Halifax HPI +0.5% MoM, +0.8% QoQ, -0.1% YoY

Graham_Devon

chewmylegoff wrote: »

this suggests that the "average family" has £144 of weekly disposable income per week, which means they could presumably save £624 a month if they really wanted to... there's no transparency in the figures though so it's impossible to say what this really means.

That disposable income needs to put food on the table, petrol in the car, clothes on backs etc.

As far as I'm aware, these are still defined as discrentionary spends, and not bills, taxes or living costs?

ess0two

At some point its all gonna turn,make the most of the current opportunities.

Just keep your head down and get on with it.

ruggedtoast

Batchy wrote: »

People who cut back and saved before they had a family, while they lived at home, and never had an Iphone, Ipad, Apple Mac, Plasma TV. Latest gadgets and new cars and designer clothes, will still buy as planned.

Then they can buy all of the above and enjoy life "if they want to"

Those who were destined to rent for life, will still be destined to rent for life. 100% mortgages were a short term fix for some. Most of whom have give up the ghost and give the houses back as they were scared about being in negative equity, and broken down relationships (probably caused by stressful money situations), this practice will never be repeated again. Move along, not saving a 10% deposit will most likely mean you will never be able to buy.

If you can't save then how do you expect to be able to keep up a mortgage for 25 years?

Rant over.

The market is in stagnation, prices going up this year, doubtful... going down this year... doubtful. Unless there is a killer shock... 5% increases in base rate would do it, but why would it happen, falling inflation... its more likely to go lower than 0.5%... defo more QE. Meaning higher than normal inflation... solving low housing inflation market. when inflation in the housing market picks up, it will pick up the whole economy. The economy needs a pick me up!... :-)

What is it with you people and your obsession with Apple products as some kind of totem of f3ckless youth? Every time one of you drags this tired old nag out of its stable it just underlines how out of touch you are with the reality that faces most people who haven't enjoyed decades of rising growth, house prices, and extraordinarily beneficial social contracts.

There are plenty of young families with normal jobs struggling by with pay as you go phones, student loan payments, 10 year old cars and fridges full of Tesco value food who can't afford to save for a deposit.

The reason they can't afford to buy a home is because they're being shafted by a virtually unregulated rental industry, rampant inflation, low wages and / or unemployment combined with the highest house prices in living memory; not to mention having to support the retirements and bank bailouts of a generation that wrote itself a cheque for a sweetheart pension deal and signed its' childrens names as payees.

The_J

DpchMd wrote: »

The fact is many people will never earn enough to save the required deposit for a mortgage. It's a real shame because many of these people could 'afford' the mortgage repayments if they were able to obtain a decent rate mortgage, but they are prevented from doing so because of the deposit requirements.

This naturally leads to a rich vs poor divide, and I can't see this changing in my lifetime.

DpchMd wrote: »

No, I'm just stating the bleeding obvious. You'd be surprised how many people don't get it. They believe they have a "right" to home ownership, but the "high prices" are obstructing that right.

The J - changing peoples opinions in 20 minutes or less.

We can go back to me destroying you on credit card use if you want but let's stick to the topic. Unless of course you can come up with some proof that credit cards are not profitable for banks I will continue to count that as another "argument" won. I put argument inside quotation marks because I don't consider speaking with the uneducated as an argument, it's more like a lecture. As you can see, sometimes you learn something (above), sometimes you don't.

DpchMd

The_J wrote: »

The J - changing peoples opinions in 20 minutes or less.

We can go back to me destroying you on credit card use if you want but let's stick to the topic. Unless of course you can come up with some proof that credit cards are not profitable for banks I will continue to count that as another "argument" won. I put argument inside quotation marks because I don't consider speaking with the uneducated as an argument, it's more like a lecture. As you can see, sometimes you learn something (above), sometimes you don't.

Bless, do you think there's some kind of contradiction in the 2 posts you quoted? That must have been very exciting for you.

There's nothing contradictory in saying that many people could afford mortgage repayments if mortgage rationing was relaxed, while maintaining that there will always be a rich/poor divide in home ownership.

You have an unusual tendency to claim victory when you've suffered an embarrassing defeat. Without revisting the credit card topic too much, you said:

The_J wrote: »

I've never used a credit card in my life and I advise everyone to do the same.

There's not a single successful financial advisor in the country that would make that statement. That's a fact.

To answer your question, the banks make a profit on credit cards because many people use them unwisely. As a successful financial advisor, I'm surprised that you fail to grasp the many advantages to using credit cards wisely. I really shouldn't need to state the "bleeding obvious" to a financial advisor.

chewmylegoff

Graham_Devon wrote: »

That disposable income needs to put food on the table, petrol in the car, clothes on backs etc.

As far as I'm aware, these are still defined as discrentionary spends, and not bills, taxes or living costs?

i would say they are almost certainly included in bills and/or living costs. the article specifically implies that petrol cost is included. clothing may not be, i suppose.

mystic_trev

The_J wrote: »

Mortgages generally last for 25 years as well.

I'm not sure that's correct? I certainly had no problem paying mine off in 11 years, and I'd actually extended my mortgage halfway through, having bought a larger house.

You just have to look at the Mortgage Free Wanabee forum to see how popular early repayment is.

chewmylegoff

The full report is here:
http://your.asda.com/system/dragonfly/production/2012/05/23/18_55_35_950_ASDA_income_tracker_May_2012.pdf

This indicates that cost of living includes
e.g.. food, clothing, housing costs, bills, transport, communication costs, health, children’s schooling, house maintenance and repair

And that discretionary spending power refers to
eg. holidays, cinema, theatre, eating out, toys, sports, savings, jewellery, national lottery and other gambling payments, computer software and games

It also says that (sorry about the rubbish copying and pasting):
The main factors putting pressure on family discretionary income in April were
• The cost of utilities
• Food costs
• Petrol and diesel prices


Therefore food, petrol and clothing are all deducted before calculating the £144 a week.

Graham_Devon

chewmylegoff wrote: »

i would say they are almost certainly included in bills and/or living costs. the article specifically implies that petrol cost is included. clothing may not be, i suppose.

I missed that.

There are so many different variations of disposable income and discretionary spending it's sometimes hard to keep up, and I've been caught out with it before!

Children are problematic though. This week it's been a new car seat and new shoes for my son as he grows. Bang, £140 gone.

Sometimes you think "well how can people possibly cope"....until you factor in benefits which aren't included in the income etc!

DpchMd

mystic_trev wrote: »

I'm not sure that's correct? I certainly had no problem paying mine off in 11 years, and I'd actually extended my mortgage halfway through, having bought a larger house.

You just have to look at the Mortgage Free Wanabee forum to see how popular early repayment is.

He'll now pick up on the fact that he said generally and then claim that he "annihilated" you in some kind of epic internet war.