Mortgages & House Prices

[alexa]

The dept slavery-Mortgages & House prices. I am fortunate in a way as I own my house, but do I really ? What with the hike in council tax's every year.

 

 

[Covidiot]

On 8/2/2022 at 8:02 AM, alexa said:

The dept slavery-Mortgages & House prices. I am fortunate in a way as I own my house, but do I really ? What with the hike in council tax's every year.

 

 

Had a conversation with a colleague who is awake. His view was he was unconcerned as he owned his house (mortgage paid off). However like you just pointed out it reminded him that there are other ways they keep you in the rat race IE council tax. If he lost his job through being unvaxxed or lost access to his savings by being unvaxxed then the failure to pay the tax would result in a repossession. In the end we will own nothing and be unhappy. Unless you are in the 0.0001% you are going to be stripped of your wealth like the rest until you have nothing.

[alexa]

16 minutes ago, Covidiot said:

 

Had a conversation with a colleague who is awake. His view was he was unconcerned as he owned his house (mortgage paid off). However like you just pointed out it reminded him that there are other ways they keep you in the rat race IE council tax. If he lost his job through being unvaxxed or lost access to his savings by being unvaxxed then the failure to pay the tax would result in a repossession. In the end we will own nothing and be unhappy. Unless you are in the 0.0001% you are going to be stripped of your wealth like the rest until you have nothing.

 

I know, people go around as if they own this & that, but in the long run. they don't. Unless we can rid ourselves of this monstrous council tax, we never will. This is how they've got you good & proper unless your filthy rich, & then these people are owned in one way or another.

[Covidiot]

6 hours ago, alexa said:

 

I know, people go around as if they own this & that, but in the long run. they don't. Unless we can rid ourselves of this monstrous council tax, we never will. This is how they've got you good & proper unless your filthy rich, & then these people are owned in one way or another.

 

Even then it doesn't matter even if you had cash for their taxes they would just slap you with a compulsory purchase order as part of a "rewilding" programme and cart you off to the mega city regardless. This is all possible due to the stupor and apathy of the moronic sheep

[Macnamara]

8 hours ago, Covidiot said:

If he lost his job through being unvaxxed or lost access to his savings by being unvaxxed then the failure to pay the tax would result in a repossession. In the end we will own nothing and be unhappy.

 

the state can also seize your land through compulsory purchase (eminent domain in the US) for example they recently demolished a house to make a cycleway to a new housing development somewhere in england

[alexa]

 

[Grumpy Owl]

On 8/2/2022 at 8:02 AM, alexa said:

The dept slavery-Mortgages & House prices. I am fortunate in a way as I own my house, but do I really ? What with the hike in council tax's every year.

 

You never truly own your home until you have paid off your mortgage in full. Or unless you bought the property 'outright' with no mortgage involved.

 

Council tax is a completely different matter though.

 

On 8/4/2022 at 2:28 PM, Covidiot said:

Had a conversation with a colleague who is awake. His view was he was unconcerned as he owned his house (mortgage paid off). However like you just pointed out it reminded him that there are other ways they keep you in the rat race IE council tax. If he lost his job through being unvaxxed or lost access to his savings by being unvaxxed then the failure to pay the tax would result in a repossession. In the end we will own nothing and be unhappy. Unless you are in the 0.0001% you are going to be stripped of your wealth like the rest until you have nothing.

 

You might be right there, but I have never heard of anyone losing their home due to a failure to pay any council tax owing.

 

If your mortgage is paid up in full, then you own your property and there is no debt secured against it. If you lose your job and can't afford to pay the council tax, the worst that could happen is that you get taken to court, and then you find yourself in a position where you need to sell your home (your asset) in order to pay off your debts.

 

I don't think its possible that any council could 'repossess' your home if you own it outright.

 

 

 

But going back to the HugoTalks video, it would seem that the banks are laughing all the way to the - ahem - bank. With all the uncertainty about interest rises and the 'cost of living crisis', one gets the feeling that the banks are changing the way that they agree mortgage conditions, knowing full well that many buyers could find themselves in a position where their homes could be repossesed due to 'defaulting' on their mortgage payments.

 

Is there a property 'crash' looming? Are the banks trying to sucker enough people so they can seize as many properties as they can? Which they can of course then sell off at 'reduced rates' or via 'auction' to their elite wealthy investors, who can acquire large numbers of properties that can then be 'rented' back to those who lose their homes?

 

 

[alexa]

12 minutes ago, Grumpy Owl said:

You never truly own your home until you have paid off your mortgage in full.

 

Council tax is a completely different matter though.

 

We have. but we will still need to pay Council tax which will be never ending.

[Covidiot]

12 hours ago, Grumpy Owl said:

 

You might be right there, but I have never heard of anyone losing their home due to a failure to pay any council tax owing.

 

If your mortgage is paid up in full, then you own your property and there is no debt secured against it. If you lose your job and can't afford to pay the council tax, the worst that could happen is that you get taken to court, and then you find yourself in a position where you need to sell your home (your asset) in order to pay off your debts.

