House Prices Soar By 10%

jackieb

We're still waiting on the big price falls that had been predicted. It's just not happened here. Things slowed down a bit here for a while but they're on their way back up for definite. My son, a first time buyer, has saved up enough deposit for the kind of house he wants now - he's just hoping they slow down enough, so he still has enough deposit to put down by the time he manages to get a house he likes.

Malcolm.

HAMISH_MCTAVISH wrote: »

Actually it's very relevant and great news for the several million people with a mortgage that previously had less than 40% equity, as it will open up the next teir of better rates for most of them.

You forget that higher rates of default risk are being priced into mortgage products, many existing home-owners will be better sticking with their current products. The higher level of equity won't help many of them.

nembot

You live on another planet Hamish, I'm certain.

brit1234

I still think Hamish is Bruno Powroznik. The guy who was arrested for threaterning to kill HPC members at a meeting with an AK47.

http://www.youtube.com/watch?v=4o3_lwp60T4

This is his youtube website, its got to be Hamish.

http://www.youtube.com/user/callmenobod#p/u/551/7c3f12SldPY

cepheus

Bit of a dilemma for the Express, they don't want any good news bolstering Labour!

amcluesent

STR now, this is likely the last strength in the market for generations, the macro-economic factors make this self-evident.

SPAMISH_MCTAVISH

Check this http://www.youtube.com/watch?v=oZFt46aQyQ8&feature=related

Considering this was put there in 2006 when Aberdeen boy was cheering about never ending HPI looks like they got it right and Hamish looks like an idiot

HAMISH_MCTAVISH

Malcolm. wrote: »

You forget that higher rates of default risk are being priced into mortgage products,

No, banks are profiteering on the back of limited competition.

many existing home-owners will be better sticking with their current products.

Those on Nationwide or Lloyds TSB deals with a cap on SVR of base plus 2% will almost certainly be better off staying on their current deal.

But for millions of others, the 10% increase in house prices will help them change bracket and become elegible for better deals

The higher level of equity won't help many of them.

It will help several million of them. And of course it's also good for the many millions more whose next move will be downsizing.

It's not so good for the few hundred thousand FTB's who may buy this year, but the bigger barrier by far for them is the profiteering banks treating them like sub-prime-slime and requiring huge deposits and extortionate rates.

Of course it really sucks for the housing bears who in a moment of sheer stupidity triumphantly predicted further big falls a year ago, and every month since, and totally missed their once in a generation opportunity to buy at the bottom of a crash.....

They must feel like utter morons.....;)

No wonder they're spewing vitriol all over the internet.

pickledpink

Generali wrote: »

Rejoice for you are all rich now.

Richer than you!:p:rotfl:

SPAMISH_MCTAVISH

HAMISH_MCTAVISH wrote: »

No, banks are profiteering on the back of limited competition.




Those on Nationwide or Lloyds TSB deals with a cap on SVR of base plus 2% will almost certainly be better off staying on their current deal.

But for millions of others, the 10% increase in house prices will help them change bracket and become elegible for better deals



It will help several million of them. And of course it's also good for the many millions more whose next move will be downsizing.

It's not so good for the few hundred thousand FTB's who may buy this year, but the bigger barrier by far for them is the profiteering banks treating them like sub-prime-slime and requiring huge deposits and extortionate rates.

Of course it really sucks for the housing bears who triumphantly predicted further big falls a year ago..... When it turns out that was the trough and they should have bought then.;)

Why should anyone listen to you Hamish ??? You got it so wrong when it crashed. Why do you think you will get it right this time ?