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Debate House Prices
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Halifax December Figures -2.2%
Comments
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neverdespairgirl wrote: »I had a punt on Ladbrokes that house prices would fall in 2008. Not paid out yet, but I'm due my cash <ker-ching>
Good lass.
Seems like just the two of us then.
(The only other person who thanked kennyboy66 was carolt and I know she didn't bet as she was asking about it only a couple of months ago)
How you spending yours? Or are you going to annoy Gordo by saving it? 0 -
The market is driven by first time buyers.
October statistics from CML show income multiples of 3.10 and LTV of 83%
Under Advances, gross
First-time buyers, lending and affordability:
http://www.cml.org.uk/cml/statistics0 -
Trollfever wrote: »The market is driven by first time buyers.
October statistics from CML show income multiples of 3.10 and LTV of 83%
Under Advances, gross
First-time buyers, lending and affordability:
http://www.cml.org.uk/cml/statistics
I thought the Average wage was about 25k ... 3.5 x 25k = £88 k ..
or 2.5 x Joint income ..0 -
Yes, and I took it up....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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JonnyBravo wrote: »How you spending yours? Or are you going to annoy Gordo by saving it?
I might save it just to spite him!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Never quite understood this from proberdee investors. So when prices are rising, it's a great time to invest as you get the big capital gains, and when prices are falling, it's a great time to invest, because you can snap up properties cheaply. Is there ever a bad time to invest in property?
I am not a properdee investor, if I invested in property it would be in a stock market fund.'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 -
You need to be a member to view the graph.
You're not missing much, it's kind of lame. Here it is:
The blue line is the average house price, the red line is "the affordability index (which I have assumed comes from the incomes reported on their mortgage applications) divided by the house price times 3.5." poppy100 -
By the way it is a bit simplistic to say prices will stop falling when it reaches a certain ratio of salaries. There are too many varibles that will upset that which i believe will mean an over correction.
When you have got this much momentum in price falls, fast rising unemployment, indebted banks, housing fraud and poor sentiment the market is going to act like a runaway train.
Preasure is building and it is likely to go almighty pop, maybe as soon as January when Taylor Wimpy goes bust. The housing market has never had such a large bubble before. Bank losses will be huge and they may not even be able to lend 3.5 x salary resulting in even lower prices.
:eek:
This is housing rubbernecking at its best.:D:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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I thought the Average wage was about 25k ... 3.5 x 25k = £88 k ..
or 2.5 x Joint income ..
The average wage is going to tank. Don't you get it yet.
Honestly. You all do my head in. You really are all tripping off your heads when you bandy around £25K and £30Ks in averages for your expectations for the future.
Welcome to deflation, pay-cuts and unemployment.. unstoppable.0
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