NATIONWIDE - Actually, Prices went up

Snooze

Generali wrote: »

When do you think things will turn around StevieJ? Or do you think they have already?

You seem quite dismissive of other peoples' predictions but unwilling to make any of your own. Perhaps I miss you predictive posts as I don't read everything on here.

Notice how StevieJ has deliberately avoided replying to this post but has been busy replying to just about every other topic on the front page. :D:D:D

Would it have something to do with him not liking to have his predictions added in other peoples signature areas, only to be later proved wrong like he has a penchant for doing to other people, per chance? Oh wait...

So before this thread disappears into the ether, I think StevieJ should post with his predictions for where the house prices will be in 6, 12, 18 and 24 months time with either what the average prices will be at those points and/or what the falls/increases from peak will be. And I will add them to my signature area, just in case he forgets . Over to you Stevie .

Rob

dervish

chucky wrote: »

it's actually a fact that someone of minimum wage cannot and will not afford to own a home, fair and accurate point by Dan - so what your point Dervish?

I think my point was the rather 'sneering tone' that Dan's post had rendered his stance less respectable.

dervish

mrstinchcombe wrote: »

Likeweise !!!!!philes have genetically more in common with crabs than they do with you or me. Now that's scientific fact... there's no real evidence for it, but it is scientific fact.

Then I suggest you read another science journal.

Actually that fact is rather like a lot of the facts that many people post here - ie something that sounds clever but hasn't really been thought through.

Thrugelmir

Dithering_Dad wrote: »

I see your logic, but is it not the case that the only time the government dare put up interest rates will be when they feel the country is coming out of recession and can bear the additional strain, otherwise they run the risk of putting us back into recession, or at the least lengthing the downturn?

If that is the case, and interest rates increase when we're coming out of recession then homeowers will feel more secure in their jobs, and hopefully the rate rises will have been telegraphed to the point that most people, who need to, will have arranged fixes. The only homeowners impacted will be the small number of people who have been unwise enough to not fix their mortgages and get hit by higher rates.

The main victims of the governments mismanagement of the economy will once again be those FTBers who originally couldn't afford to buy a home because they were too expensive (due to HPI) and will now be unable to afford a home because the mortgage payments are too high (due to interest rates).

The Government of the day will not have control of market interest rates. To attract investors to purchase the gilts issues, coupon rates will rise. Causing wholesale money markets in the UK to respond likewise.

5 year fixed mortgage rates with no exit penalty are currently well above SVR's. Particularly as the majority carry high arrangement fees which for a smaller FTB mortgage doesn't add up.

If houses are too expensive for FTB's then market forces will drive them downwards. The lower end of the property market more recently has been driven by investors as FTB's weren't able to compete. With mortgage finance not so readily available and yields narrowing towards the cost of borrowing the market has yet to find a natural bottom.

mewbie_2

It's great to see the House Price argument never goes away. Bubbles don't pop a bit, then re inflate.

Like... duh!!!!!

System

mewbie wrote: »

It's great to see the House Price argument never goes away. Bubbles don't pop a bit, then re inflate.

Erm, it's only an analogy, the housing market isn't ACTUALLY a bubble dearest. So it doesn't make a very good basis to prove a point I'm afraid.

Dan:_4

FoxtonsRIP wrote: »

You really are grasping at straws now. So much in fact that I think you should change your name to Desperate Dan. :rotfl:

When my signature says -30% from peak, I will change my user-name to Desperate Dan

the_ash_and_the_oak

Dan: wrote: »

When my signature says -30% from peak, I will change my user-name to Desperate Dan

You don't think its going to reach 30%? (on any index? or a particular one?)

ad44downey

Dan: wrote: »

When my signature says -30% from peak, I will change my user-name to Desperate Dan

Desperate Dan, nice one, I like it. And so appropriate.

Dan:_4

the_ash_and_the_oak wrote: »

You don't think its going to reach 30%? (on any index? or a particular one?)

Any index.