Oh Darling,

Its all David Bowie's fault apparently....

http://www.guardian.co.uk/music/2009...music-industry

[Mr Speirs]

[quote=SoulKiss;1744709][quote]

I agree with you about Shared ownership offered by developers it is an absolute con.

But there is scheme on the website called 'My Choice Home Buy' which is different to the new build home buy. Its a shared equity scheme rather than shared ownership. The company I may be using to do this are a non-profit organisation.

[SoulKiss]

[quote=Mr Speirs;1744728][quote=SoulKiss;1744709]

I agree with you about Shared ownership offered by developers it is an absolute con.

But there is scheme on the website called 'My Choice Home Buy' which is different to the new build home buy. Its a shared equity scheme rather than shared ownership. The company I may be using to do this are a non-profit organisation.

TBH I didnt go beyond the 1st page of the link you posted - didn't have time - and you just saved me that :P

The thing is its STILL a bad idea as all it does is help people buy over-valued properties.

NOT buying is hard, but its the only way that prices will come down to the reasonable prices they should be - which should be LESS than 3x the average annual wage as the average house price - possibly adjusted for region.

I keep seeing empty houses on my travels... I wonder if I can lay claim to them.

[SoulKiss]

Originally Posted by Grinch

I keep seeing empty houses on my travels... I wonder if I can lay claim to them.

Nope - tho its something that SHOULD be the case.

Look at the A406 North Circ - TfL own most of the empty/derelict houseing stock - bought as they came up for sale to allow for the road to be widened - then abandon them, instead of doing them up and making an income off them/keeping them from going to ruin

Stupid really.

[Mr Speirs]

[quote=SoulKiss;1744743][quote=Mr Speirs;1744728]

Originally Posted by SoulKiss

TBH I didnt go beyond the 1st page of the link you posted - didn't have time - and you just saved me that :P

The thing is its STILL a bad idea as all it does is help people buy over-valued properties.

NOT buying is hard, but its the only way that prices will come down to the reasonable prices they should be - which should be LESS than 3x the average annual wage as the average house price - possibly adjusted for region.

Yeah you are right properties are vastly overpriced and they do need to come down considerably which is something I have always maintained with my parents as they are convinced that buying was the best option.

My arguement is 10 years ago when my parents bought their house the set their budget at 100k which bought them a 4 bed detached home with garage.
Last year my sister and her fiance bought a 1 bed flat for £108k with a household income of half what my parents both earnt.
How is that possible? How with less than half the income was a 108k home in their budget??? A 40 year mortgage and my mum paying a quarter of the mortgage repayments!!

But this countrys economy is propped up by the over valuation of the housing market and unless industry and manufacturing reappears in the UK either houses are going to stay overpriced or country will collapse.

[SoulKiss]

[quote=Mr Speirs;1744765][quote=SoulKiss;1744743]

Originally Posted by Mr Speirs

Yeah you are right properties are vastly overpriced and they do need to come down considerably which is something I have always maintained with my parents as they are convinced that buying was the best option.

My arguement is 10 years ago when my parents bought their house the set their budget at 100k which bought them a 4 bed detached home with garage.
Last year my sister and her fiance bought a 1 bed flat for £108k with a household income of half what my parents both earnt.
How is that possible? How with less than half the income was a 108k home in their budget??? A 40 year mortgage and my mum paying a quarter of the mortgage repayments!!

But this countrys economy is propped up by the over valuation of the housing market and unless industry and manufacturing reappears in the UK either houses are going to stay overpriced or country will collapse.

The situation IS unsustainable.

What I would like to see is the government bail out those who are in mortgage trouble due to GENIUNE mistake/bad luck.

Get the FSA to do an audit of mortgage applications and check the amounts put in by people as their earnings ARE real figures.

Where they self-certified and lied, well thats fraud and they are on their own to face whatever happens to them - probably not worth taking legal action, but just leaving them to deal with the fallout would do.

Get the average house price down to something sensible and get people understanding that your house's value is not part of your personal wealth and then you may get somewhere with getting things back on track

[Mr Speirs]

[quote=SoulKiss;1744775][quote=Mr Speirs;1744765]

Originally Posted by SoulKiss

The situation IS unsustainable.

What I would like to see is the government bail out those who are in mortgage trouble due to GENIUNE mistake/bad luck.

Get the FSA to do an audit of mortgage applications and check the amounts put in by people as their earnings ARE real figures.

Where they self-certified and lied, well thats fraud and they are on their own to face whatever happens to them - probably not worth taking legal action, but just leaving them to deal with the fallout would do.

Get the average house price down to something sensible and get people understanding that your house's value is not part of your personal wealth and then you may get somewhere with getting things back on track

Absolutely. I mean if I be more than happy for the housing market to return to normal working conditions but for that to happen the country is going to lose a vast percentage of its value making the £ almost worthless in the global economy. Saying that foreign investment in industry and manfacturing would increase and the value of the UK would be back where it would belong but sod me it would be a hard decade wouldn't it?

Originally Posted by SoulKiss

Nope - tho its something that SHOULD be the case.

Look at the A406 North Circ - TfL own most of the empty/derelict houseing stock - bought as they came up for sale to allow for the road to be widened - then abandon them, instead of doing them up and making an income off them/keeping them from going to ruin

Stupid really.

Yep there are loads in Portsmouth that I see... and yet no real reason that I can see for them to be empty.

IMO, if you think houses are overpriced and and the market is stupid then the answer is simple, dont buy!

If you want to pay X amount for a house and you can afford it then buy.

Quite simple really. Its not necessary to own a house.

people are always going to complain about the houseing market as a large amount of people are either winning or losing.

Anyway, by the time all these economic problems are sorted the worlds oil will be running out, then its back to the dark ages, almost literally.