Nationwide: +1% MoM +10.5% YoY

chucky

Thrugelmir wrote: »

So where is the "big" money coming from to buy at the top end in London? Where prices are still immune to the impact of the recession.

maybe just maybe there is enough money in the system and people do still get mortgage approvals to buy property.

from your previous post the Greeks were buying up 10,000 properties a month...

Thrugelmir wrote: »

Weak pound is attracting buyers from abroad to London. Some considerable interest from wealthy Greeks it seems.

London isn't just top end property - you should pop into the metropolis, it may open your eyes to where the real money is...

Thrugelmir wrote: »

So what was equity withdrawl used for? Other than cars, another house and holidays?

saying that the sale of BMW's and Plasma Tv's was directly linked to mewing is laughable.

abaxas

Degenerate wrote: »

Despite your wishful thinking, the fact is that recovering asset values improve bank solvency and reduce the need for government support.

Yes, but doesnt change people's ability to pay down the debt.

Debt is only as good as the payments on it, ask Greece.

Really2

chucky wrote: »

saying that the sale of BMW's and Plasma Tv's was directly linked to mewing is laughable.

If it was they should not have sold any over the last 18 months, infact they should all be on the second hand market as HEW as been negative now for well over a year.

Thrugelmir

Degenerate wrote: »

Despite your wishful thinking, the fact is that recovering asset values improve bank solvency and reduce the need for government support.

Some of the banks will need Treasury support to maintain solvency for a while longer. As without support the current level of lending is unsupportable. While Lloyds reported that it had made a profit in Q1 2010. It also reported that net lending was flat. So its a question of quality of lending rather than quantity that matters.

To a bank what matters is the firesale value of an asset, not its market value. The banks will still be very cautious in making impairment provisions in their accounts. Until the situation is stable.

Thrugelmir

chucky wrote: »

saying that the sale of Plasma Tv's was directly linked to mewing is laughable.

I didn't.

You did.

What you haven't passed an opionion on is where the money went. As it was borrowed and spent. Thats a fact.

Thrugelmir

ess0two wrote: »

Dependant on situations,who's to say todays buyers will be burdened for years.
Payrises,promotions,job move for myself made it easier over time,depends what you want to aspire to.

Then out of the blue redundancy strikes. All those aspirations and hours of work count for nothing. Your just another statistic in the unemployment numbers. Business is ruthless.

ess0two

Thrugelmir wrote: »

Then out of the blue redundancy strikes. All those aspirations and hours of work count for nothing. Your just another statistic in the unemployment numbers. Business is ruthless.

Or i get run over,the wife leaves,the boiler blows up,i get addicted to heroin,i gamble everything away.........the list is endless.

Or perhaps i get another job,and use my redundancy protection plan,then decide???

chucky

Thrugelmir wrote: »

I didn't.

You did.

What you haven't passed an opionion on is where the money went. As it was borrowed and spent. Thats a fact.

i'm still trying to figure out how greek buyers are buying 10,000 London properties a month...

chucky

Thrugelmir wrote: »

Then out of the blue redundancy strikes. All those aspirations and hours of work count for nothing. Your just another statistic in the unemployment numbers. Business is ruthless.

remind me what the unemployment rate is... 8%ish....

fortunately unemployment doesn't affect everyone...

going further than that - do you think that these people get other jobs or do they stay unemploymed for ever...

sarkin1

Blacklight wrote: »

On the south coast wages are a lot higher...

http://www.mysalary.co.uk/geographical-uk-regions-salaries.php

East of England - average of £30,280
South East - average of £32,524
South West - average of £28,355
Yorkshire and North East - average of £29,282
London - average of £42,302
Scotland - average of £31,582
Midlands - average of £27,926
North West - average of £31,144
Wales - average of £29,881
Northern Ireland - average of £46,526

these are average salary's not FTB salary's

Your living on the moon mate