ONS- June: +2.3%

HAMISH_MCTAVISH

wotsthat wrote: »

Thread ends and a new one starts.....

Such a shame.... I like this one.:)

Rinoa

HAMISH_MCTAVISH wrote: »

Such a shame.... I like this one.:)

Indeed.

A 2.3% YoY increase is a pertinent reminder of just how well the market is holding up, despite the 1000's of negative threads posted during the past 12 months by groaner graham and his band of doomster junkies.

Thrugelmir

Rinoa wrote: »

Indeed.

A 2.3% YoY increase is a pertinent reminder of just how well the market is holding up,

Is being held up. The question is how long can asset prices be propped up for. Only so such much QE and cheap money can be pumped into the financial system. As money alone won't cure the fundamental issues within the economy.

At the moment investors appear to be chasing returns without factoring in the potential risks.

HAMISH_MCTAVISH

Rinoa wrote: »

Indeed.

A 2.3% YoY increase is a pertinent reminder of just how well the market is holding up, despite the 1000's of negative threads posted during the past 12 months by groaner graham and his band of doomster junkies.

Quite.

And not only that, but also despite the enormous headwinds facing the market.....

We have severe mortgage rationing, high unemployment, ludicrous deposit requirements, rate apartheid for FTB-s, the longest and deepest recession in history caused by a global financial crisis, falling real income, tens of thousands of repossessions a year, benefit cuts, public sector wage freeze, and banks subverting the low rate environment agenda of the BOE by making record high margins on new borrowing and ramping up interest rates on SVR-s.

It's the perfect storm for housing, yet prices remain just 10% or so below peak, have risen over 2% in the last year, and rents have soared to new all time record highs.

It's quite remarkable how badly the bears underestimated the impact on prices of the chronic and worsening supply shortage in the UK.

And given the market is performing this well in the worst economic environment for decades, it's quite staggering to think how big the next boom will be when the mortgage markets become less dysfunctional, the economy recovers, and the biggest generation of FTB-s in history (bigger even than the boomers) crash into the worst housing shortage and lowest house building rates since the 1920's with only one possible result..... And it ain't falling prices...

Hold on to your hats, the next boom will start soon enough and it's going to be absolutely massive.

Graham_Devon

HAMISH_MCTAVISH wrote: »

It's quite remarkable how badly the bears underestimated the impact on prices of the chronic and worsening supply shortage in the UK.

Hamish.

You BOUGHT in 2007, believing prices were going up.

Regardless of how far out others predictions were, at least they were in the right direction.

You are right on one part. The perfect storm. Which is precisely why you hope for lower interest rates, more QE, to flood the country with immigrants, to oppose all building, and are for any scheme possible which means people don't have to sell, whether that means NHS budgets being targetted at keeping a house for someone who doesn't even live in it, or reposessions never being allowed to happen again.

This is all regardless of whether you have said in the past about benefits going to people....somewhere you have already been caught out on your hypocrisy...

What always makes me smile is how you hate the banks on some threads (due to mortgage "rationing" holding back your beloved HPI), but applaud any kind of stimulus which helps the banks and the rich in another breath.

HAMISH_MCTAVISH

Graham_Devon wrote: »

Hamish.

You BOUGHT in 2007, believing prices were going up.

Regardless of how far out others predictions were, at least they were in the right direction.

:rotfl:

I bought in 2007 because I needed a place to live, and my choice was buy or rent.

Had I rented instead of buying, I'd be north of £50,000 worse off by now.

But even putting that aside, prices have in fact gone up where I live.... according to the latest available Register of Scotland (scottish land registry) figures, they are now 6% higher than in the same month in 2007.

DervProf

Graham_Devon wrote: »

You are right on one part. The perfect storm. Which is precisely why you hope for lower interest rates, more QE, to flood the country with immigrants, to oppose all building, and are for any scheme possible which means people don't have to sell, whether that means NHS budgets being targetted at keeping a house for someone who doesn't even live in it, or reposessions never being allowed to happen again.

And why does Hamish hope for these things ?

The value of his property goes up :beer: . Yes, my property goes up too, along with millions of others. The sad thing is there are lots of others like Hamish who don't see, or won't acknowledge the downside of all of this. Too much "b*****r you Jack, I'm alright".

Graham_Devon

HAMISH_MCTAVISH wrote: »

:rotfl:

I bought in 2007 because I needed a place to live, and my choice was buy or rent.

Had I rented instead of buying, I'd be north of £50,000 worse off by now.

But even putting that aside, prices have in fact gone up where I live.... according to the latest available Register of Scotland (scottish land registry) figures, they are now 6% higher than in the same month in 2007.

You already had a place to live. You have told us over and over about your second home.

An your post doe's nothing to deny what I said about the direction at least being right.

I think the saying is "don't throw stones in glass houses".

HAMISH_MCTAVISH

Graham_Devon wrote: »

You already had a place to live. You have told us over and over about your second home.

And why did I need a second house?

Because we took in an aging relative when their circumstances changed.... And it would have done my head in to live with them for the last 5 years.

So we let them live in our first house rent free, and bought another to live in ourselves.

My choice was always buy or rent. And the gains from buying versus renting are massive. Had I chosen to follow the advice of the doomers, I'd be more than £50,000 worse off by now.

An your post doe's nothing to deny what I said about the direction at least being right.

I think the saying is "don't throw stones in glass houses".

It's at times like this I really miss the rolleyes smiley.:(

The direction for Aberdeen since then is up. So a capital gain to add to the savings in mortgage interest versus rent.

I think the saying you need to remember is "stop digging yourself a deeper hole" Graham.....

Graham_Devon

Well then you should make sure that whenver you say the housing market is gonna boom or go up, you tag on the end "in aberdeen".

Prices have fallen just under 10% in Aberdeeen in the last year anyway according to Lloyds, which you promptly wrote off as a mistake.