MSE News: Halifax: House prices up again in August (+0.8%)

Graham_Devon

chucky wrote: »

i don't disagree but a 4.69% fixed over 5 years will look good in 3 years time

Will it?

No one really knows.

But in 3 years time, when that rate is ending, people could see their mortgages double, or even tripple.

They may of course see them fall, but I think seeing them go up once they come off that initial 3 year period is a bit more likely....and what then? Straight back to where we are now and have been the last year.

Harry_Powell

Graham_Devon wrote: »

I've said why quite a few times before now.

I guess I should be all cheery that this month I'm a little bit richer. But I'm not. Because my friends are a little bit poorer. My sister is a little bit poorer. My children are a little bit poorer. And because they are a little bit poorer, someone else is a little bit richer, someone who owns houses as investments who are feeding off them to create their wealth.

To me, me being a little bit richer in asset value, does not make the above any better, or indeed, worth my extra asset value. I would like to see all those people have a chance too.

I have a house. That automatically qualifies me to be in a better position due to HPI than my friends and my sister, and some of my work colleagues. But you know what, I'm not any better than any of them, I just got lucky with this house.

It must be hard to be you Graham, to have the financial worries of the UK on your shoulders like this. I have to say though that if you're so altruistic then there are far more important issues that you could be championing than the cost of a pile of bricks in a wealthy western country.

System

In the interests of consistency:

geoffky

Is this the end of the bounce? some bulls were predicting +2% .. looks as we go into the winter things are turning just as we predicted...

Really2

Joeskeppi wrote: »

In the interests of consistency:

Anyone noticed the Halifax seems to be nearly 2 months behind (it bottomed out 2 months after nationwide and is now at the same point the nationwide was at 2 months ago)

JonnyBravo

geoffky wrote: »

Is this the end of the bounce? some bulls were predicting +2% .. looks as we go into the winter things are turning just as we predicted...

eh?


I think everyone was predicting prices to drop as we approach end of the year....... even......... Hamish.

I'd ask what your point was geoff but I know from experience you don't really have one other than to try to find a negative spin for everything.

mr_fishbulb

Really2 wrote: »

Anyone noticed the Halifax seems to be nearly 2 months behind (it bottomed out 2 months after nationwide and is now at the same point the nationwide was at 2 months ago)

It doesn't mean Halifax is 2 months behind. It means the average is somewhere in the middle

tomstickland

Some good comments on the paper's websites.
Not many houses selling compared with 2 years ago.
People that are buying probably have large deposits.

The picture I see from Rightmove and Property Bee is very different.

Any idea what this is on about?

Ask how many tens of thousands of foreclosed properties the banks have bought via specially set up subsidiaries for the sole purpose of keeping a glut of houses from further depressing prices.
Apart from the outright market manipulation which is legally dubious, the money being used for this scam is bail out money - so you are forced to give money to the banks so that they can make houses more expensive for you to buy.

http://www.guardian.co.uk/money/2009/sep/10/halifax-house-prices

Aha, here you go: http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6807490.ece

Really2

mr_fishbulb wrote: »

It doesn't mean Halifax is 2 months behind. It means the average is somewhere in the middle

I know it does not, but their is a fair correlation between the 2 for that time period.

I would not say that the average house is in the middle, but I would say the north seems to be following the south's recovery, just that it took longer to kick itself back in to life.

Really2

tomstickland wrote: »

Some good comments on the paper's websites.
Not many houses selling compared with 2 years ago.
People that are buying probably have large deposits.

The picture I see from Rightmove and Property Bee is very different.

Any idea what this is on about?

http://www.guardian.co.uk/money/2009/sep/10/halifax-house-prices

My family member is selling repos. Seems to be some froth without substance. Banks are not in the market for not getting cash back for assets.