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

adr0ck

steadysaver wrote: »

This is something that always struck me when people say oh I made x £ profit on my house. They never seem to factor in what they paid in interest.

i think that would be what they would have paid in rent

andys15

I am not trying to talk up anything, it is a quote from gordon brown, yesterday. He also said yesterday by "accident" about returning to 2007 levels. I am merely stating that if quotes like this are headlines in paper, then the market will recover because that is how we work as humans. It is like the RICS report yesterday if the headline on the front of the sun is house sales worst for 30 years then it reaffirms peoples decision not to buy. BUT also in the RICS report yesterday was house enquiries highest for 14 months, now if this was reported strongly it would get people thinking.

pickles110564

hethmar wrote: »

I had to larf at the £800 for a gang of brickies to build a house. You are kidding arent you! They would charge that for a days pay. Digging the foundations alone would be several thousand, let alone the materials needed.

Not quite right, A man and his digger to do the footings only would cost £150 cash ( I know this because I have paid this on the last two we have done).
Brickies charge about £140 each a day cash.
On average you would be lucky to get a detached house built by a gang in less than 4 weeks.

pickles110564

andys15 wrote: »

I am not trying to talk up anything, it is a quote from gordon brown, yesterday. He also said yesterday by "accident" about returning to 2007 levels. I am merely stating that if quotes like this are headlines in paper, then the market will recover because that is how we work as humans. It is like the RICS report yesterday if the headline on the front of the sun is house sales worst for 30 years then it reaffirms peoples decision not to buy. BUT also in the RICS report yesterday was house enquiries highest for 14 months, now if this was reported strongly it would get people thinking.

There is no chance of a recovery as early as u think and 100% mortgages are gone for a very long time, bout time you got real son!

andys15

pickles110564 wrote: »

There is no chance of a recovery as early as u think and 100% mortgages are gone for a very long time, bout time you got real son!

ok firstly i am not your son.

secondly i have not talked about a recovery

i am tallking about how the media report things.

headline===house slump worst for 30 years

or

headline---house enquirys highest for 16 months.

these figures are from the same report. how the media report this as a headline would cause a reaction in people.

sabretoothtigger

I think some recovery next year isnt infeasible but its probably the best case scenario and 100% never was sound lending was it, maybe outlawed in future

olly300

sabretoothtigger wrote: »

I think some recovery next year isnt infeasible but its probably the best case scenario and 100% never was sound lending was it, maybe outlawed in future

Other posters on other threads have indicated there where 100% mortgages available in the 80's.

So unfortunately they will come round again probably under a completely different name, but only in the next house price bubble in the next 8 - 15 years. After all the bankers and financial whiz kids who got us in this trouble weren't around in the 80's.

The main issue this time though is the population of this country (in general) has too much unsecured debt per adult.

Now 125% was a new and very stupid idea.

Kez100

We got 95% in the early 90's but they would add product fees and the mortgage insurance we had topay to that so, perhaps, 97%/98% or so.

It's all a case of degree. Not so bad offering higher multiple when you know the market is sensibly priced. Once you get a bubble the deposits ought to rise for security reasons and by doing so will help alleviate a bubble a bit as well.

There certainly is a lot of debt out there to be repaid.

mewbie_2

There were dodgy mortgage applications around in 1998...

http://news.bbc.co.uk/1/hi/uk_politics/241684.stm

and 2006...

http://www.guardian.co.uk/politics/2006/feb/27/pressandpublishing.italy

ginandtonic1988

Dodgy Mortgages and 100% mortgages were around in 1990, it was for that reason that I lost my first house in the last recession. The years and the pain it caused us I wouldn't want to repeat again. I really feel sorry for the people who are going to go through the same thing in the next few years.....