UK house prices

[chump]

Now all we need is the Lib Dems promising to restore tax relief on mortgage interest and we will have a 'fullhouse' coming 'full circle' ....don't forget ..you read it here first

 

[chump]

http://news.independent.co.uk/business/news/article2768338.ece

The guys more like MR BEAN ...clueless

 

[laptop1]

Trapped in your own home

Interest rates have suddenly been lowed and number of our friends and acquaintance have been invited by their friendly bankers to refine their existing loans to cover additional luxuries such as an extra room on the house, a boot or a caravan ect. WARRING-Remember how the World Government financiers took over and destroyed nations/They used exactly the same principles.

a, Issue low interest rates loans with attractive repayment.

b, Put up interests rates

c, Foreclose.

To all you homeowners who are considering refinancing remember the following.

Make sure you have at least 51% equity in your property at all time. Bear in mind that the World Government people have plans already formulated to devalue the world real estate market.

This devaluation will raise the equity that the lending establishments have in householders properties in many cases to over 100%. People will then become discourage and any householders caught in this dreadful position would naturally try to quickly sell their home to recoup their losses. However, as the house could well be worth less than the value of the mortgage, they are trapped into either staying in their home and paying off the original mortgage or walking away and forcing a mortgage sale.

Remember that those who chose to stay and pay off their original mortgage will find that the interest rates will be raised higher and higher so that they cannot afford to meet the repayments each month and will find them self's in the same position as the others. To those who find this concept difficult it happen in the early late 80s early 90s...Reason ownership of land gives one a measure of security, which is not deemed necessary by the New World Leaders.....I feel I had to write this to warn others. The banks now want their money back, but at higher rates, than you borrowed from them.

 

[fat chance]

But when you look at why the housing market is so distorted - such that someone on an average wage must pay eight times his pre-tax annual salary in order to purchase an average house - it becomes clear that Mr Brown's Labour administration, far from providing solutions to this crisis, is in fact responsible for two of its most important causes: fractured families and unprecedented levels of immigration.

This is rubbish too.

Governments do not control families... If people decide to marry later or divorce more or decide to live independantly what is the government to do. So much for free markets touted by the DTelegraph.

As for immigrants, most of them can't afford their own house. Very few can. So take fill up the buy to let flats.

Agreed about the fractured families; it's silly to blame the government for that. However I think that if a million Poles were to suddenly go back to Poland (or whoever to wherever), then there would be some serious problems at the bottom end of the housing market as many buy-to-let landlords could be squeezed out. But the immigrants have been so good for the economy that you wouldn't want to turn the clocks back and prevent them from coming here. I think that the immigrants' impact on wage inflation has been significant... the gap between rich and poor is at its highest ever and the fact is that while people on >40k have been getting pay rises well above inflation those on <25k have only been getting increases of 2 or 3% because there is no shortage of immigrants willing to do the crappy jobs for next to nothing. I'm sure that this has contributed to housing becoming less affordable for first-time buyers. I'm also sure that if the goverment had really wanted 3 million extra homes to have been built over the last ten years, then they could have found the space, changed planning regulations... whatever it would have taken.

On a slightly different matter, I read recently that first-time buyers on low salaries (<35k) in the London area, unable to buy a property by themselves, are getting together in pairs (or pairs of couples even) to buy modest two-bedroom flats in the 250k - 300k range. This is in the belief that this will get them onto a wonderful magic housing ladder that will see them living in nice 3 bedroom houses in a few years time. Surely this is madness.

 

[Atilla]

Agreed about the fractured families; it's silly to blame the government for that. However I think that if a million Poles were to suddenly go back to Poland (or whoever to wherever), then there would be some serious problems at the bottom end of the housing market as many buy-to-let landlords could be squeezed out. But the immigrants have been so good for the economy that you wouldn't want to turn the clocks back and prevent them from coming here. I think that the immigrants' impact on wage inflation has been significant... the gap between rich and poor is at its highest ever and the fact is that while people on >40k have been getting pay rises well above inflation those on <25k have only been getting increases of 2 or 3% because there is no shortage of immigrants willing to do the crappy jobs for next to nothing. I'm sure that this has contributed to housing becoming less affordable for first-time buyers. I'm also sure that if the goverment had really wanted 3 million extra homes to have been built over the last ten years, then they could have found the space, changed planning regulations... whatever it would have taken.

On a slightly different matter, I read recently that first-time buyers on low salaries (<35k) in the London area, unable to buy a property by themselves, are getting together in pairs (or pairs of couples even) to buy modest two-bedroom flats in the 250k - 300k range. This is in the belief that this will get them onto a wonderful magic housing ladder that will see them living in nice 3 bedroom houses in a few years time. Surely this is madness.

I think your view of the immigration factor is wrong. I bet you are a Daily Telegraph reader.

That's the problem with the press they make out as if foreigners are the problem. No they are not. Cheap labour is the solution. How else are we to compete with the Chineese or Indians.

Look, when a Pole finds work most of his or her money goest on rent, food and travel. Basically existance expenditure, most of which goes straight into the economy or the indegenous popullation most of whom are likely to be British.

When some snotty rich trader gets a bonus. It goes into a Ferrari or the Bahamas. Into the pockets of foreigners. You can be sure most of that money one way or another leaves the UK.

This kind of mentality is wrong. The economy doesn't work that way.

1 million Poles leaving the UK means you don't have the skilled workers to build your homes.

And when you build them using Johny boy they'll be a lot more expensive than if you had used Barnabas.

Wake up and smell the coffee, it's probably being served to you by Halina, that nice looking Polish beauty...

 

[zambuck]

.....Well spoken....

.....The locals are weaned on horror stories of immigration.......It all started in late 70's and has been making rounds and unfortunately the gullible have fallen for it....!!

......Yes at my local it is Marcie the Check beauty with brains and the drive.....You can discuss anything and she is well informed.....She works long hours...Has managed to become a Manageress.....There is always a smile....And she NEVER short changes even if you are totally pissed.....Who says that blondes are brainless bimbos..!!

These are the people who are driving the sesrvice industry and micro economy here......

 

[fat chance]

I think your view of the immigration factor is wrong. I bet you are a Daily Telegraph reader.

That's the problem with the press they make out as if foreigners are the problem. No they are not.

I am a Daily Telegraph reader, but I don't believe everything I read in it. I do _not_ think that immigration has been a bad thing, and I am _not_ opposed to further immigration. As I said above, I agree that immigration brings huge benefits to the economy. However I do think that immigration has contributed to housing becoming less affordable for first time buyers on average wages, and I think that the current state of the housing market may be a bad thing for the average British citizen in the long term. The immigrants may have contributed to the housing market boom, but it has been too-low interest rates and insufficient new buiding that has made the boom excessive.

Cheap labour is the solution. How else are we to compete with the Chineese or Indians.

Let's not even try to. Even paying our workers minimum wage, we can't compete with them. British manufacturing companies are surviving in the global market place by increasingly contracting out their manufacturing work to the Far East, which seems like a good thing to me. Recruiting a poorly paid underclass to do those jobs here seems a tad pointless. I'm happy for the British economy to focus on financial services, high-tech engineering design etc. If the Far East catches us up in these fields then I think we've got problems.

1 million Poles leaving the UK means you don't have the skilled workers to build your homes.

True. Just to clarify... I don't want all the Poles and other immigrants to leave. I was just saying that if they did, I'd expect the bottom of the housing market to drop. I was trying to find a simple proof that immigration has contributed to house price rises, but on reflection that simple-minded argument is not it. I am very happy for further immigrants to come in and help the economy to grow while helping to keep wage inflation down at the bottom end of the scale. In particular, I'd like more builders to come and for them to be given the opportunity to build new houses rather than have them just tart about with manky old Victorian terraces.

