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Debate House Prices
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Lloyds: Scottish House Prices up 4.7% YoY
Comments
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Yesterday hamish was moaning about FTB loosing their jobs but today he is celebrating the fact they have to get into more debt just to buy a house
His selfishness is abhorrent, he has an obsession for extracting wealth from the very people he mocks.
He tells of his empathy for FTB'rs and their plight for mortgages etc..yet all he really cares about is them taking on immeasurable amounts of debt to push up the price of his property and his BTL, with not even a thought for his own children/grandchildren, if he has any.
One day he and all of his ilk will surely have to face issues that will make their current obsession seem pety and inconsequential.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0 -
Aren't they falling now and isn't the trend down wards for the foreseeable future.
Getting desperate Hamish, very desperate aren't you.
Hamish always likes YOY when things are looking ropey.HAMISH_MCTAVISH wrote: »With local house prices 6.3% above the previous 2007 peak..... There's nothing to be desperate about up here.
I think you mean up for the whole of Aberdeen.
Which, as has succesfully been demonstrated, doesn't neccesarily mean its the same local to you.
HAMISH_MCTAVISH wrote: »Seasonal fluctuations, but up year on year.
Ah yes. Those seasonal variations of tens of thousands of pounds which simply did not exist prior to the 2007 market meltdown.
I keep reminding you about this Spamish, yet you keep forgetting the fact.
Go figure.0 -
HAMISH_MCTAVISH wrote: »Seasonal fluctuations, but up year on year.
Apparently thats just a normal seasonal variation of £-30000 (15.5%), according to the latest ROS average for Aberdeen City in the month up to 8th January. :rotfl:0 -
Lets see what the experts say.
http://business.scotsman.com/mortgageandpropertynews/Number-of-house-sales-plunges.6720089.jp#5999936HOUSE sales in Scotland have plunged over the past three months, as confidence has drained from the market, figures out today show.
Ouch. My house hasn't fallen in value....because I haven't been able to sell it.Scottish residential property sales have halved in the past three years, despite a 7 per cent increase in 2010, according to the latest house price monitor from Lloyds TSB Scotland.Donald MacRae, chief economist at Lloyds TSB Scotland, said: "The Scottish housing market has adjusted to the recession with a halving of sales and a period of volatile price movement over the last three years.
"The pattern of quarterly falls followed by quarterly increases to give virtually static house prices over the year looks likely to be repeated during 2011."
The fluctuations in house prices are due partly to low sales levels, with average values easily distorted in a subdued market.
Translated: Normal seasonal variations my @rse!
DID YOU CATCH THAT BIT SPAMISH. EVEN LLOYDS CHIEF ECONOMIST THINKS YOUR TALKING RUBBISH! :rotfl:
Maybe he can get together with the ESPCs analyst and, over a nice bottle of wine, have a quiet chat about how cross-eyed your "new peak" crowing has turned out to be.
I think we're done here...0 -
HAMISH_MCTAVISH wrote: »UK House prices had nothing to do with the recession or credit crunch.
UK mortgage lending standards had nothing to do with the recession or credit crunch.
May I slightly disagree ?
I will anyway.........
UK House prices had a lot to do with the recession.
If Halif***ed, Northern Crock or Bradford and Bungley hadn't been dishing the dosh at the rate they were (either they were fuelling HPI, or were having to lend ever larger amounts as HPI and property sales boomed), they wouldn't have had to be bailed out by the taxpayer, I am almost certain of that. Had they have simply been knocked back a peg or two, the UK consumer might not have had a severe fright and suddenly tightened their belts (in my opinion they needed to anyway). I'm certain that confidence took quite a beating, and that contributed to the UK going into recession.
Yes, there is a shortage of property in the UK. Yes, the bull argument is that price will be determined by supply/demand. Price can also be determined by speculation and supply of credit. You tell 'em that prices are rising, they'll believe you. You tell 'em to buy now or miss the boat, they'll buy. You make it easy for them to borrow "just a little extra", they'll do it. Bingo ! Higher prices and more speculation - until it goes POP ! Happens with shares, happens with gold, happens with anything where people think there is a buck to be made. Houses are different to a lot of other investments (that's if you think of houses as investments) as they are pretty crucial to most of us. That is why I suggest that stricter controls are put on lending. OK, the bulls will cry "that's not fair to FTBs !". I reply "so are you suggesting that we just let FTBs borrow ever larger amounts ?". You turn on the credit taps, and the rush for the limited number of properties will begin, prices will rise quickly and sharply, and it will be Northern Wreck all over again.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
May I slightly disagree ?
I will anyway.........
UK House prices had a lot to do with the recession.
If Halif***ed, Northern Crock or Bradford and Bungley hadn't been dishing the dosh at the rate they were (either they were fuelling HPI, or were having to lend ever larger amounts as HPI and property sales boomed), they wouldn't have had to be bailed out by the taxpayer, I am almost certain of that. Had they have simply been knocked back a peg or two, the UK consumer might not have had a severe fright and suddenly tightened their belts (in my opinion they needed to anyway). I'm certain that confidence took quite a beating, and that contributed to the UK going into recession.
Yes, there is a shortage of property in the UK. Yes, the bull argument is that price will be determined by supply/demand. Price can also be determined by speculation and supply of credit. You tell 'em that prices are rising, they'll believe you. You tell 'em to buy now or miss the boat, they'll buy. You make it easy for them to borrow "just a little extra", they'll do it. Bingo ! Higher prices and more speculation - until it goes POP ! Happens with shares, happens with gold, happens with anything where people think there is a buck to be made. Houses are different to a lot of other investments (that's if you think of houses as investments) as they are pretty crucial to most of us. That is why I suggest that stricter controls are put on lending. OK, the bulls will cry "that's not fair to FTBs !". I reply "so are you suggesting that we just let FTBs borrow ever larger amounts ?". You turn on the credit taps, and the rush for the limited number of properties will begin, prices will rise quickly and sharply, and it will be Northern Wreck all over again.
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His selfishness is abhorrent, he has an obsession for extracting wealth from the very people he mocks.
He tells of his empathy for FTB'rs and their plight for mortgages etc..yet all he really cares about is them taking on immeasurable amounts of debt to push up the price of his property and his BTL, with not even a thought for his own children/grandchildren, if he has any.
One day he and all of his ilk will surely have to face issues that will make their current obsession seem pety and inconsequential.
Very correct.
That's exactly how the likes of Hamish appear to me. It's fascinating to witness the selfish, short sighted and greedy attitude that some humans exhibit, and Hamish certainly makes an exhibition of himself. I don't think Hamish has any offspring, as I can't believe that he would display the attitude that he does if he did.
We come into the world with nothing, and we can't take what we gain with us*. Yes, it's nice to have some (or all) of what we desire along the way, but once you are comfortable with your lot (as I am) you begin to look at the bigger picture and see that it's also nice to not have done too much damage for those you leave behind. I have no children of my own, but I have friends that do. I read what people like Hamish write, and I think of my friend's kids. I wonder what their attitude would be to HPI = :beer: ?
* Including LED TVs Graham. But you only live once, so go on, do the right thing. You know you want to.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Is that a fat cat in a ferrari I see ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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Is that a fat cat in a ferrari I see ?
Well I haven't bought one yet..... Must be some other fat cat.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
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