House prices rose 7.3% this year, average now almost £250k

[HACO]

It seems like you can have it both ways so long as both ways benefit him.

If your a pensioner or a landlord which he isn't then you cannot have it at all.

Do i really need to dig out the post where you were acting like the good Samaritan. Where you said house prices need to come down for future generations sake. It was all about the kids.

Later it was revealed that actually your looking to buy your first home so it was all a facade. You were looking for your own interests. But it's okay for you to do that but not others for some reason.

Did you not say landlords should go out and work for icing rather than sitting around doing nothing?

This obsession with me and you divining my motives is just absurd, why do you even care about any of this? I'm in shock right now over this obsession of yours with me

If you really love to dig up my posts, I can also give you my usernames in other forums, there are some that I joined when I was 13 and I may have said a lot there about various things. Please let me know if those are of interest.

Like seriously, WTF.

What do crypto miners do? What essential service are they running? Yet they sit around doing nothing and profiting from others. At least landlords are providing a roof over people's heads. What are miners providing? Virtual coins. Okay that's allowed for some reason but not providing roof over people's heads.

They do nothing and I would actually support governments going after them. Despite having some interest in it 7 years ago, I'm not a crypto miner either, haven't done that for many many years.

I also made topics about watercooling, horseriding, trading in the stock market, spread betting, football, web design, and more. I asked for advice about buying GPUs when I was a student back in 2010. Would you love to know more?

Again my friend, whatever this obsession of yours comes from, I do hope you're able to move on from it.

 

[HACO]

If there were a large hypothetical correction in housing prices who would be bailing out the banks that have lent all the mortgage debt then? You can't have millions of households in negative equity and then subsequently unable to get low rates.

People borrowed money to buy an asset that went down in value, tough luck. Let them deal with their own problems. They should pull themselves up by their bootstraps. Do you think the government should guarantee returns on investments people make on leverage? As for banks, they lent money to people who made investments that didn't pay off, let them fail. Then bail out the bank's customers (like some countries did in the GFC) rather than the banks themselves.

It's funny people who are all about putting yourself up and love the free market somehow expect the government to turn up and save their investments.

If housing is an investment it should be allowed to go down and fail. If it's not an investment it should not be profitable to own/hoard houses. Simple as that. You can't capitalise the gains and socialise the losses.

 

[HACO]

Serious question: how many more yearly 7% prices rises (or more) can we take?

I mean we can price all but the top 5% out of being FTB if we want. Just let the foreign owners have it all. And the BTL landlords.

Let them have all the housing. Make every future generation a rental slave.

Why not, eh? Sounds like fun. Let's have peasants, serfs and robber barons again. Let's go feudal. **** the serfs.

If we see gains in the next 10 years similar to those in the last 10 years, the median home will be £425k and average FTB age will go above 50 years old.

Another 10 years of that and the only path to home ownership becomes inheritance. A return to feudalism.

E: And in case you think I'm joking... why not? We've let foreign owners buy all our infrastructure. We let foreign train companies subsidise their domestic market by bleeding UK customers dry. We've let foreign state-owned energy companies take over UK suppliers. It's the raw capitalism everybody loves.

It's already happening. Any country that has a sovereign wealth fund heavily invests in the UK residential property market.

Our commuters subsidise train tickets of other countries.
Our bill payers subsidise utility bills of other countries.
Our renters subsidise housing/welfare of other countries.

 

[HACO]

Well why not for one moment step back and think about all the wealth Britain and it's people stole to enrich themselves back in the day from foreigners.

It wasn't even that long ago that Britain stole £3.5 trillion from India and enslaved it's people some of which to this very day are still enslaved on tea plantations as well as massacring many innocent lives.

Now you are complaining about foreign investors profiting from British people legally.

Deal with it. That's your motto when it comes to taxation and changes in legislation for landlords. Yet you cannot deal with the truth.

So we colonised India long ago so France, Germany and Italy should run our railways and energy grids now now? Not sure I follow your logic.

I'd like to see how you would deal with a foreigner coming over here and saying you know what you can no longer live here. You need to go live in Newcastle but you have to move right now and be gone by tomorrow.

That's what happened to my grandad in the partition. The British ruled where he lived was now to belong to the Muslims and be called Pakistan. His family would now be forced to emigrate to India under extremely dangerous conditions where many were robbed and murdered. My grandad who's still alive today was a child when this happened and he still remembers it.

His family (my family) had their land, their home taken from them by the British.

But please do continue your sob story about how it's so much harder for you and my grandad had it so easy.

The country and environment I was born in is not that different to what you describe about your grandfather. I came here from thousands of miles away, at the age of 20 with £350 in cash and a university scholarship with very basic understanding of English.

I also don't believe I have compared my personal life with your grandad's, I obviously don't know him and would not make assumptions (that's what you do). Looks like he's been through a lot and I wish him nothing but the best.