 

[Atilla]

I am a Daily Telegraph reader, but I don't believe everything I read in it. I do _not_ think that immigration has been a bad thing, and I am _not_ opposed to further immigration. As I said above, I agree that immigration brings huge benefits to the economy. However I do think that immigration has contributed to housing becoming less affordable for first time buyers on average wages, and I think that the current state of the housing market may be a bad thing for the average British citizen in the long term. The immigrants may have contributed to the housing market boom, but it has been too-low interest rates and insufficient new buiding that has made the boom excessive.



Let's not even try to. Even paying our workers minimum wage, we can't compete with them. British manufacturing companies are surviving in the global market place by increasingly contracting out their manufacturing work to the Far East, which seems like a good thing to me. Recruiting a poorly paid underclass to do those jobs here seems a tad pointless. I'm happy for the British economy to focus on financial services, high-tech engineering design etc. If the Far East catches us up in these fields then I think we've got problems.



True. Just to clarify... I don't want all the Poles and other immigrants to leave. I was just saying that if they did, I'd expect the bottom of the housing market to drop. I was trying to find a simple proof that immigration has contributed to house price rises, but on reflection that simple-minded argument is not it. I am very happy for further immigrants to come in and help the economy to grow while helping to keep wage inflation down at the bottom end of the scale. In particular, I'd like more builders to come and for them to be given the opportunity to build new houses rather than have them just tart about with manky old Victorian terraces.

Good post fat chance.

I was OT in my reply but I just think the press appeal to the gutter senses at times and it gets my back up.

I did note in your previous blogg you thought it was all good for the economy and so forth but I thought I pick up on an inflamatory note. Sorry it was deliberate.

I would give up on the Evening Standard and the Daily Telegraph. Papers for non-thinkers imo. It's not that I'm Labour or like red Ken. Just based on their articles and take on news.

In an election held tomorrow, Kenneth Clarke and Boris Johnson would have my votes anyday. Don't know why the Tories went with Cameroo... Lightweight imo. No substance at all. If he plays his cards right, he may appeal to some sensitive hoodies and that's about it in my opinion.

 

[jacinto]

In an election held tomorrow, Kenneth Clarke and Boris Johnson would have my votes anyday. Don't know why the Tories went with Cameroo... Lightweight imo. No substance at all. If he plays his cards right, he may appeal to some sensitive hoodies and that's about it in my opinion.

its funny you say that. (i, as you know, am an immigrant. not by choice, i have to say )(different discussion though), and this is completely off topic from house prices, so will delete if asked.

my personal inclinations would be towards social democracy, so i guess that in the uk, that would mean either labour or the lib dems. for starters, i would never vote for a brownie that is still full of hot air from the oven , yet i can see how he wont lose office simply because the opposite is such a w0n/-rt.

j

 

[Atilla]

its funny you say that. (i, as you know, am an immigrant. not by choice, i have to say )(different discussion though), and this is completely off topic from house prices, so will delete if asked.

my personal inclinations would be towards social democracy, so i guess that in the uk, that would mean either labour or the lib dems. for starters, i would never vote for a brownie that is still full of hot air from the oven , yet i can see how he wont lose office simply because the opposite is such a w0n/-rt.

j

This word immigrant carries a stigma. Need not do so.

1. Assylum seeker
2. Economic migrant
3. Working traveller
4. Nomad
5. Sun seeker
6. Adventurer
7. Business man
8. Educational excursion
9. Love the country

In the post world war II period British embassies abroad took adverts in the Commonwealth countries promoting all the benefits of living and working in the UK.

The same positive policy of economic migration is now applied again as quoted before to maintain pressure on wage increases, provide skilled and unskilled labour as well as most importantly to counteract the declining popullation and increasing average age factor, which in another 20 years will mean pensions and the elderly will be cleaning the streets because the government and our tax system will not be able to tolerate the load on our SS system. We need these migrants to work their bollox off support the economy as well as breed like rabbits to produce offspring to slip into the tax system to prop up my little ol aching joints.

Anyway moving on...

I always wished I could work in New York when I was younger. I never considered my self as a migrant though. More of an adventurer. Sadly I never made it other than a long holiday there.

