How long can FTB-s afford to wait?

HAMISH_MCTAVISH

mcc100 wrote: »

I am still predicting that figure.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Oh dear..... Comedy Gold.

mcc100 wrote: »

I'll kick off the thread with my prediction of £98700

You are going to be one VERY disappointed bear.

mcc100

julieq wrote: »

Nice one mcc, but in that case you're saying nothing at all. As your record on predictions is lamentable I still trust my judgement more. Sorry.

Thanks julieq ....... as I have only ever made one prediction (which I still stand by), I'm not sure why you are calling my predictions lamentable .....

julieq

It's great to go back to Jan 2009 and having a look at what people were saying. There are some some surprises though - Graham explaining there's nothing wrong with 100% mortgages is one I was taken aback by (but he's quite right obviously). But at a period where things looked like freefall, the bears thought they were being proved right and some of the assertions are breathtakingly wrong.

HAMISH_MCTAVISH

chucky wrote: »

Page 6 is when the Devon bloke gets found out and tries to obfusciate his way out of taking his foot out of his mouth.

Priceless.

And he's still repeating the same discredited drivel today.

mcc100

HAMISH_MCTAVISH wrote: »

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Oh dear..... Comedy Gold.



You are going to be one VERY disappointed bear.

mcc100 wrote: »

Exactly.

I would be classed as a bear because in my opinion house prices have a long way to fall.

However this opinion is not influenced by what I would like to happen with house prices as I don't give a t*** whether they rise or fall.

Whatever you say Hamish ......

julieq

mcc100 wrote: »

Thanks julieq ....... as I have only ever made one prediction (which I still stand by), I'm not sure why you are calling my predictions lamentable .....

Well one prediction made multiple times then. Comes to the same thing ultimately. And you're right, a prediction without a timescale isn't even a prediction.

Actually since you're splitting hairs I think there is another prediction, I'll need to reset the search to do it, but it was about nominal prices not being back to current levels in 2015 or something like that, this being from 2009 I think.

mcc100

julieq wrote: »

Well one prediction made multiple times then. Comes to the same thing ultimately. And you're right, a prediction without a timescale isn't even a prediction.

Actually since you're splitting hairs I think there is another prediction, I'll need to reset the search to do it, but it was about nominal prices not being back to current levels in 2015 or something like that, this being from 2009 I think.

Fair comment ... but we will not know whether my prediction is lamentable until 2015

asc99c

Things were never even that close to freefall surely?? I moved to a new house in 2007, and took out a 90% mortgage. I've not been in negative equity yet, just making standard repayments on a 25 year mortgage. From that point of view, even 2007 was barely a 'bad' time to buy. By my calculations, if I'd held off buying until now, I'd potentially have £12,000 less on my mortgage, but I wouldn't be able to get anywhere near my 2.5% rate. An extra 2% on the mortgage rate would eat through the whole difference in under three years.

mcc100

asc99c wrote: »

Things were never even that close to freefall surely?? I moved to a new house in 2007, and took out a 90% mortgage. I've not been in negative equity yet, just making standard repayments on a 25 year mortgage. From that point of view, even 2007 was barely a 'bad' time to buy. By my calculations, if I'd held off buying until now, I'd potentially have £12,000 less on my mortgage, but I wouldn't be able to get anywhere near my 2.5% rate. An extra 2% on the mortgage rate would eat through the whole difference in under three years.

You would only know whether or not you are in negative equity if you've had a valuation ...... see a previous post of mine

mcc100 wrote: »

A couple I know in there twenties have recently split up.

They bought their 2 bedroom terraced house for £91k 3 years ago with a 100% mortgage. Their estate agent has valued it at £78k seemingly overlooking the fact that another identical terrace in the same block has just been sold as a forced sale for 55k.

My point ..... advertised house prices are a figment of the estate agent's and sellers imagination. It is only when properties are sold through forced sales that the true value becomes clear.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Priceless.

And he's still repeating the same discredited drivel today.

How is it discredited? It's simply your viewpoint does not agree. That's not discrediting something. Thats disagreement. I realise you get totally confused by all this.

You are still repeating the same nonsense which only includes people who can afford houses, to prove affordability.

Again, people who can afford ferraris, can afford ferraris. Shocker.

Were no further forward.