Are we in a boom ?

chucky

mbga9pgf wrote: »

Hey Joe, I am not the one in negative equty dude. Dont lecture me about fiscal prudence. And I can assure you I am far from priced out, sitting on a 70K deposit.

hey joe - i didn't realise that you used mbga9pgf as your Mortgage Broker and knew how much you mortgaged for and the value of your house. lucky you!!!

mbga9pgf

chucky wrote: »

hey joe - i didn't realise that you used mbga9pgf as your Mortgage Broker and knew how much you mortgaged for and the value of your house. lucky you!!!

http://forums.moneysavingexpert.com/showpost.html?p=21671453&postcount=9

DYOR

System

mbga9pgf wrote: »

Hey Joe, I am not the one in negative equty dude. Dont lecture me about fiscal prudence. And I can assure you I am far from priced out, sitting on a 70K deposit.

:rotfl:As I said I don't know if I am, and quite frankly I don't care, my mortgage costs me 16.8% of my take home pay, prudent, yes.

I'd rather be in my position that a bitter little scrote ranting on a forum and scouring financial websites trying to find any piece of negative news I can lay my hands on in a bid to talk a market down because I so deperately want a house. What a very sad, sad existence that must be.

adr0ck

mbga9pgf average prices 25 years ago were something like £30,000

average prices now are something like £150,000 and will probably fall to £140,000

i cannot believe based on average prices 25 years ago were something like £30,000 that average prices in 2034 will be less than £170,000

mbga9pgf

You dont care? I bet you do really, deep down....

Well joe, not as glum as you will be when you are firmly entrenched in negative equity wondering why you bothered to go out and buy a pathetic little box of a home.... Further falls to come later this year....

If you have nothing to contribute to the thread, do you mind going somewhere else? Unless you have something construcitve to contribute to the discussion that is?

Or did I just touch a nerve?

JayScottGreenspan

Oi, you lot. Read this:

MSE_Andrea wrote: »

Hi everyone!

We really shouldn't have to say this but please, you can all make your points, whatever they are, without being rude and personal to and about others. There's just no need for it.

If anyone sees this happening please do report the post/thread by hitting the red triangle.

Thanks for your help

Andrea

http://forums.moneysavingexpert.com/showthread.html?t=859707

System

mbga9pgf wrote: »

Well joe, not as glum as you will be when you are firmly entrenched in negative equity wondering why you bothered to go out and buy a pathetic little box of a home....

Ahhh, more of your inaccurate wild assumptions and predictions, getting used to those now.

mbga9pgf wrote: »

If you have nothing to contribute to the thread, do you mind going somewhere else? Unless you have something construcitve to contribute to the discussion that is?

And some delicious irony on top, cracking stuff.

mbga9pgf wrote: »

Or did I just touch a nerve?

I'm pretty sure we've already established that this isn't case, do keep up sonnyjim, perhaps you should type another reply in shouty capital letters.

mbga9pgf

adr0ck wrote: »

mbga9pgf average prices 25 years ago were something like £30,000

average prices now are something like £150,000 and will probably fall to £140,000

i cannot believe based on average prices 25 years ago were something like £30,000 that average prices in 2034 will be less than £170,000

You arent listening to me; look at salaries 25 years ago compared to today... wind that forward to the future.. You cant say "well, house prices have gone up 10% but my salary has gone up 10% so I am in the money".... To that end, whether you like it or not, housing is a relatively neutral 'investment' (I hate that word in terms of housing). IT is cost neutral. Housing will cost the same in 10 years as it does today. Unfortunately, the past 10 years of greed and exuberance have turned the housing market into more of an equities market, hance the rediculous levels of growth. It could never last for ever and it didnt, as we now see.

As I have pointed out, the last 10 years in particular were very, very unusual for the housing market, they were far from typical due to the housing (credit actually) boom. Of course house prices will be above 170,000 in 2034, I do not disagree with this. What is irrelevant though is the fact that wages are likely to outgrow housing for the forseeable, then prices will likely climb with wages therafter. There will be mini-booms, yes, but nothing like what we have seen in the run-up to 2007. To this end, I believe real prices will not exceed their 2007 peak, and certainly not in my lifetime.

What I am trying to say:

take annual House price rise. Take away CPI or even RPIX. That figure is your 'gain' for that year in terms of wealth growth. I am saying that this growth will never reach anywhere near the peak of 2007 without another credit boom. Which with damaged bank balance sheets, isnt going to happen for a VERY long time.

ess0two

Gasps at the desperation of some buyers..........

mbga9pgf

ess0two wrote: »

Gasps at the desperation of some buyers..........

Which sock puppet are you then? Or is that another, highly informative post from someone up to their neck in BTL?