The property boom is well underway now.

Graham_Devon

ukcarper wrote: »

Same as blackbirds

You know way too much about the wrong type of birds.

Robins?

ukcarper

Graham_Devon wrote: »

You know way too much about the wrong type of birds.

Robins?

Thats what happens when you get to my age

HAMISH_MCTAVISH

ukcarper wrote: »

Thats what happens when you get to my age

An obsessive fascination with birds...... How old are you, 18?:rotfl:

ukcarper

HAMISH_MCTAVISH wrote: »

An obsessive fascination with birds...... How old are you, 18?:rotfl:

I wish oh no I don't I'll never be able to buy a house, oh I'm not sure to be 18 again and have the chance of 3 years at university with all those lovely girls. Oh I'm starting to get very confused now I better take my pills and go to bed

Harry_Powell

ukcarper wrote: »

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

I think you're forgetting that negative equity is not the only enemy of those who bought in the last 5 years, poor LTV (Loan to Value) rates can have a major impact on the cost of your mortgage. It's laughable for the likes of Pobby and yourself to disregard the positive impact HPI has had (and still has) on your wealth.

If a family has a £200k mortgage on a £230k home, then their LTV is 87%. To try and increase their LTV to obtain the cheapest 60% LTV mortgage in a stagnant marketplace they would have to save up £108K. Alternatively they would need HPI of 6.7% over 7 years (the average duration people stay in a house before moving).

They either make myself penniless and live like misers for a decade or they cheer on HPI. Yes, it might price some people out of the market, but that's not really their problem is it?

No doubt that when they hit that magical 60% LTV figure, they'll be as egalitarian (and hypocritical?) as you and Pobby, and be moaning about what a disgrace HPI is. In the meantime, please forgive them for putting their family's financial interests before the interests of a bunch of strangers.

ukcarper

Why are you asuming that everybody who has a large amount of equity in their house is cheering on hpi. On the subject of interest rates when I was in the position of low equity or even had reasable equity I had to put up with SVR as none of these deals were available.

Harry_Powell

ukcarper wrote: »

Why are you asuming that everybody who has a large amount of equity in their house is cheering on hpi. On the subject of interest rates when I was in the position of low equity or even had reasable equity I had to put up with SVR as none of these deals were available.

Did you even read my post????!!!

I said that no doubt once people have a large amount of equity in their property, they can be like you and Pobby and sit back, thumbs stuck firmly in their waistcoat pockets, peering over their bloated, fat stomachs and spout about the inequity of HPI.

Meanwhile those of us who don't and who are struggling with crap LTV values are praying for HPI just to ease the burden a little. I can't wait until I'm in your position, I'll be thumbing those waistcoat pockets like no tomorrow!

MatteH

Harry_Powell wrote: »

Meanwhile those of us who don't and who are struggling with crap LTV values are praying for HPI just to ease the burden a little.

No one forced anyone to buy property.

If someone brought on the premise that values would increase significantly in a low inflation environment, where average house prices are already around double the long term salary/loan average, then more fool them for not seeing how unlikely that would be.

Harry_Powell

MatteH wrote: »

No one forced anyone to buy property.

If someone brought on the premise that values would increase significantly in a low inflation environment, where average house prices are already around double the long term salary/loan average, then more fool them for not seeing how unlikely that would be.

I don't think anyone has bought since the crash with the expectation that we'll see double digit HPI. The argument is about those who have secured their large HPI percentages telling the rest of us that we're a disgrace for hoping that house prices increase. Hipocrites. Did you notice the glee they have in telling us the "300%". They still long for the dinner parties where they could discuss how much they made. Now that it's not PC, they wrap up their bragging in a cloak of concern "I hate the fact that my house has seen £300k of gain. Isn't it awful!"

Emy1501

Harry_Powell wrote: »

I don't think anyone has bought since the crash with the expectation that we'll see double digit HPI. The argument is about those who have secured their large HPI percentages telling the rest of us that we're a disgrace for hoping that house prices increase. Hipocrites. Did you notice the glee they have in telling us the "300%". They still long for the dinner parties where they could discuss how much they made. Now that it's not PC, they wrap up their bragging in a cloak of concern "I hate the fact that my house has seen £300k of gain. Isn't it awful!"

My parents and their parents bought a house a somewhere to live die and then leave it to kids. its a modern thing this buying a house hoping it trebles in value and then downsize to make money from it.

I have a reasonable amount of money in my house but who cares when I die if its worth 200K or 300K. The kids will be too old to get anything out of it and the grandchildren would have to use it for deposit on any place they buy.

If people want to make money from property do what my parents did. Get into BTL do it properly and make sure that your retirement is based on yields rather than simply any hope that the property is worth more than you paid for it.