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Debate House Prices
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Nationwide "Real" House Price Index rose 1.6% in June
Comments
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HAMISH_MCTAVISH wrote: »
.......... There will always be a few losers though, with yourself at the head of that Q......;)
Yes there will be losers.
What I am saying is the losers should be those in negative equity.
Or those looking to downsize and expecting someone else to take on enormous debt to buy their house.
etc, etc,
You have to realise that when houses increase in value, all that has happened is more money (debt) has been created.
The house itself is still the same. Or in some cases actually deteriorated
As for me, I own my house outright. Unlike you, who bought at the top of the market and are now desparate for HPI to bail you out.
Good luck with that by the way McTwatish."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
As for me, I own my house outright. Unlike you, who bought at the top of the market and are now desparate for HPI to bail you out.
You must have been quite fortunate to have sold your inherited property within the last 6 weeks.
What does that say about the demand in that area?
I don't think the fortune of getting an inherited house and then selling is justification to brag about being mortgage free
http://forums.moneysavingexpert.com/showpost.html?p=21989757&postcount=11:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
As for me, I own my house outright. Unlike you, who bought at the top of the market and are now desparate for HPI to bail you out.
Good luck with that by the way McTwatish.
LOL. I also own a house outright, and unlike you I paid for it myself. I also own a second that I admittedly bought closer to peak. However given that prices where I bought it have yet to drop back to Mar 2007 levels, and managed to rise 6.5% last month alone, I am not particularly worried.
And being not quite 40 yet, I stand to inherit another property at some point along the line, but hopefully not for many years or decades yet. My financial future is secure, and a large part of that is through property. Why would that bother you so much??? I wonder.......
Oh, and all the childish name calling in the world won't change the fact that HPI on a massive scale is inevitable over the next few decades.
Those with multiple properties will make a killing. Those without any will miss out.
We will never again see Price/Income ratios as low as they are this year and early next. The next 6-9 months will present the buying opportunity of a lifetime.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »No, thats not right.
Rising prices are good news for the 10 million or so who are mortgage free and may need to sell up to downsize for retirement.
And saddle the next generation with the debt.
Rising prices are good news for the close to 5 million who are in negative equity or close to it.
Who paid too much for their houses or MEWed without considering that house prices can go down as well as up.
Rising prices are good news for the couple of million with investment properties.
Who were planning to make money by saddling other people with debt.
Rising prices are good news for those who may need to remortgage and aren't currently eligible for the best deals due to LTV.
Who overpaid for their properties or didn't consider that house prices can go down as well as up and banks can withdraw credit facilities.
Rising prices are good news for the wider economy as MEW was 8% of consumer spending.
Borrowing on the basis of ever-rising house prices has now been shown to be the epitome of foolishness. That 8% addition to consumer spending always was unsustainable. MEW still has to be paid back sometime.
In fact, rising prices are only bad news for FTB's, for those who may want to upsize (and even then it's debatable) and for the STR speculators.
And falling prices are very bad for you, Hamish. Unless they inherit a property, most people start off as FTBs.
Rising prices are good for the majority, and bad for the minority.
The rising prices that you are so keen to return were unsustainable. Face facts, it was a bubble. Bubbles are not good for the long-term health of the economy, a lot of people end up losing money when they burst.
I see that you've started infesting this forum now that HPC have marked you down as a troll.0 -
HousingBear wrote: »
I see that you've started infesting this forum now that HPC have marked you down as a troll.
Indeed. And I'm Liking this place a lot, no censorship of positive posts/threads, no politically motivated troll designations, no infestation by manically depressed bears. Fab.
Although now that HPC has banned the bulls again, it's a sure sign that prices are set to rise. The HPC Mods are the ultimate belweather of rising prices.:D
They did it in 03 from the old BB, and prices rose. They did it again in 05 from the current site, and prices rose. They've done it again today, and prices are rising.:T
There is now a statistically significant relationship between HPC bull purges and rising prices.:rotfl:
If I'd known it was that easy to get prices to rise, I'd have got myself banned ages ago.:beer:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Why do we now seem to be focusing on feb onwards?
Why are we suddenly not focusing on the longer term trends?
Why do we have to miss out januarys drop of near £5,000?
It is silly to try and focus on February onwards, the biggest time for house sales and call it the recovery point. Just caught up on a few threads today and all I can see is February everywhere.
I miss the mention of Merthr Tydvil and it's corresponding LR graph on every thread. It seems to have been dumped for "february" as the new buzz thing.0 -
HAMISH_MCTAVISH wrote: »No, thats not right.
Rising prices are good news for the 10 million or so who are mortgage free and may need to sell up to downsize for retirement.
Rising prices are good news for the close to 5 million who are in negative equity or close to it.
Rising prices are good news for the couple of million with investment properties.
Rising prices are good news for those who may need to remortgage and aren't currently eligible for the best deals due to LTV.
Rising prices are good news for the wider economy as MEW was 8% of consumer spending.
In fact, rising prices are only bad news for FTB's, for those who may want to upsize (and even then it's debatable) and for the STR speculators.
Rising prices are good for the majority, and bad for the minority.
Rubbish.
Rising prices is bad for ALL of those people, as a crash in inevitable as the prices always rise ahead of inflation.
ALL those people you mention have only been stung because house prices rose too much. So it wasnt good for them at all.
A rise of 2-3% per YEAR would have been good for all of those people, as they wouldn't face all the problems they now face. You are looking at it from an extremely narrow viewpoint.
If people can't afford the rising house prices, the rises themselves are pointless and mean nothing.0 -
Graham_Devon wrote: »A rise of 2-3% per YEAR would have been good for all of those people, as they wouldn't face all the problems they now face. You are looking at it from an extremely narrow viewpoint.
So to save any further grief for those that bought, are you in agreement for a 2-3% increase per year from now?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
HAMISH_MCTAVISH wrote: »Indeed. And I'm Liking this place a lot, no censorship of positive posts/threads, no politically motivated troll designations, no infestation by manically depressed bears. Fab.
Have you ever considered doing something that doesn't involve endless posting on bulletin boards?
Working for a homeless charity?
Being nice to animals or the elderly, for example?
If your hobbies still need to include posting, why don't you try posting on Singing Pig? They'd love to have someone positive on there. Or would that take the fun out of it for you?0 -
HAMISH_MCTAVISH wrote: »:rolleyes:
Thats a 1.6% month on month increase. Which is equivalent to an annualised rate of 19.2%..... In the middle of a recession. !!!!!! did you expect from a single month increase????
Prices are now up for 5 months in a row.
Seems pretty good work to me.:D
Spring time, record low interest rates, government attempting to postpone reposession and very low numbers of properties on the Market. This is as good as it will EVER get for property. The game is currently rigged. Rising unemployment, rising interest rates, pent up supply due to the "rent it out instead brigade", rising repossession rates, wage deflation, rising food prices. It is hard to believe that we won't see further signficant falls.0
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