Halifax August - 1.8% yoy -10.9%

WTF?_2

andys15 wrote: »

really.if bbc or sky see your post. they might interview you. perhaps with your wisdom you might get a permanent slot on newsnight.

:rolleyes:

Anyone even suggesting that the market was going to fall a year ago got short shrift on this board (well, the parent board - this one didn't exist at the time).

What a difference a year makes, eh?

Treadmill

A year ago banks where still chucking money at people, the anniversary of the run on NR must be soon.

WTF?_2

Mortgage availability dried up around Jan/Feb of this year IIRC.

I suspect that the mortgage drought coincided with the banks deciding which direction the market was about to take. As posted on another thread here, you can get fixed IR deals similar to what were generally available at the start of the year but they do now require a very decent 'low' LTV (75%).

Suggests to me that the banks see a substantial further fall but have decided that they are happy to lend money on houses if they are protected against that fall (which requiring a 25% deposit from the borrower should do for them) .

dopester

Treadmill wrote: »

Crikey... only another 65% to go and I'll be in negative equity

You could sell aggressively now maybe for just a bruising hit, rather than wait 1 to 4 years until we get to that territory.

Smile away all you like now. Darling gave a good insight of what is to come, what can't be wished away, when he said the economic crisis is the worst for 60 years.

300% rises in 11 years.... but you are unwilling to contemplate what happens when the HPI economy is revealed as a broken, flawed system.

Chris2685

dopester wrote: »

You could sell aggressively now maybe for just a bruising hit, rather than wait 1 to 4 years until we get to that territory.

Smile away all you like now. Darling gave a good insight of what is to come, what can't be wished away, when he said the economic crisis is the worst for 60 years.

300% rises in 11 years.... but you are unwilling to contemplate what happens when the HPI economy is revealed as a broken, flawed system.

Or you could wait 10 years and your property will probably be worth double what it is now...

Edale

!!!!!!? wrote: »

Mortgage availability dried up around Jan/Feb of this year IIRC.

I suspect that the mortgage drought coincided with the banks deciding which direction the market was about to take. As posted on another thread here, you can get fixed IR deals similar to what were generally available at the start of the year but they do now require a very decent 'low' LTV (75%).

Suggests to me that the banks see a substantial further fall but have decided that they are happy to lend money on houses if they are protected against that fall (which requiring a 25% deposit from the borrower should do for them) .

They always quote average rates, I don't go for an average rate I try and get the lowest. IIRC First direct offered under 5% fixed for 5 years at the beginning of the year and National Counties BS had a tracker tracking under the base rate for 5 years. There is no doubt in my mind that the best rates available are a lot higher than six months ago and probably higher than any time 2003 - early 2007. That is without taking increased fees and tighter lending criteria into account.

Treadmill

I'm thinking long term, I'll be leaving my property to my kids when I die, I'm sure it will have increased in value by then lol (unless i get hit by a bus tomorrow)

Jumping_Bean

Chris2685 wrote: »

Or you could wait 10 years and your property will probably be worth double what it is now...

Yeah just wait a decade. You might be fine by then.

dopester

Chris2685 wrote: »

Or you could wait 10 years and your property will probably be worth double what it is now...

The sooner you exchange on your circa £215,000 property (the one its now crossed your mind to gazump on in the light of recent falls but you say you are too honourable to do such a thing) the happier I will be.

Treadmill

10 years from now prices will just about got back to 2007 levels I reckon.