The property boom is well underway now.

Conrad

mbga9pgf wrote: »

In which case, I wouldnt trust you as far as I could throw you. I wonder what the FSA would think to a mortgage broker suggesting such practices to FTBs...

I wouldn't recommend people borrow deposits, but they always have and always will.

The shrill cries about debt ought t be tempered wit the sobering reality most of keep our homes, and yes pay off our debts in time, shocking is'nt it.

Conrad

smartn wrote: »

Your comments truly shock me. It looks like many in the industry have learnt nothing from the last two years.

They learned less than 1% lose thier homes and that above 90% manage thier mortgages well.

They also learned we had about 15 years of rising prices set against 2 of falling.

Conrad

!!!!!!_face wrote: »

Also if you're criticising the Mail (a paper I similarly dislike) could you please elucidate us on what press you read?

I took the Mail in my right wing red neck blinkered phase, but grew out of it (honestly).

Radio 4 is my mainstay. The Economist is good but didn't see many journos talking about the crash in 2005 - I sold my b2ls in 06 and 07 so I guess I might have something going for me that these 'experts' missed.

Conrad

HAMISH_MCTAVISH wrote: »

This "think of the children" crap is getting tiring. The youth of today have it far better off than my generation did. Everything else is just noise.

I've met a few Pobby's in my time - I find them disingenious. On the one hand they decry rising prices, in the next they have the lattitude and wriggle room to live a very comfortable middle class existence. They seem not to realise thier cashpile affords them great peace on mind and life choices.

Kohoutek

Looks like houses are still overvalued in the UK-by a lot. If the government hadn't interfered with the natural correction by extending guarantees and credit to lenders (you can see the recent bounce on both charts) we would probably be where the US market is at the moment.

Once these schemes run out and interest rates rise to sensible levels, this evidence suggests the correction will resume.

smamst

Conrad wrote: »

I took the Mail in my right wing red neck blinkered phase, but grew out of it (honestly).

As you grow older you get more right wing.

ukcarper

Kohoutek wrote: »

Looks like houses are still overvalued in the UK-by a lot. If the government hadn't interfered with the natural correction by extending guarantees and credit to lenders (you can see the recent bounce on both charts) we would probably be where the US market is at the moment.

Once these schemes run out and interest rates rise to sensible levels, this evidence suggests the correction will resume.

What is it about 18% not the over value not by the vast amount some people on here imply

Kohoutek

Yeah but nearly 20% is still an awful lot - that's a house valued at £200,000 where it should be valued at £160,000.

ukcarper

Kohoutek wrote: »

Yeah but nearly 20% is still an awful lot - that's a house valued at £200,000 where it should be valued at £160,000.

Comparing to when I bought in the early 70s I would say that 20% is about right Then I managed to buy a 3 bed terrace on average salary so now I would have to be 2 bed flat so I wouldn’t be priced out yet.

As to whether they will fall to average value or below I’ve no idea. The middle of last year a 4 bed detached in my road sold for £277k after being on market for £285k. So when a 4 bed semi went on for £285k this year I thought their be lucky but it sold in a couple of weeks I don’t know what for and the sale could still not go through but I was surprised to see it go under offer so quickly. Looking at right move is a waste of time because there are detached houses in nice areas on for less than semi detached in not so nice areas

chucky

Kohoutek wrote: »

Looks like houses are still overvalued in the UK-by a lot. If the government hadn't interfered with the natural correction by extending guarantees and credit to lenders (you can see the recent bounce on both charts) we would probably be where the US market is at the moment.

Once these schemes run out and interest rates rise to sensible levels, this evidence suggests the correction will resume.

it doesn't matter if you put selectively graphs whether UK housing is over priced on or not.

people still will and will always buy them and most of the ones that can't afford them are the ones that can't buy them.