Watch prices rocket even further. All part of the plan.
Jesus fucking Christ. The sons may not inherit the sins of the father, but they will choke on his debt!
Take action on the insane number of StLs and holiday homes blighting swathes of the country. Crack down on the banks and other bodies hoovering up properties and packing them as an assets to be traded. Seize properties that sit empty and get people into them. Making second (third, fourth, fifth…) homes increasingly expensive.
And, brace for a concept, **build more homes you fucking shits!** Not car dependent, out of town wank that people don’t need. Homes near jobs and that have infrastructure.
So instead of doing anything to lower house prices to improve access to home ownership, the govt is basically trying to give us the means to take on more debt to shoulder the ever growing wealth of landlords. Cool.
A wonderful solution that favors the banks, government, and of course the wealthy.
Apparently fresh out of ideas that would actually help people.
House price, house price, über alles.
Insteading of fixing the problem, let’s plaster over it.
So, mortgages are less than rent but you can’t get one because your future ability to repay isn’t guaranteed. I won’t say more, the conclusion here is too obvious and you can all work it out for yourselves.
Houses used to cost 4 times the median household income. They now cost 20 times income. Mortgages are stuck at 4 times and that metric needs adjustment more than spreading out repayment and extending interest for longer and longer without government assistance or a wealth rebalance.
The problem is this : GDP is the measure of success. High house prices artificially inflate GDP, which includes things like ‘imputed rent’ – the notional rent that people who own their own homes pay themselves as if they rented it out at market rates. That is 10% of our GDP.
That means you *can’t* lower house prices without reducing GDP.
You instead increase house prices by increasing the amount of cheap debt people can access. Yes, we under-build, but a huge part of this problem is simply credit availability constantly expanding.
I wouldn’t mind the rental economy if we had strong laws like Germany.
Rental stock is disgusting; People don’t want to feel like cattle.
Medieval peasants had more recall on landlords I feel
What a fucking piss take. As Johnny Rotten used to snarl: “Ever feel like you’ve been cheated?”
Absolute stupidity…
Well with the housing stock quality in the UK whoever inherits those mortgages will probably need to get another 50 year loan just to rebuild & renovate.
Boris can go fuck himself and every other tory prick in this country
What happens when the child doesn’t earn enough to cover the outstanding mortgage?
There is nothing preventing banks from offering 50 year mortgages today if they wanted to (some offer 35 years already). Just another load of rambling nonsense out of Johnson, pretending he has some kind of plan or vision to get the country out of the hole the Tories have got us in to.
> Families could be offered “multi-generational” 50-year mortgages allowing parents to pass on outstanding debt to their children, under plans being considered by Downing Street.
> No 10 is understood to be looking at ways to create a market for intergenerational mortgages, letting buyers borrow over terms of 50 years – or even longer – if offspring are signed up to inherit property and pay the rest of the loan.
This is basically a generational curse. Rather than pass on wealth you pass on debt.
Why don’t we just protest and force them to build more houses? I don’t get it? Why are we just watching?
Have we tried banning 2nd homes and BTL yet?
With a 500% council tax?
I cannot think of anything worse, than a child inheriting the debt of their parents. Do you know how much misery that would cause
The plan is to bind people to the land their parents lived on. It’s serfdom via debt peonage.
Indentured servants in other words
During the pandemic the used car market started to act like the housing market. People started to hoard used cars, the price of them went up and getting hold of one became difficult even though technically there were enough to go around.
Did we talk about creating intergenerational loans so people could buy used cars?
Or did we say it will all sort itself out once we increase the production of cars and they go back to the normal state of affairs – used cars depreciating and few people hoarding them because they would lose money if they did.
What we need to do is go on a building spree until there are sufficient houses that they start to depreciate in price. That will cause a phase shift in the market and vastly increase supply. At which point we can retire the really rubbish houses for recycling.
It’s way past time that the housing market behaved like the used car market.
A lot of today’s new builds won’t last 50 years. The root of the problem is the housing supply shortage engineered by this government. It allows greedy, Tory voting property developers to keep prices artificially high. We need to mandate the construction of quality, but affordable homes, and outlaw the practice of land-banking.
This isn’t really anything new other than a longer lending term, surely?
If you die, your estate has to sell up or pay off the mortgage.
God forbid homes should be affordable. Fucking Tory arseholes. Price goes up, wages stay flat. We’ll just lend you more money so you can work longer and have less money.
So future generations will literally be born with debt?
Oh yeah, great idea.
Idiots.
Cost of my mortgage 650 per month
Cost if I rent my house 1300 per month
The market is not going to crash until we address the shortage. Previous crashes have been learned from and are now seen as opportunities by lenders.
