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Debate House Prices
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The real question is why house prices aren't falling faster?
Comments
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pickledpink wrote: »Well if they lose their job next year (or the year after) they'll not be able to step onto the property ladder at all! And if by then properties start to climb they'll never get onto it!
Most FTB's have to struggle in the early years (they always have done) but they reap the benefits in the future.
If everyone took your advice they'd never take the chance to better their lives.
Most people dream about owning their own home, and in the beginning they make sacrifices for that.
If no-one ever took a chance or grabbed the opportunity to fulfill their dream they'd all be stuck paying the mortgage for their landlord.
Just how does paying too much on a mortgage better people's lives? All it means is less money to spend on everything else. And if they lose their job next year are you saying it's better for them to have bought a house this year???
Baffling.0 -
- I'm a financial professional
- I have a lot of experience of the property market
- But most of all, the professional property derivatives market is anticipating a 30% drop in value over the next 3 years. This is a professional market where banks and other large institutions trade contracts (min size £5 mill) based on the Halifax house price index.
Just because you're 'financial professional' doesn't mean to say you're a good forecaster....................just look at the mess all the Banks are in right now!!:money:0 -
Just how does paying too much on a mortgage better people's lives? All it means is less money to spend on everything else. And if they lose their job next year are you saying it's better for them to have bought a house this year???
Baffling.
The majority of people take out insurance with their mortgage whereby if they lose their job their mortgage gets paid for them.
If they lose their job while still renting they'll not get their foot on the ladder will they?!:rolleyes:
Anyway, we're talking 'IFs'. If this.....If that.............
What if your landlord decided to sling you out on your ear, and you had no job..........................what would you do then?0 -
pickledpink wrote: »The majority of people take out insurance with their mortgage whereby if they lose their job their mortgage gets paid for them.
If they lose their job while still renting they'll not get their foot on the ladder will they?!:rolleyes:
I believe that only 1/3rd of mortgages have PPI covering them. Current welfare rules are that your interest is only paid after 9 months. It is very hard for a self-employed person to get MPPI.
Do you really think house prices will treble in 10 years? A studio flat in Balham would cost almost half a million quid!
http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=1694672&agentid=046920 -
pickledpink wrote: »Just because you're 'financial professional' doesn't mean to say you're a good forecaster....................just look at the mess all the Banks are in right now!!:money:
True. :-)
So, nobody should forecast anything, or you believe that all forecasters are equally unreliable, or ..... ?No reliance should be placed on the above! Absolutely none, do you hear?0 -
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pickledpink wrote: »so many quotes to choose from..0
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pickledpink wrote: »Well if forcasters were accurate they wouldn't be in the mess they're in now would they?:money: And that includes YOU!
I'm lost in the morass of your logic. For a start, I'm not in a mess.No reliance should be placed on the above! Absolutely none, do you hear?0
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