Catweazle Posted September 22, 2012 Report Share Posted September 22, 2012 s people get older and are forced to use the capital in their houses to live on the number of sales will increase dramatically but with younger buyers not being able to afford them them the only outcome is a crash. That's a problem, people seem to regard their home as a savings fund / pension plan but forget that they will still need somewhere to live and most houses aren't capable of providing an income whilst still housing them. I worried about the fact that my house in Kent was worth reasonable money solely because of its easy transport to London. If the economy crashed and there was no work in London then that valuable house becomes just another semi-detached on 1/8th acre, with the disadvantage of being in the middle of 2000 similar houses all full of unemployed former commuters and their kids. Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted September 22, 2012 Report Share Posted September 22, 2012 thats just life mate. no point twining about it you can only play the cards you were dealt That is a good excuse for a life of crime if you are destined to be at the bottom of the pile why bother just pinch it from people who have been given a better hand in life. Quote Link to comment Share on other sites More sharing options...
Vipa Posted September 22, 2012 Report Share Posted September 22, 2012 (edited) Article in todays Daily Mail "A new report has predicted that most homeowners will be mortgage free by 2015. The report from Hometrack said that with few younger buyers able to afford mortgages more than 50 per cent of homeowners will be older people owning their property outright by 2015. Many will have taken out their mortgages in the 1960s, 70s and 80s and have benefited from low interest rates to pay them off." As people get older and are forced to use the capital in their houses to live on the number of sales will increase dramatically but with younger buyers not being able to afford them them the only outcome is a crash. (In my defence I wasn't reading the Daily Mail I just get a summary of news headlines sent to my work e-mail) I can see the argument there and it would appear to be a valid concern, however, I think 'most houses owned mortgage free by 2015' is a little too soon... Up until 4/5 years ago houses were selling like sweeties and almost all were bought on a mortgage, so, yes... i can see this happening but the mortgage free bit is a little skewed! Edited September 22, 2012 by Vipa Quote Link to comment Share on other sites More sharing options...
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