Land Registry -0.3% MoM, -2.6% YoY

DervProf

doire wrote: »

Karma for the way you speak about renters?

Could be.

Maybe when he goes back to his flooded home, he'll find it uninhabitable, and have to rent a place for a while.

ukcarper

neverdespairgirl wrote: »

I feel exactly the same way as Brit. I do have a mortgage.

Would you still feel the same if you had a 90% mortgage and property fell 30%.

joguest

ukcarper wrote: »

Would you still feel the same if you had a 90% mortgage and property fell 30%.

Mortgaged homeowners that bought before the crash are much more able to withstand a decrease in equity thanks to base rate slashing. Not only only are the monthly repayments lower (allowing them to use the monthly windfall to pay down debt), but the monthly capital repayments have approximately doubled (assuming they took out a tracka). I don't understand the need to feel sorry for them, especially given that they made a choice to buy a house at that price. It's those that sensibly decided not to buy and wait until prices corrected that are in need of symathy, given that the BoE and government have thrown everything at propping up the scam.

ukcarper

joguest wrote: »

Mortgaged homeowners that bought before the crash are much more able to withstand a decrease in equity thanks to base rate slashing. Not only only are the monthly repayments lower (allowing them to use the monthly windfall to pay down debt), but the monthly capital repayments have approximately doubled (assuming they took out a tracka). I don't understand the need to feel sorry for them, especially given that they made a choice to buy a house at that price. It's those that sensibly decided not to buy and wait until prices corrected that are in need of symathy, given that the BoE and government have thrown everything at propping up the scam.

I would imagine very view are on low rate trackers I don’t particularly feel sorry for them. Most people buy a house to live in when they need it and I think the best solution would be if prices stagnate falling in real terms. My question was directed at neverdespairgirl and Brit and I’m pretty sure they would not be happy to go into negative. Also as has been pointed out interest rates were not lower primarily to keep housing prices high.

RenovationMan

neverdespairgirl wrote: »

I feel exactly the same way as Brit. I do have a mortgage.

We feel this way too. All we want is to get out what we have put into the property, i.e. the amount we have spent on it when I bought it and the amount spent doing it up.

I'm sure that a lot of people, especially those with kids, feel this way. Rampant HPI has beggard more people than it has enriched.

ukcarper

RenovationMan wrote: »

We feel this way too. All we want is to get out what we have put into the property, i.e. the amount we have spent on it when I bought it and the amount spent doing it up.

I'm sure that a lot of people, especially those with kids, feel this way. Rampant HPI has beggard more people than it has enriched.

I would agree that it would have been better if house prices had increased in line with wages but they didn’t. How much above that they increased is open to debate but I would about 20% and I believe it would be better if they got there again by stagnation.

RenovationMan

ukcarper wrote: »

I would agree that it would have been better if house prices had increased in line with wages but they didn’t. How much above that they increased is open to debate but I would about 20% and I believe it would be better if they got there again by stagnation.

Yep, and I think that's what we will see. The soft-landing seems to be well on track.

geneer

RenovationMan wrote: »

Yep, and I think that's what we will see. The soft-landing seems to be well on track.

Soft landings don't occur after a crash.
Its highly dubious to claim otherwise.

geneer

DervProf wrote: »

Could be.

Maybe when he goes back to his flooded home, he'll find it uninhabitable, and have to rent a place for a while.

He should check out this one.
https://forums.moneysavingexpert.com/discussion/3579169

Horizon81

I always thought Jo Guest was a 90's page 3 girl...

Anyway, it's -0.5% MoM and -9.4% YoY in my county. Average house price is £86,000, which is still double what it was compared to the 1990's up to 2001 ish for my area. Getting more and more affordable for FTBs. Most sellers still asking silly money though, which is their prerogative of course, but I do wonder what planet most estate agents are on.