We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Bovis Builders: Fear price crash due to rissing unemployment
Comments
-
What ever thay have said or not said the stock market likes it!
Share price up.
And the FTSI 100 its up too!
No new bad news here.:jYou can have everything you wont in lfe, If you only help enough other people to get what they wont.:j0 -
This is a non story. I was speaking with someone from the company the other day who tells me a)they have a war chest to go out and secure new land and b) they are recruiting heavy again. So while they remain cautious, it is far more positive than what is being reported.
Even if you accept averaging down as a good strategy, they'll be spunking good money after bad in buying land at current prices in my opinion. Buying now? Then they'll have more of this to do in the future imo.The company said that it wrote down around 2% of its land value, or £8.9m, based on achievable prices in the market. That brings its total writedowns to 14% of its total land.0 -
FallenAngel9898 wrote: »I get warm satisfaction that each £1 I save is £3 pound I won't have to earn at a later date to pay down a mortgage, I'm sure many other STR's/FTB'rs etc... feel the same way.
Never thought of it that way. Brilliant analogy!0 -
Graham_Devon wrote: »Never thought of it that way. Brilliant analogy!
it makes a lot of sense if you mortgage up to your limit of affordability and have a high LTV, otherwise the first 6/7 years are where you pay back the most interest.
if you have a percentage of your income where you're able to pay the debt back quicker it doesn't make that much sense.
ps. AD PPR'd again...0 -
FallenAngel9898 wrote: »Never say never Hamish,
Heh, I'm not that stupid, what with the long memory of bears...;)
I said almost no chance, and in fairness I believe that to be the case, particularly if the indices remain positive or even broadly neutral this month and next.Although I agree in certain respects, don't be fooled, many people are able to put away a fair stash each month even after their outgoings, and although I can't speak for every area, rents in my neck of the woods are cheaper than last year. On a personal note, I get very special rates, to put it in perspective my total outgoings each month are almost certainly a lot less than even PasturesNew, who is known for her extreme frugality.
Oh, I don't think it's "many" people at all. I have no doubt "a few" people can do so, but the vast majority cannot save anywhere near the amounts needed to keep up with hpi.
Thats why biting the bullet and buying is the smarter option for most, although admittedly not all. If prices do dip, who cares, as they'll eventually go back up again, but if prices don't fall, and as is now looking probable turn year on year positive, the costs of failing to keep up are horrendous.I get warm satisfaction that each £1 I save is £3 pound I won't have to earn at a later date to pay down a mortgage, I'm sure many other STR's/FTB'rs etc... feel the same way.
I get a warm feeling from knowing my housing needs are secure, and that no matter what happenes to prices, I won't lose out either way. If prices rise I cannot be priced out. If prices fall, and then rise later it makes no difference to me.
Oh, and just as a point of reference, you seem to be expecting horrendously high interest rates.
Paying off each pound of mortgage debt costs you roughly 75p in interest with rates at 5%, and roughly £1 in interest with rates at 6%. For it to cost £3, rates would have to be close to credit card levels...... And it's only that much if you never, ever overpay and run the mortgage for it's full 25 years.“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 -
Graham_Devon wrote: »Never thought of it that way. Brilliant analogy!
It would be if it were remotely accurate.“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 -
Even if you accept averaging down as a good strategy, they'll be spunking good money after bad in buying land at current prices in my opinion. Buying now? Then they'll have more of this to do in the future imo.
I should imagine they will buy when they see good value.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
ps. AD PPR'd again...
Annoyed me so much I have had a good rant. Just hope they will give us some kind of answer instead of annoying us all even more.
Edit. Wow, no sooner had I typed it, they'd deleted it.
Hope MSE never ventures into anything remotely to do with customer service.0 -
For info, the actual Bovis statement.
http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10162305'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
For info, the actual Bovis statement.
http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10162305
it reads very differently to the negative spin of Brit's opening post...0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards