House prices....

Easymoney

x12yhp wrote: »

There are a million and one reasons why a recovery cannot happen... but there are very few which point to a sudden implosion.

Here are just a couple of reasons in todays news, that point towards an implosion

http://www.bbc.co.uk/news/uk-northern-ireland-12185435

http://www.bbc.co.uk/news/uk-northern-ireland-12185442

motorguy

Easymoney wrote: »

Here are just a couple of reasons in todays news, that point towards an implosion

http://www.bbc.co.uk/news/uk-northern-ireland-12185435

http://www.bbc.co.uk/news/uk-northern-ireland-12185442

A strong percentage of those loses will come from natural attrition, voluntary redundancies and retirement over a long period of time.

As for the DARD link, 80 jobs is a drop in the ocean particulary given attrition, voluntary redundancies and retirements.

x12yhp

Easymoney wrote: »

By law you are paying a mortgage in a legally binding contract, its not an ideal. I assume you did read it before signing.

I have referred to the wider demographics of NI, rephrasing the FTB'er question, how many were in a household less than £40k, as for named individuals, it is only fair to ask, are they renting exclusively from their own salary, its easy to save with two salaries coming in.

Again, if you had answered my question about your own salary, you'd see the housing game in a different light.

If renting is so profitable, why arent you still doing so? we'll soon call your bluff!!

Ok then. It happens that we did end up separated and now divorced. It also happens that I remain without a pile of bricks to call my own and it also remains that I am saving plenty because I have spent the last few years working hard and improving my income.

You are continuing to ignore my key point to you. You are looking at property as a basic RIGHT. It is NOT.

Easymoney wrote: »

Here are just a couple of reasons in todays news, that point towards an implosion

http://www.bbc.co.uk/news/uk-northern-ireland-12185435

http://www.bbc.co.uk/news/uk-northern-ireland-12185442

Those are possible problems but are not definite signs. Even if those jobs go, there has been a lot of effort to make sure that people do not end up tossed out. These people may get mortgages paid by the state, for instance. The numbers are relatively small, in the grand scheme, and could be dealt with. Until there is a problem which impacts the masses, I will not be convinced that the implosion is imminent.

I should make it clear that I am absolutely convinced that pricing remains much too high. I just do not yet see when the drop will come. At present we are in for a long, slow deflation in HPs. If interest rates were to rise to deal with inflation elsewhere, then things may well be different.

Easymoney

pgilc1 wrote: »

A strong percentage of those loses will come from natural attrition, voluntary redundancies and retirement over a long period of time.

As for the DARD link, 80 jobs is a drop in the ocean particulary given attrition, voluntary redundancies and retirements.

DARD has been talking about natural wastage for years, even doing away with certain grades. I would rather not see this happening... but it is, hopefully not the start of something bigger.
I heard this morning that DRD are struggling to make ends meet, possibly raising car parking fees.

These are departments with a set budget forecast for the next financial year, try telling that to industry without a certainty of future revenue.

IHMO the NI economy is living beyond its means so its inevitable that the workforce will shrink. Whilst this may not affect you directly, depending on what region you live in, local community could be hit hard, nobody is immune from this. Have a look at the NI census to see what proportion of people (in your area) work in public sector. note - the data is 10yrs old and a new census will be created this year.

Easymoney

x12yhp wrote: »

I am saving plenty because I have spent the last few years working hard and improving my income..

Is this not saying the same as what I have already been implying......that if you work hard then you should expect to reap the rewards and be in a financially secure position to have a roof over your head, which is financially sustainable.

x12yhp wrote: »

You are continuing to ignore my key point to you. You are looking at property as a basic RIGHT. It is NOT..

At no point did I say it was someones right, try explaining your ideology theory to the consumer rights council.

donglemouse

crusty_toenail wrote: »

It would be interesting to know how many houses are actually selling, does anyone know where you can get this info?

The University of Ulster Quarterly House Price Index quotes figures for the whole of NI & a breadkown by house type e.g. detached, apartment etc. It's free & you can download it from their website

From memory at the moment it's around 3,000 to 4,000 sales per year across NI versus something more akin to 10,000 around the 2007 peak

x12yhp

Easymoney wrote: »

Is this not saying the same as what I have already been implying......that if you work hard then you should expect to reap the rewards and be in a financially secure position to have a roof over your head, which is financially sustainable.

