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Shared ownership/equity is a scam.

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  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
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    edited 30 April 2011 at 3:19PM
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    Graham_Devon wrote: »
    I just pulled you up on this on another thread. Howcome you are happy to talk about undervalued housing? Yet say there is no such thing as overvalued housing?

    You've pulled me up on nothing.

    I said there is no such thing as "overpriced" housing. Just as there is no such thing as "underpriced" housing.

    Housing commands the market price. Nothing else.

    A discussion of "value" is a different matter altogether, and brings into account longer term comparisons against historic trends.

    In terms of value, there are numerous ways to look at it.... Some of which suggest housing is currently undervalued by comparison to long term trends, and some of which suggest housing is currently overvalued by comparison to long term trends.
    “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”
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
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    Sorry...

    What is the difference between overvalued and overpriced, when it comes to selling houses, please?

    You are now saying there is overvalued, but NOT overpriced and there is no such thing. I'm struggling to grasp the difference when it comes to people selling houses.

    In terms of what everyone is talking about here, it's property values. Not property asking prices.
  • Orpheo
    Orpheo Posts: 1,058 Forumite
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    HAMISH_MCTAVISH wrote: »
    There is no such thing.

    Prices are set by supply and demand, nothing else.

    By definition, the selling price is the market price, and there is no such thing as "over priced".



    Doesn't exist.

    All wealth in housing is ultimately recycled to younger generations, and always will be unless we abolish death....

    In the above post you manage to state the obvious, state the false and drizzle an unsubstantiated ultimatum out of your kilt. Bravo. I anxiously anticipate your next wee accident.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
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    Graham_Devon wrote: »
    What is the difference between overvalued and overpriced, when it comes to selling houses, please?

    Value is a subjective interpretation.

    Price is what something sells for.
    You are now saying there is overvalued, but NOT overpriced and there is no such thing. I'm struggling to grasp the difference when it comes to people selling houses.

    I'm saying value is a subjective interpretation based on previous historical data, which may or may not be appropriate or relevant to today's market conditions.

    Price is what something sells for, therefore it cannot by definition be underpriced or overpriced.
    it's property values. Not property asking prices.

    It's neither.

    It's achieved prices.
    “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”
  • Orpheo
    Orpheo Posts: 1,058 Forumite
    edited 30 April 2011 at 5:15PM
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    HAMISH_MCTAVISH wrote: »
    Price is what something sells for, therefore it cannot by definition be underpriced or overpriced.

    Only according to you.

    You are confusing value and price.

    Price is also the sum at which something is offered for sale, a starting point between a seller and buyer. I have a £10 note, it's price, to you, is £20. It's value is £10, like it or not. I suspect you may refuse to buy it because it is overpriced. The sum at which something is offered for sale may be considerably higher than the price that the seller eventually accepts, therefore it can be overpriced. This is happening in respect to lots of people's houses.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Orpheo
    Orpheo Posts: 1,058 Forumite
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    And another thing...

    Shared equity/ownership is a scam.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • franklee
    franklee Posts: 3,867 Forumite
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    Orpheo wrote: »
    I have a £10 note, it's price, to you, is £20. It's value is £10, like it or not. I suspect you may refuse to buy it because it is overpriced.
    Not at all, I suspect he'd want to buy but from me not you as I'm selling my tenners for £25 :p
  • thriftychap_2
    thriftychap_2 Posts: 201 Forumite
    edited 30 April 2011 at 10:10PM
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    brit1234 wrote: »
    However both are still scams to get people to over pay for housing. Without them property I am sure would be cheaper.

    This reply is suitable for ORPHEO also.....

    You really DO fail to listen........on my scheme i purchased on the open market and negotiated the price of my property - purchased in 2009 for £109,500 valued this week at £130,000

    OH WHAT A SCAM LOL!!:rotfl:

    Your constant and unfounded ramblings are hilarious to us in the real world....keep them coming.:rotfl::T
    Mortgage overpayment
    01/05/11 - 31/12/2011
    £5000/£7000
    End of 2012 target
    £8400
  • Orpheo
    Orpheo Posts: 1,058 Forumite
    edited 1 May 2011 at 10:15AM
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    thriftychap wrote: »
    This reply is suitable for ORPHEO also.....

    You really DO fail to listen........on my scheme i purchased on the open market and negotiated the price of my property - purchased in 2009 for £109,500 valued this week at £130,000

    OH WHAT A SCAM LOL!!:rotfl:

    Your constant and unfounded ramblings are hilarious to us in the real world....keep them coming.:rotfl::T

    Valued? By whom? An EA?

    Ah... You mean priced, not valued.

    Assuming the EA is correct (foolish, I know), you should sell. Big falls coming.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
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    Orpheo wrote: »
    Valued? By whom? An EA?

    Ah... You mean priced, not valued.

    Assuming the EA is correct (foolish, I know), you should sell. Big falls coming.
    Can you please look into your crystal ball and tell us how much a property valued at £130,000 will fall down to? You have said "big" falls coming but I'd just like to know how do you define a "big" fall?
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
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