Credit Crunch officially OVER

ad44downey

Well according to justpurchased (oh welcome back again by the way), dan, dithering dad, etc. anyway.

Okay that may be only one person's opinion but it's a very authoritative analysis all the same.


oh finally, a basic maths lesson for justpurchased, dan, or whatever he's calling himself today

If a share falls 90%, it has to go up 900% to go back to its original value.

Bear that in mind when celebrating today's 10-15% rises in certain shares.

justpurchased

ad44downey wrote: »

Well according to justpurchased (oh welcome back again by the way), dan, dithering dad, etc. anyway.

Okay that may be only one person's opinion but it's a very authoritative analysis all the same.


oh finally, a basic maths lesson for justpurchased, dan, or whatever he's calling himself today

If a share falls 90%, it has to go up 900% to go back to its original value.

Bear that in mind when celebrating today's 10-15% rises in certain shares.

Read my post, you will see this poster is a bit mad!:rolleyes:

pizzagirl

We get one of these false dawns at least once a fortnight. Dithering Dad et al may think it's over but I'm certain it is anything but.

Dan:_4

errr. when did anyone say the credit crunch was over?

I find it amazing how some people react to a piece of positive news, like its the end of the world or something.

Maybe this board shoud be renamed the WE'RE ALL DOOMED BOARD, and only allowed to post bad economic news?

justpurchased

ad44downey wrote: »

oh finally, a basic maths lesson for justpurchased, dan, or whatever he's calling himself today

If a share falls 90%, it has to go up 900% to go back to its original value.

Bear that in mind when celebrating today's 10-15% rises in certain shares.

Also have shares fallen 90%?
Did you not say building shares are up only 5% from their bottom? I think TW are up 238% from bottom.
Who needs a maths lesson?
ad44downey Give this one up, you are beginning look a bit foolish!

FelOn_2

ad44downey wrote: »

oh finally, a basic maths lesson for justpurchased, dan, or whatever he's calling himself today

So, these "members" of this forum are all sock puppets of Dithering Dad?

justpurchased

FelOn wrote: »

So, these "members" of this forum are all sock puppets of Dithering Dad?

Yes I am, but it does not seem like I can talk to myself though. I did try earlier.

formulaonefan

ad44downey wrote: »

Well according to justpurchased (oh welcome back again by the way), dan, dithering dad, etc. anyway. Okay that may be only one person but it's a very authoritative analysis all the same.


oh finally, a basic maths lesson for justpurchased, dan, or whatever he's calling himself today

If a share falls 90%, it has to go up 900% to go back to its original value.

Bear that in mind when celebrating today's 10-15% rises in certain shares.

I have noticed recently some of the bulls (people who want property prices to go up are called bulls? Am I correct?) are back. Maybe they think they can talk up the market or something? Started to notice posts since stamp duty news and homebuyers direct news. What they all are forgetting is people should first get a mortgage and should be able to afford to buy property.

I can't see this happening any time sooner because I know so many of them (friends, relatives, colleagues) out there who want to buy but could not get a mortgage or the mortgage being offered to them is not enough. If you have a loan or credit card balance then you can kiss good bye the mortgage amount you want. Gone are the days of getting easy mortgage. Lots and lots of people want to buy but No money...No property.

1. 25% deposit (If you have 10-15% deposit then expect high interest rate)
2. No Credit card balance or low credit card balance (i.e. Less than £2000)
3. No Loans (Any type of loans like Car, Home improvements etc)
or monthly repayment of £200 or less loan

You need to match all the above three criteria to get a mortgage for the amount and reasonable interest rate you want. Otherwise forget it. Lack of mortgage availability is going to continue to choke the market and if anyone thinks with Government (US and UK) bailing out mortgage lenders will bring out those 125% or 100% or even 95% mortgage out can forget it.

I think we have to be patient and wait for the property market to correct itself. It is not going to crash but reasonable correction like 10-15% from today is very much possible and then we (FTB's) will be able to afford the property we want and the banks can afford to lend us too.

Don't ruin your chance of getting your mortgage in the future by rushing it now and have a "Declined" in your credit file. I think if you are declined for a mortgage once then to get a mortgage in this current market will be even harder. I think it will be well over a year before you can get a mortgage again if you are declined. We might miss the boat when market bottoms out and not get the mortgage when we need to. So we have to build up now and save as much as deposit as possible. Build your credit rating. That's what I'm doing. That's what lot of people are doing.

Before all you bulls or bears whatever you are called start to jump down my throat I want to let you all know I'm not a bull or a bear. I'm a citizen of this country who wants to buy a property and writing down what I think I want to do and what I will be doing. So please if you don't have anything constructive to say then taken your rude comments else where.

justpurchased

formulaonefan wrote: »

I have noticed recently some of the bulls .

I think the new definition is someone not wanting impending financial oblivion. (Apparently I am a bull even tough I expect prices to fall)
But you are right on mortgages, I met all the above and got a mortgage fine. Don’t know if I would if I had any debt.

Dan:_4

formulaonefan wrote: »

I have noticed recently some of the bulls (people who want property prices to go up are called bulls? Am I correct?) are back. Maybe they think they can talk up the market or something? Started to notice posts since stamp duty news and homebuyers direct news. What they all are forgetting is people should first get a mortgage and should be able to afford to buy property.

I can't see this happening any time sooner because I know so many of them (friends, relatives, colleagues) out there who want to buy but could not get a mortgage or the mortgage being offered to them is not enough. If you have a loan or credit card balance then you can kiss good bye the mortgage amount you want. Gone are the days of getting easy mortgage. Lots and lots of people want to buy but No money...No property.

1. 25% deposit (If you have 10-15% deposit then expect high interest rate)
2. No Credit card balance or low credit card balance (i.e. Less than £2000)
3. No Loans (Any type of loans like Car, Home improvements etc)
or monthly repayment of £200 or less loan

You need to match all the above three criteria to get a mortgage for the amount and reasonable interest rate you want. Otherwise forget it. Lack of mortgage availability is going to continue to choke the market and if anyone thinks with Government (US and UK) bailing out mortgage lenders will bring out those 125% or 100% or even 95% mortgage out can forget it.

I think we have to be patient and wait for the property market to correct itself. It is not going to crash but reasonable correction like 10-15% from today is very much possible and then we (FTB's) will be able to afford the property we want and the banks can afford to lend us too.

Don't ruin your chance of getting your mortgage in the future by rushing it now and have a "Declined" in your credit file. I think if you are declined for a mortgage once then to get a mortgage in this current market will be even harder. I think it will be well over a year before you can get a mortgage again if you are declined. We might miss the boat when market bottoms out and not get the mortgage when we need to. So we have to build up now and save as much as deposit as possible. Build your credit rating. That's what I'm doing. That's what lot of people are doing.

Before all you bulls or bears whatever you are called start to jump down my throat I want to let you all know I'm not a bull or a bear. I'm a citizen of this country who wants to buy a property and writing down what I think I want to do and what I will be doing. So please if you don't have anything constructive to say then taken your rude comments else where.

A top post and I agree 100%.

pizzagirl

justpurchased wrote: »

Also have shares fallen 90%?
Did you not say building shares are up only 5% from their bottom? I think TW are up 238% from bottom.
Who needs a maths lesson?
ad44downey Give this one up, you are beginning look a bit foolish!

Most building co. shares went down about 90% from their peak. At least that's what was said on Working Lunch a few weeks ago