The homeowners who cannot move home

homelessskilledworker

Mr._Pricklepants wrote: »

First off, I'm not Ree, I think that's clear now, obviously not to you. Whatever.
The question I can not answer, as I have no knowledge about jules' local housing market. Neither do you. So stop making assertions that it's overpriced from your armchair in Orton Longueville.

'pent up demand' was mentioned earlier. shorty and devon got all confused about it and dragging in the Ferrari analogy.
It might just be there are people willing to pay the price, but can't get finance? Cue Graham Devon : "if they can't get the finance, they can't afford it, muddle muddle...". Baffling.

You put a property on the market using your local estate agents, it then probably goes onto Rightmove, job done, it§ not rocket science Prickpants/Rees.
Its the same method up and down the country, and if you REALLY want a buyer there is only thing you can do...

I know it, the seller knows it, and probably even you know it

Mr._Pricklepants

shortchanged wrote: »

Aahh damn you got me there.

OK, let's put it this way. Do you think if house prices dropped by say 50% from their current levels and we had the same level of lending criteria we currently have that we would still have the same level of transactions as now?

Probably less.

Graham_Devon

Mr._Pricklepants wrote: »

finance? Cue Graham Devon : "if they can't get the finance, they can't afford it, muddle muddle...". Baffling.

Alright renno.

You may find that baffling, or muddling, but it's basic common sense!

The_White_Horse

shortchanged wrote: »

This is exactly the point Graham. We can go back to the old Ferrari analogy in that many people want one but hardly anyone can afford one. The housing market is like that at present. So the solution is lower house prices.

i don't see Ferrari lowering their prices. Just a select few own them. That will be the same for houses.

Mr._Pricklepants

Graham_Devon wrote: »

Alright renno.

You may find that baffling, or muddling, but it's basic common sense!

No it isn't.
I'm sure even you can see the distinction between unaffordable because of the price tag and unaffordable because of restricted credit availability.

Percy1983

Mr._Pricklepants wrote: »

No it isn't.
I'm sure even you can see the distinction between unaffordable because of the price tag and unaffordable because of restricted credit availability.

I think you are confused, if we could borrow whatever we wanted whenever we wanted we would all have Ferraris.

If you can't raise the funds you can't afford it, so if you don't meet the banks criteria you can't raise the funds so you can't afford it.

ukcarper

Percy1983 wrote: »

I think you are confused, if we could borrow whatever we wanted whenever we wanted we would all have Ferraris.

If you can't raise the funds you can't afford it, so if you don't meet the banks criteria you can't raise the funds so you can't afford it.

The thing is there are plenty of people who could afford the payments and meet criteria but haven't got deposit so you are saying it's ok for them to buy a BTL landlord house rather than thier own.

chewmylegoff

Percy1983 wrote: »

I think you are confused, if we could borrow whatever we wanted whenever we wanted we would all have Ferraris.

would we? i have a headroom of probably about £400,000 - 500,000 (secured and unsecured) of credit that i haven't drawn down. instead i owe nothing at all.

we would only all have ferraris if we thought we would never have to pay the money back, surely.

Graham_Devon

chewmylegoff wrote: »

we would only all have ferraris if we thought we would never have to pay the money back, surely.

Is that like the interest only loan where HPI will repay the money?

homelessskilledworker

Mr._Pricklepants wrote: »

No it isn't.
I'm sure even you can see the distinction between unaffordable because of the price tag and unaffordable because of restricted credit availability.

I cannot believe how dumb some people are, your argument seems to be everything is really ok and present house prices are fine, it's just that nobody is willing to lend.

Duh, helloooooo!!!

Thats the whole point, they should never have loaned money like they did pre 2007, they are not lending money now like they did pre 2007, and in the future they are unlikely to lend money like they did pre 2007.

It's like saying Ronnie Corbett would really be the best 100 mtr runner in the world if he wasn't 4ft 8", nearly 80 years old and with legs shorter than my 8 year old nephew.