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Debate House Prices
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Number of first-time buyers plummets to lowest on record
Comments
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Rochdale_Pioneers wrote: »Your comment about lending being at traditional levels flies in the face of the stack of fact based evidence that mortgage lending is on its knees throttled to almost nothing by the banks. If it was "traditional" it wouldn't be newsworthy or of concern to the government.
There's no rationing of mortgage funds, no waiting time to obtain a mortgage. So unsure why you believe mortgage lending to be on its knees. The Government is quite rightly concerned about business lending. A totally different issue.0 -
worldtraveller wrote: »The number of first-time buyers has fallen to its lowest since records began in 1974.
Around 187,000 people became first-time buyers in 2011, which was 7pc fewer than the preceding year and less than half the recent peak of 402,800 seen in 2006.
The figure from Halifax, the lowest recorded since it started tracking the data for the UK, will stoke concerns that a generation of Britons is locked out of the property market.
Telegraph
I don't know what the fuss is about, I have it on good authority that all the FTBers need to do is knuckle down and save a bigger deposit and get a repayment mortgage. Simples: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 !
Still, as I pointed out, it's easy for someone who bought his house in 1995 and sit on HPI gain that trebled the value of his house, to look down on the 'little people'. Shame on you DervProf. Shame on you.
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RenovationMan wrote: »I don't know what the fuss is about, I have it on good authority that all the FTBers need to do is knuckle down and save a bigger deposit and get a repayment mortgage. Simples:
The advice I gave is quite correct. It may not be easy to achieve at the moment (I never said it would be), but it is correct.
As you tried to prove in the other thread, HPI is "free money" (which is quite debatable), but it certainly doesn't make prospective FTB's lives any easier.
I'm glad you've grown a pair at last, and are at least having a go back, rather than claiming you are being "stalked", or that I am geneer. All you need to do now is start posting some responses that make sense.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Thrugelmir wrote: »There's no rationing of mortgage funds.
:rotfl::rotfl::rotfl::rotfl::rotfl:
Priceless.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Rochdale_Pioneers wrote: »Your comment about lending being at traditional levels flies in the face of the stack of fact based evidence that mortgage lending is on its knees throttled to almost nothing by the banks. If it was "traditional" it wouldn't be newsworthy or of concern to the government.
You refer to a decade of fraud and low interest rates. When was this? Interest rates were 4-6% through the noughties - low enough to generate the mass fraud you speak of? Perhaps not.
As for supply and demand, you're mistaking the non-actions of a throttled market with genuine figures. Compare and contrast the almost complete absence of house building at the moment with the increasing population and record numbers of households. Then look at the levels of demand before the crash and ask does more people needing a home and less homes in supply mean a long term glut of supply or a long term push of demand?
Absolutely spot on....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
The advice I gave is quite correct. It may not be easy to achieve at the moment (I never said it would be), but it is correct.
There we have it then. To all those struggling to buy a house, just listen to the sage advice to someone who bought in his first and last house 1995 and saw it triple in value since. "HPI isn't free Money "(I assume DervProf feels that he worked for it) and "Just save up and get a repayment mortgage, you laggards!"
I wonder if you would be so happy to buy that house today, Dervprof, at triple the price you paid for it? Is it really that easy?0 -
RenovationMan wrote: »I wonder if you would be so happy to buy that house today, Dervprof, at triple the price you paid for it? Is it really that easy?
No, I wouldn't be so happy, that's why I don't like (excessive) HPI. Unlike some, I'm not so self centered and short sighted that all I want is the value of my house increase. I'd like others to have the opportunity that I, and many of my friends had. HPI is bad for prospective FTBs, and I'm making the point that it isn't such a great thing for existing owners, as long as they haven't taken on too high an LTV mortgage in times where HPI is very low or negative.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
No, I wouldn't be so happy, that's why I don't like (excessive) HPI. Unlike some, I'm not so self centered and short sighted that all I want is the value of my house increase. I'd like others to have the opportunity that I, and many of my friends had. HPI is bad for prospective FTBs, and I'm making the point that it isn't such a great thing for existing owners, as long as they haven't taken on too high an LTV mortgage in times where HPI is very low or negative.
Oh dear. Backtracking now. :rotfl::rotfl:0 -
RenovationMan wrote: »There we have it then. To all those struggling to buy a house, just listen to the sage advice to someone who bought in his first and last house 1995 and saw it triple in value since. "HPI isn't free Money "(I assume DervProf feels that he worked for it) and "Just save up and get a repayment mortgage, you laggards!"
DervProf doesn't feel that HPI is free money. It is simply free equity that I, and many others, can't spend.
You keep mentioning that I bought my first house in 1995 (which isn't true, BTW). I bought my house when I'd saved enough of a deposit, and I bought a place that was within my means. If I couldn't have done that, I wouldn't have bought. It wasn't easy to save the money, and it may have been that I could have been "priced out" forever. Luckily, I didn't give up saving, and the opportunity did arise to buy a house. My advice is to save a deposit, as it happens. I take it that your advice would be different, as you seem to disagree with me on this principle ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
RenovationMan wrote: »Oh dear. Backtracking now. :rotfl::rotfl:
Eh ?
Please explain the "backtracking". This reminds me of chucky, a year or two ago. Backtracking this, backtracking that. :eek:30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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