First time buyers priced out...

HAMISH_MCTAVISH

Jimmy_31 wrote: »

I work very hard for my wages and cant bear for a vast part of it to end up as a bankers bonus, .

Could you explain what percentage of the interest component of a mortgage ends up as a bankers bonus?

You claim it would be a "vast part" of your wages ending up as a bankers bonus.

I'm sure we'd be delight to see your methodology for calculating that.

Graham_Devon

Jimmy_31 wrote: »

Im a FTB and due to me saving a large deposit i am not priced out, i can quite easily buy a starter home in the area that i was born and raised but i am still not willing to pay sellers prices, this isnt me thinking i should be getting a massive home in a perfect area for peanuts its just me not willing to pay the price that the banks and boom buyers have set.

I work very hard for my wages and cant bear for a vast part of it to end up as a bankers bonus, maybe im just too old fashioned by being careful with my money.

Welcome.

They aint gonna like you round here.

chucky

Jimmy_31 wrote: »

Im a FTB and due to me saving a large deposit i am not priced out, i can quite easily buy a starter home in the area that i was born and raised but i am still not willing to pay sellers prices, this isnt me thinking i should be getting a massive home in a perfect area for peanuts its just me not willing to pay the price that the banks and boom buyers have set.

good man, i like you i also like your honesty :T

you're not priced out.

Jimmy_31 wrote: »

I work very hard for my wages and cant bear for a vast part of it to end up as a bankers bonus, maybe im just too old fashioned by being careful with my money.

absolutely your choice, i'm the same.

i won't buy the Sony camcorder that i really like until it drops to the price i want to pay for it. i don't want to be the reasons retailers make large profits from the margins on their products.

geneer

julieq wrote: »

Once again, you don't need first time buyers to sustain the housing market because the market is sustained by rental yields based on overall demand for housing, which is high by international standards. At some point this realisation is going to dawn on people: the high rate of owner occupation since the 1980s is an anomaly not a norm, and in order for it to revert back to trend people will be necessarily excluded from the market while the relative proportions shift.

The tragic part of this is that despite what the bears say, affordability for a couple is good in most parts of the country and the only thing pricing them out is mortgage rationing. It must be extremely frustrating for prospective first time buyers, seeing low rates and fairly stable pricing and not being able to get anywhere near deposit requirements.

Fantastic. Jules astonishing falling demand = increased house prices scenario raises its head again.
Once again still confusing desire with ability.


I'm sure it is for prospective first time buyers with no deposit.
They will just have to save up their pennies like the first time buyers who have a deposit.

Graham_Devon

geneer wrote: »

Fantastic. Jules astonishing falling demand = increased house prices scenario raises its head again.
Once again still confising desire with ability.


I'm sure it is for prospective first time buyers with no deposit.
They will just have to save up their pennies like the first time buyers who have a deposit.

You are never gonna change her mind.

I mean, look at this for a messed up sentence...

affordability for a couple is good in most parts of the country and the only thing pricing them out is mortgage rationing.

Affordability is good.....but they can't get enough debt...therefore they can't afford it....but erm, affordability isn't the issue?

So they can't afford it then? Affordability isn't good. What she's actually saying is credit isn't great right now compared to the hand outs people got leading up to the crash.

I like my ferrari's. Affordabilty is good for me. But the damn banks won't give me a 30 year loan secured on the car. I could afford the repayments, but for some reason, the lending is rationed. It's the banks fault I can't have the ferrari.

I can afford it though. Just, well, not without the banks giving me the money. Does that make sense? I know it doesnt...but go along with it. It makes me feel better, as deep down, I KNOW I can afford a ferrari.

Jimmy_31

HAMISH_MCTAVISH wrote: »

Could you explain what percentage of the interest component of a mortgage ends up as a bankers bonus?

You claim it would be a "vast part" of your wages ending up as a bankers bonus.

I'm sure we'd be delight to see your methodology for calculating that.

Right here comes the methodology the way it works in my mind, i dont really need to bother with percentages because my methodology is well thought out, if i buy a house that has nearly quadrupled in price since the boom kicked off then the bank will get a s*%tload more of my money.

chucky

Graham_Devon wrote: »

You are never gonna change her mind.

I mean, look at this for a messed up sentence..

that's quality, you haven't understood what she's saying at all.

affordability for a couple is good in most parts of the country and the only thing pricing them out is mortgage rationing.

how about proving that it isn't the case or is it the case that you can't?

Graham_Devon

chucky wrote: »

that's quality, you haven't understood what she's saying at all.

how about proving that it isn't the case or is it the case that you can't?

If I didn't understand what shes saying....care to enlighten me?

I won't hold my breath.

chucky

Graham_Devon wrote: »

If I didn't understand what shes saying....care to enlighten me?

I won't hold my breath.

that would be wasted on you. you're the one that tried to all her on it with nothing to back yourself up except a sound bite.

we still haven't seen you prove that affordability isn't the real issue but the actual mortgage rationing is the problem for FTBs. but that's what's expected of someone of limited intelligence...

Graham_Devon

chucky wrote: »

that would be wasted on you.

As expected. No answer. Just trying to be an internet warrior at every turn.