school fees are protected.

Twats.

Had the same sort of thought this morning myself. I think the problem is with the savers that would lose their money if the bank went. If that happens everyone would go back to keeping it under the mattress.

 

[bullshit detector]

Nationalise the Stock Exchange, nationalise the assets of all the foreign billionaires skulking in this country...that'll free up some money, and it'll do for Chelsea as a bonus

 

[Mtoto]

I don't understand this argument to be honest. Some people invest in shares, some people invest in housing, some people invest in gold and so on. I think it's stupid to own 10 houses as if/when the housing market slumps (which it will always do at some point) then you've got all your eggs in one basket and you're screwed. But there's nothing wrong with investing in property sensibly.

What does "investing sensibly" mean though? Getting a mortgage for even a single buy-to-rent flat isn't investing, it's using a money-lender's cash to take a punt that house prices will continue to rise.

If you can manage to pay two mortgages to term without any problems even if you can't find a tenant, then great. Trouble is, this is not the basis on which the vast majority of buy-to-rent mortgages have been arranged,

 

[Couldn't Be Hyypia]

Just to have a debate about the number of zero's involved in the amount we all owe on mortgages - here is a rough calculation:

Number of households in the UK - 28 million
Average house value - £219,262 (bbc.co.uk)
Average mortgage size £138,313 (mortgages.co.uk)

So we owe between us £3,872,764,000,000 if you wanted to pay off every mortgage in the UK. I think that's about 4x GDP - that's 4x the amount we generate as an entire country in a year.

There's 1000 million in a billion, which means we owe £3,873 billion. The Government just put £9 billion in to nationalise B&B.

We have nowhere near NOWHERE NEAR enough money to pay off everyone's mortgages.

 

[Hannibal smith]

I think the trouble with buy to let is that no really knows what is going to happen as the last time the arse fell out of the market, there was no buy to let market of any substance. Rents haven’t gone down yet so there should be no panic to speak off. As, however, lenders shut up shop and everyone is expecting the worst in this market it will probably end up as a self fulfilling prophecy.

 

[larus]

Heres a novel suggestion...instead of pouring money into the shit-pit banks who then refuse to lend it to each other because they are "protecting assets", assets WE are supplying for nothing BTW, why not use the same billions to pay off everyones mortgage..that would sure as hell stoke the housing Market, relieve poverty and allow everyone to start again.

Not sure what britains Mortgage debt is but I bet it is roughly similar to the amount we are chucking at Banks who,frankly,deserve to go down the kharzi for incompetence and greed.

Is it lost on everyone for years we have heard the City banging on about "No Government interference in with the Market, The Free Market economy musn't be stifled by regulation!" yet the minute that the house of cards they built starts to fold they come crying to the Taxpayer to bail them out so Teresina and Tarquins school fees are protected.

Twats.

OK, what about people who are renting. Should they be given a house?

Really, just think about what you're saying. Statements like this just show that some people have no understanding of economics at all.

How about we just print enough money and make everyone a millionaire? That's it, problem solved. We're all rich then.

 

[Trufflehound]

How about we just print enough money and make everyone a millionaire? That's it, problem solved. We're all rich then.

They're trying that in Zimbabwe at the moment. It's working well so far....

 

[Couldn't Be Hyypia]

Not sure what britains Mortgage debt is but I bet it is roughly similar to the amount we are chucking at Banks.

Nope.

 

[Trufflehound]

You watch the markets tomorrow.

FTSE 100 UP 0.22% as of 1 minute ago.
FTSE All Share UP 0.3%.

 

[Bevendean Hillbilly]

OK, what about people who are renting. Should they be given a house?

Really, just think about what you're saying. Statements like this just show that some people have no understanding of economics at all.

How about we just print enough money and make everyone a millionaire? That's it, problem solved. We're all rich then.

1.Yes.

2.Correct.me in particular, but even a dunderhead can see that giving banks Billions of pounds,unconditionally, to cover their own incompetence is a crock.

3. Actually that there is Exactly what the US did immediately after the war of independence, printed money guaranteed against a gold reserve they didn't have..seemed to work for them.

 

[Bevendean Hillbilly]

Just to have a debate about the number of zero's involved in the amount we all owe on mortgages - here is a rough calculation:

Number of households in the UK - 28 million
Average house value - £219,262 (bbc.co.uk)
Average mortgage size £138,313 (mortgages.co.uk)

So we owe between us £3,872,764,000,000 if you wanted to pay off every mortgage in the UK. I think that's about 4x GDP - that's 4x the amount we generate as an entire country in a year.

There's 1000 million in a billion, which means we owe £3,873 billion. The Government just put £9 billion in to nationalise B&B.

We have nowhere near NOWHERE NEAR enough money to pay off everyone's mortgages.

Thank you for that.

What about just mine and yours then?

 

[User removed 4]

3. Actually that there is Exactly what the US did immediately after the war of independence, printed money guaranteed against a gold reserve they didn't have..seemed to work for them.

that was in 1776 though .

 

[Lokki 7]

FTSE 100 UP 0.22% as of 1 minute ago.
FTSE All Share UP 0.3%.

Sell it.

 

[Couldn't Be Hyypia]

Thank you for that.

What about just mine and yours then?

Now, THAT is a plan!

 

[larus]

1.Yes.

2.Correct.me in particular, but even a dunderhead can see that giving banks Billions of pounds,unconditionally, to cover their own incompetence is a crock.

3. Actually that there is Exactly what the US did immediately after the war of independence, printed money guaranteed against a gold reserve they didn't have..seemed to work for them.

I am not in favour of bailing out the banks. OK.

So, we make everyone a millionaire based upon our gold reserves. Great idea. Oh shit, Gordon 'Prudence' *snigger* Brown sold shed loads at knock-down prices.

Once everyone becomes millionaires, who's gonna work?

 

[Titanic]

Just to have a debate about the number of zero's involved in the amount we all owe on mortgages - here is a rough calculation:

Number of households in the UK - 28 million
Average house value - £219,262 (bbc.co.uk)
Average mortgage size £138,313 (mortgages.co.uk)

So we owe between us £3,872,764,000,000 if you wanted to pay off every mortgage in the UK. I think that's about 4x GDP - that's 4x the amount we generate as an entire country in a year.

There's 1000 million in a billion, which means we owe £3,873 billion. The Government just put £9 billion in to nationalise B&B.

We have nowhere near NOWHERE NEAR enough money to pay off everyone's mortgages.

The actual total mortgage advances in the UK are approx £1,216 billion.