House prices higher than year ago

HenryWeston

StiflersMom wrote: »

Surely you mean "Buy in Feb 2009 when prices are on the floor"

:j:j:j

2 years from now is october 2011 :rolleyes2 you bulls aint very good at adding up are you.

MarsdenCuckoo

the_ash_and_the_oak wrote: »

the counter argument to this is to use monthly outgoings rather than ticket price (a 1 million house is affordable at 1% - not sure about paying off the capital but still!) - tho this relies on initial rates staying low for a long enough period to pay off enough capital that rate rises aren't a problem. not totally sure current rates of 6%ish are that low (unless you guys really want to use that BR+4% tracker that was linked the other day!)

On your basis we're all heading nowhere other than further down the debt spiral i.e. buy and live in a home you can never possibly afford to buy! The housing market has to be sustainable from the bottom up. If FTB's can't afford to buy houses on the bottom rung then the whole thing risks falling like a pack of cards - yes/no?

MarsdenCuckoo

StiflersMom wrote: »

Surely you mean "Buy in Feb 2009 when prices are on the floor"

:j:j:j

Not a betting person but my money is on house prices falling further before they start to recover.

chucky

MarsdenCuckoo wrote: »

On your basis we're all heading nowhere other than further down the debt spiral i.e. buy and live in a home you can never possibly afford to buy! The housing market has to be sustainable from the bottom up. If FTB's can't afford to buy houses on the bottom rung then the whole thing risks falling like a pack of cards - yes/no?

No.................................

HenryWeston

chucky wrote: »

No.................................

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

StiflersMom

MarsdenCuckoo wrote: »

Not a betting person but my money is on house prices falling further before they start to recover.

Again, to reiterate my point above, you probably should have posted this in Jan / Feb 2009, as you might have noticed that house prices HAVE recovered substantially since then.

Oh well, never mind. These crashes come along every 15 years. See you at the next one !

:money:

chucky

Snooze wrote: »

Can anyone tell me where one purchases these crystal balls from? There seem to be a lot of members with them on this forum. :rolleyes:

yeah i know - people predicting that this HPC was going to spiral away for 3 years continuously, repossessions were going to go through the roof and there were going to many forced sellers... it never happened did it Robert :rolleyes:

their crystal balls where totally rubbish - i kept on telling them but they wouldn't listen

nembot

These threads are almost as funny as episodes of Arrested Development or Seinfeld.

MarsdenCuckoo

StiflersMom wrote: »

Again, to reiterate my point above, you probably should have posted this in Jan / Feb 2009, as you might have noticed that house prices HAVE recovered substantially since then.

Oh well, never mind. These crashes come along every 15 years. See you at the next one !

:money:

Not in my neck of the woods they haven't and the market is 'quite buoyant' here. Surprising how many 'Sold' signs go up only then to be swiftly followed by yet another 'For Sale' sign. Can only guess that once the valuers get involved, lenders are not exactly keen to part with the dosh.

With ever-increasing strikes and job losses, doesn't need a crystal ball to see there is nooooooooooo chance of house prices zooming again until people's jobs are safe.

the_ash_and_the_oak

MarsdenCuckoo wrote: »

On your basis we're all heading nowhere other than further down the debt spiral i.e. buy and live in a home you can never possibly afford to buy! The housing market has to be sustainable from the bottom up. If FTB's can't afford to buy houses on the bottom rung then the whole thing risks falling like a pack of cards - yes/no?

chucky wrote: »

No.................................

Wait...must be misreading you here. you're not saying the market doesn't need FTBs here are you?

for me its kinda two things at once here, lower prices doesn't necessarily mean increased affordability, if the money is more difficult and expensive to come by for it...and ...theoretically you could have house prices much higher than today if you lent out to FTBs at 2% and then the ones after those at 1% etc etc (hypothetically obv)