May Nationwide MoM +0.3% YoY -1.2%

shortchanged_2

chucky wrote: »

well actually blacklight is right.

only an idiot would think that a house price would be lower than the initial mortgage amount 25 years later on an I/O mortgage.

you obviously think it won't. good luck with that thinking.

Fair play chucky you're quick enough to jump on grahams comments........but.......what the hell are you going on about???

My comment was regarding that orpheo used in his example that he was maxed out on his IO mortgage, therefore one assumes he would not have any money left to overpay his mortgage thus reduce the capital debt.

Backdoor was talking about overpaying the mortgage. Well how the hell can he do that if he's already maxed out at ultra low interest rates???

ukcarper

shortchanged wrote: »

Fair play chucky you're quick enough to jump on grahams comments........but.......what the hell are you going on about???

My comment was regarding that orpheo used in his example that he was maxed out on his IO mortgage, therefore one assumes he would not have any money left to overpay his mortgage thus reduce the capital debt.

Backdoor was talking about overpaying the mortgage. Well how the hell can he do that if he's already maxed out at ultra low interest rates???

Does it follow that because you are maxed out (I take that to mean you have borrowed as much as bank will lend you) that you have no money left to pay off capital.

shortchanged_2

ukcarper wrote: »

Does it follow that because you are maxed out (I take that to mean you have borrowed as much as bank will lend you) that you have no money left to pay off capital.

I assumed he was referring to being at the limit of his finances.

debtistheft

shortchanged wrote: »

I assumed he was referring to being at the limit of his finances.

As most of these over-mortgaged debt junkies are.

ukcarper

shortchanged wrote: »

I assumed he was referring to being at the limit of his finances.

That's not what he said though is it.

"No, but I did max out my borrowing on an IO mortgage. Can't go wrong, bricks 'n' mortar 'n' all that..."

ukcarper

debtistheft wrote: »

As most of these over-mortgaged debt junkies are.

If it makes you happy you can believe that if you want.

Jimmy_31

HAMISH_MCTAVISH wrote: »

:rotfl:

Or as Brit would put it....

"Prices are falling and will continue to fall".:rotfl::rotfl::rotfl:

They seem to have fallen about £6000 the wrong way so far this year.:beer:

Nah they have fallen way more than 6k round my way:)

geneer

http://www.guardian.co.uk/money/2011/may/27/house-prices-up-may

And an objective analysis:-

Howard Archer from IHS Global Insight said: "Despite the recent slightly firmer tone in house prices reported by the Nationwide, we believe that modest overall falls in house prices are more likely than not over the rest of 2011 and the first half of 2012.
"In fact, it needs to be borne in mind that house price indices are currently giving somewhat conflicting signals with latest data from the Halifax much weaker than the Nationwide, and showing prices falling by 1.4% month-on-month in April and down by 1.2% on a three-month-on-three-month basis.
"We suspect house prices will soften modestly overall through the rest of 2011 and the first half of 2012 as squeezed purchasing power, tightening fiscal policy and the prospect of gradually rising interest rates before the end of 2011 weigh down on potential buyers.
"On balance, we believe that house prices are likely to fall by around 8% overall from current levels on the Nationwide measure by mid-2012 and end up declining by some 10% overall from their peak levels in 2010."

Loopgames

ILW wrote: »

Whty would anybody buy a house in the spring when they cost more?

Yet they do....because if they didn't they wouldn't cost more.

It's weird it's like people have a memory that lasts less than 12 months!

Generali wrote: »

Because nobody is dumb enough to sell one in the winter when they cost less!

My parents bought in the winter twice...the first time they did this they had nothing to sell (they kept their flat) ...but the second time they bought they were moving to a bigger house so it's cheaper if you're going up the ladder as your home (that you're selling) hasn't gone done in absolute terms as one that's more expensive over the course of the seasons.

Depends which direction on the ladder you're moving...upscaling or downscaling.

The third time they sold in the spring and they were downscaling so bought something small outright with no mortgage. I wish I could say they made their decisions with calculated precision...but it was just pot luck that they bought and sold on the right side of the equation.

Now houses are stagnant and no change has happened since 2008 when they bought.

I just spotted a house on their road for sale today - new on the market...going to have a goosy gander on rightmove.....excuse me..

System

debtistheft wrote: »

As most of these over-mortgaged debt junkies are.

Ahh, naerlynew again. Makes sense now.

Surprised it didn't click sooner.