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Debate House Prices
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FTB's "Missing Deal Of A Lifetime"
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no idea - i don't make the rules and have control of what former PM's or even Chancellors say.
It was a simple question/suggestion for debate. I wasn`t asking you to implement the idea that I put forward. I know that what we say here won`t make any difference, but I think most of us are here to voice our opinions and to discuss the (mainly) ups and downs of the property market.
I`ll try to explain.
If interest rates (and therefore mortgage repayments) rose when property prices increased, but fell as property prices fall, I suspect that the property market might not attract so many speculators, and would therefore be a lot more stable.
I wish we did have a little more control over what the previous PM and Chancellor said and did. Maybe we would be in a better financial position.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
oh dear, what a great start...There is no irony you dullard.
so you're not going to define it?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.
hold on... you've changed your mind in one post and are now defining it... how many personalities do you actually have??"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.
don't you mean if the government had done what Orpheo wanted, it would have allowed the market enviornment to do what Orpheo needed it to happen.If the governements 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.
chin up Oreo, don't worry about it. you'll understand one day0 -
i'll explain.If interest rates (and therefore mortgage repayments) rose when property prices increased, but fell as property prices fall, I suspect that the property market might not attract so many speculators, and would therefore be a lot more stable.
there's a bit more to interest rates mechanics than UK house prices - the BOE makes decisons on interest rates reltated to the economy not so that Willy from Walsal on £12k a year can afford to buy a 3 bed room house .0 -
Oh for a rollseyes smiley. Is this Chucky's Revenge?oh dear, what a great start...
so you're not going to define it?
hold on... you've changed your mind in one post and are now defining it... how many personalities do you actually have??
don't you mean if the government had done what Orpheo wanted, it would have allowed the market enviornment to do what Orpheo needed it to happen.
chin up Oreo, don't worry about it. you'll understand one day
Your response is typically full of strategies that avoid the fact that you have nothing to add but nose-thumbing.
What makes you think that it would have suited me if the S had been allowed to HTF? On the contrary, I suspect that my significant savings deposits would have been lost in the black hole, such is the fraud.
I have two personalities, one for chucky and one for everyone else.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 -
oh it was a bit more than that from looking at the type of post you replied with.Your response is typically full of strategies that avoid the fact that you have nothing to add but nose-thumbing.
nice work - you got to love the standard issue house deposits that people feel the need to boast about on this forum. did it make you feel better telling me and the rest of the forum about the significant savings deposit that you 'have'?What makes you think that it would have suited me if the S had been allowed to HTF? On the contrary, I suspect that my significant savings deposits would have been lost in the black hole, such is the fraud.0 -
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 £169K
Not true anymore.
With the age of FTB's being into the 30's, many require something more than the starter home.
The starter homes were bought up by the BTL's and rented out to those who couldn't afford the same starter home.0 -
aren't they allowed to rent?Graham_Devon wrote: »Not true anymore.
With the age of FTB's being into the 30's, many require something more than the starter home.
The starter homes were bought up by the BTL's and rented out to those who couldn't afford the same starter home.
but anyway... age has nothing to with it - the average of FTBs is basically the same as it was 20 years ago. this was explained to you just yesterday on this very thread...
and so it begins... 20 pages of explaining to graham what was just explained to him yesterday...0 -
no idea - i don't make the rules and have control of what former PM's or even Chancellors say.
define "sensible" lending?
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...i'll explain.
there's a bit more to interest rates mechanics than UK house prices - the BOE makes decisons on interest rates reltated to the economy not so that Willy from Walsal on £12k a year can afford to buy a 3 bed room house .
True, it isn`t just about house prices. However, I have a hunch that when the BoE meet to discuss the setting of the base rate, they are more concerned about house prices than they let on. Only a few years ago, at the peak of the boom, they stated several times that when it comes to setting the rate, they don`t concern themselves with the property market, they were targetting CPI, which doesn`t include the cost of property buying/renting. I said at the time that they were backing themselves into a corner, because their actions were doing nothing to stop rapid HPI, and once house prices became too high, they would have a big problem to deal with.
I suppose the argument against increasing the base rate that many will put forward is to help businesses. I think the real reason that the BoE will resist any rise in IR is because of the effect it will have on the heavily indebted public. No doubt a 1% rise in rates will not help some businesses, but it would have a far greater effect on the property market. I don`t think a small business with a modest amount of debt would be too troubled by a small increase in the cost of their overdraft, it`s the effect on their customer`s that would be a bigger problem.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
FTB are having trouble getting a mortgage? Good!
The solution? Save for a deposit. It makes better sense in the long run. It also makes you more responsible0
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