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Debate House Prices


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Latest Housing Stats.....

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Comments

  • nearlynew
    nearlynew Posts: 3,800 Forumite
    chucky wrote: »
    no idea my post never mentioned people being repossessed.

    if you want to know about repossessions speak to these guys
    www.repossessionhelpline.org.uk


    I don't want to know about repossessions.

    I asked for your opinion on whether it was right to repossess people who could not afford to pay for the house that they "bought".
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    nearlynew wrote: »
    I don't want to know about repossessions.

    I asked for your opinion on whether it was right to repossess people who could not afford to pay for the house that they "bought".

    why should you want to know or would you even care to know about a random user on an internet forums view on repossessions?

    it has nothing to do with Hamish's OP. this isn't the Nearly New show :money:
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    chucky wrote: »
    why should you want to know or would you even care to know about a random user on an internet forums view on repossessions?

    Despite my repeated attempts over recent weeks at getting an answer on this question, not one HPI cheerleader has been able to.

    It really is a paradox for them.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • So, FTB's aren't singletons, these days?

    Top tip. People on minimum wage don't tend to buy houses. And never have.:money:

    The average salary of a house buyer is higher than the average salary of all people. Some of those FTB's will also be joint applicants.

    There has never been a time in history when all people could afford to buy a house. Given that owner occupancy stats peaked at 70%, it is safe to say that the lowest earning 30% of people do not buy houses.

    So tell me, what is the average income of the top earning 70% of people?

    And then to look at couples, what is the average household income of the top earning 70% of households?
    “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”
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    edited 4 December 2009 at 5:36PM
    nearlynew wrote: »
    Despite my repeated attempts over recent weeks at getting an answer on this question, not one HPI cheerleader has been able to.

    It really is a paradox for them.

    you better find and then ask a HPI cheerleader when you manage to get out of the HPC ghetto mind-set :confused:

    i'm also waiting for a one of the HPC Ghetto (which your one of nearly new) to explain to me how a person on a minimum wage can afford to buy a house...
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    chucky wrote: »
    you better find and then ask a HPI cheerleader when you manage to get out of the HPC ghetto mind-set :confused:

    i'm also waiting for a one of the HPC Ghetto (which your one of nearly new) to explain to me how a person on a minimum wage can afford to buy a house...


    So you're not going to answer then?

    That's OK.
    We'll leave at that.

    I'm off out for a few pints.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • 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.

    And there are different economists with the opposite opinion.

    I have read both sides of the debate and picked the one I think more probable. This is, I would agree, an opinion only, but it is a tad more credible than a "guess" which by definition would imply random chance.

    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.

    Actually that is not my "guess", it is the outcome calculated as most probable by the BOE and stated so by King.

    One would suspect the Bank of England economists have rather more knowledge on the issue than you or I, and certainly more than "no idea".
    “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”
  • Top tip. People on minimum wage don't tend to buy houses. And never have.

    Who said anything about min wage?
    The average salary of a house buyer is higher than the average salary of all people. Some of those FTB's will also be joint applicants.
    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.

    So that's not the way it works, then...

    Unless those young single FTB's are on wages well above the national average for all full-time earners.
  • Emy1501
    Emy1501 Posts: 1,798 Forumite
    And there are different economists with the opposite opinion.

    I have read both sides of the debate and picked the one I think more probable. This is, I would agree, an opinion only, but it is a tad more credible than a "guess" which by definition would imply random chance.




    Actually that is not my "guess", it is the outcome calculated as most probable by the BOE and stated so by King.

    One would suspect the Bank of England economists have rather more knowledge on the issue than you or I, and certainly more than "no idea".

    So not fact then? You have read both arguments and then told us as fact that unemployment will not have an impact on house prices when its really just your humble opinion. As for the BOE can you show where they say rates will not rise significantly in years to come. Of course again this is their opinion and not fact as they have been wrong before have they not?

  • So that's not the way it works, then...

    Unless those young single FTB's are on wages well above the national average for all full-time earners.

    It's an average, not an absolute. And it's probably not even a median, but more likely a mean.

    So if the mean of FTB's is 40K or so, then the median will likely be low 30's. Which would indicate half of all FTB's earn less than the low 30K range.

    Which would then work well with the concept of house buyers being in the top earning 70% of population.

    Therefore my original point stands.;) (but it was a nice try, you adorable little troll, you....)
    “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”
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