the failure to build enough homes in recent years means uk house market could start a

andys15

"the failure to build enough homes in recent years means uk house market could start again before usa" Gordon Brown
"
how long before 100% mortgages are back?

stevetodd

andys15 wrote: »

how long before 100% mortgages are back?

hmmm my guess is 10 years?

EDIT: I think about 6 years really, lenders will not loan 100% until recover is CONFIRMED ie not merely suspected

andys15

my guess is very soon.

adr0ck

i was surprised to learn not so long ago that 100% mortgages were readily available in the early 70's so i can't see them staying away too long

Kez100

No. Once prices fall to a more realistic level, 95% max.

Actually did any of the main lenders now left on the High Street without government support/nationisation ever offer 100% anyway?

Cat695

we're going right round baby right round.....in circles comes to mind

ad9898_3

Their is no shortage, if their is where are the shanty towns ?, the fields full of tents ?, there are none because there is no shortage.

Think of Ashford, I read in the paper that the Wilsons are putting 60 houses on the market next March, no shortage their.

And this is the point, when the Buy Toilet brigade start flooding the market their will be an over supply which will suppress prices further. Only cash rich investers will be able to buy any cheap repos' going,

The johnny come lately BTL'r will be too busy in the bankruptcy courts.

StevieJ

Cat695 wrote: »

we're going right round baby right round.....in circles comes to mind

I get knocked down but I get up again.

dopester

How much does it cost to build a standard 3-bedroom house?

My guess is.. not very much. Certainly a lot less than developers sell them on for.

I'm sure I read a brickie-gang only get (got) paid £800 for laying the bricks for a 3-bed standardish new-build... and that was in the boom - rushing them up.

Bypass developers altogether. Well-built homes can be built via co-operatives like they were in the past.

So labour, which is plentiful and becoming much cheaper, and materials. And land... which I imagine will be falling significantly in price. Maybe 100% mortgages when you only want to borrow £20,000 - £40,000 for a new build house.

Welcome to deflation. Welcome to money, for those who have savings, buying you a lot more of certain items in the future. And welcome to those who fell in love with debt for buying houses realising they are not as wealthy as they believed over the past 10 years.

andys15

ad9898 wrote: »

Their is no shortage, if their is where are the shanty towns ?, the fields full of tents ?, there are none because there is no shortage.

Think of Ashford, I read in the paper that the Wilsons are putting 60 houses on the market next March, no shortage their.

And this is the point, when the Buy Toilet brigade start flooding the market their will be an over supply which will suppress prices further. Only cash rich investers will be able to buy any cheap repos' going,

The johnny come lately BTL'r will be too busy in the bankruptcy courts.

I think he means shortage of quality houses. People wanting to move out of council houses, people wanting to move out of houses which were meant to be temporary houses after ww11. Part of me agrees with high house prices, it creates ambition and makes people work harder(overtime, 2 jobs, getting better grades at school).

pickles110564

dopester wrote: »

How much does it cost to build a standard 3-bedroom house?

My guess is.. not very much. Certainly a lot less than developers sell them on for.

I'm sure I read a brickie-gang only get (got) paid £800 for laying the bricks for a 3-bed standardish new-build... and that was in the boom - rushing them up.

Bypass developers altogether. Well-built homes can be built via co-operatives like they were in the past.

So labour, which is plentiful and becoming much cheaper, and materials. And land... which I imagine will be falling significantly in price. Maybe 100% mortgages when you only want to borrow £20,000 - £40,000 for a new build house.

Welcome to deflation. Welcome to money, for those who have savings, buying you a lot more of certain items in the future. And welcome to those who fell in love with debt for buying houses realising they are not as wealthy as they believed over the past 10 years.

A quality 4 bed deatched house will cost about £120k plus whatever fittings.