Debate House Prices


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House Price Rant

From Steve Morgan, chairman of Redrow via the excellent FT Alphaville blog:
In recent months there has been much scaremongering in the media about the state of the housing market. Although the market has undoubtedly been affected by the current economic climate, underlying demand remains strong as there are tens, if not hundreds of thousands of people wanting to buy their first home. Private sector rents are rising as first time buyers are being stifled by the chronic shortage and affordability of mortgages. Most people are left with little choice but to go into the private rented sector or live with their parents. Every week we are forced to turn away potential purchasers simply because they do not have a deposit of 25% or more; people with excellent jobs who under normal circumstances would easily qualify for a mortgage...

It continues here:

http://ftalphaville.ft.com/blog/2010/11/04/394276/house-price-rant/

and I very much recommend that you give it a read.

Enjoy!
«13

Comments

  • Generali wrote: »
    From Steve Morgan, chairman of Redrow via the excellent FT Alphaville blog:



    It continues here:

    http://ftalphaville.ft.com/blog/2010/11/04/394276/house-price-rant/

    and I very much recommend that you give it a read.

    Enjoy!

    gentleman, & chairman of Wolverhampton Wanderers! You forgot to include that in your OP gen!:D
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • zappahey
    zappahey Posts: 2,252 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Great rant but, like most rants, riddled with inaccuracies and he seems to be confusing desire with demand.
    What goes around - comes around
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    lemonjelly wrote: »
    gentleman, & chairman of Wolverhampton Wanderers! You forgot to include that in your OP gen!:D

    I did and for that I apologise. I even know that he is!
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    zappahey wrote: »
    Great rant but, like most rants, riddled with inaccuracies and he seems to be confusing desire with demand.

    Oh I agree. It's not accurate at all. It is a lot of fun though.

    I can't remember who said, "Speak in anger and you'll make the greatest speech you'll ever regret".
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    lemonjelly wrote: »
    chairman of Wolverhampton Wanderers!
    what a clown he is

    he couldn't buy Liverpool so he bought what he could afford...

    it's like someone on the minimum wage saying that house prices are too expensive when they can't buy a 6 bedroom detached house.



    <breathe Lemonbelly breathe, before you reply>
  • ILW
    ILW Posts: 18,333 Forumite
    He could just drop the selling price of the houses he builds if he is so sympathetic with FTBs
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Generali wrote: »
    From Steve Morgan, chairman of Redrow via the excellent FT Alphaville blog:



    It continues here:

    http://ftalphaville.ft.com/blog/2010/11/04/394276/house-price-rant/

    and I very much recommend that you give it a read.

    Enjoy!

    I have a little sympathy as my first mortgage in 1988 was 95% (should have been 100% but the valuation was only 95%).
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    chucky wrote: »
    what a clown he is

    he couldn't buy Liverpool so he bought what he could afford...

    it's like someone on the minimum wage saying that house prices are too expensive when they can't buy a 6 bedroom detached house.



    <breathe Lemonbelly breathe, before you reply>

    1....2....3....4....5....6....7.....8....9....10!!!!!
    Generali wrote: »
    I can't remember who said, "Speak in anger and you'll make the greatest speech you'll ever regret".

    mushroom-cloud.jpg
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • treliac
    treliac Posts: 4,524 Forumite
    Are the banks hanging on to their money because they have an idea of how many mortgage defaults they'll be having to deal with?
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    lemonjelly wrote: »
    1....2....3....4....5....6....7.....8....9....10!!!!!



    mushroom-cloud.jpg

    Wolves sure up their defence with a thermo-nuclear land mines.
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