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Debate House Prices
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Property will stay in the doldrums
Comments
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how could anyone have grudges against anoymous people on the internet!?!?Dithering_Dad wrote: »Oh dear, I see !!!!!!? is having another argument :rolleyes: I can't see why he simply doesn't get along with people.
It's only a forum !!!!!!? not life, it's silly to hold grudges and emnities with strangers who you are never likely to meet, just because they make you look foolish. Tsk. Tsk.
It's a shame that !!!!!! doesn't put as much effort into his 'real' life as he does into his MSE life. He might then possibly settle down with a nice young lady (or guy if that's his bag) and get rid of a lot of the aggression he vents on we poor unfortunate MSE souls.
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Some of my landlords recently took trackers with Bank Of Ireland and others, and the retail rates they are paying on B2L are 4.49% now. Could be sub 4% before too long, and the gross yields being achieved are 6 - 8%. Persoanlly I think 8% is the figure to buy at.
If you take a 5 - 10yr view, even buying now when perhaps prices have further to fall, is not unattractive.0 -
Some of my landlords recently took trackers with Bank Of Ireland and others, and the retail rates they are paying on B2L are 4.49% now. Could be sub 4% before too long, and the gross yields being achieved are 6 - 8%. Persoanlly I think 8% is the figure to buy at.
If you take a 5 - 10yr view, even buying now when perhaps prices have further to fall, is not unattractive.
If we get inflation in a couple of years and the economy manages to stay afloat for a few years after that it might even be the smart move. But it's a very big gamble.
If we see longer term deflation (which supposedly is so surefire that it warrants extreme measures), then buying now and borrowing to do so is suicide.
Of course, Brown and the other bigwigs whose policies got us into this mess, and who totally failed to spot any of this coming, may well have the policies which exactly cancel out deflation with inflation and all will be well........ Don't hold your breath for that one.--
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 -
http://www.ft.com/cms/s/0/43533408-acf6-11dd-971e-000077b07658.html
By the lovely - and usually correct - Merryn Somerset Webb.
"Earlier this week, a TV company called me with a question. When it interviewed me about property prices a few weeks ago, I said that it was entirely possible that house prices would fall 60 per cent before the current crash called it a day. Had I really meant it, and, if so, was I OK with the comment making it into the programme? I was. I don’t actually think prices will fall 60 per cent – 40 per cent would be more realistic – but given how far markets, and illiquid markets in particular, overshoot on both the way up and the way down it didn’t seem impossible at the time. After all, the auction houses were already saying that they see prices down not far off 30 per cent.
The next day, the Bank of England cut interest rates from 4.5 per cent to 3 per cent making me wonder if I should think about being a bit more optimistic about things. But, however hard I try, I still can’t see how the rate cut will make things much better for the housing market. For starters, it doesn’t help most of those looking for a new mortgage....
....The second thing to note is that regardless of what base rates are, if the banks don’t fancy lending they won’t lend – at any price. I was reminiscing with a colleague from my stock-broking days about how when we first arrived in Japan and found interest rates below 1 per cent, we couldn’t understand why everyone didn’t buy houses. Only later did we see that cheap mortgages were only available to a few risk-free customers – middle-aged men of a certain status and income level. Everyone else was excluded from the market: if they wanted to borrow money, they had to do so via the consumer finance companies at 20 per cent-plus.
Things aren’t quite that bad here yet but the banks are clearly more risk-averse than they have been for many years. The best deals on the market require deposits of 40 or 50 per cent and anyone with a remotely iffy credit rating hasn’t a chance of getting even the worst deals.
So the point stands: if you can’t get a loan, what difference does it make that base rates are the lowest they have been since the 1950s? We endlessly hear, not least from Gordon Brown, about how there is massive “pent-up demand” for property in the UK. But this isn’t a concept that makes any sense in economic terms: demand isn’t demand unless it is backed by cash.
In my household, there is pent-up demand for a bottomless bottle of Ren rose bath oil, for a brand- new VW Jetta (diesel) and for a very bling yellow diamond necklace. But is this demand going to push up the prices of these items? Of course not. Not unless someone dumps a pile of money to splurge on our doorstep. Which they won’t. These days no one dumps money on anyone’s doorstep.
And that, combined with the miserable sentiment across the market to say nothing of rising unemployment, is why, however low interest rates go, house prices aren’t going to stop falling."
Everyone is entitled to their opinion. Wonder if 2% base rates by february will change things?0 -
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yes you right - unecessary. i've deleted my post.
those of you who criticised my post should really look around at the other posts that Downey and the other user names that she has uses post.
let's see if you have double standards or not.
I think you are VERY VERY VERY lucky to be able to be able to still post here...0 -
what a coincidence that the self proclaimed King of the Forum, the man with the biggest double standards and also the biggest hypocryte has arrived along with his other usenames right on cue and only 7 minutes apart...
people don't forget what a racist, ignorant and sad little man that you are unfortunately
don't spoil it for others !!!!!! - this forum isn't just for you...
no anger here - don't forget it's a only an internet forum !!!!!!, there are other things that you can do with your life...
let me add a couple of these to show you my mood :rotfl: :rotfl:
and then you foolow it up with this...
Personal attacks are against forum rules. I have reporte this.0 -
and then you foolow it up with this...
Personal attacks are against forum rules. I have reporte this.
Oh its you again, in a rush to post that were you.
Actually I have a great website for you, it is stuck in the past as well.
http://www.sterlingtimes.co.uk/'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 -
possibly the horriblest post i have ever read onthis site!
please apologise.
Out of date again
yes you right - unecessary. i've deleted my post.
those of you who criticised my post should really look around at the other posts that Downey and the other user names that she has uses post.
let's see if you have double standards or not.'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 -
Out of date again
yes you right - unecessary. i've deleted my post.
those of you who criticised my post should really look around at the other posts that Downey and the other user names that she has uses post.
let's see if you have double standards or not.
are yousaying you are Chucky?!?
:eek:0
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