Road to recovery starts with rising house prices

Graham_Devon

HAMISH_MCTAVISH wrote: »

They're not happy bears..... Always a sign that the posted article is a good one.

So the more people you get disagreeing with the article (and yourself), the better the article is? Theres no rattled responses, just reasonable, on topic responses to your article highlighting it's flaws.

Strange way of thinking.

Thrugelmir

Graham_Devon wrote: »

So the more people you get disagreeing with the article (and yourself), the better the article is? Theres no rattled responses, just reasonable, on topic responses to your article highlighting it's flaws.

Strange way of thinking.

Makes a pleasant change to have a polite debate where differing views are respected. :beer:.

HAMISH_MCTAVISH

Graham_Devon wrote: »

You've started the quote mid paragraph Hamish, for obvious reasons.

Yes.

To focus on the relevant part.

And as the master of selective quoting yourself, it's laughable that you should bring it up.

The first half of the paragraph states consumption was supported by withdrawals of equity from peoples homes.

Indeed.

But that doesn't only mean remortgaging.

It also includes proceeds from downsizing, and selling inherited property.

Of course, with considerably fewer people selling houses thanks to the mortgage famine, such activities are limited these days and the hit to the economy is considerable.

That's hardly something to try and re-create.

See above.

Large parts of it are exactly what needs to be re-created asap.

Houses should not, and can not, infact, provide a limitless source of funds to fund consumption.

How many times Graham, houses are a store of wealth, and 100% of that wealth is ultimately redistributed to younger generations.

Houses can, and should, provide an endless release of that wealth upon the death of the owners, and much of that wealth will then be spent in the wider economy.

CLAPTON

many of these 'conclusions' are basically anecdotal and not really supported by proper analysis.

there is, in fact little evidence that consumer spending was supported by 'quity release' or of downsizing; instead much of the evidence simply shows that people increased their mortgages to buy a bigger and better house.

the_flying_pig

HAMISH_MCTAVISH wrote: »

Yes.

To focus on the relevant part.

And as the master of selective quoting yourself, it's laughable that you should bring it up.



Indeed.

But that doesn't only mean remortgaging.

It also includes proceeds from downsizing, and selling inherited property.

Of course, with considerably fewer people selling houses thanks to the mortgage famine, such activities are limited these days and the hit to the economy is considerable.



See above.

Large parts of it are exactly what needs to be re-created asap.



How many times Graham, houses are a store of wealth, and 100% of that wealth is ultimately redistributed to younger generations.

Houses can, and should, provide an endless release of that wealth upon the death of the owners, and much of that wealth will then be spent in the wider economy.

not much to say to that other than

Thrugelmir

CLAPTON wrote: »

many of these 'conclusions' are basically anecdotal and not really supported by proper analysis.

there is, in fact little evidence that consumer spending was supported by 'quity release'

Equity withdrawl is a fact. All the info is contained in the BOE reports.

There's plenty of quality information out there in the public domain. Also many speakers who give an interesting insight on related topics.

Graham_Devon

HAMISH_MCTAVISH wrote: »

How many times Graham, houses are a store of wealth, and 100% of that wealth is ultimately redistributed to younger generations.

Houses can, and should, provide an endless release of that wealth upon the death of the owners, and much of that wealth will then be spent in the wider economy.

Dying and passing down wealth is nothing like withdrawing equity and adding to your debt to consume goods.

Selling up and downsizing, is NOT releasing equity, as per the article. Selling up and downsizing is exactly that. Equity release is something different, which you well know.

I can't honestly believe you have even attempted to pretend that's what the article, or you were talking about. And you call me Mr Muddle?

CLAPTON

Thrugelmir wrote: »

Equity withdrawl is a fact. All the info is contained in the BOE reports.

There's plenty of quality information out there in the public domain. Also many speakers who give an interesting insight on related topics.

you are probably being flippant again.

Emy1501

Yep doen't seem to be anything in article about people downsizing etc. Seems to be about mewing pre 2007.

Personally I think article misses the point. People are paying off debt now because the banks are forcing them to through repayment rather than IO mortgages and getting tough on mewing. There seems to be little evidence of mass over repayment of peoples mortgages due to concerns over prices.

homelessskilledworker

Thrugelmir wrote: »

Equity withdrawl is a fact. All the info is contained in the BOE reports.

There's plenty of quality information out there in the public domain. Also many speakers who give an interesting insight on related topics.

Some would even argue that Jimmy(reptile)Savile was just an eccentric jolly man who has not one conviction for child abuse, so is innocent.