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Debate House Prices
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Whinging.
Comments
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RenovationMan wrote: »Whatever happened to the 'ever popular' OptionARM armageddon? I haven't seen that one in ages.
i think that particular time-bomb has the same fuse as the alt-a mortgage one.0 -
RenovationMan wrote: »Whatever happened to the 'ever popular' OptionARM armageddon? I haven't seen that one in ages.
I think there's been a few lists compiled over the years of failed bear predictions for what would cause the second leg down.
It'll be a very long list by now....:)“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 -
HAMISH_MCTAVISH wrote: »I think there's been a few lists compiled over the years of failed bear predictions for what would cause the second leg down.
It'll be a very long list by now....:)
And the list is getting longer by the day....
Brit1234 has signalled the end of the Olympics as starting date for the next leg down. :rotfl:0 -
Is an adjustment not happening due to inflation against static prices?0
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Is an adjustment not happening due to inflation against static prices?
...not to mention the fact that sterling has lost a significant chunk of its value relative to other currencies precisely because it has been devalued by our false economy... Some bulls tend to focus purely on the price tag rather than the relative value of that amount in real terms. Which is why, in a perverse way, the crash has in part already happened, even though the house prices-to-earnings ratio hasn't returned to a state of realism. However, as long as high ratios are maintained, economic recovery will be problematic, as the higher the percentage of earnings required to pay off mortgages, the less one is able to spend.0 -
RenovationMan wrote: »Whatever happened to the 'ever popular' OptionARM armageddon? I haven't seen that one in ages.
That was an old favourite of 'mgpgf' whatever.Official MR B fan club,dont go............................0 -
RenovationMan wrote: »I have an interest only mortgage and I bought in 2010, 5 years after 2005. My LTV is approaching 50%. As I have suggested, the vast majority of people aren't FTBers and the vast majority of home owners have more than 85% LTV.
You are being pedentic to try and prove a point using your own situation. Everyone is aware of the years in which house prices rose and when they fell/stagnanted nationally.
While some of the properties that FTB tradionally look at have been brought by landlords, everyone knows the market doesn't move if people cannot get credit to buy smaller properties.
I could point out that I live in a place where if you can't sell your property you can very easily rent it out and more than cover your mortgage even if it is inflated, but that isn't the national picture.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
...not to mention the fact that sterling has lost a significant chunk of its value relative to other currencies precisely because it has been devalued by our false economy... Some bulls tend to focus purely on the price tag rather than the relative value of that amount in real terms. Which is why, in a perverse way, the crash has in part already happened, even though the house prices-to-earnings ratio hasn't returned to a state of realism. However, as long as high ratios are maintained, economic recovery will be problematic, as the higher the percentage of earnings required to pay off mortgages, the less one is able to spend.
An interesting argument. "The crash" has sort of happened, it's just that houses have only got cheaper when not measured in terms of wages? Not much use unless you want to buy them using the pile of Swiss francs you have saved up in your bank vault.
Personally if I was waiting for a crash it would be nice if it made the house cheaper when measured against my ability to buy it!0 -
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Thrugelmir wrote: »NRAM still holds over 750,000 mortgages with an average LTV in excess of 75%.
It's still the case that the average LTV across all mortgages is around the 60% mark.
Some will be higher and some lower. NRAM customers are part of the mix and paying down the debt. LTV's will continue to improve partly because people's finances haven't been devasted and, obviously, because banks aren't making loans at higher LTV'S any more.
When I see that even the 'bad bank' holds mortgage debt at 77% LTV things can't be that bad for the average mortgage holder after all.0
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