Latest Housing Stats.....

HAMISH_MCTAVISH

Emy1501 wrote: »

So once again not fact then and not said by Mr King then? We all know these predictions are normally wrong.

Actually the latest set of projections were clearly explained by King at the last BoE briefing.

And no, we don't all know these projections are usually wrong. In fact, they are usually right. Kings inflation projections, used to set rates, have been absolutely spot on throughout this crisis. They could not have been more accurate if he'd had a crystal ball.

You are seriously clutching at straws now.

Plus a 2% rise which equal £3K a year for anyone borrowing 150K is going to be pretty significant especially when more than 50% are or on the Trackers/SVR's and some have become used to their new rate.

Nonsense.

People took these mortgages when base rate was above 5%. They could afford to pay them then, they can certainly afford to pay them with a base rate of just 3% five years from now.

I've said it before and I'll say it again......2007 to 2015 will be the best time in history to have had a mortgage, and the worst time in history to have had savings.

Graham_Devon

HAMISH_MCTAVISH wrote: »

And no, we don't all know these projections are usually wrong. In fact, they are usually right. Kings inflation projections, used to set rates, have been absolutely spot on throughout this crisis. They could not have been more accurate if he'd had a crystal ball.

Excuse me?

And the reason for massive cuts in interest rates was? And the reason we were struggling with inflation was?

chucky

Graham_Devon wrote: »

Excuse me?

And the reason for massive cuts in interest rates was? And the reason we were struggling with inflation was?

why do these things have to be explained to the slower members of the audience so many times

Emy1501

HAMISH_MCTAVISH wrote: »

Actually the latest set of projections were clearly explained by King at the last BoE briefing.

And no, we don't all know these projections are usually wrong. In fact, they are usually right. Kings inflation projections, used to set rates, have been absolutely spot on throughout this crisis. They could not have been more accurate if he'd had a crystal ball.

You are seriously clutching at straws now.



Nonsense.

People took these mortgages when base rate was above 5%. They could afford to pay them then, they can certainly afford to pay them with a base rate of just 3% five years from now.

I've said it before and I'll say it again......2007 to 2015 will be the best time in history to have had a mortgage, and the worst time in history to have had savings.

Could they I'm sure house prices were crashing from the end of 2007 until rates were dropped to .5% and GB ordered banks not to repossess for 6-12 months.

If everyone was happily paying their mortgages why are banks not allowed to repossess for 6-12 months and why are rates .5%? Why did Mr Brown claim at the Labour conference that 200,000 home owners had been given direct government support to be allowed to stay in their homes?

Also I know a fair few who took trackers etc at 90% at .5-.75% below base rate. May trackers etc are now at between 3.5%-5% above base rate. 2% rise will take some of these rates to 6-7%.

As for clutching at straws, still waiting for you to show me where Mr King said that rates will not rise significantly fo years to come. Also maybe you could provide evidence of swap rates from 2007 just to show that they are right and predicted where we are now?

IveSeenTheLight

bernard_shaw wrote: »

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?

No it means that people are buying with joint income.

IveSeenTheLight

bernard_shaw wrote: »

So, FTB's aren't singletons, these days?

Did people buy property historically to live in alone?

Emy1501

HAMISH_MCTAVISH wrote: »

Actually the latest set of projections were clearly explained by King at the last BoE briefing.

And no, we don't all know these projections are usually wrong. In fact, they are usually right. Kings inflation projections, used to set rates, have been absolutely spot on throughout this crisis. They could not have been more accurate if he'd had a crystal ball.

You are seriously clutching at straws now.



Nonsense.

People took these mortgages when base rate was above 5%. They could afford to pay them then, they can certainly afford to pay them with a base rate of just 3% five years from now.

I've said it before and I'll say it again......2007 to 2015 will be the best time in history to have had a mortgage, and the worst time in history to have had savings.

http://www.metro.co.uk/money/741693-mortgages-for-first-time-buyers-has-fallen-by-17

Yeah always right. The above suggests that 2 year swap rates were about 6% in Sept 2007. Not far off interests in Sept 09 then.

nearlynew

chucky wrote: »

.............
seeing that you already own 4 homes - you're one of these HPI cheerleaders you keep on banging about

I own 2 houses, not 4.
And I am not an HPI cheerleader because I don't care if they increase in value or not.
In fact I would much rather they fell.



The only people who want higher house prices are debt junkies who can't wait to borrow more money against the higher prices.
Because they think debt is wealth.



But debt is not wealth.
Never has been, never will be.

chucknorris

nearlynew wrote: »

The only people who want higher house prices are debt junkies who can't wait to borrow more money against the higher prices.
Because they think debt is wealth.

Or perhaps as in my case they may own several investment properties and at the time that they might want to sell up and retire naturally would prefer a larger retirement fund. Surely it's not that hard a concept to envisage?



But debt is not wealth.
Never has been, never will be.

Why do silly people keep saying things like this, and embarressing themselves, will they eventually move on to an equally 'bleeding obvious' statement, like 'Monday is not Tuesday, never has been, never will'?

nearlynew

Fair enough, but what about those owners who are not invetsors with several properties yetare still HPI cheerleaders?


they were who I was talking about