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Debate House Prices
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FTB's "Missing Deal Of A Lifetime"
Comments
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I`m not saying speculation should be punished. I`m saying that it is a dangerous game to play, by interfering in a so called free market, bailing out those who would have otherwise failed. If you take a risk (gamble) and lose, then you should lose. That`s what prevents more people from going into the bookmakers. As you say, modest HPI would be the best scenario. I would sugget that since 2001, HPI has been anything but modest, yet I keep hearing calls for a correction to be avoided.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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And the taxpayer hasn't spent a penny bailing out the banks. The taxpayer is making a profit at this point in time.
Just like Sibley is making a profit on his home ? Just like I am, apparently. I don`t think a profit is really a profit until it is realised. I recently sold some shares and took the profit. Until I sold those shares (which I believe is what the taxpayer intends to do with the bank shares that it now owns), the profit was only on paper.
Talking of shares, I bought them, knowing there was a risk, and my speculation paid off. I knew that there was a risk that they may have fallen in value. I wouldn`t have expected anyone else to cover any of my loss, should I have made one. BP has made the news recently, and it is widely known that investors in pension funds may well suffer a financial penalty because of the mistakes that BP have made. Will the taxpayer give any financial assistance to restore the lost value in these pensions ? I doubt it, and don`t expect it.
In my opinion, the UK property market has been given free reign to inflate itself beyond reasonable levels, and has done so at the expense of many other more productive areas of our economy. It`s come to the point where we really can`t afford for it to fall in value very far, so we are now relying on base rates being kept at a low level, and hoping that the banks will loosen lending criteria so that our economy doesn`t suffer. I really don`t think this is a good situation to be in. During the recent "boom", I spoke to many people about the possibilty of this happening, but most were too busy checking up on how much "wealthier" they had become in the last month to take any notice.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Buying and owning a house takes hard work,risks and you have worries a renter would never understand. The dripping tap doesn't fix itself, new fence doesn't suddenly appear etc etc.
Sibley, you Da Vinci among homeowners. We can only lament the fact that we all lack the the genius it takes to sort out the issues you raise in your post...
No, wait!
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Normal lending is 10% or less deposit around 5% interest, i.e. what we have had by and large for the past 10 years or so.
So normal lending is defined in an entirely arbitrary manner as suits your argument?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
So normal lending is defined in an entirely arbitrary manner as suits your argument?
this poster qestions another poster what normal lending is but is unabable to give an example of what they think normal lending is... oh dear... the irony is brilliant...
normal lending is determined by market environment....
lending is cheaper and easier to get when house prices are rising.
lending becomes more expensive and harder to get after house prices have fallen
it happens each and every time...0 -
this poster qestions another poster what normal lending is but is unabable to give an example of what they think normal lending is... oh dear... the irony is brilliant...
normal lending is determined by market environment....
lending is cheaper and easier to get when house prices are rising.
lending becomes more expensive and harder to get after house prices have fallen
Wouldn`t property market boom and bust be a thing of the past (as promised by a certain ex prime minister) if it were the other way around ?
I`ll add that I think we should really be discussing sensible lending, rather than what we think is "normal".30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
no idea - i don't make the rules and have control of what former PM's or even Chancellors say.Wouldn`t property market boom and bust be a thing of the past (as promised by a certain ex prime minister) if it were the other way around ?
define "sensible" lending?I`ll add that I think we should really be discussing sensible lending, rather than what we think is "normal".
ps. please don't, it's quite subjective really and depends on peoples circumstances and isn't a one size fits all answer unfortunately.
it requires a new thread...0 -
With low interest rates it's a good time to own a home.
:rotfl::rotfl::rotfl:
Genius ! (Not).
There are so many things I could pick out of Sibley`s post and destroy, but I simply haven`t got the time, and I`m not going to upset a fellow with a sword.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
this poster qestions another poster what normal lending is but is unabable to give an example of what they think normal lending is... oh dear... the irony is brilliant...
normal lending is determined by market environment....
lending is cheaper and easier to get when house prices are rising.
lending becomes more expensive and harder to get after house prices have fallen
it happens each and every time...
There is no irony you dullard. I made no attempt to define normal lending because it would have been just as arbitrary as julieq's arbitrary definition. If I had tried to define it I would have defeated my own argument.
"Normal" lending is determined by the market environment. Except for when the market is "supported" with lies and fraudulent mechanics such as self-certification mortgages.
If the governments had really had allowed the market environment to have its way without interference, the house of cards would truly have come down. The prosecutions for fraud would be a bloodbath and the indebted would be eye-deep in the ****. The landscape now would be very, very different.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
So how long would it take you to 'prudently' save the 25% deposit for an average house price of £250,000?
FTBers dont buy average houses, they buy cheaper houses. Average houses, on average, are bought by people trading up.
And according to the Nationwide survey, the average house price is £169K0
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