Lazy repost - Interest only, the ticking timebomb say Daily Mail

shortchanged_2

ukcarper wrote: »

Do you really think house prices will be where they are now in 20 years time in nominal terms.

I doubt it but who knows.

Property is still overvalued in this country so I certainly don't see house prices rising 200 - 300% again like in the previous decade.

Graham_Devon

wotsthat wrote: »

That the FSA don't need to worry about him?

I really couldn't see any other point being made.

Are the FSA worrying about him specifically?

You did just moan about people doing exactly what you are now doing, right?

Graham_Devon

Fresh article from the Daily Mail. http://www.dailymail.co.uk/debate/article-2128226/The-fuse-running-Britains-mortgage-timebomb.html

On the point of repayment vehicles, the mail simply suggest...

It doesn’t take the deductive powers of Sherlock Holmes, though, to divine that the vast majority do not.

nearlynew

Graham_Devon wrote: »

Fresh article from the Daily Mail. http://www.dailymail.co.uk/debate/article-2128226/The-fuse-running-Britains-mortgage-timebomb.html

On the point of repayment vehicles, the mail simply suggest...

The daily mail once used to rejoice at rising house prices.
Now it publishes stories about people getting into difficulty with IO mortgages.

It's a pity they and their readers (as well as the general poulation) are too stupid to make the connection between the two,

RenovationMan

shortchanged wrote: »

I doubt it but who knows.

Property is still overvalued in this country so I certainly don't see house prices rising 200 - 300% again like in the previous decade.

The question wasn't about the movement of house prices over as short a period as a decade, it was over 25 years. I'd argue that it should be looked at over 30 years or more because most people move house a couple of times and reset their mortgage terms.

Over the last 25 years house prices have risen from £44,355 to £166,597, which encompassed a crash in 1990 and virtual stagnation until 1996.

http://www.housepricecrash.co.uk/indices-nationwide-national-inflation.php

Thrugelmir

RenovationMan wrote: »

Over the last 25 years house prices have risen from £44,355 to £166,597, which encompassed a crash in 1990 and virtual stagnation until 1996.

Selective quote. What's the rise between 1999 and now?

wotsthat

Graham_Devon wrote: »

Are the FSA worrying about him specifically?

Yes they are - he's part of the 'ticking time bomb'. Actually I think we'll call the autobiography 'Renoman and the ticking time bomb'. An inspring true tale of a massive financial gamble taken against the backdrop of economic turmoil and horribly high petrol prices.

Will it work out? What's best - a more efficient boiler or additional insulation? Will he go to heaven? You'll need to buy the book to find out.

In the film version it'll be pimped up a bit. Brad Pitt (playing Renoman) will have nightmares in which he has visons of his friends, the three amigos, Graham_Devon, Shortchanged and Dervprof begging him to convert to a repayment mortgage. I've not cast them yet but I'm looking for Jesus Christ lookalikes with sad slightly disapproving faces.

I've got an idea for another dream sequence involving Kirsty Allsop and Merryn Somerset Webb but it would blow the PG rating right out of the water.

Thrugelmir

wotsthat wrote: »

You'll need to buy the book to find out.

JK Rowling is looking for a new adult fantasy series for Harry Potter to star in.

Conrad

Thrugelmir wrote: »

Selective quote. What's the rise between 1999 and now?

All clients I've dealt with from 1999 have at the very least doubled thier money - this is in the South East. I take no notice of muppet national statics as they typcially bare no resemblence to my every day real world experience of lender valuations.

Thrugelmir

Conrad wrote: »

All clients I've dealt with from 1999 have at the very least doubled thier money - this is in the South East. I take no notice of muppet national statics as they typcially bare no resemblence to my every day real world experience of lender valuations.

House purchase was at its lowest level in 2011 for 27 years.

Suggests that the market is far healthy.