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Rise in first-time buyers predicted

245

Comments

  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Graham_Devon wrote: »
    Two, sorry, three words.

    Highly doubt it.

    So you believe that people who have a drive to be property owners will not have saved anything since last year.

    I'm sure there are loads of people even in these forums that expand how much they have been able to save.

    How do you propose the FTBers are able to buy? Do you think they are all BOMAD? some people have the desire and dedication to get what they want in life.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Rinoa wrote: »
    Lenders have been gradually reducing deposit requirements.

    Nationwide are currently running a tv campaign specifically advertising their low deposit mortgages.


    But, but, but........
    In terms of FTBers having the required deposits
    Graham_Devon wrote: »
    Two, sorry, three words.

    Highly doubt it.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • pop_gun
    pop_gun Posts: 372 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Maybe these FTB will soon join the expected rise in repossessions for 2012.

    http://www.bbc.co.uk/news/business-16197258
  • MrRee_2
    MrRee_2 Posts: 2,389 Forumite
    The peak was 2007, the crash 2008 - that means that FTB's have had 4 years to save a deposit.

    Let's assume a young couple on average wages can save £2,000 a month - that's a deposit sitting in an account of around £96,000 ........ when the Mortgages start flowing, which they will in 2012, we shall see plenty of sales.

    In fact, in the South, that has happened already ...... everything under £250,000 sells within hours.
    Bringing Happiness where there is Gloom!
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    Graham_Devon wrote: »
    Two, sorry, three words.

    Highly doubt it.

    Why? You doubt that people are saving or you doubt that they've saved enough to buy yet?

    Surely in the same way that there are loads of people who will be shocked and stunned when rates rise because they simply can't remember when rates were higher there will be potential house purchasers who now think saving a deposit is completely normal and will be getting on with it.
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    pop_gun wrote: »
    Maybe these FTB will soon join the expected rise in repossessions for 2012.

    http://www.bbc.co.uk/news/business-16197258

    Ouch! A 20% rise in repossessions sounds a lot until you see the numbers involved. 20% of not a lot isn't much at all.

    CML tend not to be very good at predicting repossessions - they always over-estimate and have to revise down later.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »
    So you believe that people who have a drive to be property owners will not have saved anything since last year.

    Did I say that? Did I even hint at that? No. I didn't. Once again, you strip all context and try and imply I stated something and that you are somewhat shocked by what you have just made up.
    I'm sure there are loads of people even in these forums that expand how much they have been able to save.

    How do you propose the FTBers are able to buy? Do you think they are all BOMAD? some people have the desire and dedication to get what they want in life.
    House prices have come down. Especially in the North. It would be no surprise to correlate the decline of house prices with FTB's able to now afford property.

    Doesn't take a degree to work it out.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    wotsthat wrote: »
    Ouch! A 20% rise in repossessions sounds a lot until you see the numbers involved. 20% of not a lot isn't much at all.

    CML tend not to be very good at predicting repossessions - they always over-estimate and have to revise down later.

    1.4% of not much isn't much either. But don't see you taking issue there!? ;)
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I thought London was way beyond the means of first time buyers especially after the City hit the skids, so where do the healthy number of FT buyers come from?
    '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 Thatcher
  • LydiaJ
    LydiaJ Posts: 8,083 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    IveSeenTheLight wrote: »
    So you believe that people who have a drive to be property owners will not have saved anything since last year.

    I'm sure there are loads of people even in these forums that expand how much they have been able to save.

    How do you propose the FTBers are able to buy? Do you think they are all BOMAD? some people have the desire and dedication to get what they want in life.

    Indeed there are. Some of them even have a thread about it.
    Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
    Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
    Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.     :)
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