The cost of living crisis will force people to give up their homes to all too welcoming banks because of how much more can be made from renting the property.
£200 interest Vs £1000+ rental profit
100 year mortgage that the next generation can’t afford is just another way to long term move owned housing stock to the private landlords (banks).
Housing will keep becoming unaffordable until a government starts looking at measures such as rent control and lenders vested interests.
Yes, the problem with young people of today is that they don’t inherit enough debt. If we don’t saddle them with debt as soon as possible they might not work hard enough.
‘Mortgage’ means ‘death pledge’. Now being taken rather literally. How many deaths can we squeeze out of a single loan?
Quick dirty fix – people should only be allowed a mortgage for two houses maximum, any other properties in your “portfolio” should be payed in full in cash.
We have allowed a ludicrous situation to develop. It is easier to own 20 houses and have 19 people pay for my mortgages than it is to buy your first house.
A 50 year mortgage will fix nothing, portfolios will just expand further & house prices will increase with demand – another Government kicking the timebomb down the road.
Edit to add – private rented households has increased from 11% to 2004 to 18% 2021 – so that almost 1 in 5 households are paying someone else’s mortgage in rent.
“House are expensive you should build more”
“Here’s some help with the deposit”
“Houses are expensive you should build more”
“Here’s help to buy so you can get more Than the banks want to give you”
“Houses are expensive you should build more”
“What about a 50 year mortgage”
God damn it
This is the worst and most corrupt government we’ve ever had.
I know a lot of people hate Thatcher but she took over an absolutely fucked country and somewhat sorted it out albeit by far from great means.
This bunch are looking like making us the only country looking at stagflation and that’s after a lost decade already.
Remember that both Boris and Rishi had US passports suggesting that they had a place to escape to if things got really bad.
Any alternative is better.
Jokes on them, I’m not having kids.
Fuck that. I refuse to let my kids inherit debt. How about we just impose rental tariffs and charge a larger tax on second homes? Stop noshing the landlords already.
In debt because 30 years ago, your parents bought a house? That is insane.
If this shit keeps going how it’s going I’m just going to murder a bunch of toffs and off myself by the age of 50. Fuck contributing to this bullshit.
36 comments
The Ponzi must be sustained no matter what!
Watch prices rocket even further. All part of the plan.
Jesus fucking Christ. The sons may not inherit the sins of the father, but they will choke on his debt!
Take action on the insane number of StLs and holiday homes blighting swathes of the country. Crack down on the banks and other bodies hoovering up properties and packing them as an assets to be traded. Seize properties that sit empty and get people into them. Making second (third, fourth, fifth…) homes increasingly expensive.
And, brace for a concept, **build more homes you fucking shits!** Not car dependent, out of town wank that people don’t need. Homes near jobs and that have infrastructure.
So instead of doing anything to lower house prices to improve access to home ownership, the govt is basically trying to give us the means to take on more debt to shoulder the ever growing wealth of landlords. Cool.
A wonderful solution that favors the banks, government, and of course the wealthy.
Apparently fresh out of ideas that would actually help people.
House price, house price, über alles.
Insteading of fixing the problem, let’s plaster over it.
So, mortgages are less than rent but you can’t get one because your future ability to repay isn’t guaranteed. I won’t say more, the conclusion here is too obvious and you can all work it out for yourselves.
Houses used to cost 4 times the median household income. They now cost 20 times income. Mortgages are stuck at 4 times and that metric needs adjustment more than spreading out repayment and extending interest for longer and longer without government assistance or a wealth rebalance.
[Called it months ago](https://www.reddit.com/r/unitedkingdom/comments/shshfn/house_prices_see_fastest_growth_rate_in_january/hv57r1z?utm_medium=android_app&utm_source=share&context=3).
The problem is this : GDP is the measure of success. High house prices artificially inflate GDP, which includes things like ‘imputed rent’ – the notional rent that people who own their own homes pay themselves as if they rented it out at market rates. That is 10% of our GDP.
That means you *can’t* lower house prices without reducing GDP.
You instead increase house prices by increasing the amount of cheap debt people can access. Yes, we under-build, but a huge part of this problem is simply credit availability constantly expanding.
I wouldn’t mind the rental economy if we had strong laws like Germany.
Rental stock is disgusting; People don’t want to feel like cattle.
Medieval peasants had more recall on landlords I feel
What a fucking piss take. As Johnny Rotten used to snarl: “Ever feel like you’ve been cheated?”
Absolute stupidity…
Well with the housing stock quality in the UK whoever inherits those mortgages will probably need to get another 50 year loan just to rebuild & renovate.
Boris can go fuck himself and every other tory prick in this country
What happens when the child doesn’t earn enough to cover the outstanding mortgage?
