What happens to property bears when they buy?

RenovationMan

DervProf wrote: »

I don't understand the question.

If you meant "So you must feel that you earned this HPI....", then no, I don't think I had to work for it. I suppose that means that the HPI was "free", but if I'm supposed to be excited about that (as some folk on this forum appear to be), then I can't say that I am. I would be quite happy if someone just gifted me a few £k though. I would certainly benefit from that.

Goodness me, that was a lengthy way to admit that HPI was free money!

Anyway, this takes us full circle back to your original premis:

"I see no free money, but maybe I'm looking in the wrong place. "

I'm glad that I have now opened your eyes and directed them to the right place.

DervProf

RenovationMan wrote: »

I'm glad that I have now opened your eyes and directed them to the right place.

Thanks.

With all this "free money", I think I'll go and buy myself a new car, and maybe book a couple of exotic holidays for the summer. :j

RenovationMan

DervProf wrote: »

Thanks.

With all this "free money", I think I'll go and buy myself a new car, and maybe book a couple of exotic holidays for the summer. :j

Dear me DervProf, is your grasp of mathematics so tenuous that you cannot see how having a reasonable LTV on a house (provided by free HPI) allows people to arrange a much better mortgage rate than those who have had to rely on savings alone (and indeed those who are now in negative equity).

The savings made on the advantageous mortgage deals mean that you could indeed put the cash you are saving on your mortgage (compared with someone on say a 90% LTV) towards a new car and/or exotic holiday. However I would suggest anyone with a surfeit of cash should overpay their mortgage and further improve their LTV rate.

Anyway, I'm glad you now agree with my proposition that we only find property bears who have had increased their LTV via free HPI extolling the virtues of a housing crash. It took us a while, but you finally got there DervProf. Phew. :cool:

Cleaver

Generali wrote: »

Just to make the point, pretty much 100% of homes are owned.

That's seasonally adjusted though. You'll find that in winter it's much closer to 90%, but they do a special thingymabob to compare it with summer.

Generali

Cleaver wrote: »

That's seasonally adjusted though. You'll find that in winter it's much closer to 90%, but they do a special thingymabob to compare it with summer.

Presumably, houses are 110% owned in June so seasonally adjusted it's 100% across the year.

Cleaver

Generali wrote: »

Presumably, houses are 110% owned in June so seasonally adjusted it's 100% across the year.

My home ownership level actually hit 113% in July this year. I kept my lawnmower in the additional 13%.

DervProf

RenovationMan wrote: »

Dear me DervProf, is your grasp of mathematics so tenuous that you cannot see how having a reasonable LTV on a house (provided by free HPI) allows people to arrange a much better mortgage rate than those who have had to rely on savings alone (and indeed those who are now in negative equity).

The savings made on the advantageous mortgage deals mean that you could indeed put the cash you are saving on your mortgage (compared with someone on say a 90% LTV) towards a new car and/or exotic holiday. However I would suggest anyone with a surfeit of cash should overpay their mortgage and further improve their LTV rate.

Anyway, I'm glad you now agree with my proposition that we only find property bears who have had increased their LTV via free HPI extolling the virtues of a housing crash. It took us a while, but you finally got there DervProf. Phew. :cool:

Goodness me, that was a lengthy way to show that you haven't got a clue.

HPI = free money because you can borrow at lower rates ? :rotfl:

As my mortgage is as good as paid off, and I am offsetting what little is left to pay, I still fail to see this "free money".

And you don't need much, if any HPI to get a good mortgage deal. I suggest putting down a decent deposit in the first place, then choosing a repayment mortgage to increase your LTV. Next time you remortgage, bingo !

RenovationMan

DervProf wrote: »

Goodness me, that was a lengthy way to show that you haven't got a clue.

HPI = free money because you can borrow at lower rates ? :rotfl:

As my mortgage is as good as paid off, and I am offsetting what little is left to pay, I still fail to see this "free money".

And you don't need much, if any HPI to get a good mortgage deal. I suggest putting down a decent deposit in the first place, then choosing a repayment mortgage to increase your LTV. Next time you remortgage, bingo !

Do you really believe that, in this day and age, you don't need to put down much of a deposit in order to get a decent LTV? Gracious, you're a long way from 1995, Toto!

P.S. Incidently, congrats on getting in the brag that you're 'practically' mortgage free. I'm sure those First Time Buyers you seem so dismissive of ('I suggest putting down a decent deposit') are basking in your magnificence. :rotfl:

DervProf

RenovationMan wrote: »

Do you really believe that, in this day and age, you don't need to put down much of a deposit in order to get a decent LTV? Gracious, you're a long way from 1995, Toto!

P.S. Incidently, congrats on getting in the brag that you're 'practically' mortgage free. I'm sure those First Time Buyers you seem so dismissive of ('I suggest putting down a decent deposit') are basking in your magnificence. :rotfl:

No, I never said that you don't need to put down much of a deposit. If you'd like to show me where I said or implied that, then I'll admit I got it wrong.

On the "brag" issue. Exactly as I expected, you pounced on it. The statement I made was in context with the discussion/argument we are having. It is not something that I repeatedly publish on this forum, and it is certainly not something that is something to boast about. I very rarely mention it, as is plain for all to see.

RenovationMan

DervProf wrote: »

No, I never said that you don't need to put down much of a deposit. If you'd like to show me where I said or implied that, then I'll admit I got it wrong.

On the "brag" issue. Exactly as I expected, you pounced on it. The statement I made was in context with the discussion/argument we are having. It is not something that I repeatedly publish on this forum, and it is certainly not something that is something to boast about. I very rarely mention it, as is plain for all to see.

Oh! I 'fell' into your trap of you bragging once again that you are mortgage free. I fairly wrestled that admission from you didn't I? :rotfl: