MSE news: Nationwide reports largest house price rise for over two years

StevieJ

Harry_Powell wrote: »

Wasn't Dithering Dad telling people six months ago to buy a house because the bottom was reached and because fixed interest mortgages had also reached their bottom price. I remember he was talking about a fee free 3.99% 5 year fix from A&L. I also believe that he called the bottom of the stock market correctly too.
?

Hey Harry, you seem to be our resident DD expert BTW I thought DD moved all his pension funds into cash although he did make a good play on Lloyds, if I remember correctly. BTW DD was my fav poster.

Dan:_4

nollag2006 wrote: »

Thank goodness that house price falls are now a thing of the past. Here's hoping we get back to the 2007 peak levels by Christmas.

Thats wishful thinking, much like Brit's 50% fall by xmas.

However, I wouldn't rule out the YoY figure showing a small positive by xmas, so 2009 really would have been a disaster.

Harry_Powell

StevieJ wrote: »

Hey Harry, you seem to be our resident DD expert BTW I thought DD moved all his pension funds into cash although he did make a good play on Lloyds, if I remember correctly. BTW DD was my fav poster.

lol, you lot are slipping. I mentioned DD and had to wait at least 30 mins for the sockpupet furor!!

D+, must do better. :rotfl:

mr_fishbulb

Whilst it may be a year or so off (depending what you believe), what do posters think the impact of interest rates returning to higher levels will have on sustainability and growth of house prices?

In 2007 I remember lots of articles of people failing to keep up with mortgage payments after base rates had steadily risen due to inflation. We did not reach a crisis because house prices started to drop due to credit crunch and confidence. But with today's Nationwide figures, the price of houses is on its way back up (even if mortgage repayments aren't yet - but they will be).

I have a worry that people rely too much on affordability without noting that interest rates have never been this low before. Sure they can make mortgage payments now, but they will increase.

Dan:_4

mr_fishbulb wrote: »

Whilst it may be a year or so off (depending what you believe), what do posters think the impact of interest rates returning to higher levels will have on sustainability and growth of house prices?

In 2007 I remember lots of articles of people failing to keep up with mortgage payments after base rates had steadily risen due to inflation. We did not reach a crisis because house prices started to drop due to credit crunch and confidence. But with today's Nationwide figures, the price of houses is on its way back up (even if mortgage repayments aren't yet - but they will be).

I have a worry that people rely too much on affordability without noting that interest rates have never been this low before. Sure they can make mortgage payments now, but they will increase.

Interest rates will rise which will cool off HPI - This is a good thing because no one (not even Dan) wants house prices to get ridiculously high again.

It will not effect people currently taking out mortgages as the margin between the base rate and mortgage rates is unusually wide.

Dan:_4

I wonder where nearlynew, shakerbaby, Brit, Carolt, downey etc are today?

Must be either too upset to post, too humiliated to post, or down the EA to get in quick.

StevieJ

Harry_Powell wrote: »

lol, you lot are slipping. I mentioned DD and had to wait at least 30 mins for the sockpupet furor!!

D+, must do better. :rotfl:

Not sure what you mean

chucky

Dan: wrote: »

I wonder where nearlynew, shakerbaby, Brit, Carolt, downey etc are today?

Must be either too upset to post, too humiliated to post, or down the EA to get in quick.

this is just another nail in that HPC coffin!!

baileysbattlebus

HAMISH_MCTAVISH wrote: »

On a house price board? I'm sure someone will try....:rotfl:


Bank of mum and dad, or granny and grandad.
:beer:

Talking about the Bank of mum and dad - this very morning we had an "invitation" from Bryant Homes to "Help your kids get that all important step on the property ladder" and to "Reclaim your space"

They call this a "parent power" event - Wokingham Town Hall on 4th and 5th September.

You can get things like stamp duty refunds and 5% deposit paid. I'm not sure how it works - but I suppose it's a joint mortgage with your kids - perhaps with your house as security? Maybe someone will come along who knows how these thing work.

this is the development - it's not far from us.

http://www.bryant.co.uk/newhomes/Oxfordshire/Cranford+Pines/

needless to say I won't be attending - this bank of mum and dad have removed the ATM, I'm afraid.

StevieJ

mr_fishbulb wrote: »

I have a worry that people rely too much on affordability without noting that interest rates have never been this low before. Sure they can make mortgage payments now, but they will increase.

They will only increase to the levels at which people took out their mortgage originally and only when the recession is a memory, do you not remember the STR brigade saying 'wait until they come off those two year fixes' (assuming interest rates would be a lot higher) well they did and were very happy