Bring on the repossessions

But, but, but...

....Ginge is heading this way!

 

IIRC, 7.62mm was 7p.

 

Until we're walking off the southern side of the Isle of Wight, there's
plenty of room to retreat without going North!

 

Good point, actually.

 

Yes sir,

--

 

Shows how up to date I am when it comes to mortgages I think it was about
2.5 times when I took my first one out 30 years ago.


--
Beav

VN 750
Zed 1000
OMF# 19

 

"eric the brave" <""simonb_at_zapik_dot_co_dot_uk\"@foo.com (eric the
brave)"> wrote in message

When were they ever that?


--
Beav

VN 750
Zed 1000
OMF# 19

 

Okay - fair enough.

Being slightly tangential, but when did the idea that we all had a
right to buy our own house come into being?

Thatcher told us, which pised off my old man.

Did people in previous generations all own their houses?

My old man was totally opposed to house ownership. Well that was until me
and my brother and sister bought him one. He didn't seem to object too
strongly about living rent and mortgage free for 20 odd years. Mind you, he
was a bit of a hypocrite.



Not saying it's fair or unfair - just interested in whether the
attitude has changed as well as the price

Attitudes have definitely changed.


--
Beav

VN 750
Zed 1000
OMF# 19

 

And ALMOs, don't forget.

Ali

 

Rilly? Out of all my Merkin chums, only about twenty percent are buying
their own gaffs. On the West Coast it seemed to be mostly rental.

Ali

 

I disagree. In the medium term the baby boomer generation will reach
retirement age. Many of those people with buy to let properties will
want to release the equity to fund their social and health care at a
satisfactory level. The State will means test everything and the State
funded care provision will be minimalistic.

In the medium term the tax take will not be enough to fund the
social/health care needs of the baby boomer generation. The
birth/immigration rate since the mid 1970s has not been high enough to
produce enough economically active people to replace the baby boomers as
they retire.

It is likely that there will be a huge balance of payments deficit due
to the imbalance between the economically active/inactive cohorts. Some
of that imbalance will be addressed by people releasing equity from
their properties. However, as the pool of economically active people
reduces demand for property will decrease. Even without interest rate
rises there is going to be a massive property crash in the medium term.

 

Jesus. That's ten times what I owe.

 

You should be able to find a portfolio of investments that can give you
a decent return on that sort of cash but balanced against your tolerance
of risk / potential for loss of some capital / returns.

 

The Older Gentleman coughed up:

I have a few years left, then the trauma of sorting out my endowment
mortgage shortfall.

Happy days


--
Dan L

http://thebikeshed.spaces.live.com/
1996 Kawasaki ZR1100 Zephyr

BOTAFOT #140 (KotL 2005/6)
X-FOT#000
DIAABTCOD #26
BOMB#18 (slow)
OMF#11

 

The Older Gentleman says...

I owe £167 on mine and I think that's too much some days.

 

Well, it seems that the multiplier used by the banks is pretty much the
only thing that's keeping up with house price inflation.

Funny that.

But what do I know, given that I've got a 1.5x income mortgage.

 

Yebbut, the West Coast is *seriously* expensive if you're talking Cali.
A lot of the people I know over there either want to or have bought
their own roof over their heads.

Heck, even Ann's Army brother[1] bought a farm in Kansas.

[1] As opposed to the more sensible one who isn't in the Army.

 

They probably *have* pensions that do, as opposed to the piss-poor
state pension over here.

Mind you, the way the supposedly superior German system is going for
people my age is that we get to pay twice. But then again, I haven't
given them money for the past nine years.

 

Beav coughed up:

**** me, was that in the 19th century then, you're fucking ancient, man.<snip>



--
Dan L

http://thebikeshed.spaces.live.com/
1996 Kawasaki ZR1100 Zephyr

BOTAFOT #140 (KotL 2005/6)
X-FOT#000
DIAABTCOD #26
BOMB#18 (slow)
OMF#11

 

A search on Rightmove for Blackwood + 10 miles around with a max of
50k returns loads of housing, starting around 30k.

Someone on minimum wage in full-time employment (10k per annum) could
get a 30k mortgage.