If people are unable to pay their mortgages then yes there will be a lot of evictions.
No, don’t muddy the waters. You said that the large majority of people would fall into the category of having their home repossessed or having to sell. I don’t think you even believe that, it’s just scare-mongering and it’s not helpful.paulatky wrote: ↑Tue Apr 07, 2020 10:56 pmIf people are unable to pay their mortgages then yes there will be a lot of evictions.
Also many will struggle to pay the rent too so I can see evictions there too. Many people are already struggling and having to live on savings.
House prices fell 20-25% in 2008 and that was a bank credit problem . This time it will be consumer credit thats the problem so effect will be much deeper.
There is a difference between being a pessimist and a realist
Pessimist = Experienced optimist.
More people will be applying for housing benefit & more people will be going interest only on there mortgages for sure, will be a spike in evictions for sure, some landlords won't accept DHSS, it's a perfect brew for a recession & the working class people will feel the pinch when it bites.paulatky wrote: ↑Tue Apr 07, 2020 10:56 pmIf people are unable to pay their mortgages then yes there will be a lot of evictions.
Also many will struggle to pay the rent too so I can see evictions there too. Many people are already struggling and having to live on savings.
House prices fell 20-25% in 2008 and that was a bank credit problem . This time it will be consumer credit thats the problem so effect will be much deeper.
There is a difference between being a pessimist and a realist
Pessimist = Experienced optimist.
Hardly. What you are saying is that if someone was an optimist fifty or sixty years ago, experience would have taught them that they were wrong to be optimistic and (specifically financially) things have got worse?
Imposter M'lady!Alanstevensonsgloves wrote: ↑Tue Apr 07, 2020 10:44 pmBecause that's not Parker, that's Noel Gallagher!
Most people in their thirties refuse to believe what the 70's were like (I remember outside loos, no central heating, ice on the inside of windows, some people with tin baths in the kitchen, maybe 1 person on the street with a phone in the house and that had a lock on it) let alone the 50's - though there are isolated pockets of Burnley that don't seem much different when you pass them now
I remember those days well...you missed out the mice.Chester Perry wrote: ↑Tue Apr 07, 2020 11:32 pmMost people in their thirties refuse to believe what the 70's were like (I remember outside loos, no central heating, ice on the inside of windows, some people with tin baths in the kitchen, maybe 1 person on the street with a phone in the house and that had a lock on it) let alone the 50's - though there are isolated pockets of Burnley that don't seem much different when you pass them now
You cant do that forever if you have no money/less money coming in. People are being affected already. Its almost impossible to get through to your bank to arrange a payment holiday.
no one mentioned forever, it's for bridging the gap, a lot depends on how long the bridge is.
in Houston all major online supermarkets are a minimum of 5 days out when I last looked on Friday, not something I have done, yet.FactualFrank wrote: ↑Wed Apr 08, 2020 12:08 amJust managed to book a Tesco delivery for 3 weeks.
All slots were gone by... 12.03am!
For those who lose their jobs or have found another job it is going to be forever in some cases.KateR wrote: ↑Tue Apr 07, 2020 11:55 pmno one mentioned forever, it's for bridging the gap, a lot depends on how long the bridge is.
almost guaranteed if you stop paying your lender will get in touch
so is it more landlords that you think will lose the property due to none payment from a renter?
all just thoughts and for me, just far to early to be signaling mass panic regarding people losing homes, but do agree people should be at least thinking about the future because I think we've a while to go yet and we have to see how the world & Gov. come out of this.
Have you even tried to get through to a bank to arrange a payment holiday? Or are you just guessing, because the top ten mortgage lenders now allow you to arrange a payment holiday online.
It's an opinion and yes for some people it will change, however there has always been people who have lost a job and never got back to work along with those who never want to work. I will be an issue for many and wont be short term as in we will be back to normal in a couple of months yet I don't see it being noticeably different for most. Pubs will open along with all forms of entertainment and people will be going to football matches again, companies are strategizing along with governments in this regard, human nature will prevail and we will recover.
Jack Dorsey (the inventor of Twitter) has donated $1bn of his own money (28% of his wealth) to the Coronavirus crisis today.TVC15 wrote: ↑Tue Apr 07, 2020 10:31 pmAmazon vans seem busier than ever - the irony that the company that contributes so little in taxes seems to be making more money than ever during this crisis is not lost on me.
Even at times of crisis there are some who benefit - in the world we live in today a lot of these are the online retailers or even the big social media platforms with significant increases in traffic / users with so much of the world on lockdown.
I haven’t seen any headlines as yet about how these companies are contributing to the cause - hardly a surprise when you see how they treat their staff and avoid paying their fair share of taxes.
