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MSE News: Nationwide: House prices creep up 0.7% in March
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nollag2006 wrote: »I think the figure will probably come in at about 11 or 12%.
Great prediction there.nollag2006 wrote: »we hopefully should get it over the line for 10% YOY next month.
Yeah, keep hoping and dreaming lad. Down down and down for YOY from here.0 -
So now the argument is you can afford a house if your parents have one and release some of that equity?
So how about people who have parents who don't own a property or it gets swallowed by debts, you saying they shouldn't be allowed a house due to there parents actions?
As I keep saying I don't wish to buy a house and for it to lose value, but prices should increase with inflation, not the artificial BTL'ers buying everything cheap to steal from the poor contricting supply increases.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
HAMISH_MCTAVISH wrote: »Do you have a source for that?
Perhaps, but they don't all need to sell at once.
2007 volume of transactions were abnormally high.
2007 mortgage approvals were not really any different to any other year between 2000-2007.
Even in the 93 approvals were between 70-80K a month. What this shows is that there are probably about 250-400K households who have put their lives on hold in 2008 to now waiting for the market to pick up. Add these to those who will want to release equity to fund retirement and approvals will have to reach between 70-100K a month over the next couple of years or something will have to give.
The question where will the money come from? RBS have said it will be another 5 years before they are back to normal and I suspect Lloyds similar. Housing has not been ring fenced to likely 25% cuts over the next few years. The Bank of Mum and Dad can't keep lending to their children to buy property to keep prices high just the Chinese cant keep lending to us and Yanks so we keep buying their products etc.
Something has to give sooner or later unless there is a belief that the Chinese and Gulf states are going to get into the UK mortgage lending market.0 -
“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”0 -
Even in the 93 approvals were between 70-80K a month. .
But that was when mortgage approvals were not net of cancellation.
The true figure, 3 years after the last crash started, was more like 50K.
Which is right around where it is today.;)“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”0 -
HAMISH_MCTAVISH wrote: »But up and up for prices.....:rotfl:
We shall see.
BYW your signature is out of date.0 -
HAMISH_MCTAVISH wrote: »But that was when mortgage approvals were not net of cancellation.
The true figure, 3 years after the last crash started, was more like 50K.
Which is right around where it is today.;)
And where do your figures come from? What a surprise that you quote a similar figure to current figures to justify your claim:D Are you suggesting that now all approvals are net of cancellation when people cancel right up to exchange?0 -
MSE_Natasha wrote: »"The housing market bounced back during March after prices suffered their first fall for 10 months in February, Nationwide says today..."Read the full story:
Nationwide: House prices creep up 0.7% in March
I've completely, utterly, properly stopped caring in any way, shape or form. I haven't read the thread - is it full of Hamish celebrating, people saying that this is noise, 'bears' saying that this isn't a real spring bounce, Hamish saying it is, someone saying it's stagnation, a few emoticons as usual?
It's the same every month and you get the feeling that it will be like this on here until the very end of time. Ah well.0 -
Current transactions are over 70,000 see nationwide report.0
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Alan_Cross wrote: »Hear, hear.
There seems to be a weird acceptance hereabouts that in some way the UK mortgage market was to blame for the credit crunch and the buy-to-let investors particularly have come in for stick.
Absolute nonsense. The UK lenders could have given out ten times as much in BTL lending and it would still have played next to no role in the crash.
Please share with us where this money could have been raised from to lend to investors ?0
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