Shouldn't come into it, where having a roof over your head is concerned.
Not in a civilised society, anyway.
Multinational forced to pay some tax
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Shouldn't come into it, where having a roof over your head is concerned.
Not in a civilised society, anyway.
There wouldn't be a problem if heinous taxes such as capital gains and inheritance were scrapped.
Are you advocating a system whereby house prices don't rise anywhere in the UK and/or that rises are perhaps limited to inflation? How would that be administered and policed?
You quoted me as using the word 'luck' ... I don't think I did
We were moved out of London (Battersea) in 1957, we had 'rooms' at an uncles house. Went to a brand new council flat will all mod cons, I was always shocked as a youngster vising my cousin in Chelsea, no bathroom, they used the 'public baths' once a week. Seems like a lifetime away, I suppose it was really.
Why ask me a question, and then answer it for me?
In answer to your question, no; if you'd read my posts, you'd already know that.
Build enough houses inc. social housing, and "the market" will sort it out.
At a very basic level.
The finer points of penalising vacant ownership etc, I'll leave for others to debate.
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when you said you wanted the US system, I assumed you had some knowledge of it. In many states it is possible to hand a property back to the lender if it's in negative equity and walk away. This is known as a short sale, the bank takes the risk on the property as it unlawful in many states to pursue the home owner for any difference if the property isn't covered by the mortgage.where did I say that?
You never want an actual debate, you just want the failed status quo in this country to be maintained.
homeowners want stability, is a long term fixed rate mortgage such a bad thing?
”All of which has increased calls for longer-term fixes, such as the 10 to 15-year fixes widely available in Germany, France, the Netherlands and Switzerland; or the 30-year fixes that have become standard in the US. But the willingness to fix, even for two years at today’s higher rates, has abated as borrowers wait for rates to continue falling. In the meantime, many households may opt for (interest rate) ‘tracker’ mortgages.”
”To attenuate interest rate risks, lenders could issue bonds with terms more closely matching their fixed-term mortgages, which is essentially what is done in Germany (on the ‘Pfandbrief’ market) and Switzerland, where highly regulated central mortgage bond issuers serve the two main banking groups. In the US, the 30-year fixed-rate mortgages qualify for securitisation in a market organised by Government Sponsored Agencies (GSAs) that are implicitly government-backed. They underpin the resulting Mortgage-Backed Securities (MBSs), which allow the approved originators to pass on the interest rate and prepayment risks to investors buying the bonds. In addition, the Federal Housing Association (FHA) guarantees home loans to low- and moderate-income borrowers, who must pay a mortgage insurance premium to qualify.”
I stand corrected re using the word luck, however within the context used, I stand by it, for a whole load of reasons I certainly wouldn't share on here.
And why shouldn't 'luck' come into it when referring to property. Say I buy a property in a run down area for £50k and 20 years later the place has been gentrified and my property is worth £400k. I'd class that as good fortune/luck.
And why shouldn't 'luck' come into it when referring to property. Say I buy a property in a run down area for £50k and 20 years later the place has been gentrified and my property is worth £400k. I'd class that as good fortune/luck.
Blame?
I have certainly commented that the lucky minority who received an unearned windfall were lucky.
And I point out that they are wrong to pretend that their good luck is the result of hard work and frugality
And they are wrong to pretend that young people today have the same opportunities.
Nonsense.
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Where will it end.
Lucky Pensioners given final salary pensions that they didn't contribute to an unearned windfall.
Lucky Low paid people given income support an unearned windfall.
Lucky NHS users given 10s of thousands in treatment an unearned windfall
Normally you'd be happy for poorer people to be given an unearned windfall.
I note that the 10% of workers who pay 60% of income tax can't benefit.
Jeez, this place gets tiresome sometimes with folk part quoting others to suit their own narrative. When I said this ...
There wouldn't be a problem if heinous taxes such as capital gains and inheritance were scrapped.
It was in reference/reply to this ...
But don't you realise that the system that is enabling you to make such a killing on your house is screwing over those you're leaving it to anyway?
My point being they wouldn't be screwed over if said taxes didn't exist.
No one will ever convince me it's right for people to be taxed on a property simply because it's appreciated in value to a certain level. Neither will I be convinced investments/savings should be taxed. It's disgusting. Person A p1sses all their money away over 40 years and leaves nothing. Person B is careful, they invest, they save. 'Thank you very much, we'll take a chunk of that now' says the government. To go where? Partly to people that rarely or never work and have no intention to.
Of course they would, tax or no tax.
Why?
Because they'll need all of that "windfall" to buy the house - with its artificially-inflated price - in the first place.
While the available housing stock is insufficient, the price will be reflected in the money available to buy one.
Scrap CGT and IT; the house prices will just rise even further.
Your £250k (after tax), that you were going to put towards a £500k house...................
..........is now ££500k, to put down on an £800k house....................
"Lucky" you.....................