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!

Latest Housing Stats.....

1356712

Comments

  • Emy1501
    Emy1501 Posts: 1,798 Forumite
    Unemployment will not rise to a high enough level to impact housing, not with the help that is available this time around which wasn't last time.

    Rates won't rise significantly for years, certainly not until the economy is growing again. And for that to happen, lending has to increase. When lending increases, bank competition will resum, margins will decrease, and people will end up paying similar mortgage payments.

    Most people paid around 5% in 2007. Most people still pay around 5% today. The future will be little different.

    Do you have any evidence to support this? I read an article from David Blanchflower recently who suggested it would. There are other economists with the same opinion. Whilst you maybe right surely you are simply guessing so how can you tell us they will not? Also agin how do you know rates will not rise signifcantly for years? You are again guessing. Whilst again you may be right you have no idea.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    abaxas wrote: »
    WORP WORP Inside Track bot alert WORP WORP :rotfl:

    what's Inside Track Mr Unix Man?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Emy1501 wrote: »
    Do you have any evidence to support this? I read an article from David Blanchflower recently who suggested it would. There are other economists with the same opinion. Whilst you maybe right surely you are simply guessing so how can you tell us they will not? Also agin how do you know rates will not rise signifcantly for years? You are again guessing. Whilst again you may be right you have no idea.

    isn't that what you've just done in your entire post :confused:
  • • The average declared income for first time buyers buying a property with a mortgage in the UK in 2008 was £41,000. This compares with £62,000 for former owner occupiers (Table 5.5);

    According to the Annual Survey of Hours an Earnings, UK median full time pay was £25,816 and the mean is £31,916 for tax year 2008/09.

    http://www.statistics.gov.uk/downloads/theme_labour/ASHE-2009/tab8_7a.xls

    Does this mean that the FTB's were earning higher than even the mean UK wage?
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    According to the Annual Survey of Hours an Earnings, UK median full time pay was £25,816 and the mean is £31,916 for tax year 2008/09.

    http://www.statistics.gov.uk/downloads/theme_labour/ASHE-2009/tab8_7a.xls

    Does this mean that the FTB's were earning higher than even the mean UK wage?

    Household income I would say.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Really2 wrote: »
    Household income I would say.

    Agree. A single mortgage could have multiple applicants.
  • Really2 wrote: »
    Household income I would say.
    Thrugelmir wrote: »
    Agree. A single mortgage could have multiple applicants.
    So, FTB's aren't singletons, these days?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    So, FTB's aren't singletons, these days?

    house buying unfortunately isn't for everyone, it's only for those that can afford it ... unfortunate but that's the way it is

    FTB's don't buy an average house (whatever that is) anyway
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    edited 4 December 2009 at 4:18PM
    So, FTB's aren't singletons, these days?

    Some are some an't you can't tell on an average wage unless they say.

    But Most people now buy when in a relationship. I thought most usually purchased like that.

    When were most FTB's singletons? I thought even in the 60's most still only purchased when married.
  • Really2 wrote: »
    Some are some an't you can't tell on an average wage unless they say.

    But Most people now buy when in a relationship. I thought most usually purchased like that.

    When were most FTB's singletons? I thought even in the 60's most still only purchased when married.

    I see. I saw this advice elsewhere:
    the first rungs on the ladder.

    Buy a flat. Build equity. Meet a nice girl that also bought a flat. Sell your flats for a nice big deposit. Buy a house.

    Thats the way it works.

    Is that not the way it works?
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.8K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.