Newsnight: House price crash

brit1234

Just had a debate between an economist and some top estate agent about rising mortgage rates. He ripped estate agent apart and got the final words something like"coming house price crash" and "rising repossession".

He smiled at her and she scowled. :rotfl:

She blamed the rate rises for killing off the spring bounce I think.

Is a good watch for the Iplayer.

brit1234

MrsJoyceRee wrote: »

I've read a few things on this forum and that other degenerate hang-out HPC about lazy self-entitles losers of your ilk wishing real hardship and misery on others so that you can steal their houses off them. Disgusting.

Sibley I will be happy just to buy a repossessed landlords property, thats not evil is it.

Any way what do you care, you will be in Thailand dodging ping pong balls, drinking cheap whisky praying that first time buyers will still be priced out.

Did you see the debate though. It was Bull 0 Bear 1 and boy the looks were good.

DevCoder

But that American guy had the final word on a number of TV programs stating that the end of the world was coming and he was right wasn't he?

Oh wait...

Best to research the market and understand economic conditions yourself then rely on any TV "viewer grabbing" show.

Sibley

Sibley I will be happy just to buy a repossessed landlords property, thats not evil is it.

Any way what do you care, you will be in Thailand dodging ping pong balls, drinking cheap whisky praying that first time buyers will still be priced out.

Did you see the debate though. It was Bull 0 Bear 1 and boy the looks were good.

No I didn't see it and no if you manage to buy any property cheap good luck to you.

I don't really care who hangs out on HPC either. They won't ever buy my house cheap. That's all I would worry about.
I promise you that will never happen.

Fella

12:30 onwards: http://www.bbc.co.uk/iplayer/episode/b01d5ws2/Newsnight_08_03_2012/

His final statement: "if the (recession) is going to carry on for years & years it's not the job of the BOE to punish prudent people by keeping savings very low & inflation high so as to keep people who shouldn't have borrowed the money in houses they can't afford".

brit1234

Does it matter if mortgages go up? Newsnight considers the future for mortgage rates and asks what will become of those hoping to own a home. Presented by Kirsty Wark.


http://www.bbc.co.uk/iplayer/episode/b01d5ws2/Newsnight_08_03_2012/

12.20 Minutes in

Funny watching the estate agent sqirm all over again, she is very out of her depth. Even Hamish could at least spout some rubbish if he was on but this women can't really answer.

22.35 The I hate you death stare from the estate agent against the economist when he talks about the coming house price crash being bigger than the 90's. Priceless:rotfl:

brit1234

Fella wrote: »

12:30 onwards: http://www.bbc.co.uk/iplayer/episode/b01d5ws2/Newsnight_08_03_2012/

His final statement: "if the (recession) is going to carry on for years & years it's not the job of the BOE to punish prudent people by keeping savings very low & inflation high so as to keep people who shouldn't have borrowed the money in houses they can't afford".

You beat me to it, I was to busy looking at the evils again again whilst posting.

sheffield_lad

lol, house price posts do make me laugh, each side is so desperate to show their thinking is correct.

The thing is even the last few years are an argumentative point as no one seems to be able to say if how prices have gone up or down.

I think I prefer being in the owners club though as after 25yrs your out of the argument and can look in with a smile on your face, not sure if the doomers who have house prices falling will ever buy even when prices are cheap as they seem to be bitter. (or skint and not credit worthy), lol

Fella

howee wrote: »

lol, house price posts do make me laugh, each side is so desperate to show their thinking is correct.

The thing is even the last few years are an argumentative point as no one seems to be able to say if how prices have gone up or down.

I think I prefer being in the owners club though as after 25yrs your out of the argument and can look in with a smile on your face, not sure if the doomers who have house prices falling will ever buy even when prices are cheap as they seem to be bitter. (or skint and not credit worthy), lol

Any sensible homeowner would have been watching the house price boom from 1995 onwards in utter horror.

Unless you intend to trade down & retire then all that's happened is the differential between your current house & the house you intend to move to has increased massively.

And the catastrophic fallout to the economy in general was not, as lots of politicians would like to convince us, entirely unforeseeable. Plenty of people were predicting the boom would end in tears, the fact they didn't necessarily predict in minute detail the way it would unfold (LIBOR, credit crunch etc) is irrelevant.

I bought my house in 1997 & it's more than tripled in value. Personally I'd like to see house prices fall back to 1997 values or at least nearer to them. The current situation where millions of people have massive mortgages they can only afford to pay as long as IRs are kept at 0.5% - along with millions of others for whom a new purchase is totally out of reach - is a complete disaster. Let IRs raise & house prices correct to somewhere nearer to where they should be. Painful in the short term but much better longterm.

chewmylegoff

Whether some man "wins" a 5 minute debate with an estate agent on news night has no impact on anything. It has about as much bearing on anything as geneer and hamish shouting at each other.

ILW

howee wrote: »

lol, house price posts do make me laugh, each side is so desperate to show their thinking is correct.

The thing is even the last few years are an argumentative point as no one seems to be able to say if how prices have gone up or down.

I think I prefer being in the owners club though as after 25yrs your out of the argument and can look in with a smile on your face, not sure if the doomers who have house prices falling will ever buy even when prices are cheap as they seem to be bitter. (or skint and not credit worthy), lol

Odd thing is, I have paid off my mortgage, but still think lower housing costs would be better for the vast majority in this country. Does this make me a bit strange?