Originally posted by ChimpMaster
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Mortgage holidays extended for up to six months
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Last edited by BlueSharp; 3 November 2020, 13:38.Make Mercia Great Again! -
Originally posted by BlueSharp View PostDefaulting on a mortgage or even bankruptcy/IVA would not make you homeless either that is a lengthy process that the courts would take mitigating factors into account such as children.
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It makes no sense propping up the system we knew hoping it'll return. Money down the drain."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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"I can't pay my mortgage"
"Sell your house, in 6 months you'll be free of the mortgage"
Great logic there. Of course, moving to a cheaper home when you are unemployed is impossible as you won't get a new mortgage. Your best bet is to stay in your home if at all possible. Banks do NOT like defaulting either, they would rather avoid it.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by BlueSharp View PostI already alluded to the answer but raise taxes and make it clear that it's not a free hand out the from the next generation but it will be paid back by ours. Inheritance tax/capital gains tax hike would be a start.
Originally posted by BlueSharp View PostChange the financial system so QE is the norm not borrowing from future generations for these bailout scenario. Even better regulation of industry so no one is to big to fail.
Originally posted by BlueSharp View PostFund a proper welfare state through tax increases.
Defaulting on a mortgage or even bankruptcy/IVA would not make you homeless either that is a lengthy process that the courts would take mitigating factors into account such as children.
What's the "correct" tax rate? If there's a decent Brexit deal with some free movement, do you think those who are privileged enough will stick around or shop around for a new domicile? What slice of the population do you think will have to stick around and suffer, I say those on low income, probably the exact people you think these measures will help.
Originally posted by BlueSharp View PostAlso there is a mortgage/debt holiday during this time to stop that happening to stop the IVA/Bankruptcies occurring. When that stops I hope things are ok but I suspect that bailouts will still be needed. How those bailouts are funded is a big concern.Last edited by TheGreenBastard; 3 November 2020, 13:45.Comment
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Originally posted by scooterscot View PostTotally. There's plenty cheaper areas of the country people can move to. Already in America people are doing the same thing as office working requirements is relaxed.
It makes no sense propping up the system we knew hoping it'll return. Money down the drain.
They're moving from SF because they have hefty FANG remote roles allowing them the privilege to invade quaint areas and destroy it with their soy lattes.
As someone else has said, if you're on furlough you cannot get a mortgage, you cannot downgrade, you're essentially in financial purgatory.
Maybe you should start petitioning your local German constituency to stop all furlough payments and mortgage holidays, money down the drain after all.Comment
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Originally posted by TheGreenBastard View PostSo you agree with the mechanism being used right now, just not how it's financed?
QE has been a useful tool, are you suggesting the UK end its use in isolation? The opposite, why borrow when you can create?.
Who finances the hundreds of thousands of prolonged court cases? The money spent on this won't leave much for tax or starving kids. Try reading the whole comment before posting, I have no issues with debt holiday. I have a problem with borrowing to fund zombie companies and keeping house asset prices artificially high.
What's the "correct" tax rate? If there's a decent Brexit deal with some free movement, do you think those who are privileged enough will stick around or shop around for a new domicile? What slice of the population do you think will have to stick around and suffer, I say those on low income, probably the exact people you think these measures will help.
The correct rate is where tax take is greater than spend.
So you'd advise no debt holidays. Who do you think this will effect, people like me with multiple income streams including BTL, or just the average family trying to survive and pay their mortgage? This is a serious question. See above
The real problem with QE is it does not increase demand or economic activity only the supply of money. How do you grow an economy in a post covid world? Keep paying furlough/universal income funded by QE? Personally I would like to see universal income in a post covid world.Last edited by BlueSharp; 3 November 2020, 14:06.Make Mercia Great Again!Comment
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Originally posted by scooterscot View PostAnd you're levered up to the eye-balls before a major deflation event. Quality stuff.
Remember how you said the FTSE 100 would never reach 4500 in a million years?
Yet again you prove your ignorance. I literally in this very thread told you I wasn't leveraged anywhere near to uncomfortable levels. In fact, one of the options in my near-term business plan is to pay off all mortgages, but that would be illogical at a time when I would rather raise funds to invest, as opportunities present over the next couple of years.
And I didn't say "the FTSE 100 would never reach 4500 in a million years". Your puny brain must be fried from all the fake news that leaks out of your backend systems. 4,500 still won't happen though. I guess you must be investing in plenty of new underwear, judging by today's market moves.
I advised you before - stop praying for the worst, because the worst will hit you harder than you think. It's like war: no one will come out of this unscathed.Comment
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Originally posted by BlueSharp View PostThe real problem with QE is it does not increase demand or economic activity only the supply of money. How do you grow an economy in a post covid world? Keep paying furlough/universal income funded by QE? Personally I would like to see universal income in a post covid world.
The HMG no longer needs a productive UK, they just need consumers reliant on borrowing and being permanently indebted."A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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Originally posted by vetran View Postwhat you have on your BTLs!His heart is in the right place - shame we can't say the same about his brain...Comment
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Originally posted by BlueSharp View PostSpoken like a true boomer. I'm sure the next generation would prefer cheaper housing, a stock market that has decent price to earning ratio and not a massive amount of tax being spent on servicing public debt to keep those two items artificially high.
Not even close fella. My parents are though, if that helps your argumentI am what I drink, and I'm a bitter manComment
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