you're totally missing the point
you're still obsessing about "value" from a financial sense

It's somewhere to fucking live. That is what its value it. It's not something to make money on. People wanting property to make money on it is one of the major reasons the world is economically fucked into a cocked hat. IMO you shouldn't be allowed to treat something that is a basic requirement for humanity (housing) as an "investment"
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 15 Aug 2013, 12:32, 1 reply, 12 years ago)

did you miss this?
if you're buying for yourself, you have to love it, and you have to see it as investing in your home life, not a way to make cash

( rachelswipe "i would smile if she died". A+., Thu 15 Aug 2013, 12:19, Delete, Edit, Reply, I like this!)

we are saying the same thing! however, there is no way you can stop it.
( rachelswipe with a fork, Thu 15 Aug 2013, 12:35, Reply)

Yes, but you then went on to say:
if you're investing for cash, you have to know what you are doing. otherwise you might be lucky, you might not.

Which is the direct opposite of what TMB said.
(Bazongaloid, Thu 15 Aug 2013, 12:36, Reply)

so, what will you do with any profit on your house?
i'm assuming you won't keep it, based on how wrong that would be?
( rachelswipe with a fork, Thu 15 Aug 2013, 12:44, Reply)

You're missing the whole point here by focusing on individuals.
The problem is not that house prices rise a bit over time in line with inflation, it's that house prices are at the stage where they are unaffordable.

If all house prices fell, then I can still sell my house and buy another one somewhere else with no real difference (assuming i'm not in negative equity).
(Bazongaloid, Thu 15 Aug 2013, 12:49, Reply)

yeah, but you think making profits on houses is BAD
so come on, what will you do with the profits?
( rachelswipe with a fork, Thu 15 Aug 2013, 12:53, Reply)

yes you can.
Massive taxation on more than one property.

and, no, I didn't miss that. you said "i've got several friends with 100% mortgages (or 105% in one case) who are now in negative equity and totally fucked. although i guess if you buy in london, you're probably ok. i thought my friends were mental for getting a 105% mortgage in streatham, but they're now selling it for an £80k profit."

You're buying to live in. How much you make or whether you are in negative equity right now are not relevant if your concern is its value as a home.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 15 Aug 2013, 12:38, Reply)

so you'd stifle all investment in property?

( rachelswipe with a fork, Thu 15 Aug 2013, 12:43, Reply)

why not?
I'd rather not go that far, but people are cunts. If it's the only way to prevent this idiotic overvaluation of property (which, let's not forget, has taken down the world's economy once already and will do so again) then, let's do it.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 15 Aug 2013, 12:48, Reply)

although massive taxation on buy to let properties wouldn't stifle investment
it would just level things out a bit.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 15 Aug 2013, 12:50, Reply)

so you stop property investment in the uk
and all the money that is currently being spent in the uk is diverted to other countries, a number of builders and agents and surveyors and conveyancers etc are made redundant, ok, with you so far.

and then what happens to people whose mortgages are too high? fuck 'em?
( rachelswipe with a fork, Thu 15 Aug 2013, 12:51, Reply)

Yep. fuck em.
They've been fucking the rest of us for decades, sweetie.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 15 Aug 2013, 12:52, Reply)

but then they'd be unemployed
and on the dole. how would that help the economy, rather than them being employed and paying tax, spending money etc?
( rachelswipe with a fork, Thu 15 Aug 2013, 12:56, Reply)

You say this like it's a bad thing.
But this entire discussion has been about how investing in houses is a bad thing because it has completely fucked our economy. Can you really not see that?
(Bazongaloid, Thu 15 Aug 2013, 12:50, Reply)

of course i can
i agree with some of what you are saying. and i am guilty of winding you up a bit, because i do love a good leftie froth. but you are far too black and white about it. there are always some benefits to investment. they might not benefit the people you would like, though.
( rachelswipe with a fork, Thu 15 Aug 2013, 12:52, Reply)