Most are finding life far worse, so what do we need, higher house prices!!

Graham_Devon

Blacklight wrote: »

Doesn't really matter what your view is, the fact is that inflation is inevitable. I'm still not sure why some people think there will be 80% deflation of house prices in the the forthcoming months... seems a bit 'we didn't land on the moon, Bush blew up the trade center and Freddie Star ate my hamster' to me.

I'm not sure why you think that.

I'm more shocked stevie is thanking the drivel.

the_flying_pig

DervProf wrote: »

I`m so glad I dont work in an office. I`m sure a lot of such workplaces have characters like number 1 in your list.

How do you avoid telling him he's a completely selfish c**k every day ?

Well, maybe.

Everyone, me first, cares about their own pocket first and someone else’s pocket second.

If this chap was cerebral enough [in one view of the world – another would be that I’m a mouth-foaming lunatic when it comes to discussing HPs so it’s a topic best avoided] to have such a discussion to me, if he said something like:

“Well, y’know, obviously HPI doesn’t particularly help us as a society or an economy, it’s zero sum at best and indeed it may damage our competitiveness etc…

and obviously no-one knows for sure if we’re going to get HPI anytime soon or not (i.e. whether the huge drop-off in demand resulting from the end of the credit bubble was big enough to push prices down very far or only big enough to stall them for a few years)…

But I personally would like to see HPI because it’s the best thing for me personally”

, then I would absolutely respect that.

It’s only a fool like Hamish trying to argue on all three grounds [i.e. that rampant, immediate HPI is wonderful for everyone, that it’s inevitable, and that he wants it for himself] that makes me cross.

StevieJ

Graham_Devon wrote: »

And what makes a smaller deposit?

Higher initial prices.

10k deposit is 5% of 200k.

10k deposit is 7.5% of 150k.

Therefore lower prices = larger deposit percentage = better rates.

And a deposit on a 100% mortgage is 0% of anything

wymondham

Rinoa wrote: »

70% of consumers own their own homes.

You really think they would be happier if their home lost 20/30% of its value?

yes. I'd be happy if my house was worth the same as i paid for it many years ago.... house price rises benefit nobody. especially my children!

molerat

wymondham wrote: »

yes. I'd be happy if my house was worth the same as i paid for it many years ago.... house price rises benefit nobody. especially my children!

House price rises do benefit the children though, when I pop off they will get a bigger cheque than they otherwise would have done (unless I do an equity release and spend it all on beer and wimmin )

StevieJ

molerat wrote: »

House price rises do benefit the children though, when I pop off they will get a bigger cheque than they otherwise would have done (unless I do an equity release and spend it all on beer and wimmin )

I think that is what they are worried about, a lot of the bears appear to have a pathological hatred of people borrowing against their property.

Graham_Devon

StevieJ wrote: »

I think that is what they are worried about, a lot of the bears appear to have a pathological hatred of people borrowing against their property.

Stop being stupid stevie.

People have problems with those who have mortgages themselves to the hilt, and then claim SMI payments, from taxpayers.

Over half of the total people in receipt of SMI, were over 50.

There is going to be an element of remortgaging and remortgaging that has got these people in trouble, and now claim from the taxpayer.

People have issues with debt being seen as wealth. I have never once seen someone suggest that people who can afford to remortgage, and simply pay their new mortgage payment are an issue.

If you wish to talk absolute nonsense, then thats fine, but don't direct that nonsense at people you obviously take issue with.

ILW

molerat wrote: »

House price rises do benefit the children though, when I pop off they will get a bigger cheque than they otherwise would have done (unless I do an equity release and spend it all on beer and wimmin )

Seems that many will be in their sixties before they can afford their own place with an inheritance to buy it with.

PasturesNew

RenovationMan wrote: »

Falling interest rates mean people have more money to spend on other stuff. Even several grand off the purchase price of a house makes little difference to monthly repayments.

Falling interest rates mean that savers have less money to spend on stuff.

I would be spending £700/month on stuff if rates were back where they were in 2007. Stuff like: renting an overpriced flat.

PasturesNew

When I bought my house 10ish years ago, the one I really wanted cost £85k more. It now costs £750k more than what I sold my house for.

Without HPI I could have worked towards paying down the first house and getting another mortgage on the one I really wanted. No chance of that with such an increase in value having occurred over that time.