Daily Express Ramping - House Prices Are Up Again!

Dan:_4

Rafter wrote: »

Lending up....... to levels below anything seen in the 20th century

Not true. It's up from this time last year.

Rafter wrote: »

LIBOR down..... but banks don't trust each other to lend for long enough to fund mortgage loans - the only sources of long term funding are savers or the bank of england schemes.

Keep up, this was 2008.

Rafter wrote: »

Market activity is up but again from very low rates.

No one is saying a recovery will happen overnight. It will take years.

Rafter wrote: »

Oh - and most people think unemployment is going to go up by about 1,000,000 in the next 12 months. That is a lot of reposessed houses and mortgage arrears driving down the prices.

Not everyoone out of these 1,000,000 will have a mortgage, and not everyone will end up reposessed from those that do.

Dan:_4

ad9898 wrote: »

I just hope that the ridiculous HPI of 2000-07 is regulated away somehow, it hurts most of the population in one way or another, just at different times of the cycle.

agreed, so do I.

edit: I can see us being back here in 20 years however.

chucky

robin_banks wrote: »

Where is confidence returning ?. Several building societies have just been downgraded.

It takes a considerable amount of time to build up confidence and we have yet to emerge from the recession

of course it has - even the more ngative unreasonable doomer knows that there has been increased confidence in the last 8 weeks in the housing market.

the only person that is comparing to 2007 or earlier is yourself.

chucky

Dan: wrote: »

Yes, I think headlines have been very misleading of late.

not just of late but for they've been misleading for 18 months - headlines sell and many that cannot afford to buy believe that the headlines are getting them closer to be able to afford a house. sadly this isn't and won't be the case.

Dan:_4

chucky wrote: »

not just of late but for they've been misleading for 18 months - headlines sell and many that cannot afford to buy believe that the headlines are getting them closer to be able to afford a house. sadly this isn't and won't be the case.

must be why some posters have been getting abusive this week.

ess0two

Dan: wrote: »

must be why some posters have been getting abusive this week.

People are worried that the more who buy or show an interest will potentially hold the market where it is,thus preventing further falls.

99.998% of the population dont read here,and will buy regardless.

RexBanner

ad9898 wrote: »

Never a truer statement has been said, either here, HPC or any other board discussing house prices, I guess in a way it's like a kind of banter you have down the pub after a few ales. Nobody is going to change sides, but it is kinda fun, except the last week or two, it's been tough for the bears......... it's very difficult to get any other message across when the media is ramping, whether they are right or not, some headlines have been a little misleading over the last couple of weeks.

That sounds like a particularly terrible pub ye go to

matbe

RexBanner wrote: »

That sounds like a particularly terrible pub ye go to

He doesn't go to pubs hes not 18 yet and still lives at home with mum and dad.

Hes just heard dad talking of banter etc.

themanbearpig

chucky wrote: »

many that cannot afford to buy believe that the headlines are getting them closer to be able to afford a house. sadly this isn't and won't be the case.

The headlines of "doom and gloom" havn't been made up. The economy really is in terrible shape, even if you havn't been affect yet. House prices have fallen about 15-20% from peak, even if you think your road is isolated from falls. Anecdotal evidence and a few statistics are just pointing towards a slowdown in falls, but it could just be noisey data, so it will take 6 months before we truely know.
Spring for the housing market, is like christmas for the retail market. I don't think anyone expects things to be slowing down. But those that are choosing to buy now are taking on a liability.

ad9898_3

Well, after listening to the news tonight, this Daily Express headline looks even more laughable than it did this morning. The economy is in such bad shape that, frankly any talk of house prices rises is ridiculous. It seems likely that the taxpayer is going to be the fall guy for between 100 and 200 billion, which has to be paid back, either in tax rises or spending cuts.

HPI is dead for a decade, at least.