Cml: mortgage approvals plummet in April!

chucky

Henry_P_Chester wrote: »

Biggest recession since WW2 yet there were STILL MORE FTBs than now.

Lowest since 2007. Re read the op.

i've obviously not been clear here... i'm not denying that the FTB numbers are low and i'm not denying that it is tough for FTBers to get a decent mortgage.

what i am saying is that it shouldn't be a surprise that there is a low number of FTBers as it is consistent with the percentage of the market they have had in the last few years.

once it drops to 25% of the mortgage market for example - maybe then it is trouble for the housing market... but for now it doesn't really have an impact on house prices...

Henry_P_Chester

chucky wrote: »

i've obviously not been clear here... i'm not denying that the FTB numbers are low and i'm not denying that it is tough for FTBers to get a decent mortgage.

what i am saying is that it shouldn't be a surprise that there is a low number of FTBers as it is consistent with the percentage of the market they have had in the last few years.

once it drops to 25% of the mortgage market for example - maybe then it is trouble for the housing market... but for now it doesn't really have an impact on house prices...

No you never are clear in your arguments, quite often altering the point your making as you begin to lose the debate.

So what was the level of FTBs when prices crashed in September 2007? More than 25% in fact the same as April 2010. As I said, read the OP.

StevieJ

chucky wrote: »

.

once it drops to 25% of the mortgage market for example - maybe then it is trouble for the housing market... but for now it doesn't really have an impact on house prices...

Obviously doesn't as prices are increasing.

chucky

Henry_P_Chester wrote: »

No you never are clear in your arguments, quite often altering the point your making as you begin to lose the debate.

So what was the level of FTBs when prices crashed in September 2007? More than 25% in fact the same as April 2010. As I said, read the OP.

i like your style jumping from point to point without backing up any of your soundbites :T

i've bothered to explain to you -you've said that you agreed with me before and now and now you're disagreeing. make your mind up!!

do you think the credit crunch may have had anything to do with mortgage numbers instead of affordability in 2007...

Henry_P_Chester

HAMISH_MCTAVISH wrote: »

He never does.

You know when someone has lost a debate when they result to personal insults.

Henry_P_Chester

chucky wrote: »

i like your style jumping from point to point without backing up any of your soundbites :T

I'm merely replying to you bringing up new points as you lose the argument on the previous. Anyone Reading back through this thread can plainly see that.

i've bothered to explain to you -you've said that you agreed with me before and now

I agree with you on one point which, I might add, had little to do with the original debate.

Now once again to reply to your new point.

do you think the credit crunch may have had anything to do with mortgage numbers instead of affordability in 2007...

who said anything about affordability?

Well anyway. yes I do, although combined with, rather than intead of affordibilty. Do you think the continuing dire economic outlook combined with the coming public sector job cuts, tax rises and worst austerity measures since WW2 might have something to do with the current mortgage numbers?

chucky

Henry_P_Chester wrote: »

I'm merely replying to you bringing up new points as you lose the argument on the previous. Anyone Reading back through this thread can plainly see that.
Well anyway. yes I do, although combined with, rather than intead of affordibilty.

a few post ago you had agreed with me - so yes people reading through this thread would see that.

but who cares anyway - only you

Henry_P_Chester wrote: »

who said anything about affordability?

i did - that's the key to getting a mortgage
you knew that right?

Henry_P_Chester wrote: »

Do you think the continuing dire economic outlook combined with the coming public sector job cuts, tax rises and worst austerity measures since WW2 might have something to do with the current mortgage numbers?

depends if there as bad as people say - so have no idea.

on the other hand if public sector job cuts aren't as extreme, austerity measures aren't implemented or aren't as bad, tax rises don't happen as severe as expected - do you expect house prices to rise?

Henry_P_Chester

chucky wrote: »

depends if there as bad as people say - so have no idea.

on the other hand if public sector job cuts aren't as extreme, austerity measures aren't implemented or aren't as bad, tax rises don't happen as severe as expected - do you expect house prices to rise?

If, combined with the above interest rates stay low, banks relax their lending criteria, re instate low LTV mortgages and increase their lending multiples exponentially year after year then yes prices will continue to rise.

Although the this would merely serve delay the inevitable.

chucky

Henry_P_Chester wrote: »

If, combined with the above interest rates stay low, banks relax their lending criteria, re instate low LTV mortgages and increase their lending multiples exponentially year after year then yes prices will continue to rise.

Although the this would merely serve delay the inevitable.

what's that then?

twadge_face

chucky wrote: »

what's that then?

End of the World, innit.

http://finance4free.com/marc-faber-total-collapse-will-come-economic-armageddon-dollar-crash
http://www.financialarmageddon.com/
http://www.marketoracle.co.uk/Article19079.html/
http://www.whatdoesitmean.com/index1335.htm
http://jeffords.blogspot.com/2010/03/economic-armageddon-courtesy-of-obama.html

[n.b. not vouching for any of the above as have not read any of it, just demonstrating what can happen if you ask a silly question, lol]