House price reality

doire_2

Bangkok-Dave wrote: »

Perfect answer.




Once this changes it will be business as usual in the housing market. There is no point selling your house now. The markets shot.
When lending gets sorted out it will be a free for all. Prices will go up. FTB's will buy when they can get money. Dropping the price won't get them into a home.

You didn't answer. You say the banks will start lending next year, but you also state prices will start to rise by June. Please show proof the banks will start lending within a couple of months and that their total lending will mean prices will rise by June

Until you do your nonsense is just wishful thinking on your part

Bangkok-Dave

You didn't answer. You say the banks will start lending next year, but you also state prices will start to rise by June. Please show proof the banks will start lending within a couple of months and that their total lending will mean prices will rise by June

Until you do your nonsense is just wishful thinking on your part

I can't show you proof anymore than you can show me proof house prices will fall.

You think you have a handful of facts and HOPE prices fall but there is no guarantee.

I'm going with human nature and greed.

At the moment bankers know there are thousands of wannabe homeowners straining at the leash. Don't forget they are the ones having to refuse quite decent people mortgages at the moment. People they would have said yes to a little while ago.

The bankers will be wanting them signed up with their bank and not a competitor. It won't be too long before somebody finds a way round this mortgage starvation then you just watch. We'll be back to 100% no deposit in no time.

doire_2

Bangkok-Dave wrote: »

I can't show you proof anymore than you can show me proof house prices will fall.

Cop out! :rotfl:

What a muppet

Oh and prices are falling. Just check Nationwide, Halifax etc

geneer

Joeskeppi wrote: »

I wonder why there's no willing buyers today yet there were more than you can shake a stick at when prices were higher.

Oh that's right, no one is allowed a mortgage anymore.

There's tons of willing buyers, they just don't have the means because banks treat FTBers like scumbags and as far as they're concerned have less risky people to lend money to first.

:rotfl::rotfl::rotfl:aka "pent up demand".

And that concludes todays entry for the bulls little book of pointless meme's.

purch

House price reality

Hang on Hang on...:eek:

We don't do that here.

It's either minus 70%, or plus 20%.

Reality is the last thing that get's discussed.

System

geneer wrote: »

:rotfl::rotfl::rotfl:aka "pent up demand".

And that concludes todays entry for the bulls little book of pointless meme's.

Well your rolling smilies and incorrect use of an apostrophe sure made me look silly.

I've noticed you spend a lot of time telling people they're wrong but never put up your own counter arguments, a pretty standard behaviour for someone without any.

Ah well, stick the the smilies.

doire_2

Joeskeppi wrote: »

I wonder why there's no willing buyers today yet there were more than you can shake a stick at when prices were higher.

Oh that's right, no one is allowed a mortgage anymore.

There's tons of willing buyers, they just don't have the means because banks treat FTBers like scumbags and as far as they're concerned have less risky people to lend money to first.

You can get a mortgage if you do the right thing and save for a decent deposit. It can be done you know.

DervProf

Joeskeppi wrote: »

Oh that's right, no one is allowed a mortgage anymore.

I`m sure that`s not true. I recently heard that somethink like 40,000 mortgages were granted last month.

Joeskeppi wrote: »

There's tons of willing buyers, they just don't have the means because banks treat FTBers like scumbags and as far as they're concerned have less risky people to lend money to first.

There are "tons" of willing Porsche buyers, they just don`t have the means to buy one.

And why shouldn`t a bank lend to lower risk borrowers first ? FTBers will become lower risk borrowers when they have saved up a deposit (Remember deposits ? - those things that proved you were financially capable, and lessened the amount you needed to borrow) and house prices have fallen to a level where the FTBer's mortgage doesn`t pose such a risk to the lender.

System

DervProf wrote: »

I`m sure that`s not true. I recently heard that somethink like 40,000 mortgages were granted last month.

Thanks for correcting my obvious exaggeration

DervProf wrote: »

There are "tons" of willing Porsche buyers, they just don`t have the means to buy one.

I think that's what I was getting at.

DervProf wrote: »

And why shouldn`t a bank lend to lower risk borrowers first?

Didn't say they shouldn't

My point was that there are a lot of willing buyers but they don't have the means, contradictory to the bilge macaque is spewing in the OP.

dizziblonde

DervProf wrote: »

I`m sure that`s not true. I recently heard that somethink like 40,000 mortgages were granted last month.




There are "tons" of willing Porsche buyers, they just don`t have the means to buy one.

And why shouldn`t a bank lend to lower risk borrowers first ? FTBers will become lower risk borrowers when they have saved up a deposit (Remember deposits ? - those things that proved you were financially capable, and lessened the amount you needed to borrow) and house prices have fallen to a level where the FTBer's mortgage doesn`t pose such a risk to the lender.

I don't get where this "thou cannot get a mortgage" thing is coming from to be honest. We bought last month - got a mortgage with minimal issues really as FTBs with a 10% deposit - and considering my income's a total disregard for mortgage purposes anyway and, well I've got student-era financial mistakes in my past... heard all the apocalyptic nonsense about how impossible it was going to be for us to get one and it was remarkably uneventful really. We could have probably even got one of the local building society's 95% deals - just not on the income multiple we needed - and got a slightly smaller place.

As it is, works out at about £50 a month less on the mortgage than to rent the identical house three doors down that we were renting, and yes, interest rates will go up when our 5 year fixed finishes - but we've planned around that because I'm old enough to remember interest rates going nuts in the past. Other stuff's now selling round here fairly steadily as well, after sitting stagnant for a year or so - things are moving around here, but I suspect it's partially due to a tram extension that was looking dicey being given the official "it's ok you've escaped the budget cuts" seal of approval.

If the financial fantasy value of the house goes down in the short term - it goes down... ultimately it only matters when you actually come to sell and get the money in the bank anyway - and since it's a long-term move for us - I'm not worried. Plus the freedom from amateur idiot buy to let landlords not wanting to do repairs, from letting agents treating you like the scum of the earth and sending you letters reminding you to clean your house if you want your deposit back (we seriously recieved one of these the other day) and the constant "is the landlord going to decide to sell and kick us out" threat of rental is utterly priceless to be honest. I didn't realise how badly that dragged you down until we completed and all of a sudden the constant worry of what will break and we'll have to fight to get the LL to fix next was lifted from my shoulders.

Mortgages are out there - they're just not offering 300k with no deposit for you to buy a garden shed anymore.