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Debate House Prices
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Quarter of Brits on interest only mortgages
Comments
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Anyone purchasing past 2004 with a 100 percent mortgage or IO mortgage is overleveraged IMO.0
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Thrugelmir wrote: »This game hasn't even reached the first quarter yet. So I would keep your powder dry for a little longer.
Or alternatively we're already into overtime, and it's almost time for the fireworks.
Time will tell.“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: »So which bulls do you think are overleveraged, and why?
I'm not, I can't think of any that are on this board.
Somebody is overleveraged out there ..........
Even if they don't post on this board.
Must be a few people have sleepness nights over their debt levels.0 -
Anyone purchasing past 2004 with a 100 percent mortgage or IO mortgage is overleveraged IMO.
If they had no savings, no other property, and were on a high LTI with a single income, I'd be inclined to agree.
But as Julieq points out, most will still be just fine.
It's only a tiny percentage of them that will be forced to crystallise a loss. The rest will just wait for prices to rise, and simply make slightly less money over the next 20 years than someone that bought just before or just after.“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 -
Thrugelmir wrote: »Somebody is overleveraged out there ..........
Even if they don't post on this board.
Must be a few people have sleepness nights over their debt levels.
I'm sure you're correct. But the first post seemed aimed at the bulls on here......“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: »Or alternatively we're already into overtime, and it's almost time for the fireworks.
Time will tell.
Possibly 10 months to a general election.......
Same length of time since credit crunch hit......
General election will be half time. :rolleyes:
With number of substitutions could be a long second half , even extra time.0 -
HAMISH_MCTAVISH wrote: »I'm sure you're correct. But the first post seemed aimed at the bulls on here......
I doubt that the overleveraged will be posting on here.......0 -
I will repeat my statement of yesterday.
Anyone who has no other way of repaying the capital sum borrowed other than a vague hope that they will be earning more or that their house will be worth enough to pay the mortgage and buy another house outright is a lunatic or ( and this bit is extra) is responsible for no one elses future but their own.
If you believe you are disciplined and fortunate enough to be be able to save the entire amount of your mortgage then I salute you. I lack both your optimism and your fiscal wizardy.
I live in a world where sh*t can be guaranteed to happen so I, being a financial illiterate, just kept flinging money at my mortgage until I had it paid off.
I am only sorry now that I was so imprudent with my money, I should have followed some of the sage financial advice I have read on the internet and invested my pennies in an Icelandic bank or something.Retail is the only therapy that works0 -
Thrugelmir wrote: »Possibly 10 months to a general election.......
Same length of time since credit crunch hit......
General election will be half time. :rolleyes:
With number of substitutions could be a long second half , even extra time.
I'll confess to it being an interesting theory, but it's just not credible. That particular bear meme has been oft-repeated of late. "The Tories will save us!!!"
Ummmm, no.
The tories appointed Kirsty Alsopp as their housing advisor.
No new government will plunge the country back into recession, they only have 100 days to make an impression and get the piblic onboard. Theres NO WAY they will kill their popularity rating that early, and ferment opposition for the next 5 years.
The BOE MPC is independant, and rates stayed at 2% after the great depression for 18 of the next 20 years.
Any party that wants to get re-elected, had better not preside over an almighty housing crash. Particularly if the people saw a significant recovery right before they came into power and screwed it up again.
Nice theory. But not going to happen.
PS, Did I mention that the tories appointed Kirsty Alsopp as their housing advisor?:rolleyes:“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 -
Thrugelmir wrote: »I doubt that the overleveraged will be posting on here.......
I'd be inclined to agree.“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
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