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Debate House Prices
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Why Attack People with Bad News?
Comments
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(It might be bad news for a load of amateur BTLers who didn't do the sums before jumping into the market but they have to be responsible for their own financial decisions.)
It might be bad news for those investors.
Similarly, there are likely to be far more Owner Occupiers affected (as statistically there are more of them than BTL)
this is not restricted or indeed caused by BTL investors:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
I thought you were against personal attacks.:rotfl:
If you are going to accusing me of posting out of an inflated sense of self importance I certainly feel it's fair game to highlight the big deal you made, some time back, of flouncing off from this board before coming back - apparently unable to stay away.--
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 -
IveSeenTheLight wrote: »It might be bad news for those investors.
Similarly, there are likely to be far more Owner Occupiers affected (as statistically there are more of them than BTL)
this is not restricted or indeed caused by BTL investors
As an overall percentage of OO's, I'll bet people who end up in negative equity even at the trough point of this recession make a very small part of the overall property owning base.
By the end of the boom, the market was more or less being driven by investors and speculators as the percentage of FTBs fell to ever smaller and smaller levels.
The bottom line is that those disadvantaged by this 'correction' in prices are going to be in the minority of property owners - whereas a whole slew of FTBs at last have the chance to buy without taking on a massive debt burden.
Unless the government engineer an inflationary boom again of course.--
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 -
If you are going to accusing me of posting out of an inflated sense of self importance I certainly feel it's fair game to highlight the big deal you made, some time back, of flouncing off from this board before coming back - apparently unable to stay away.
I quiet like it !!!!!! do it again.:D0 -
As an overall percentage of OO's, I'll bet people who end up in negative equity even at the trough point of this recession make a very small part of the overall property owning base.
Interesting wording.
Woudl you bet that there will be more BTL reposessions than OO reposessions?
Remember the amount of BTL mortgages is a fraction of OO mortgages:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Interesting wording.
Woudl you bet that there will be more BTL reposessions than OO reposessions?
Remember the amount of BTL mortgages is a fraction of OO mortgages
No idea - but I bet there will be lots of amateur BTLers hitting the buffers soon. With the way prices went, there can be few in the last couple of years for whom the sums worked out. It was all about the carrot of capital appreciation for them.
In the Owner/Occupier sphere, there will be grief and a lot of worrying amongst recent entrants to the market but anyone keeping their job should at least muddle through. Until the interest rates go back up anway, which is when the pressure will really start.
Those recent FTBers who are unlucky enough to lose their job are royally scrwed as they'll have no hope of sustaining payments for any amount of time and will have to hope that the welfare state bails them out with interest payments (and that the lender will re-jig to IO).
In other words, it's BTL that will suffer the most obvious pain. Just too many people jumping on the bandwagon, too late.--
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 -
No idea - but I bet there will be lots of amateur BTLers hitting the buffers soon. With the way prices went, there can be few in the last couple of years for whom the sums worked out. It was all about the carrot of capital appreciation for them.
Classic case of generalisation and stereotyping response.
Do you know this for certain or is it just a personal opinion?
I must be one of the few who bought in the last couple of years where the figures worked out. Bought in 2007 and going very nicely.
Maybe there are more of us than you think.
Maybe your right, but it becomes area dependentIn the Owner/Occupier sphere, there will be grief and a lot of worrying amongst recent entrants to the market but anyone keeping their job should at least muddle through. Until the interest rates go back up anway, which is when the pressure will really start.
What difference will there be in the BTL market.
Replace "anyone keeping their jobs" with "anyone keeping their property occupied with tenants"Those recent FTBers who are unlucky enough to lose their job are royally scrwed as they'll have no hope of sustaining payments for any amount of time and will have to hope that the welfare state bails them out with interest payments (and that the lender will re-jig to IO).
In other words, it's BTL that will suffer the most obvious pain. Just too many people jumping on the bandwagon, too late.
Still don't see how you justified this with facts, just your personal opinion I see:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
'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
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IveSeenTheLight wrote: »Classic case of generalisation and stereotyping response.
Do you know this for certain or is it just a personal opinion?
I must be one of the few who bought in the last couple of years where the figures worked out. Bought in 2007 and going very nicely.
Maybe there are more of us than you think.
Maybe your right, but it becomes area dependent
What difference will there be in the BTL market.
Replace "anyone keeping their jobs" with "anyone keeping their property occupied with tenants"
Still don't see how you justified this with facts, just your personal opinion I see
I must say I have never noticed you under pressure (it does often show in posting style). I actually sense more stress in the Uber bears :eek:'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
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