 

I don't think its possible that any council could 'repossess' your home if you own it outright.

 

 

 

But going back to the HugoTalks video, it would seem that the banks are laughing all the way to the - ahem - bank. With all the uncertainty about interest rises and the 'cost of living crisis', one gets the feeling that the banks are changing the way that they agree mortgage conditions, knowing full well that many buyers could find themselves in a position where their homes could be repossesed due to 'defaulting' on their mortgage payments.

 

Is there a property 'crash' looming? Are the banks trying to sucker enough people so they can seize as many properties as they can? Which they can of course then sell off at 'reduced rates' or via 'auction' to their elite wealthy investors, who can acquire large numbers of properties that can then be 'rented' back to those who lose their homes?

 

 

 

Appologies for my sloppy language. I didn't mean the council could literally reposses your house. You would be slapped with a charging order and eventually the courts would send the bailliffs round to horse you out and sell your "fully paid off" house from under you at no doubt a massive discount will all kinds of "recovery fees""court fees" and all sorts of other expenses leaving you with no house and potentially little from the sale.

 

Point is that unless you have enough cash to settle tax demands for the rest of your life you are stuck in the rat race house paid for or not. And as i said even then at any point you could be slapped with a compulsory purcase order. How can you ever say you "own" your own home when the gov/council can just take it from you anytime they wish? When they start shipping the sheep into the smart cities you think you are going to be left in your own home just because you think you own it?

 

From Gov.uk -

 

Compulsory purchase is a legal mechanism by which certain bodies (known as ‘acquiring authorities’) can acquire land without the consent of the owner. Compulsory purchase powers can support the delivery of a range of development, regeneration and infrastructure projects in the public interest. In doing so, they can help to bring about improvements to social, economic and environmental wellbeing.

 

As for the property market i'm unsure about when it will pop. I wonder if initially there will be some gov "assistance" to help with mortgage payments to soften us up to state dependence before UBI. Ultimately I think mass repossessions will come but I wonder if it will be a controlled swindle rather than an almighty crash

Edited yesterday at 08:19 AM by Covidiot

[alexa]

6 minutes ago, Covidiot said:

 

Appologies for my sloppy language. I didn't mean the council could literally reposses your house. You would be slapped with a charging order and eventually the courts would send the bailliffs round to horse you out and sell your "fully paid off" house from under you at no doubt a massive discount will all kinds of "recovery fees""court fees" and all sorts of other expenses leaving you with no house and potentially little from the sale.

 

Point is that unless you have enough cash to settle tax demands for the rest of your life you are stuck in the rat race house paid for or not. And as i said even then at any point you could be slapped with a compulsory purcase order. How can you ever say you "own" your own home when the gov/council can just take it from you anytime they wish? When they start shipping the sheep into the smart cities you think you are going to be left in your own home just because you think you own it?

 

As for the property market i'm unsure about when it will pop. I wonder if initially there will be some gov "assistance" to help with mortgage payments to soften us up to state dependence before UBI. Ultimately I think mass repossessions will come but I wonder if it will be a controlled swindle rather than an almighty crash

 

This was exactly my point I was trying to get across.

Thanx Covi 

[Grumpy Owl]

10 hours ago, Covidiot said:

Compulsory purchase is a legal mechanism by which certain bodies (known as ‘acquiring authorities’) can acquire land without the consent of the owner. Compulsory purchase powers can support the delivery of a range of development, regeneration and infrastructure projects in the public interest. In doing so, they can help to bring about improvements to social, economic and environmental wellbeing.

 

Yes, this is all true, and it does happen. But at least you get some money from the purchase of your property (albeit not always the full value!). It's not quite the same as having your property 'stolen' from you through repossession.

 

10 hours ago, Covidiot said:

As for the property market i'm unsure about when it will pop. I wonder if initially there will be some gov "assistance" to help with mortgage payments to soften us up to state dependence before UBI. Ultimately I think mass repossessions will come but I wonder if it will be a controlled swindle rather than an almighty crash

 

It could go either way. The "gov assistance" idea wouldn't surprise me, but then I think it is probably unlikely, unless it got expanded to include people who rent - otherwise there would probably be 'anger' as it wouldn't benefit those who can't afford to buy their own home.

 

The "mass repossessions" is definitely going to happen though, and this is all about 'squeezing' the middle-classes. It started with energy bills, then fuel prices, then the 'cost of living crisis'. The next one will be the rising interest rates, which will financially cripple many already struggling to repay their mortgages. Many private landlords who may have taken out 'buy-to-let' mortgages may also be faced with having to increase the rent their tenants pay.

 

There will be companies lined up ready to take full advantage of any impeding 'crisis'. I wrote an article on my website last year about Lloyds Bank and it's plans:

 

Lloyds Bank plans to become private landlord – another step towards “abolish private property ownership”?

https://thegrumpyowl.co.uk/2021/03/26/lloyds-bank-plans-to-become-private-landlord-another-step-towards-abolish-private-property-ownership/