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Debate House Prices
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Nationwide Feb +0.3%
Comments
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Little surprise here as the market continues to decline (approvals & transactions). In theory if IR's stay as are and banks continue by and large to lend sensibly we could see prices rise considerably as approvals and transactions continue their slide.
The problem comes I guess when you think your house is worth £xxxxxxx (because of media and VI's) and you try and sell and it sits on the market for years, which is pretty much what is happening now.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0 -
The problem comes I guess when you think your house is worth £xxxxxxx (because of media and VI's) and you try and sell and it sits on the market for years, which is pretty much what is happening now.
I was chatting to a mate who's in London the other day and he reckons that the market is basically dead. He's looking at a move from batchelor pad to family home. He works in finance and knows full well how a market works as he is a very big part of one!
Despite that, he told me that his place was worth £500,000 but he'd only be able to sell for £450,000.
Don't feel too bad for him. He's got no mortgage aged in his late 30s.0 -
Saw the headline and thought of you all. Surprised we are not on page 10 yet.
Looks like a stagnant year (again) which is surprising as I was expecting falls of around 5-7% for the year.
Hope you are all keeping well.
Toodle pip.0 -
once again my view for the people waiting to buy.
Yet another 3 months past where you paying someone elses rent all the while iNTEREST rates for mortgage are starting to rise. how long will you wait to buy a house?0 -
the market continues to decline (approvals & transactions).
as approvals and transactions continue their slide.
.
Wrong again AD....LONDON (Reuters) - Mortgage approvals picked up more than expected in January and mortgage lending rose to its highest in almost a year, Bank of England figures showed on Tuesday.
The Bank of England said mortgage approvals numbered 45,723 in January, up from 42,719 in December, a month that had been impacted by the country's harshest cold snap in one hundred years. Analysts had forecast a reading of 43,000.
The figures tally with a survey from mortgage lender Nationwide on Tuesday which showed house prices rose unexpectedly in February.“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 -
At the end of the day any rise will make the bears spew.
They love even 0000.1% drops as to them it means things are going the right way.
Rises mean their plans are scuppered. All their graphs,views and opinions count for nothing. They are wrong again and look like mugs.
I know it's harsh pointing this out but it needed saying.It bothers you, thats why your here every day.......not a good day today tho, is it?
Take it easy on him fella. He's been humiliated :rotfl:We love Sarah O Grady0 -
HAMISH_MCTAVISH wrote: »Wrong again AD....
Or maybe not
January sees decline in gross mortgage lending
http://www.economicvoice.com/january-sees-decline-in-cml-gross-mortgage-lending/50016767#axzz1FLFHtWwJThe Council of Mortgage Lenders (CML) has reported a drop in gross mortgage lending of 13% from £10.6 billion in December to £9.2 billion in January 2011.Its also down on a January last year (48k in Jan 10)Depends which stat you take.
Recovery - full steam ahead?0 -
It bothers you, thats why your here every day.......not a good day today tho, is it?
Bothers me? I dont think. Maybe you forget im from the north of Ireland. Prices down 40% from peak so far.
Take it easy on him fella. He's been humiliated :rotfl:
Sibley, humiliation is being married to an ex hooker 0
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