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Debate House Prices
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House prices to fall 5% in 2013
Comments
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Are you saying price rises in the current climate are a good thing for a FTB?
No they are not a good thing for FTB's but they are what Hamish wants so that's what matters.0 -
And yet I know FTBers who borrowed way more than that.My missus currenlty has an AIP with a high street lender touching 5 times.
Wow.
Struggling with the meaning of "average" today, are we boys?
“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 -
Graham_Devon wrote: »Well, you wouldn't even get a flat here for £450 a month.
Cheapest available on rightmove for a 2 bed flat is currently £585 per month. Cheapest 3 bed £645 per month.
Eh? The 2 bed is less than £300pm per person. The 3 bed is even cheaper for folk flatsharing.0 -
shortchanged wrote: »No they are not a good thing for FTB's but they are what Hamish wants so that's what matters.
But you want fewer FTB-s to buy.
You want them stuck paying record high rents instead.“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 -
Certainly in the S East where I am prices are rising. Taking notice of some far off acadamic economist at Capital Economics is about as useful as taking advice on the war effort from a UK General in 2015, sipping sherry and twiddling his moustache far from the front line.0
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HAMISH_MCTAVISH wrote: »Wow.
Struggling with the meaning of "average" today, are we boys?
Fair point, but it's a pointless stat.0 -
HAMISH_MCTAVISH wrote: »But you want fewer FTB-s to buy.
You want them stuck paying record high rents instead.
Keep twisting it Hamish. You know perfectly well that I want house prices to fall so people don't waste so much of their money servicing a massive mortgage debt.0 -
Fair point, but it's a pointless stat.
No, it's really not.
The distribution of the vast bulk of those loans around the median is a pretty tight bell curve, much as you'd expect.
The overwhelming majority of borrowers, even at peak, borrowed between 2.5 and 4.5 times income. A few borrowed less, and a few borrowed more.
But the amount of reckless lending in the UK was vanishingly small.“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 -
PS - just to mention. I had a chap in yesterday that I saw 3 years ago. He bought a brand new town house in a small town in the home counties. He's just sold it for £50k more. I was quite taken aback tbh.0
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shortchanged wrote: »Keep twisting it Hamish. You know perfectly well that I want house prices to fall so people don't waste so much of their money servicing a massive mortgage debt.
And the only way prices can realistically fall, is if you prevent millions of people from buying, for an extended period of time.
But as we have seen this forces up rents.
So you want them to waste even more paying rent for a decade, than they could ever hope to gain from lower prices.
So you want to massively increase lifetime housing costs for the young.
Not very MSE is it?.“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
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