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Debate House Prices
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Bloody hell - it's MELTDOWN on the FTSE
WTF?_2
Posts: 4,592 Forumite
Down almost 6% as we speak.
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Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
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Comments
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It was down 7.7% at one point!!!!!!
Back to -5.75% now....Spring into Spring 2015 - 0.7/12lb0 -
The bottom is only reached when all the bulls completely capitulate - when will that be?
Turn your face to the sun and the shadows fall behind you.0 -
I think we have to accept worse case scenario in there today..I don't think th question is how low they will go now, personally.0
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Absolute capitulation would be when people just decide to dump shares, period.
Yes, the fundamentals of the economy are rubbish but this is just blind panic. There are plenty of companies out there who are going to be profitable and return good solid dividends yet they are being sold-off en masse.
This is seriously, seriously, bad.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
The FTSE 100 peaked last year at about 6600, its at 4362 as of 9.45 !!! a 34% drop !!! :eek: Its quite likely that House prices will drop a similar figure !!0
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This is seriously worrying. For people like me, with not long to go before retirement, we can only hope that things will pick up fairly quickly. Funny old world the investment game.
They said buy into a pension and then the annuity rates came down. Get an endowment mortgage and get loads of surplus when it pays out, yea right!0 -
This is seriously worrying. For people like me, with not long to go before retirement, we can only hope that things will pick up fairly quickly. Funny old world the investment game.
They said buy into a pension and then the annuity rates came down. Get an endowment mortgage and get loads of surplus when it pays out, yea right!
Pobby I agree, but I hope mot people approaching retirement have mortgage paid off. On the news yesterday lunch on ITV they were syaing it was worse for people about to take pension, but I don't think thats quite true if they are property owners, proper property owners I mean...different to mortage payers, not because they have an investment, but because essential outgoings are limited. If worse came to the worse you could 'dig for solvency' and grow veg while not paying rent/mortgage...or get a younger neighbour to do the digging for a share of produce. I feel terribly sorry, setting aside the rights and wrongs of their decisions, for people trapped in home ownership with a bank and little equity, who are somewhat tied in to their debt. I feel hesitant for people like me who have some cash worth, which has been falling in purhasing power with inflation and who now are wondering if there is anywhere safe to hide it. My feeling is that they'll fight harder to preserve our debt than our wealth!!!! I hope I'm wrong.0 -
Yes i am in a fortunate position to have the mortgage paid off. I do have cash ISAs and savings but the majority is in pensions and lowish risk investment bonds which are locked up for another 4 years. Rather glad of the latter as I am prone to panic and might well have cashed out therefore crystalising the loses.
My only hope is, as always has happened, that they will recover over the next few years as it has been in the past but who knows.I do at least have enough liquid cash to subsidise our state pension and that would give us a few more years before we needed to draw on other funds.0 -
Absolute capitulation would be when people just decide to dump shares, period.
Yes, the fundamentals of the economy are rubbish but this is just blind panic. There are plenty of companies out there who are going to be profitable and return good solid dividends yet they are being sold-off en masse.
This is seriously, seriously, bad.
Or seriously good with your big fat cash balance, fill your boots.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Or seriously good with your big fat cash balance, fill your boots.
Nope - the cash goes to buying a house, the prices of which are still heading in the right direction. :money:--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0
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