The property boom is well underway now.

Pobby

That`s a good rate on your ISAs.

Harry_Powell

Pobby wrote: »

I didn`t make myself clear. I apologise. What I mean to say is why, day after day, folk are still talking about the housing market taking off again. Why would they want it to?

Where I am standing, the out of control HPI played a large contribution to where we are today. For me my house rose in price by over 300%. How has that helped me? It`s the same house.

Down side. Like many I am worried about the future of my business/ job. My pensions and investments have had a poor ride during the last decade. I am losing £1,000`s a year by getting next to no interest. I, in part, put this down to the effect of the rampant housing market. So, if you care to, someone please explain to me why I should want to see a rising housing market for the time being.

I'm glad your house multiplied by 300%, good for you. Clearly you dont have to worry about LTV and negative equity like the rest of us. I wish I was rich enough to be so egalitarian.

ukcarper

Harry_Powell wrote: »

I'm glad your house multiplied by 300%, good for you. Clearly you dont have to worry about LTV and negative equity like the rest of us. I wish I was rich enough to be so egalitarian.

I would imagine it's only people who bought in say the last 5 years who have to worry about negative equity unless they were silly enough to take a 125% mortgage.

Harry_Powell

ukcarper wrote: »

I would imagine it's only people who bought in say the last 5 years who have to worry about negative equity unless they were silly enough to take a 125% mortgage.

Yep. I guess it's nice to be sat on a pile of equity built up over 10 years or more of boom. It must be great to be in such a comfortable position that you can say "that's it now, no more HPI, I've had 300% and I don't need any more thanks".

Pobby

I think that there are plenty like me who wished that there was no HPI in the way that we have witnessed over the last decade.

I was in a poor shape with equity in the early 90`s. Then we had far higher interest rates, little help from the government and lower wages.

I have always made it clear that I feel no richer because the price ( not value ) of my home has increased. In fact I never really understood the few people I have met that do think that way.

ukcarper

Harry_Powell wrote: »

Yep. I guess it's nice to be sat on a pile of equity built up over 10 years or more of boom. It must be great to be in such a comfortable position that you can say "that's it now, no more HPI, I've had 300% and I don't need any more thanks".

you don't to have 300% hpi to avoid negative equity all you really need is no drop

ukcarper

Harry_Powell wrote: »

Yep. I guess it's nice to be sat on a pile of equity built up over 10 years or more of boom. It must be great to be in such a comfortable position that you can say "that's it now, no more HPI, I've had 300% and I don't need any more thanks".

My house has increased in value almost 5x since I bought it 25 years ago and its all equity now but I have to live somewhere so wouldn’t make much difference to me if it had only increased in line with inflation.

StevieJ

Pobby wrote: »

That`s a good rate on your ISAs.

The 6.5% were 4 year fixes a year or two ago.

Emy1501

Reality bites for sellers Having trouble shifting your house? It may be time to face facts and drop the price. The buyer’s market is back

“There is no doubt there is change happening,” says Liam Bailey, head of residential research at Knight Frank estate agency. “It’s becoming apparent that the market is beginning to slow down: more properties are up for sale and buyers are thinner on the ground.”

http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article7068847.ece

Now I wonder who we should believe.

StevieJ

Pobby wrote: »

That`s a good rate on your ISAs.

The 6 to 6.5% were 4 year fixes a year or two ago.