There is nothing preventing banks from offering 50 year mortgages today if they wanted to (some offer 35 years already). Just another load of rambling nonsense out of Johnson, pretending he has some kind of plan or vision to get the country out of the hole the Tories have got us in to.
> Families could be offered “multi-generational” 50-year mortgages allowing parents to pass on outstanding debt to their children, under plans being considered by Downing Street.
> No 10 is understood to be looking at ways to create a market for intergenerational mortgages, letting buyers borrow over terms of 50 years – or even longer – if offspring are signed up to inherit property and pay the rest of the loan.
This is basically a generational curse. Rather than pass on wealth you pass on debt.
Why don’t we just protest and force them to build more houses? I don’t get it? Why are we just watching?
Have we tried banning 2nd homes and BTL yet?
With a 500% council tax?
I cannot think of anything worse, than a child inheriting the debt of their parents. Do you know how much misery that would cause
The plan is to bind people to the land their parents lived on. It’s serfdom via debt peonage.
Indentured servants in other words
During the pandemic the used car market started to act like the housing market. People started to hoard used cars, the price of them went up and getting hold of one became difficult even though technically there were enough to go around.
Did we talk about creating intergenerational loans so people could buy used cars?
Or did we say it will all sort itself out once we increase the production of cars and they go back to the normal state of affairs – used cars depreciating and few people hoarding them because they would lose money if they did.
What we need to do is go on a building spree until there are sufficient houses that they start to depreciate in price. That will cause a phase shift in the market and vastly increase supply. At which point we can retire the really rubbish houses for recycling.
It’s way past time that the housing market behaved like the used car market.
A lot of today’s new builds won’t last 50 years. The root of the problem is the housing supply shortage engineered by this government. It allows greedy, Tory voting property developers to keep prices artificially high. We need to mandate the construction of quality, but affordable homes, and outlaw the practice of land-banking.
https://www.stripehomes.co.uk/britains-hoarding-housebuilders-increase-land-banking-plots-during-the-pandemic/
This isn’t really anything new other than a longer lending term, surely?
If you die, your estate has to sell up or pay off the mortgage.
God forbid homes should be affordable. Fucking Tory arseholes. Price goes up, wages stay flat. We’ll just lend you more money so you can work longer and have less money.
So future generations will literally be born with debt?
Oh yeah, great idea.
Idiots.
Cost of my mortgage 650 per month
Cost if I rent my house 1300 per month
The market is not going to crash until we address the shortage. Previous crashes have been learned from and are now seen as opportunities by lenders.
The cost of living crisis will force people to give up their homes to all too welcoming banks because of how much more can be made from renting the property.
£200 interest Vs £1000+ rental profit
100 year mortgage that the next generation can’t afford is just another way to long term move owned housing stock to the private landlords (banks).
Housing will keep becoming unaffordable until a government starts looking at measures such as rent control and lenders vested interests.
Yes, the problem with young people of today is that they don’t inherit enough debt. If we don’t saddle them with debt as soon as possible they might not work hard enough.
‘Mortgage’ means ‘death pledge’. Now being taken rather literally. How many deaths can we squeeze out of a single loan?
Quick dirty fix – people should only be allowed a mortgage for two houses maximum, any other properties in your “portfolio” should be payed in full in cash.
We have allowed a ludicrous situation to develop. It is easier to own 20 houses and have 19 people pay for my mortgages than it is to buy your first house.
A 50 year mortgage will fix nothing, portfolios will just expand further & house prices will increase with demand – another Government kicking the timebomb down the road.
Edit to add – private rented households has increased from 11% to 2004 to 18% 2021 – so that almost 1 in 5 households are paying someone else’s mortgage in rent.
“House are expensive you should build more”
“Here’s some help with the deposit”
“Houses are expensive you should build more”
“Here’s help to buy so you can get more Than the banks want to give you”
“Houses are expensive you should build more”
“What about a 50 year mortgage”
God damn it
This is the worst and most corrupt government we’ve ever had.
I know a lot of people hate Thatcher but she took over an absolutely fucked country and somewhat sorted it out albeit by far from great means.
This bunch are looking like making us the only country looking at stagflation and that’s after a lost decade already.
Remember that both Boris and Rishi had US passports suggesting that they had a place to escape to if things got really bad.
Any alternative is better.
Jokes on them, I’m not having kids.
Fuck that. I refuse to let my kids inherit debt. How about we just impose rental tariffs and charge a larger tax on second homes? Stop noshing the landlords already.
In debt because 30 years ago, your parents bought a house? That is insane.
If this shit keeps going how it’s going I’m just going to murder a bunch of toffs and off myself by the age of 50. Fuck contributing to this bullshit.