Households paying mortgages with credit cards

Emy1501

julieq wrote: »

Macaque, read the article before getting overexcited. 1 Million people have used their credit card at some point to "pay their mortgage or rent"

No data on the relative proportions here. And would Shelter not qualify as a VI?

Total non-story.

I take it that RICs Surveys, NW figures, Halifax figures. CML surveys etc are all non-stories as they all qualify as VI?

julieq

Emy, standard bear operating procedure is to attempt discount any report not suggesting declining prices as coming from vested interests, but to ignore any vested interest from reports suggesting falls. In fact if base assumptions are known and numbers published, any report from anyone can contain useful information.

The most amusing part of this phenomenon are when reports are accepted as gospel truth on the downswing and dismissed as vested interests on the upswing. Confirmation bias.

This is a non-story because (a) it's a rehash of an old story, (b) does not actually contain any information on use of credit cards to pay mortgages (as opposed to rent), and (c) is clearly a publicity piece for Shelter. What they do explain is hardly groundbreaking : the finances of the less well off are stretched.

Emy1501

julieq wrote: »

Emy, standard bear operating procedure is to attempt discount any report not suggesting declining prices as coming from vested interests, but to ignore any vested interest from reports suggesting falls. In fact if base assumptions are known and numbers published, any report from anyone can contain useful information.

The most amusing part of this phenomenon are when reports are accepted as gospel truth on the downswing and dismissed as vested interests on the upswing. Confirmation bias.

This is a non-story because (a) it's a rehash of an old story, (b) does not actually contain any information on use of credit cards to pay mortgages (as opposed to rent), and (c) is clearly a publicity piece for Shelter. What they do explain is hardly groundbreaking : the finances of the less well off are stretched.

So 2 wrongs make a right now? Just because bears dismiss surveys they don't like its ok for you to do too? If it was not a story why are there a 100+ articles on it via google news? Its not a re hash also is it? You gov survey of 2000+ people done in 2009? Also 4% of middleclass people using CC's does not suggest it only relates to the less well off.

Your comments remind me of the people on HOC who earlier last year were ignoring the signs that prices may have been about to rise.

co123456

If only it were possible to borrow back 20K from your flexible mortgage, load up a credit card offering 1% cash back, then proceeding to ‘overpay’ your mortgage using that credit card.

;-)

chucky

Emy1501 wrote: »

Just because bears dismiss surveys they don't like its ok for you to do too?

bears usually post information from a random blog on the internet.

i'd rather see information from the Land Registry if it's ok with you.
they're going to be a bit more reliable on theur information than some random blogger on the internet who posts a controversial view just to get his 'hit count' up.

Mr.Brown_4

chucky wrote: »

bears usually post information from a random blog on the internet.

i'd rather see information from the Land Registry if it's ok with you.
they're going to be a bit more reliable on theur information than some random blogger on the internet who posts a controversial view just to get his 'hit count' up.

Post Count: 5,967 :rotfl:

chucky

Mr.Brown wrote: »

Post Count: 5,967 :rotfl:

mewbie
Post Count: 5,632

plus you're new User Id

Mr.Brown
Post Count: 293

5,632 + 293 = 5,925

what kind of loser needs two accounts to log onto just one forum!?

Emy1501

chucky wrote: »

bears usually post information from a random blog on the internet.

i'd rather see information from the Land Registry if it's ok with you.
they're going to be a bit more reliable on theur information than some random blogger on the internet who posts a controversial view just to get his 'hit count' up.

I don't care what bears normally do. What that got to to with this survey? Its not from a random blog though is it? 2000+ you gov poll? Also assume you wont be relying on NW figures anymore in view of the fact they have a VI interest?

julieq

Emy, I'm dismissing this report because it contains nothing of relevance. That's the long and the short of it really,

I'm also pointing out the amusing irony that the bears are now getting so desperate for supportive arguments they're digging up articles which are from the most vested of VIs, despite crying foul at the slightest hint of VI influence anywhere else. It's intellectually bankrupt, and as I said, often the sources that are now being discounted were enthusiastically cut and pasted a year ago.

For the avoidance of doubt, whether a source has a VI or not is irrelevant IF you work rigorously through the data and assumptions. That's how you derive a true picture from often conflicting data.

Mr.Brown_4

chucky wrote: »

what kind of loser needs two accounts to log onto just one forum!?

:rotfl:Dunno. You seem to be the expert. :rotfl: