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Hartford to build 350 houses on greenfield


Noseyparker2090
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1 hour ago, Ramseyboi said:

Lols.  You don’t buy a house in the 80s or 90s then?  Ours was over half.

Ah, the late 80s/early 90s, those glory days of repossessions left, right and centre.

These days you won't pass the bank's lending criteria and stress testing on those margins. We're in the process of buying a place and we only just passed with HSBC because of childcare costs, and we were putting in £120k deposit and pull in £80k a year between us.

Edited by Ringy Rose
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I think the model of funding and attitude has to change as people of my and my parents age are part of some of the richest generations that there  have been.  I believe rather than hang on to that wealth to be passed on when I pass away I am of the view that we have to look to pass some of it on earlier to help our our children, grand children etc.

I have had a decent income for much of my life as have my parents. Having bought my first house nearly 30 years ago and lived in my current one for roughly 20 years, all be it with a couple of extensions added my mortgage has long been repaid as have my parents.  Hopefully when my parents pass away, which hopefully will be a while yet, I will be retired or near retired myself, financially secure and not be reliant on them leaving me anything. 

You cannot take it with you so provided we have enough to give us a comfortable retirement and pay for a decent nursing home, which I am more than happy to pay for rather than insist the state pay for, we will be happy so why hang on to every thing until we kick the bucket. Some might as well go to kids or grandkids when they are most in need not when they are middle aged.

I appreciate that not everybody is in a similar position but I do think that going forward older generations are going to have to see helping out younger generations as the the norm. 

We should also remember that owning you own property ladder has only recently become the norm. In the UK at the end of the 1st world war only a quarter of houses were owner occupied and it was only in the 70s that it passed 50%.

When I was young I wanted to rent. Maintenance etc was not my problem and I was free to move if I chose. Where I lived was my home and it still is. But many now appear to view it as being an investment. I don't know how we do it but I think that part of the answer to the property market is having a well regulated rental sector where rents are controlled so people are happy to live in rented accommodation. We also have to stop seeing a where we live as an investment and believing that rising house prices are good.  

Finally I think that the idea that previously it was easy to afford your own property is airbrushing history a bit. There was a period when banks offered near 100% mortgages but I remember my parents scrimping and saving to pay the mortgage or agonising if they could afford to move when my father's job got moved. I had to borrow money to pay my first deposit from relatives and worry about if money lasting the month. In those days with high interest most of my money went on paying for the house and nights out were a luxury and there was no way I could have afforded a mobile phone, satellite TV etc   

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5 minutes ago, finlo said:

Someone somewhere is getting very fat on the back of all of this.

Yes, Dandara and all the other developers. The cost of building a house hasn't risen as fast as the cost of buying one. The developers Persimmon across are pulling in £1bn profits, it's insane.

Nobody else benefits from this mad property inflation, your asset might be worth £50k more but everything else also costs £50k more.

The Bank of England are making noises about rates going up, if they even go up by 1% a lot of people will suddenly be overstretched. 

The problem with the rental market is there's no rights for renters. It's even less regulated here than England, which is quite the achievement. And not so long ago we had the lovely sight of the landlords' association here actively campaigning against any sort of legal obligations being imposed on them because reasons.

Edited by Ringy Rose
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2 minutes ago, Ringy Rose said:

Yes, Dandara and all the other developers. The cost of building a house hasn't risen as fast as the cost of buying one. The developers Persimmon across are pulling in £1bn profits, it's insane.

Nobody else benefits from this mad property inflation, your asset might be worth £50k more but everything else also costs £50k more.

The Bank of England are making noises about rates going up, if they even go up by 1% a lot of people will suddenly be overstretched. 

I'm pretty sure the situation is being "engineered"

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14 minutes ago, Lost Login said:

I don't know how we do it but I think that part of the answer to the property market is having a well regulated rental sector

It's quite easy to regulate the rental sector, it's just the appetite isn't there.

It's a shame as a functioning rental market is important. When we moved here we rented here and rented out our place across, so we were both tenants and landlords. And I'll tell you what, the obligations on us as landlords across- gas and electric safety, protected deposits, and so on- were more than the protections we got here as tenants. Weaker rights than in England, for crying out loud, and people wonder why nobody wants to rent.

Our landlord's great and he has been since day one, which makes you wonder why the landlords' association here were so vocal against putting in basic safety standards.

Edited by Ringy Rose
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Rosie is spot on there have been rumblings for some time regarding rising interest rates and the last article I have read the suggestion was 6%, hopefully this will not happen but if it does there will be carnage especially for the buy to let brigade who rely on full occupancy and rents paid on time to service the mortgage on the property.

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16 hours ago, Ramseyboi said:

the whining from a completely entitled generation is becoming tiresome.

12 hours ago, Ramseyboi said:

Absolutely doable as loads of people do it.  People just need to reign in their expectations.  300k house. Two new shiny cars. Holidays. Our every weekend. Takeaways. Latest mobiles. sky. Fibre etc etc.

There was someone 25ish on here a month or so ago moaning about the price of property, couldn't afford etc. 

Turns out he had a £20k car!

I earn reasonable money, in my 40s and a car nerd.  I still don't own a £20k car! 

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18 minutes ago, The Phantom said:

There was someone 25ish on here a month or so ago moaning about the price of property, couldn't afford etc. 

Turns out he had a £20k car!

I earn reasonable money, in my 40s and a car nerd.  I still don't own a £20k car! 

but do you want a 20k car just to see the dings left by the grannies in supermarket carparks ?

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28 minutes ago, The Phantom said:

There was someone 25ish on here a month or so ago moaning about the price of property, couldn't afford etc. 

Turns out he had a £20k car!

I earn reasonable money, in my 40s and a car nerd.  I still don't own a £20k car! 

If these greenies get their way, the only cars you will be able to purchase new are all electric and they cost you over £20k. Does anyone seriously expect everyone, especially in the social housing estates to be able to afford this and the infrastructure to operate is deluded. Same applies to owner occupiers. If you are comfortable with a detached home or home with a driveway then you could get the charging device. Petrol and Diesel vehicles will be banned new and used, and we can say goodbye to the motor home. Maybe if you have lots of money you could convert a VW camper van to electric. 

Edited by 2112
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5 minutes ago, WTF said:

but do you want a 20k car just to see the dings left by the grannies in supermarket carparks ?

Nope, pretty much why I don't own a £20k car.  That and general depreciation.  Still manage to get very specific niche classics below that price. 

Years ago I had a VW Corrado.  That had a pronounced ridge down the sides that was the perfect impact point for other people's doors.  Still got PTSD from Tescos with that car.... 

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