Yep - he's quoted as saying TVC15 was his "Delia Smith" where are you? moment.
I don't have the benefit of a crystal ball and anybody who can say they know what will happen with any certainty is definitely in cloud cuckoo land.paulatky wrote: ↑Tue Apr 07, 2020 10:37 pmCamp 3 will be the large majority as so many people will be out of work or taken a reduction in wages.
Also mortgages will be harder to come by
You are in cloud cuckoo land if you think house prices arent going to fall significantly.
Only time will tell whose right.
So will the majority of people have their houses repossessed or be forced to sell? Or are you going to admit that you made that up knowing full well that won't be the case?
Why the aggression? Predictions can be right or they can be wrong, but if they're wrong it doesn't make them a lie. And this prediction hasn't yet had the chance to be proved or disproved.
How is my post aggressive? I've asked a simple question which the poster is ignoring. How you choose to interpret my non-aggressive words is up to you.
Whether or not the poster spreads misinformation and fear, and whether or not you disagree with most of what he says, I see no reason to imagine that he doesn't believe what he says. You may well think he's wrong, but not that he's lying.Rileybobs wrote: ↑Thu Apr 09, 2020 10:58 amHow is my post aggressive? I've asked a simple question which the poster is ignoring. How you choose to interpret my non-aggressive words is up to you.
Paul claimed that this pandemic will cause the 'large majority' of people to have their homes repossessed or be put in a position where they are forced to sell. I don't think it's unreasonable to pull the him up on this ridiculous claim.
The majority of homeowners in this country own their home outright and don't have a mortgage. So how exactly will the large majority of these people have their homes repossessed or be forced to sell?
This poster has form for spreading misinformation and fear. This isn't pessimism, it's scare-mongering and it is counter productive. I didn't mention the word 'lie' did I, that was you. I said he made this up knowing it wouldn't be the case, which he obviously did. And he's not had the guts to respond to me and hold his hands up because he obviously thinks it's fine to be spreading misinformation like this in order to create fear.
I'm making a point here because I think it's fair to point out to people who might be anxious about the current situation that this poster is not credible.
I don't agree that making something up is the same as lying. I could claim that Burnley will win the PL next season, which wouldn't be a lie as it can't be disproved at this time. However based on the evidence to hand we know how ridiculously unlikely this is so I would expect to be pulled to task to explain the rationale behind my claim.dsr wrote: ↑Thu Apr 09, 2020 12:04 pmWhether or not the poster spreads misinformation and fear, and whether or not you disagree with most of what he says, I see no reason to imagine that he doesn't believe what he says. You may well think he's wrong, but not that he's lying.
And don't use the "I didn't mention the word lie" weasel words. If you accuse someone of saying something which they know to be untrue, then you accuse someone of lying. It means the same thing.
no wonder your bill is so high, close that door, keep the heat in!!FactualFrank wrote: ↑Thu Apr 09, 2020 10:41 amI've just had my heating bill and it's sky high.
If anyone could help, just pop round, my door is always open.
You don't know for certain that Paul is right or wrong & that's a fact, Paul has only made a punchy prediction which is doubtful, it's pure conjecture on your part to question the 100% accuracy of that prediction with certainty from yourself.
But I do know. In the same way I know that covid-19 isn’t going to wipe out the entire world population. In the same way I know that the sun will rise tomorrow. I know that the large majority of people won’t lose their homes because of this.Jakubclaret wrote: ↑Thu Apr 09, 2020 1:53 pmYou don't know for certain that Paul is right or wrong & that's a fact, Paul has only made a punchy prediction which is doubtful, it's pure conjecture on your part to question the 100% accuracy of that prediction with certainty from yourself.
I wouldn't say majority myself but I'd stop short at staking a claim that the prediction was wrong, I actually think because of this virus homeowners should be extremely worried about the threat of repossessions, it's wise to note what he has predicted & go back if need be but not now, you go far too early in dismissing predictions, let it play out he could be right in the fact, that the majority of people currently with mortgages could be evicted, obviously he's only about people who currently are on the property ladder which can never be the majority, as lots of people especially over 60s already own there own homes & don't fall into that prediction.
To be fair to say that the majority of people will lose their houses is a bit daft.Jakubclaret wrote: ↑Thu Apr 09, 2020 1:53 pmYou don't know for certain that Paul is right or wrong & that's a fact, Paul has only made a punchy prediction which is doubtful, it's pure conjecture on your part to question the 100% accuracy of that prediction with certainty from yourself.
