How do we fix this? (Really!)

hurlsey · 02-02-2015 12:47am #1

I'm talking about the housing crisis, which has several levels,
1) those in NE,
2) those in NE in arrears
3) those not in NE in arrears
4) BTL who are in arrears
5) massively over inflated rental market

Personally I think this has to be dealt with as a social issue by government as if left to the banks, who's remit is to be profitable, will result, once house prices guarantee sale, will result in repossession and more homelessness which again becomes a government problem!

1) Those in NE
Well if the debt is serviceable it's serviceable(it's regrettable that individuals/families may want to move however if you can afford your mortgage but you can't afford to sell I don't think much can be done)

2)&3)
If you are in NE and arrears I don't see repossession as a viable option, the bank won't recover it's debt so surely restructuring the debt(write down) is a better option? If they repossess they debt stays on their books till house prices increase enough to clear it!!

If your not in NE and are in arrears then this is one of our biggest problem areas a bank could repossess with a view to recovering it's loan, however now it becomes a social problem

4)BTL in arrears, honestly I believe these should be repossessed! The property could be offered to the tenant? Or the tenant could be allowed to stay with the bank as LL?

5) this is something the government really needs to deal with urgently, the Minister for the Environment has already stated they do not intend to regulate! I believe they do!! If people can't buy and they can't rent it then becomes a social problem that again the government has to deal with!!

Another property bubble is the last thing most of us want to see, I think the CBs new proposals have dealt with one side of this however I think government now needs to handle their end!!

wretcheddomain · 02-02-2015 12:50am

Where's facekicker when you need him?

Liamalone · 02-02-2015 12:54am

13mil spanner fixes most things

Insect Overlord · 02-02-2015 12:55am

Duct tape. Or WD40. One of those usually does the trick.

durtybit · 02-02-2015 12:57am

Just install a new flux capacitor

Sheep Lover · 02-02-2015 12:59am

Beastality

Lots of it

Melisandre121 · 02-02-2015 1:01am

WE PUT THE BRICK ON THE ACCELERATOR.

djerk · 02-02-2015 1:01am

I dont know why, but for the first time ever while reading a post on boards.. I actually heard a cork accent and the sound of a judges hammer (for punctuation ofc).