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Debate House Prices
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BoE votes to keep mortgage rates at 0.5% and other mortgage news
Comments
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Graham_Devon wrote: »I fear I might be bursting a bubble, but the BOE implicitly state that the mortgage paydown is through normal monthly payments, and a reduction in new debt.
It's not people actively paying over the mortgage in terms of overpayments. Just general monthly repayments.
Either way.
Mortgage debt is reducing.
Equity is rising
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »
Equity is rising
Depends where you are, might be chasing it down and even overtaking in some areas.;);)"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
IveSeenTheLight wrote: »Either way.
Mortgage debt is reducing.
Equity is rising
Source for debt reducing?
Equity is on paper only. Paper which is rapidly deflating away.0 -
RenovationMan wrote: »It feels like my birthday every BoE rate meeting. Perhaps instead of a cake, you could simply raise a glass of something tasty to the toast of the board, Reno man!
:beer: ..........:j ........:beer:0 -
Thrugelmir wrote: »Source for debt reducing?
Equity is on paper only. Paper which is rapidly deflating away.
Source for "rapidly deflating away"?
Because the ONS, Halifax, Land Registry, Rightmove, Nationwide, Acadametrics and ROS all disagree with you.“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 -
grizzly1911 wrote: »Depends where you are, might be chasing it down and even overtaking in some areas.;);)
Of course, there will always be exceptions, but we were talking generaly and the data in this thread appears that mortgage debt decreased 3.3% (on average), whilst valuations YoY are pretty stagnant (on average):wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Thrugelmir wrote: »Source for debt reducing?
Equity is on paper only. Paper which is rapidly deflating away.
Of course equity is on paper only, but the point is that equity is increasing, lessening the chance of 'Negative Equity' or moving those in NE either out of NE or closer towards being out of NE.
You want a source.
The discussion in this thread is about mortgage debt reducing.
If you need an external link, a quick google search found a number of articles relating to "A total of £122billion has been paid into mortgages since summer of 2008." such as: -
http://www.myfinances.co.uk/mortgages/2012/07/04/fewer-brits-borrowing-against-equity-in-their-homes
We can see that the housing market is pretty stagnant, meaning valuations are not decreasing.
If mortgage debt is decreasing whilst valuations remain stagnant, then the difference between the two mean increased equity.
Happy to answer your questions with facts :wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
HAMISH_MCTAVISH wrote: »Source for "rapidly deflating away"?
Because the ONS, Halifax, Land Registry, Rightmove, Nationwide, Acadametrics and ROS all disagree with you.
It actually will be deflating away in most areas of the country, including yours.
London and the South East it won't apply to quite as much, granted.0 -
Graham_Devon wrote: »It actually will be deflating away in most areas of the country, including yours.
London and the South East it won't apply to quite as much, granted.
How do you fancy showing some fact and figures, ideally with links to the raw data to show what you are expressing?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
He used to be quite a nice bloke. Not exactly sure what happened, but the bitterness appears to be building inside, he's trying to justify something to himself, but cant find the answer he wants to hear.
Stop pouting abaxas, just because I pointed out a counter argument to your 'house sellers are deluded beause they refuse to reduce the price of houses I want to buy' thread.0
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