Just because Barclays & Lloyds ect are cutting us all some slack now doesn't mean the goodwill will go on forever, some people are already in their overdrafts & arrears, after the 3mths grace period there's nothing stopping the banks/mortgage providers tightening things up & pushing harder, I think the prediction could be based on the virus becoming more severe & a longer lockdown, maybe he could clarify the exact prediction.TVC15 wrote: ↑Thu Apr 09, 2020 2:07 pmTo be fair to say that the majority of people will lose their houses is a bit daft.
I can’t be 100% sure that everyone will not be made redundant tomorrow but if I said they were I would expect the odd person to challenge me...and it would be an equally daft debate if I kept on going back saying “you don’t know that for sure”.
FactualFrank wrote: ↑Thu Apr 09, 2020 10:41 amI've just had my heating bill and it's sky high.
If anyone could help, just pop round, my door is always open.
But I know he’s wrong because the majority of homeowners don’t have a mortgage. So even if everyone with a mortgage lost their home, which in itself would be an utterly ridiculous claim, the majority still wouldn’t lose their home, never mind the great majority. I know you like to argue against everything I post on here but in doing so you sometimes end up arguing in favour of the ridiculous.Jakubclaret wrote: ↑Thu Apr 09, 2020 2:07 pmI wouldn't say majority myself but I'd stop short at staking a claim that the prediction was wrong, I actually think because of this virus homeowners should be extremely worried about the threat of repossessions, it's wise to note what he has predicted & go back if need be but not now, you go far too early in dismissing predictions, let it play out he could be right in the fact, that the majority of people currently with mortgages could be evicted, obviously he's only about people who currently are on the property ladder which can never be the majority, as lots of people especially over 60s already own there own homes & don't fall into that prediction.
Looking at my family, and social group of around 30 households, I would guess only one of those would be under any risk of losing their house if things went pear shaped. Not the best scientific experiment, but like you say, certainly not the majority.Rileybobs wrote: ↑Thu Apr 09, 2020 2:32 pmBut I know he’s wrong because the majority of homeowners don’t have a mortgage. So even if everyone with a mortgage lost their home, which in itself would be an utterly ridiculous claim, the majority still wouldn’t lose their home, never mind the great majority. I know you like to argue against everything I post on here but in doing so you sometimes end up arguing in favour of the ridiculous.
And despite yourself and dsr challenging me, neither have touched on the point of why I’ve taken Paul to task on this, and that’s because making such wild claims just serves to spread fear and panic and it is of no help to anyone. Why he chooses to do it on every thread is a mystery to me, he must get something out of it.
Maybe I know that the MAJORITY of people won’t lose their homes because I worked in the industry for more thanJakubclaret wrote: ↑Thu Apr 09, 2020 2:14 pmJust because Barclays & Lloyds ect are cutting us all some slack now doesn't mean the goodwill will go on forever, some people are already in their overdrafts & arrears, after the 3mths grace period there's nothing stopping the banks/mortgage providers tightening things up & pushing harder, I think the prediction could be based on the virus becoming more severe & a longer lockdown, maybe he could clarify the exact prediction.
You are not being specifically targeted as a source of an argument perhaps the reason could simply be is we see things differently & no other reason, perhaps there's a hint of paranoia on your behalf if you think that way, if 2 posters have challenged you on this subject again perhaps Paul could have a point, I don't agree with the prediction but it's wise not be so dismissive out of hand & afford the other poster some courtesy & respect despite disagreeing. Everything that's been predicted is based upon a worst casebook scenario if that happens he could be correct, if it doesn't happen the prediction will be wrong.Rileybobs wrote: ↑Thu Apr 09, 2020 2:32 pmBut I know he’s wrong because the majority of homeowners don’t have a mortgage. So even if everyone with a mortgage lost their home, which in itself would be an utterly ridiculous claim, the majority still wouldn’t lose their home, never mind the great majority. I know you like to argue against everything I post on here but in doing so you sometimes end up arguing in favour of the ridiculous.
And despite yourself and dsr challenging me, neither have touched on the point of why I’ve taken Paul to task on this, and that’s because making such wild claims just serves to spread fear and panic and it is of no help to anyone. Why he chooses to do it on every thread is a mystery to me, he must get something out of it.
A mystery to me as well.Rileybobs wrote: ↑Thu Apr 09, 2020 2:32 pmBut I know he’s wrong because the majority of homeowners don’t have a mortgage. So even if everyone with a mortgage lost their home, which in itself would be an utterly ridiculous claim, the majority still wouldn’t lose their home, never mind the great majority. I know you like to argue against everything I post on here but in doing so you sometimes end up arguing in favour of the ridiculous.
And despite yourself and dsr challenging me, neither have touched on the point of why I’ve taken Paul to task on this, and that’s because making such wild claims just serves to spread fear and panic and it is of no help to anyone. Why he chooses to do it on every thread is a mystery to me, he must get something out of it.