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Desperate FHBs with no deposit are taking out "parent assist" loans to get onto the property ladder; Lender BlueBay rolled out “parent assist” loans last year, allowing buyers to borrow 20% deposit from parents
Topic Started: 29 Jun 2015, 10:11 AM (5,303 Views)
Shadow
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Evil Mouzealot Specufestor

ThePauk
30 Jun 2015, 12:11 AM
Can you prove that the majority rented in the USA or the UK up until the 20th century?
Peter provided data for the USA. The chart below is for the UK. You've read OliverTwist, right?

Posted Image
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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peter fraser
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Shadow
30 Jun 2015, 08:06 AM
Peter provided data for the USA. The chart below is for the UK. You've read OliverTwist, right?

Posted Image
Thanks for that shadow.
Paul obviously doesn't want to be confronted with his own lack of general knowledge about housing and it's social impact.

I hate to say it but black panther has a point with his transmutation theme, as banks tighten their lending criteria, then only the wealthy can get home loans thus restricting the less wealthy (commonly known as battlers) from buying their own home.

It's a balancing act. Banks should lend to the majority who can and will repay loans even if that means writing some poor loans from time to time. But in the present climate of austerity and the enforcement of perhaps over tight regulations, the bulk of the property ownership will flow to those who can most easily afford it rather than fulfilling a social obligation by taking a slightly higher risk.
Any expressed market opinion is my own and is not to be taken as financial advice
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ThePauk
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peter fraser
30 Jun 2015, 12:39 PM
Thanks for that shadow.
Paul obviously doesn't want to be confronted with his own lack of general knowledge about housing and it's social impact.

I hate to say it but black panther has a point with his transmutation theme, as banks tighten their lending criteria, then only the wealthy can get home loans thus restricting the less wealthy (commonly known as battlers) from buying their own home.

It's a balancing act. Banks should lend to the majority who can and will repay loans even if that means writing some poor loans from time to time. But in the present climate of austerity and the enforcement of perhaps over tight regulations, the bulk of the property ownership will flow to those who can most easily afford it rather than fulfilling a social obligation by taking a slightly higher risk.
What the? Shads chart is the 20th century. Your claim was that before the 20th Century the majority rented and during the 20tth century.
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Shadow
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ThePauk
30 Jun 2015, 12:51 PM
What the? Shads chart is the 20th century. Your claim was that before the 20th Century the majority rented and during the 20tth century.
Surely you can extrapolate the trend line back. Or do you think home-ownership shoots back up to 50%+ if you extrapolate backwards to the previous century? :re:

When was Oliver Twist set? Did the common man own their own house in those days?

The common man would have considered himself lucky to even afford rent back then. Many ended up in the workhouse...

http://www.dailymail.co.uk/news/article-1369746/Dickens-darent-tell-truth-real-Oliver-Twist-workhouses.html
Edited by Shadow, 30 Jun 2015, 12:58 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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peter fraser
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ThePauk
30 Jun 2015, 12:51 PM
What the? Shads chart is the 20th century. Your claim was that before the 20th Century the majority rented and during the 20tth century.
What I said was -"It was only in the 20th Century as credit became available to the man in the street that the common man could buy his own house. Before that people were lifetime tenants."


If you had read my earlier post where I gave you the data for the USA in the late 19th Century then perhaps you would understand.

Any expressed market opinion is my own and is not to be taken as financial advice
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Shadow
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Evil Mouzealot Specufestor

http://www.localhistories.org/homes.html

'In 1900 about 90% of the population rented their home. However home ownership became more common during the 20th century. By 1939 about 27% of the population owned their own house.'

1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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ThePauk
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Shadow
30 Jun 2015, 01:03 PM
http://www.localhistories.org/homes.html

'In 1900 about 90% of the population rented their home. However home ownership became more common during the 20th century. By 1939 about 27% of the population owned their own house.'

Yes, the 20th century dipshit.

Now the claim is that from 1AD to 1900AD the majority rented, right?
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peter fraser
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ThePauk
30 Jun 2015, 01:06 PM
Yes, the 20th century dipshit.

Now the claim is that from 1AD to 1900AD the majority rented, right?
I find it hard to believe that anyone can be this dumb.

Is this an act you put on for your own amusement?
Any expressed market opinion is my own and is not to be taken as financial advice
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Shadow
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ThePauk
30 Jun 2015, 01:06 PM
Yes, the 20th century dipshit.

Now the claim is that from 1AD to 1900AD the majority rented, right?
Why the anger?

1900 is at the very start of the 20th century, and the home ownership rate back then was 10%.

It gradually rose from there and eventually by the mid 1900s most people owned their own home, in line with credit becoming available for the masses to buy with.

I'm not sure why this fact makes you so mad?
Edited by Shadow, 30 Jun 2015, 01:12 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Terry
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Shadow
30 Jun 2015, 01:12 PM
Why the anger?

1900 is at the very start of the 20th century, and the home ownership rate back then was 10%.

It gradually rose from there and eventually by the mid 1900s most people owned their own home, in line with credit becoming available for the masses to buy with.

I'm not sure why this fact makes you so mad?
Suburbia is a post-WWII phenomenon. No doubt about it.
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