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

[Steve]

Mort, you don't understand the UK market. Planning permission, required to build a house, is carefully regulated and results in sky high property prices. The typical UK house is built on 1/20th of an acre, an acre of farmland costs £7500, the house costs £50k to build, but the house will sell for £250,000 . The piece of paper that grants planning permission has added £200,000 ! This situation exists because the banks hold the deeds for mortgaged houses, if the regulations were relaxed to allow the building of the houses we need then the house prices would crash and the banks would become insolvent.

In the US, you might imagine a $200,000 mortgage would allow you to build a house with nearly $200,000 worth of materials and land in it, this is not the case in the UK.

By the way, I have never lived in a council house, I bought my first house at age 24. Sadly most 24 year olds now cannot do the same.

[Mortblanc]

And you think we have no regulations, fees or expenses over here, and that land is free?

One of the problems you guys do have is a defeatist attitude that promotes a feeling of persecution which you think no one else in the world faces and overcomes.

Every mortgage with fees and permits doubles the price of a build. It has been that way for my entire life anyway. Your 100k house will always cost 200k if carried to the full term of the mortgage.

[John]

NorthernRaider

RE: 40 year mortgages, a great cheap way to keep the people compliant
The American sub prime fiasco shows us the absolute worst aspects of controlled low wages but uncontrolled house prices, just reading that is is finally affecting Vancouver island now where even professionals cannot afford homes as rich Chinese drive up house prices, even in Eire entire communities of new homes lay empty because no one can afford them. But the UKs south east is the worst of the lot with an already established shortage of 3.2 million homes but 300,000 migrant families arriving each year who drive up rent and house prices and pull down wages. This is not a GOOD BAD Tory / Labour thing this is a major system wide cultural disaster compounded by ALL of the main parties. I've just read of qualified doctors being unable to afford homes in the Greater London area. This is a worst case prepping scenario in the making.

NR You could not have put it better.
It not a question of which party for they are all basically the same. They are the elite and they rule. How much longer before the people wake up to their schemes, their lies and open their eyes.
The whole way of life as we have it now is totally unsustainable and must one day soon crash. Once that happens we will never get it back.
One problem may be that the elite think they will be OK and will survive, but they will not for money will mean nothing.
John

[Steve]

(12 October 2015, 12:26)John Wrote: .
One problem may be that the elite think they will be OK and will survive, but they will not for money will mean nothing

Dream on fella, they'll be long gone.

"Hedge fund managers are preparing getaways by buying airstrips and farms in remote areas, former hedge fund partner tells Davos during session on inequality....."


http://www.theguardian.com/public-leader...davos-2015

[NorthernRaider]

South island NZ, Inland and NW territories in Oz, Bavaria, Austria, Central US all have super rich folks buying remote isolated off grid locations, some like Virgins Richard Branson are buying small islands and attolls.. The slightly lesser rich are moving into gated communities others are building iceberg homes.

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Remember my reports about the rich and famous building Iceberg houses in places like London (Huge underground self contained off grid extensions with hidden entrances, air filters, water and food storage and security) , and Gated Communities ( Executive self contained mini estates with high security fences , off grid power, security etc)

Well chaps it appears the rich and powerful have been learning from the Preppers and Survivalists and started getting themselves remote, off grid, secure, long term BUG OUT LOCATIONS.

C,mon folks how much more evidence is needed to show us that those in the know and those with funds ARE getting ready for some very unpleasant times ahead.

http://www.dailymail.co.uk/news/art...Ze...tdown.html

http://www.nzherald.co.nz/business/news/...d=11376487

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Whoops first link would not open, try again
http://www.dailymail.co.uk/news/article-...tdown.html

[MaryN]

Let's face it, NR, we'd all hike out to somewhere remote if we had the funds. I'd be off like a shot. I don't doubt that those folks with money are hedging their bets.

[NorthernRaider]

Remote and temperate or remote and warm, but not just remote and not remote wet and windy, some place with 4 seasons

[MaryN]

Not too picky about the location then?

[NorthernRaider]

Easy pleased am I paduwan

[bigpaul]

(12 October 2015, 20:06)NorthernRaider Wrote: not remote wet and windy,

that rules out the south west then!!!