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Original poster

IMAGINE a mortgage free Britain

231 replies

HarrowToCroydon · 02/08/2023 13:06

For a moment, imagine if everyone in Britain lived in Government Housing. Everyone paid minimal rent, the cost to Government was 0 as the rent would cover upkeep and new buildings.

And society was secure in the knowledge that their children too will be housed.

How would you then spend your money which you have saved from paying a mortgage.

Will you be having a lot less stress?

OP posts:
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YukoandHiro · 05/08/2023 08:07

You may not realise this but actually fewer people own with a mortgage than rent, or than own outright. Mortgage holders are already the minority.

rosetintedmemories2023 · 05/08/2023 08:23

heartofglass23 · 05/08/2023 08:06

Why do people assume going into a care home is inevitable in older age?

Only 15% of over 85s are in care homes.

And not everyone is going to get to 85.

The vast majority of people will never have to sell their homes to pay for care.

Even if they do the average stay is 2 years at a cost of under £100k so less than most peoples house values.

https://www.mha.org.uk/get-involved/policy-influencing/facts-stats/

What the government should do is give people/communities spare/vacant land to self build. Have government mortgages for people the banks won't provide for. It's daft that benefits pay for rent but not mortgages. It's much cheaper to pay a mortgage for 25 years than rent for life.

It's not just the care home but most people die of an illness. The way things are going, I would not bank on the NHS being able to cover that. I already get my healthcare privately and find it impossible to function without private healthcare. I am also 31 and healthy not 81!

lljkk · 05/08/2023 09:03

I thought majority of adult populace lived in a household that was property owned outright. Something like 56%.
that leaves ... about 11% with a mortgage
about 12% renting
about 11% in another arrangement, students, prisoners, residential care, tied to job homes, etc.

SueVineer · 05/08/2023 10:00

HarrowToCroydon · 03/08/2023 14:03

It is only through relatively transparent public spending that corruption can be weeded out.

The repairs in your area are simply not done, is because the organisation simply is lethargic, as I said before, they are licenses to print money.

I am more than happy to go away and learn about these things, would you please direct me to a published, well peer reviewed paper on this matter? Or a textbook perhaps.

Show quote history

You need to start with basic textbooks on economics and arithmetic. Then maybe learn about societies where this has been tried and failed. Then you need to learn about accounting - at least the basics. Housing associations accounts etc are online. There’s no substitute for practical experience too so maybe a job where you come into contact with these types of organizations.

I wouldn’t recommend looking at academic articles until you’ve done all that as you won’t be able to understand them and analyze them properly.

sorry to laugh. But really state ownership of all housing won’t mean housing costs zero, etc. Generally it means housing costs substantially more and is poorer quality and not of the type and in the places where people want. A mix of housing is a good thing.

SueVineer · 05/08/2023 10:03

lljkk · 05/08/2023 09:03

I thought majority of adult populace lived in a household that was property owned outright. Something like 56%.
that leaves ... about 11% with a mortgage
about 12% renting
about 11% in another arrangement, students, prisoners, residential care, tied to job homes, etc.

They do. Mortgages get paid off. That’s why it’s generally cheaper to buy than rent over your lifetime unless you get state help with your rent.

Namechangedforthis25 · 05/08/2023 10:06

HarrowToCroydon · 02/08/2023 13:06

For a moment, imagine if everyone in Britain lived in Government Housing. Everyone paid minimal rent, the cost to Government was 0 as the rent would cover upkeep and new buildings.

And society was secure in the knowledge that their children too will be housed.

How would you then spend your money which you have saved from paying a mortgage.

Will you be having a lot less stress?

Would we all be on the farm farming potatoes too or in sweat shops

this is a one way street to full on communism- with no incentivisation to be creative or do anything different

I’m no capitalist - but no thank you to this arrangement

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