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Debate House Prices
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Straw that broke the camels back?
Comments
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townendwig wrote: »Interesting to find this thread, I came on here to see if anyone else had noticed this, as I couldn't believe what I heard on Talksport of all places..
I swear I did a bit of a comedy double take at the radio yesterday (might have been thursday) when the newsreader was rattling through the headlines and came out with something along the lines of:
Critics are out against George Osborne's plans in the budget to give £120bn to help the housing market, saying it will make housing even more expensive.
Severely paraphrasing, but It was the first time I'd heard higher house prices referred to as a bad thing ie 'more expensive' rather than joy for homeowners etc.
A definite shift in sentiment from where I'm sat, I could not believe it. It stuck in my head like a thorn, it was that foreign to hear, and even the lady reading it out sounded like she didn't quite understand the concept as she was reading it out.
Just thought I'd share that, as it baffled me a bit, hence I came here to see if I was imagining things! Interesting to read the assertions on this thread that something similar is happening across the main news outlets?
The bit I cannot get my head around, is that this sort of scheme - ie taxpayers money backstopping mortgages is nothing new, but in the past it has only ever been heralded in the news as helping people to get on the ladder etc.so why is this latest scheme suddenly being reported as a bad thing??
It is the sentiment change which is interesting, if you believe this represents one, which I do. It was subtle but I picked up on it for sure.
Whilst it's true that the headline reporting has always praised market intervention to 'help' first time buyers, the more thoughtful financial pages (and many poster here ) have rubbished the plans for all the right reasons.
The only saving grace of the situation is that the take up of the initiatives has been very small so not much damage done.0 -
townendwig wrote: »Critics are out against George Osborne's plans in the budget to give £120bn to help the housing market, saying it will make housing even more expensive.
On what basis will this inflate house prices?
Why didn't the BOE FLS scheme receive the same criticism?0 -
Thrugelmir wrote: »On what basis will this inflate house prices?
Why didn't the BOE FLS scheme receive the same criticism?
well, FLS was supposed to be first and foremost about lending to business.FACT.0 -
read this thread and dont know what to think really,
l am a 1st time buyer with a decent deposit but struggling to find a mortgage that is affordable (by some lenders l have been quoted 1k a month in repayments) unless you can put down a 30% min deposit on a new house most lenders wont lend as they are saying that new houses are extremely over priced, l have read a report by galvan that states the housing market in the uk is anything up to 40% over priced at the moment but there is nothing we can do about it, as at the moment it is a sellers market and they are going to try and hold out for more money, if the market was to drop by any % it would benefit the whole market as more people could move up the ladder and us 1st timers could get a foot on!!!!!!! look at the way house prices and mortgages have gone up our wages certainty havent risen anywhere enough to even afford a shoe box at the moment, if anything our wages are going down each week as cost of living goes up
anyway just my 2p's worth of thoughts and l for one when viewing houses now will only offer what l feel it is worth l dont even look at the price they are asking for, yes it has seen me turned down more than once but hey they cant all say no, l am regularly afforing 30k+ below asking prices, see it as a one man crusade against high prices lol but if all 1st time buyers were like me then it might make a difference somewhere along the line.
anyhow, how can there be a reccession with hardly any interest rate, look at the past ones, the interest rate in past ones has always been high, we are a very long way in getting out of the woods yet !!!!!!!!!0 -
the_flying_pig wrote: »well, FLS was supposed to be first and foremost about lending to business.
Banks can lend the funds as they wish. There is no directive.
Lending to business does not provide growth. Contrary to what politicians appear to believe.0 -
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Thrugelmir wrote: »On what basis will this inflate house prices?
Why didn't the BOE FLS scheme receive the same criticism?
Because there what little demand as people don't have sufficient deposit to meet the criteria?
Now they can pay to open the door?"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 -
the_flying_pig wrote: »well, FLS was supposed to be first and foremost about lending to business.
A quaint notion unless you include BTL in that.
I wonder what a relatively cheap funds guarantee would have made toreal business rater than housebuyers?"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 -
Thrugelmir wrote: »Banks can lend the funds as they wish. There is no directive.
Lending to business does not provide growth. Contrary to what politicians appear to believe.
Why doesn't lending to business facilitate growth? I appreciate capital is also required."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 -
read this thread and dont know what to think really,
l am a 1st time buyer with a decent deposit but struggling to find a mortgage that is affordable (by some lenders l have been quoted 1k a month in repayments) unless you can put down a 30% min deposit on a new house most lenders wont lend as they are saying that new houses are extremely over priced, l have read a report by galvan that states the housing market in the uk is anything up to 40% over priced at the moment but there is nothing we can do about it, as at the moment it is a sellers market and they are going to try and hold out for more money, if the market was to drop by any % it would benefit the whole market as more people could move up the ladder and us 1st timers could get a foot on!!!!!!! look at the way house prices and mortgages have gone up our wages certainty havent risen anywhere enough to even afford a shoe box at the moment, if anything our wages are going down each week as cost of living goes up
anyway just my 2p's worth of thoughts and l for one when viewing houses now will only offer what l feel it is worth l dont even look at the price they are asking for, yes it has seen me turned down more than once but hey they cant all say no, l am regularly afforing 30k+ below asking prices, see it as a one man crusade against high prices lol but if all 1st time buyers were like me then it might make a difference somewhere along the line.
anyhow, how can there be a reccession with hardly any interest rate, look at the past ones, the interest rate in past ones has always been high, we are a very long way in getting out of the woods yet !!!!!!!!!
1000 per month means very little I'm afraid without knowing the size of the loan.
what APR are they offering you?
what sort of price range are you looking at?
what part of the country are you looking in0
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