You have not, until now, added the 'work hard'. If people work hard then they do deserve rewards. My point is that a lot of people do NOT work hard and still expect it. Working hard does not just mean working 9-5, monday to friday. It means doing everything necessary to get what you want. A lot of low to medium earners are gliding through life and not making the extra effort. So why should they necessarily be entitled to a house?

At no point did I say it was someones right, try explaining your ideaology theory to the consumer rights council.

Until your former post, you had not excluded anyone from your arguments. My ideology is not in conflict with the consumer rights council. I am not sure the relevance of the reference. The CRC is concerned with what happens after a purchase. I am arguing about what happens before. I have ever heard about the CRC taking up a case with anyone because they think that consumers should be able to afford it yet cannot...

Easymoney

x12yhp wrote: »

You have not, until now, added the 'work hard'. If people work hard then they do deserve rewards. My point is that a lot of people do NOT work hard and still expect it. Working hard does not just mean working 9-5, monday to friday. It means doing everything necessary to get what you want. A lot of low to medium earners are gliding through life and not making the extra effort. So why should they necessarily be entitled to a house?




Until your former post, you had not excluded anyone from your arguments. My ideology is not in conflict with the consumer rights council. I am not sure the relevance of the reference. The CRC is concerned with what happens after a purchase. I am arguing about what happens before. I have ever heard about the CRC taking up a case with anyone because they think that consumers should be able to afford it yet cannot...

Just to clarify, you raised (should I say insinuated) the issue of RIGHTS post #105 it wasn't in my posts or my outlook on the housing market.
You purchased a house therefore you/OH have rights to the ownership of that house.

At what point did I infer that people on circa £20k were not working hard (ahem nurses/teachers etc)

Define hard work?

Plus, what makes you so different that you have worked so much harder (or think you have) that you deserve the RIGHT to have a house more than your peers.

As for excluding people in my posts, I can only portray so much information in several paragraphs of forum format and etiquette.

x12yhp

Easymoney wrote: »

Just to clarify, you raised (should I say insinuated) the issue of RIGHTS post #105 it wasn't in my posts or my outlook on the housing market.
You purchased a house therefore you/OH have rights to the ownership of that house.

At what point did I infer that people on circa £20k were not working hard (ahem nurses/teachers etc)

Define hard work?

Plus, what makes you so different that you have worked so much harder (or think you have) that you deserve the RIGHT to have a house more than your peers.

As for excluding people in my posts, I can only portray so much information in several paragraphs of forum format and etiquette.

Eeek. I give up!

So renting is a waste of money and no one should do it, whether they have enough money to afford to buy a house of not. But only if someone works hard enough. I got it.

Snoozle

x12yhp wrote: »

You have not, until now, added the 'work hard'. If people work hard then they do deserve rewards. My point is that a lot of people do NOT work hard and still expect it. Working hard does not just mean working 9-5, monday to friday. It means doing everything necessary to get what you want. A lot of low to medium earners are gliding through life and not making the extra effort. So why should they necessarily be entitled to a house?

I think you have made a lot of really valid points, and I agree with a lot of what you have been saying but I find this post a bit insulting. I have been in the position in the past of working horrendously long hours, in a stressful but ultimately dead end job (although it was a huge company, promotion opportunities were non existent, as they preferred to bring staff in from outside rather than train them). I was paid a pittance. We didn't get paid overtime, we were barred in our contract from taking a second job (so no opportunity to earn extra money) , and even doing voluntary work was not looked upon kindly (so no opportunity to boost my CV through other means). This job effectively trapped me, and since I am female, by the time I escaped the job, I was then catapulted headlong into the world of juggling work with childcare, which doesn't lend itself to high earnings either. So, high earnings? No, I don't have those. Hard work? I've done plenty of that, and will continue to do so. But I don't think I have ideas above my station for wanting to own my own home. I just thank my lucky stars that I am old enough for this to have been possible, whereas people in similar circumstances to me but ten years younger haven't a hope of doing the same at present.

Its good to have something to aspire to which is difficult but achievable. But I really pity anyone who is in their early 20s now and all they have to look forward to is huge student loans, poor job opportunities, higher taxes, less affordable housing, and a pension time bomb at the end of that.