news & politics:discussion

[Neil]

Just now, Skip997 said:

Doesn't the mortgage depend on the current value of the house? Therefore mortgages would go down.

in bristol at the moment, mortgages are £50k more than the value of the house, paying £50k over asking price is the only way to buy one.

[Skip997]

1 minute ago, Neil said:

too late for any sensible market correction. houses are the last safe bet for an investment. too many have their whole future invested in houses.

Wow we've gone even more wrong than even I thought

 

[Neil]

1 minute ago, Ozanne said:

Increase supply would help but the Tories main voters don’t want the disruption of construction and more people in their area. 

theres no land eft for building on, what's left is on floodplanes.

[Neil]

Just now, Skip997 said:

Wow we've gone even more wrong than even I thought

 

who do you think the buy to let landlords are, mostly pensioners wanting to see their pension savings increase to fund their retirement.

[steviewevie]

if govt found a way for young people to be able to buy a property they will mop up a whole load of future voters.

We need more houses, stop with the nimby so called greenbelt thing...build...affordable private housing and council housing...build build build....

[steviewevie]

they can start with building some on all the fucking golf courses.

[Skip997]

1 minute ago, steviewevie said:

if govt found a way for young people to be able to buy a property they will mop up a whole load of future voters.

We need more houses, stop with the nimby so called greenbelt thing...build...affordable private housing and council housing...build build build....

We need greenbelt for many reasons, health, environment etc. surely there's plenty of brownfield sites and old abandoned buildings that can be converted to flats - happens all the time round here but always for students

2 minutes ago, steviewevie said:

they can start with building some on all the fucking golf courses.

I like this idea

[Neil]

4 minutes ago, steviewevie said:

if govt found a way for young people to be able to buy a property they will mop up a whole load of future voters.

We need more houses, stop with the nimby so called greenbelt thing...build...affordable private housing and council housing...build build build....

theres bno such thing as affordable private housing costs too much to build a house people want decent wages.

[steviewevie]

3 minutes ago, Neil said:

theres bno such thing as affordable private housing costs too much to build a house people want decent wages.

Subsidies.

And loads of greenbelt is shittygreenybrownyscrublandwherepeoplejustdumpshitbelt

[Neil]

2 minutes ago, steviewevie said:

Subsidies.

And loads of greenbelt is shittygreenybrownyscrublandwherepeoplejustdumpshitbelt

its not been built on cos its shit land for building on.

[Guest]

4 minutes ago, Neil said:

theres no land eft for building on, what's left is on floodplanes.

I’m pretty sure there is plenty of land left to build on only circa 12% of U.K. land is built on. There’s plenty of space for more housing. 

[Neil]

4 minutes ago, Ozanne said:

I’m pretty sure there is plenty of land left to build on only circa 12% of U.K. land is built on. There’s plenty of space for more housing. 

the decent land for housing is already used. building more housing to cure the housing problems isn't going to happen.

[steviewevie]

bourgeois environmentalists

 

[Skip997]

9 minutes ago, steviewevie said:

bourgeois environmentalists

 

The more i read such nonsense the more i realise that very few people have any idea where we're heading. This summers heat waves, wild fires and flooding are just a tiny taste of what's to come if we don't sort our shit out very quickly.

Fracking is not viable in the UK and even if it were, guess what - it's produces a fossil fuel. We need to stop using fossil fuels about 2 decades ago.

 

[steviewevie]

7 minutes ago, Skip997 said:

The more i read such nonsense the more i realise that very few people have any idea where we're heading. This summers heat waves, wild fires and flooding are just a tiny taste of what's to come if we don't sort our shit out very quickly.

Fracking is not viable in the UK and even if it were, guess what - it's produces a fossil fuel. We need to stop using fossil fuels about 2 decades ago.

 

yeah, but you're just bourgeois.

[Guest]

51 minutes ago, Neil said:

the decent land for housing is already used. building more housing to cure the housing problems isn't going to happen.

We definitely aren’t under the Tories. One of many reasons we need them out. 

[Crazyfool01]

if only 

[Punksnotdead]

We should be doing something about all the empty properties in the UK before building more!

[Skip997]

2 minutes ago, Punksnotdead said:

We should be doing something about all the empty properties in the UK before building more!

Exactly.

Especially unoccupied second homes.

 

[steviewevie]

12 minutes ago, Punksnotdead said:

We should be doing something about all the empty properties in the UK before building more!

we need both.

We need new greener homes built on golf courses by the working class for the bourgeois to live in.

[Guest]

 

[Neil]

11 minutes ago, Punksnotdead said:

We should be doing something about all the empty properties in the UK before building more!

Problem is that converting older buildings is very energy inefficient for heating etc. 

[Skip997]

Just now, Neil said:

Problem is that converting older buildings is very energy inefficient for heating etc. 

True, taking everything into account it's usually more efficient to build.

[Guest]

 

[mattiloy]

3 hours ago, Skip997 said:

I understand nothing about economics, but hopefully this is true. House prices are absolutely disgusting ATM, as are rents.

Yeah so basically between the cost of living crisis and private debt levels, and the fact that you lot are at the top of a bubble, partially stimulated by everybody ploughing what they couldn’t spend during covid into property, the uk is well primed for a big downwards spiral in the property market.

Simply put, mortgages become unaffordable, more people look to sell, so supply outstrips demand, then less people want to buy as there is less confidence in the market, so demand goes down further and so on. Then you get your buy to letters with their heavily geared portfolios of shitty properties who are charging 700 quid a month for a 2 bed terrace in longsight, suddenly their loan costs go up, their tenants can’t pay the rent, they go under and that releases a load more supply. Likewise, interest rate hikes reduce already weakened demand, some businesses can go under, commercial property tenants leave, commercial property landlords go under. Knock on effects can be big!

As others have mentioned, all this ain’t so good if you go into negative equity, it’s also not good if you’re employed by a building company as with no demand for new properties, or unsold completed properties, these risk going under, ditto a supplier to a building company, or a cafe near a building site etc etc.

All this happened in 2008. Now i think the banks are stronger, but the economy seems weaker. So I’m not sure what happens next and don’t mean to overegg the doommonger spel, but I’d guess that you’re looking at all the growth in the uk property market from the last few years (20%?) falling away in the next year. It’s already started in other countries. Not sure why there is a lag in the uk 

Edited September 22, 2022 by mattiloy