CML: Age of FTB

IveSeenTheLight

Graham_Devon wrote: »

What did you do that for?

The higher the price you pay, the better, according to your good self.

Maybe I'm confused, and maybe you meant the higher the price others pay, the better?

Graham, where have I said, "the higher the price you pay, the better"?
You don't half get things grossly wrong, especially when quoting someone.
In fact, please quote me (by a link) when you claim I've said something.
We've had this conversation before where you couldn't back up your claims.
Stop generalising and try to get things right.

I have given examples where to upsize you can benefit from HPI that you may not have the opportunity to without HPI.

I would stand by that once you secure a property, you would not want prices to lower, indeed I've even said I'm happy with inflation linked HPI

Of course when your buying, you want to secure for the best price you can, even moreso when you are buying as an investment.
I also realise the seller has the right to not accept any offers.

I've said for a long time, you need to do your market research and at the moment the market tends to indicate it's a buyers market.

Graham_Devon

IveSeenTheLight wrote: »

Graham, where have I said, "the higher the price you pay, the better"?

When you argue deposit requirements and lower LTV mortgages are locking people out, which is a result of lower prices / the economy.

IveSeenTheLight

Graham_Devon wrote: »

When you argue deposit requirements and lower LTV mortgages are locking people out, which is a result of lower prices / the economy.

Quote me.
Where have I said "the higher the price you pay, the better"?

Certainnly the facts show that more people had the opportunity to become home owners when LTV requirements were higher.

I have shown that a change in the LTV requirements does more than lowering the actual prices.

I don't see where this relates to "the higher the price you pay, the better"

geneer

nollag2006 wrote: »

Why?

Your rants rarely do.

and you are?

geneer

IveSeenTheLight wrote: »

Purely anecdotal I know, but I offered 12.5% below the valuation on a property and it was turned down.

Maybe geneer meant "some are still 20% overvalued" instead of "still some 20% overvalued"

It would be interesting to see the links to the economists currently citing that house prices are 20% over valued ( I presume these are averages we are talking about )

According to this link at the end of 2010; some predictions were


Most seem pretty accurate, none say -20%

Even HPC only have cited one negative price prediction for 2011, with the same analyst predicting recovery in 2012 and continual rises after that

I believe geneer meant "average" house prices were overvalued.

That this does not mean all properties of all types in all locations is of such jaw dropping obviousness, you would wonder why it would be neccesary to labour the point.

IveSeenTheLight

geneer wrote: »

I believe geneer meant "average" house prices were overvalued.

That this does not mean all properties of all types in all locations is of such jaw dropping obviousness, you would wonder why it would be neccesary to labour the point.

I thought your position was that averages were meaningless

geneer

IveSeenTheLight wrote: »

I thought your position was that averages were meaningless

My position is that averages are averages.
My position is that it is important to put these in some kind context, and look at whats happening in terms particular markets and sales volumes.

Which naturally is why I wonder why on earth you felt the need need to advise, in tedious fashion, how averages work.

Jimmy_31

IveSeenTheLight wrote: »

A fine example of the youth of today who can show that it is still possible to afford property if you set your mind and goals towards it.

You are example to your peers and to some elders in here

Yeah i dunno what all these hard working SINGLE people are going on about when they say they cant afford a house or to rent.

Jack_Johnson_the_acorn

Jimmy_31 wrote: »

Yeah i dunno what all these hard working SINGLE people are going on about when they say they cant afford a house or to rent.

Single people need to be on a decent income, a 1 bed place is actually quite affordable IMO

ukcarper

IveSeenTheLight wrote: »

Purely anecdotal I know, but I offered 12.5% below the valuation on a property and it was turned down.

Maybe geneer meant "some are still 20% overvalued" instead of "still some 20% overvalued"

It would be interesting to see the links to the economists currently citing that house prices are 20% over valued ( I presume these are averages we are talking about )

According to this link at the end of 2010; some predictions were


Most seem pretty accurate, none say -20%

Even HPC only have cited one negative price prediction for 2011, with the same analyst predicting recovery in 2012 and continual rises after that

Geneer made a remark about historical norms for house prices. I asked how much he thought they were over valued compared to historical norms. He replied 20% which I thought was about right, I’m not sure what that has to do with how much people think they will fall.