The only cure for the housing market is a 100 yr lease plan.

CK_John

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Thu Jan-24-08 01:52 PM
Original message

The only cure for the housing market is a 100 yr lease plan.

Just like they revved up the auto market. Do you think it will happen.

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tridim

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Thu Jan-24-08 01:55 PM
Response to Original message

1. How would they measure the house's "mileage" at the end of the lease?

They'd probably send someone out to make a judgment call as to the house's condition and screw the crap out of the owner. Got a complaint? Too bad.

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flvegan

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Thu Jan-24-08 01:55 PM
Response to Original message

2. You mean lease your home from a lender or 3rd party?

That's called "renting" for the most part. You're just responsible for the repairs too, I'd think.

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CK_John

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Thu Jan-24-08 02:01 PM
Response to Reply #2

4. That implies a owner with a mortgage, I,m thinking more along the lines of

banks lending to large builders only who turn around and do lease only. n/t

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flvegan

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Thu Jan-24-08 02:08 PM
Response to Reply #4

7. They do that now in many places.

Retirement communities are very popular that way.

Many lenders to homebuyers oftentimes aren't interested in mortgaging leasehold interests in homes, though. The dirt always has a specific value. The structure can depreciate. If the structure is all they have the Note interest in...I dunno. It's an idea to be flushed out.

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cgrindley

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Thu Jan-24-08 01:58 PM
Response to Original message

3. The lease system in the UK is NOT a good thing

the lease system in the auto market is sheer idiocy. Only an absolute fool leases a new car.... it's like rent to own furniture, it's just a way of hurting lower income people.

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CK_John

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Thu Jan-24-08 02:02 PM
Response to Reply #3

5. Neither is the weather. n/t

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cgrindley

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Thu Jan-24-08 02:04 PM
Response to Reply #5

6. Unless you like grey, rainy days and the rising damp (nt)

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MindPilot

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Thu Jan-24-08 02:10 PM
Response to Original message

8. As the leasing manager at the car dealer where I worked would say:

"We've figured out a way to get you to make car payments for three years and then pay us some more to take it back."

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Stinky The Clown

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Thu Jan-24-08 02:12 PM
Response to Original message

9. In Japan they have 100 year mortgages.

So I guess anything is possible.

http://www.gonomad.com/readuponit/2005/12/buying-house-with-90-year-mortgage-in.html

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