The 70% club

dopester

Well I'm guessing he's on £50K per year, so according to one person's account here recently, that puts him in top 10% of UK earners?

And not loaded, but when your circumstances change as catches many people out for one reason or another, and the mortgage you calculated as affordable to pay back is now being met by one earner, instead of two.

macaque_2

StevieJ wrote: »

I wouldn't worry, they are not going to fall by 70%.

Other famous last words:

"In my view, a sub-prime-fuelled housing market crash in the UK is extremely unlikely -- in fact, just about as likely as a Martian invasion."Donna Werbner, News Editor of yourmortgage.co.ukOctober 2007

"The UK economy is in a strong position. Sound market fundamentals, including high levels of employment and a shortage of properties available for sale, will continue to support house prices."Martin Ellis, chief economist at the HalifaxOctober 2007


"A lack of homes for sale and buy-to-let demand continues to support prices and prevent the crash that some commentators are predicting."Simon Rubinsohn, chief economist with the Royal Institution Of Chartered SurveyorsOctober 2007

"We're going to see a slowdown in house-price growth. They will rise more slowly than in recent years but we expect prices to continue to increase."Martin Ellis, chief economist at the HalifaxOctober 2007
"First-time buyers should not be banking on a blanket reduction either this year or in the foreseeable future."Dean Sanderson, M.D. Sanderson JamesJanuary 2008

fatpig_2

macaque wrote: »

Other famous last words:

Also another classic:

"House prices only ever go UP UP UP"
Krusty and Phil spender, property 'experts' 1997 -2007

ad9898_3

fatpig wrote: »

Also another classic:

"House prices only ever go UP UP UP"
Krusty and Phil spender, property 'experts' 1997 -2007

That should read ' Krustie and Spendor, property experts (in their own minds) Born 1997- Died 2007.

sabretoothtigger

Heres a funny video,

Schiff:'we havent increased production values, all thats increased is paper values, thats not real wealth'
Former Reagan adviser: 'of course it is'

http://uk.youtube.com/watch?v=2I0QN-FYkpw&eurl=http://andrewsullivan.theatlantic.com/the_daily_dish/2008/11/vindication.html#

adr0ck

dopester wrote: »

You've had my clear explanation on how it can very easily happen, with the logic behind it. Examine other crashes in history for evidence on how it has happened before. Realities come crashing down for people who've placed their bets just in one direction. Mind-melting consequences.

.

you haven't provided any explanation at all

another dopey post by dopester

with another thanks by neverstopclickingthanksgirl to dopeys post

come on neverdespairgirl i thought you were a lawyer

this isn't rocket science

dopester, neverdespairgirl and everyone else who clicks thanks to dopesters posts regarding this issue i challange any of you to advise how you can build a new home to code for sutainable homes level 3 for £56K

if you can't your all just proving that you have no idea at all what you are talking about

which as far as i'm concerned is a given

please prove me wrong

StevieJ

macaque wrote: »

Other famous last words:

"In my view, a sub-prime-fuelled housing market crash in the UK is extremely unlikely -- in fact, just about as likely as a Martian invasion."Donna Werbner, News Editor of yourmortgage.co.ukOctober 2007

"The UK economy is in a strong position. Sound market fundamentals, including high levels of employment and a shortage of properties available for sale, will continue to support house prices."Martin Ellis, chief economist at the HalifaxOctober 2007


"A lack of homes for sale and buy-to-let demand continues to support prices and prevent the crash that some commentators are predicting."Simon Rubinsohn, chief economist with the Royal Institution Of Chartered SurveyorsOctober 2007

"We're going to see a slowdown in house-price growth. They will rise more slowly than in recent years but we expect prices to continue to increase."Martin Ellis, chief economist at the HalifaxOctober 2007
"First-time buyers should not be banking on a blanket reduction either this year or in the foreseeable future."Dean Sanderson, M.D. Sanderson JamesJanuary 2008

I am starting to think that you actually believe 70%, I thought you were joking :rotfl:

dopester

adr0ck wrote: »

dopester, neverdespairgirl and everyone else who clicks thanks to dopesters posts regarding this issue i challange any of you to advise how you can build a new home to code for sutainable homes level 3 for £56K

Because the value of development land can crash spectacularly, and seen in other crashes. Especially when hard-up holders of plots and land banks and plots need to raise funds, but credit and money is tight.

The building trade is being hit hard with job losses, and prices of materials can be negotiated, where there is much surplus just sitting around, there to be liquidated.

As for all your codes, I confess I'm not knowledgeable about them, but fancy codes about highest-spec won't keep new house prices high in circumstances I've outlined above. People still need to earn money to survive.

Want me to link to a builder's story from the last mini-crash of doing work for 1/3rd the wage rate of what he charged in the boom? And I suspect planning authorities may be more amenable to some developments if it is putting people in to work and allowing money to flow.

adr0ck

dopester wrote: »

Because the value of development land can crash spectacularly, and seen in other crashes. Especially when hard-up holders of plots and land banks and plots need to raise funds, but credit and money is tight.

The building trade is being hit hard with job losses, and prices of materials can be negotiated, where there is much surplus just sitting around, there to be liquidated.

As for all your codes, I confess I'm not knowledgeable about them, but fancy codes about highest-spec won't keep new house prices high in circumstances I've outlined above. People still need to earn money to survive.

Want me to link to a builder's story from the last mini-crash of doing work for 1/3rd the wage rate of what he charged in the boom? And I suspect planning authorities may be more amenable to some developments if it is putting people in to work and allowing money to flow.

i stated above that even if builders paid minimum wage and material costs halved you still could not do it

love your comment about fancy codes

proves you know absolutely nothing about building houses

its not the highest spec dopester its the minimum spec

ManAtHome

OMG, I've joined the level-5 Dopester-thankers - even though he missed the bit about the yellow-stripey govt conveiently forgetting about level-anythings when the !!!!!! hits the fan...