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Debate House Prices
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Halifax Hpi September 2010 -3.6%
Comments
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“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »No they won't.
On both counts.
Think you are probably right on the first count, so we will never know on the second.0 -
If they drop far enough, they will.
Exactly. The reason lenders are asking for 20/30% deposits is because they know prices are going to fall. Anyone foolish enough to buy now will llose their money, not the banks money. Once prices have returned to normal, the risks of further falls is reduced reducing the risk to the lender.0 -
How long is someone willing to put their life on hold to buy a house with a bit more knocked off? lol
Why do you think that not buying a house equals putting your life on hold?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
you don't seem to know what you're talking about or don't understand statistics.neverdespairgirl wrote: »It doesn't skew the data, it means it's measuring something different.
never mind but feel free to try again.0 -
HAMISH_MCTAVISH wrote: »And falling house prices are of no use when the people that most need the falls can't get mortgages.
Falling house prices are tricky, granted, as getting a mortgage will be harder.
However, your deposit, becomes worth more when prices are falling without you even adding to it. So thats cool.
You can actually save at a faster rate, as £1000 as a percentage of £200,000, is 0.5%. However, if prices fall to £150,000, your deposit is now worth 0.75%. Fall to £100,000, your deposit is now worth 1%. So if your ploughing money into the deposit at the same time as houses are falling, it's a bit like employer contributions to pensions, every bit you put in, falling house prices whack up what it's worth in percentages for you too. Neat eh.
Prices HAVING fallen however, are great.
You need prices to fall and go through the stage of falling to get there.0 -
des_cartes wrote: »Exactly. The reason lenders are asking for 20/30% deposits is because they know prices are going to fall. Anyone foolish enough to buy now will llose their money, not the banks money. Once prices have returned to normal, the risks of further falls is reduced reducing the risk to the lender.
Lenders will be more concerned with an applicants ability to meet the required monthly payments than house prices.
A deposit demonstrates an ability to manage money. Something which many including politicians seem to be lacking in the skills department.0 -
Thought for the Day
You may be able to buy a cheaper house BUT will you still have a job which will enable you to pay for it?
Laura
Yes. So not much thought needed. Next question?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
24 pages in the space of about 12 hours. You gotta love this board.
I'm on page 12 - have I lost 12?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
I think we need a few of those optimists, now what was that valid quote from St Augustine?
Optimists think we live in the best possible world. Pessimists know we do....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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