40 year mortgages, a great cheap way to keep the people compliant

[Mortblanc]

First of all, one does not qualify for a mortgage if on minimum wage or if your salary will not cover the payments, taxes and fees, which are included in the payment in most cases. If one is 25 years old and expects to remain on minimum wage with no chance for advancement then that person should not and will not qualify for a home loan and will rent for the rest of their life, paying for some other persons' property.

If you are not making enough to cover the expenses and qualify for a mortgage on the terms you want then it is best to get back into the training pool and make your way to a better paying position.

If you do not want to make the effort to work more hours, go back to school, move to where you have better prospects quit your bitching and sit in your counsel flat and monitor all the survival forums all day while whining that one can not get ahead, or cursing the back alleys looking in skips for pallets and other peoples cast offs.

The "average person" does not sit on a 40 year note for their house and pay three times the price of the home in interest. They use that set of terms to get into the house and after 4-5 years they use the built up equity in the property to renegotiate the note down to a 15 or 20 year note with payments actually lower then the 40 year note. Alternately, they sell the home and refinance into a larger and better house after establishing their credit worthiness. I believe the average life of a home note in GB is about 7 years before the property is sold for an upgrade or the note refinanced.

That loan life indicates that there is much upward mobility in the housing market, people moving from one place to another to advance in their careers, and that there is a healthy supply of first time buyers looking for starter homes.

Banks and mortgage companies exist to make a profit by filling a need. They have not one speck of interest in controlling the population and keeping the plebs in line. Rather than help establish the control of Management over the Workers, they actually hope you increase your income, move into a better job situation and remain upwardly mobile so they can sell you a new mortgage in a few years.

Someone owns the property where you live. YOU are paying for that property, whether you own it or not, either in rent or increased taxes and the automatic inflation which taxes bring.

One mans "bedroom tax" is paying for another man's council flat. If I own a house and rent to you I am charging you the "bedroom tax" and all other fees as part of the rent. You are escaping nothing. You own nothing and you are still paying for some chav to live free in a provided flat.

The real focus should be that only an "average person" who has owned property can understand what I am saying or has been through the process and knows how it works.