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Debate House Prices
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At last! Thank you Tories
Comments
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shortchanged wrote: »Of course, fair point.
The thing is though there is a hugely prolonged period of negative equity made even worse in a falling market, unless that is they have made substantial overpayments over the years which is unlikely by many because they would have been financially stretched in the first place to take out one of these mortgages.
Absolutley, and I suppose on the other hand had prices risen as they had been then people would have seen their 'excess borrowing part' wiped out as the house prices caught up with their 'total mortgage borrowing' making their home worth at least or possibly more than their mortgage possibly and I imagine that the was the hope for many?
It was a gamble and the ultimate test is long term as to whether they get to that break even point before anything happens to make it un-affordable for them especially given the current employment market?Dont wait for your boat to come in 'Swim out and meet the bloody thing'
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Well, really, I must congratulate the Tories on this move.
From a personal point of view, a 2 year spell of collapsed property prices would suit me down to the ground ..... but, for the kids renting, this is great news - and, I have to let them have their moment in history, I've made my wealth - I, and all who post here, should applaud this and wish them all the very best.
It can only help those who are trapped into renting and buying a rich landlords property for them - for those who chose to rent (when they could buy) I have zero tolerance for ... they have no concept of market conditions and have been left behind.
Here Here.
Im predicting more price falls in my area now that all the other FTBs will be chasing a shiney new house:).0 -
Plans to allow first-time buyers of new homes to borrow up to 95% of the value, with the government underwriting part of the risk, are to be unveiled.
http://www.bbc.co.uk/news/uk-politics-15810966
Plus for those of you in a council house - your buy or right discount is likely to be DOUBLED!
I can only see uproar from people in 'not new' FTB target residences, surely those houses will come under price pressure and of course the new properties will be in negative equity as soon the keys are handed over (and that is ignoring the the fact that new property is overpriced anyway). Unlucky Cameron you nearly got it right, your builder mates will be celebrating though:beer: 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I can only see uproar from people in 'not new' FTB target residences, surely those houses will come under price pressure and of course the new properties will be in negative equity as soon the keys are handed over (and that is ignoring the the fact that new property is overpriced anyway). Unlucky Cameron you nearly got it right, your builder mates will be celebrating though:beer:
I wonder what the prices on site will be like.
Im predicting crap ones:)0 -
A 5% deposit is absolutely fine.
It was the 120% Mortgages which have resulted in misery.
Let's get the kids out of home and into their own places, it cannot be good living at home in your 20's with Mummy and Daddy pottering about.
Even worse for those in their 30's of course, as that is desperate, really desperate.
Here here.0 -
I wonder what the prices on site will be like.
Im predicting crap ones:)
Should be good for you Jimmy, plenty of work if not good pay.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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Plans to allow first-time buyers of new homes to borrow up to 95% of the value, with the government underwriting part of the risk, are to be unveiled.
http://www.bbc.co.uk/news/uk-politics-15810966
Plus for those of you in a council house - your buy or right discount is likely to be DOUBLED!
great
however a lower deposit means higher repayments. In todays job market with todays wages, this wont have the impact many will hope for. it will very much depend on the area you live and what the wage to house price ratio is. 0
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