Now thinking of retiring outside of UK and I still don't see myself or family as migrants. Just a family looking for the good life. In fact don't know what the kids will do. They can decide themselves.

Makes me wonder what the Italians would think if I were to settle there in my old age with my family and perhaps do some spot of computer support and trading to keep the old ticker and grey cells lubricating. :cheesy:

I wonder whether the Mafiozies will be round saying

"Oi you old git, go back and live in your own country and let our young Italian studs get a roof over the heads."

 

[Atilla]

Sub-Prime Market Heros

Fed, States Bolster Supervision of Subprime Lenders (Update3)

 

[jacinto]

Atilla,

thanks for your sensitive post mate, but honest, for me the word immigrant is related to the legal concept........errr.......non-national that has come to another country.

I came to your country because my daughter was born in my country, her mother English, didnt want to raise her up in my country, and I simply couldnt bear the thought of not seeing the light of my life growing up away from me.

j

ps.....you bloody brit....you just brought tears to my eyes while i wrote this

 

[wasp]

Atilla,

thanks for your sensitive post mate, but honest, for me the word immigrant is related to the legal concept........errr.......non-national that has come to another country.

So you never tried running across the border into the great US or A for a better life then

 

[jacinto]

So you never tried running across the border into the great US or A for a better life then

then what the **ck did you do swimming all the way to your new island then :cheesy:

you cheeky insect (in a nice way, obviously )

 

[wasp]

then what the **ck did you do swimming all the way to your new island then :cheesy:

you cheeky insect (in a nice way, obviously )

I just thought that was the goal of all Mexicans!! Or have I seen to many Hollywood films!

 

[jacinto]

I just thought that was the goal of all Mexicans!! Or have I seen to many Hollywood films!

well......not all.....just the ones that have to go there.....


unlike the goal of all the brits wanting to go to FRANCE :cheesy:

 

[Atilla]

Atilla,

thanks for your sensitive post mate, but honest, for me the word immigrant is related to the legal concept........errr.......non-national that has come to another country.

I came to your country because my daughter was born in my country, her mother English, didnt want to raise her up in my country, and I simply couldnt bear the thought of not seeing the light of my life growing up away from me.

j

ps.....you bloody brit....you just brought tears to my eyes while i wrote this

Ahh a romantic adventurer... That's cool. I get the feeling you miss home.

When I went to NY going through passport control I remember standing underneath this sign that read Aliens. And so all the aliens queued underneath this sign. Funny it was. I take your point about the legal status. Man made invention...

One fantastic American quote coming from some Red Indian tribe can't remember which goes...

Land does not belong to men. Men belong to the land where they will return.

Spoken by a wise old Red Indian big chief. Mother nature doesn't give a hoot as to who owns what where - one way or another we end up in the soil.

Important aspect of life is to live in peace and harmony with what ever makes you happy. I can see you have that.

God bless the good daddy and all your good work. The British Isles are richer for having you and your offspring and all decent hard working humans irrespective of race colour or creed imo.

 

[jacinto]

Red Indian big chief.

The British Isles are richer for having you and your offspring and all decent hard working humans irrespective of race colour or creed imo.

oiiii....you old git, now pointin out colour differences are you...just because my avatar is red and black


thanks for your post, appreciate it.

all the best

j

 

[Atilla]

well......not all.....just the ones that have to go there.....


unlike the goal of all the brits wanting to go to FRANCE :cheesy:

No not the French please. Spain, Portugal or Italy for mei...:cheesy:

One of my friends at work Ben is from New Zealand. On his desktop he has this beautiful piece of land over looking the sea. He told me he owns it. Massive amount of land with a beach sea view.

I asked him what are you doing here then?

He said working to get money to build on it...

Hmmm...

 

[Atilla]

oiiii....you old git, now pointin out colour differences are you...just because my avatar is red and black


thanks for your post, appreciate it.

all the best

j

Yeah a little too much red mate. You look like you are on a war path to Argentina... :cheesy: