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Debate House Prices
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Ban on 100% mortgages to be dropped.
Comments
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It doesnt make a difference. And, no mention of Multiples limits in the article, a much fairer and effective way of controlling the market. No interference from rich parents for example.
The next 12 months will prove your "bump along the bottom" theory completely wrong. No YOY positive till 2013 at the earliest.
No YoY positive til 2011 is possible. But 2013 is ridiculous. You have no idea how much pent up demand is building, both in terms of housing need, and in terms of global liquidity looking for returns.
As for "rich parents", LTI limits won't stop that as it's loan to income, not purchase price to income that is of concern to the banks. And they were also dismissed by the FSA last week in the interview to the treasury select committee.“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 -
in terms of global liquidity looking for returns.
Are you stoopid or have you forgotten that since 2007, over 4 trillion dollars has disappeared?You have no idea how much pent up demand is building,
Oh, I do, but without a 25% deposit and mortgage within 3.5X salary, demand can build all it wants. No fix for the global lending markets till late 2011, by the time this second round of bailouts happens, the appetite for risk will have been shot to pieces. Not forgetting, a change of government is going to prostrate the FSA and put the BOE in top spot. The BOE were never keen on record lending and will start to do the job the FSA should have been doing since 2001.0 -
Agreed, however there will be no YoY rises in the housing market for many years, possibly a decade.
:rotfl:
It's almost a religion with you lot now, isn't it?
Blind belief that prices must fall, if we just have faith, and read enough bearish articles, they must.... They really, really, really, really must......
Completely ignoring the massive shortages of housing, increasing population, increasing liquidity, constrained supply, etc etc etc, and just squeezing your eyes shut and hoping for miracles.
Interesting.:D“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 YoY positive til 2011 is possible. But 2013 is ridiculous. You have no idea how much pent up demand is building
There is no pent up demand, otherwise there would be no houses for sale on Righmove, or you wouldn't have to wait months for an offer. 'Want' and 'Demand' are two entirely different things, governed by one thing..... 'the price of the commodity in question', houses are over valued and over priced by vendors, so no demand I'm afraid, the evidence is in every index you would like to look at, from mortgage approvals (1/3rd of peak) to the house price indices.0 -
HPI will not come to your rescue McTwatish."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
HAMISH_MCTAVISH wrote: »:rotfl:
It's almost a religion with you lot now, isn't it?
Blind belief that prices must fall, if we just have faith, and read enough bearish articles, they must.... They really, really, really, really must......
Nope, don't have to read bearish articles, I just have to read the measureable facts,
House prices - down
Mortgage Lending - down
Mortgage Approvals - down
GDP - down
Unemployment - up
Future IR's - up
Future Taxes - up.
It ain't rocket science Hamish, we will have a spring bounce next year as well;). Can you give me any measureable facts....... or is it just wishful hoping on your part.:D0 -
My excuse for reading this troll-meets-bear nonsense is it's marginally more interesting than my marking - reading same essays 385 times.
What's Hamish's excuse for posting this nonsense?0 -
It ain't rocket science Hamish, we will have a spring bounce next year as well;).
Excellent. So if it's all down to the spring bounce, perhaps you can show me the spring bounce of last year.....;)“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, why?
What is missing in your life?0 -
He has a shedload of negative equity. So, I reckon HPI is missing from his life.0
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