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Debate House Prices
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The time-bomb ticking under Britain's house prices
Comments
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Ahh, Five Live. The place for the world's greatest economists.
There are no great economists, most of them were wrong.
However, which station should I be listening to in the car on the way home, to listen to the right ones?
Normally tune in if theres something going on that I want to listen to. Otherwise, it's the local radio station. Can't think of any other radio station that has more than just a mere soundbite of the news, or whats going on.0 -
So, currently paying 2%, saved £200 a month for 18 months, rate goes up to 4% (still lower than fixed), save £60 instead... sounds like a ticking time bomb to me.0
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Graham_Devon wrote: »
Interest rates don't really bother me. The mortgage is tiny. I opted for a smaller mortgage when buying. The cost of getting to work costs me more than my mortgage each month....so fuel is my thing!!
If you were that much in control with interest rates over 7% you should have bought a full house.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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Graham_Devon wrote: »There are no great economists, most of them were wrong.
However, which station should I be listening to in the car on the way home, to listen to the right ones?
Normally tune in if theres something going on that I want to listen to. Otherwise, it's the local radio station. Can't think of any other radio station that has more than just a mere soundbite of the news, or whats going on.
I was only joking Graham, I'm sure Five Live is ace for economic news.
I get most of my economic news from Radio 1. For example, Joseph Stiglitz was a guest on The Scott Mills Show last Thursday. They discussed Stiglitz's research on efficiency wages and the theory of whether unemployment really is driven by the information of the structure of capital, or whether the neoclassical paradigm could be used to explain involuntary unemployment. Then they had old Joe introduce Tinnie Tempah's new single before getting him to play 'Innuendo Bingo'.
Radio 1 have a long standing involvement with prominent economists. Do you not remember Alan Greenspan introducing The Wombats on the Introducing Stage at last year's One Big Weekend Festival?0 -
Graham_Devon wrote: »You are just showing pure ignorance now stevie.
Explanation required to cure my ignorance, please.The mortgage is tiny. I opted for a smaller mortgage when buying'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I have a BofE base rate +0.74% lifetime, offset tracker mortgage. I haven't seen a suitable fix that would tempt me to switch. Offer me 10 years at 3.5% and I might reconsider my position.
Otherwise, I was happy with my mortgage when base rates were 5.75% - anything lower is a bonus. I might have a bonus for a few months yet.
I think prices will fall. Most houses should cost no more than 5 x single income or 3 x double income IMHO.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Graham_Devon wrote: »Many of those now, due to negative equity, wil not be able to fix.
Take a look at myself. Was on a 4.5% fix. Then went to 7.75%. Now dropped to 3.5% (getting some money back now apparently).
I won't be able to fix again. They will require that I have a LTV rate, but I don't. The house has fallen in value. I will have to stay on SVR.Graham_Devon wrote: »Thanks cleaver, but as I say, my mortgage is tiny. It wouldn't be worth the fee's to sign up to products to fix.
eh what? am i missing something?0 -
Gorgeous_George wrote: »Most houses should cost no more than 5 x single income or 3 x double income IMHO.
Most houses that people buy don't cost more than 5 times their single or 3 times their joint income....“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 -
chewmylegoff wrote: »eh what? am i missing something?
You are not missing anything.
You all know its shared ownership. Therefore the mortgage is tiny. However, that doesn't mean I have a decent LTV on my share.0
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