Uber Bears admit defeat over on hpc

Blacklight

I noticed Realistbear's 180° about turn over the weekend. Lately I've been saying that it's all over... no more need for talk of house prices declining, economic decline, doom & gloom. Game's over. It's almost 2011, four years since peak house prices and four years closer to recovery.

Good on him for having the bоllocks to hold his hands up and say he got it wrong all these years. Most people would carry on bleating and complaining.

Sibley

Probably because it is entertaining

Oh yes. That as well.:)

I think the HPC rejects like Hamish and sleazy Sibley should have their own sub-forum and then they can obsess to each other all day long about how they don't miss HPC and how they're really not bothered that HPC banned them for being trolls.

Hey Gloomy.

Now HPC has banned you would you be interested in the sub-forum as well? :rotfl:

I'm going to buy you a jesters hat with bells on for Christmas.

You've been shafted by your mates. You must feel like the village idiot after all the sticking up for them you have done. :rotfl:

Graham_Devon

Blacklight wrote: »

I noticed Realistbear's 180° about turn over the weekend. Lately I've been saying that it's all over... no more need for talk of house prices declining, economic decline, doom & gloom. Game's over. It's almost 2011, four years since peak house prices and four years closer to recovery.

Good on him for having the bоllocks to hold his hands up and say he got it wrong all these years. Most people would carry on bleating and complaining.

If we can keep interest rates this low, or maybe even lower them further, for a decade or two, then you may well be right.

However, if interest rates stayed that low that long, it would create absolutely massive problems, which would stem from existing problems currently (hence rates being so low). May be ok for your house owning lifetime and may sort you out, but yoru kids....absolutely royally screwed over.

If interest rates start going up, it's a whole new ballgame.

What many have been wrong on, both bull bear and inbetween, is when rates will rise. NO ONE on this forum or anywhere else I have seen, thought rates would eb as low as they are for this long. God knows how long it will go on for. But the fire just gets bigger and bigger every month, and were stoking each month we keep rates where they are. Allows for more and more to continue being priced out, and allows for those already in the market to stay there, just.

Welcome to stalemate, and the BOE is playing god.

The one thing bulls do have on their side still, is appetite. Appetite for debt. Hardly anyone in this country has suffered due to the amount of debt they have, thanks to loads of bailout policies for homeowners, easy bankrupcy, etc etc.

People see absolutely no danger on taking debt now, so if they can max out on a mortgage, will, and it will be encouraged.

A lot of us did think people would start to hurt because of debts, and bunker down. In reality, it wasn't needed, as the only people who paid the price for all the debt, was those without it, and those who'd built themselves an income from savings.

Blacklight

If interest rates start going up, it's a whole new ballgame.

No it isn't. Transactions have been at record lows because no-one has been able to borrow since 2008. Who's going to feel the pinch when they rise? The few who were lucky enough to borrow over the last three years and were forced to have 40-50% (a number that's frequently quoted by complaining FTB's on these forums) equity before they were able to borrow? Or the people that were perfectly happy before rates were reduced and have been paying off their debt wit the extra cash (evidenced by very low net mortgage lending). BTL borrowers who have all but paid off their mortgages with high rents and low interest rates?

I fail to see how interest rate rises affect anyone other than those that will have missed the boat yet again by sitting on their hands while rates have been at 0.5%.

Face facts, it's game over.

Aberdeenangarse

Another uber bear They're falling like nine pins!

http://www.housepricecrash.co.uk/forum/index.php?showtopic=155699

I am going to be making some big decisions over Christmas between house buying in the next couple of months or simply upping sticks and going elsewhere

Graham_Devon

Blacklight wrote: »

No it isn't. Transactions have been at record lows because no-one has been able to borrow since 2008. Who's going to feel the pinch when they rise? The few who were lucky enough to borrow over the last three years and were forced to have 40-50% (a number that's frequently quoted by complaining FTB's on these forums) equity before they were able to borrow? Or the people that were perfectly happy before rates were reduced and have been paying off their debt wit the extra cash (evidenced by very low net mortgage lending). BTL borrowers who have all but paid off their mortgages with high rents and low interest rates?

I fail to see how interest rate rises affect anyone other than those that will have missed the boat yet again by sitting on their hands while rates have been at 0.5%.

Face facts, it's game over.

Interest rates will have an affect on everyone. It takes more money out of all mortgage holders pockets, and has side effects on the economy and business, and the countries finances as a whole.

To pretend they will have no impact is more stupid than some of the guff I've wrote on here in the past.

Lance

Joeskeppi wrote: »

I love the concept that using reference material do back yourself up is "sad".

Maybe we should just post monkey pictures as our evidence instead.

Scanning the internet looking for 'evidence' that you are right on a daily basis is sad imo.

Yes I look at HPC and this website but I don't fanatically link constantly to every post I agree with. We do not know what will happen with house prices as the current climate is artificial, interest rates & QE etc, and whilst I believe they will fall further I am not an obsessed Hamish who dances with joy on finding any pro HPI article and constantly posting them. Does he not realize his kids will never be able to afford a home if HPI continues or is he all alone with his house.

Should we sacrifice our childrens chance at home ownership so that 100% interest only mortgage owners stuggling with low interest rates can survive and mew their way through the monthly increase in their homes value.

I agree you should post monkey pictures of yourself as evidence.

Bangkok-Dave

However, if interest rates stayed that low that long, it would create absolutely massive problems, which would stem from existing problems currently (hence rates being so low). May be ok for your house owning lifetime and may sort you out, but yoru kids....absolutely royally screwed over.

If interest rates start going up, it's a whole new ballgame.

No it isn't. What makes you think that?
Don't you understand? We have had houses for years. This 0.5% lark is just a bonus for us. I was happily paying 6% only 2 years ago and never missed or even looked like missing a payment. Most people have been overpaying their mortgage and have knocked a chunk off.

I'll be gutted if rates went up but I could pay it.

You sound like one of these people they interview on the streets when rates go up 0.1%. Telling everyone you won't be able to manage paying an extra 10 quid a week.

Just not having a !!!!!! on a Friday night would save most people 100 quid a month. There is a long way to go before people will start missing mortgage payments.

Blacklight

Graham_Devon wrote: »

Interest rates will have an affect on everyone. It takes more money out of all mortgage holders pockets, and has side effects on the economy and business, and the countries finances as a whole.

To pretend they will have no impact is more stupid than some of the guff I've wrote on here in the past.

So growth over the last couple of quarters has only been so strong because of the people that are flittering away their new found wealth due to lower interest rates on strippers, beer and wide screen TV's?

Once they stop it's back into recession?

Do we have to have the net mortgage lending conversation again?

JonnyBravo

Bangkok-Dave wrote: »

Just not having a !!!!!! on a Friday night would save most people 100 quid a month.

<--- bites lip



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