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Debate House Prices
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House Price Gains 'strongest in 6 years'
Comments
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I think Mervyn King will be proven to be wrong - he was just doing his bit to keep rates down.
Don't you find it a little far fetched?
I don't find it that far fetched that millions will have problems, no. That's the context in which we are speaking. You then came along and confused the situation by claiming we were talking about the market seeing devastation and millions repossessed.
What I do find frustrating though is you are happy to claim rates won't rise because too many would face problems. But then on the pother hand, to get around the problem of the world economy dictating interest rate rises, you claim it's all overdone and if they did rise there wouldn't be too many issues.
So seems you are happy to use what he says and claim rates therefore won't rise. But right after, you claim these problems don't really exist and it's all a little far fetched.0 -
Graham_Devon wrote: »What I do find frustrating though is you are happy to claim rates won't rise because too many would face problems. But then on the pother hand, to get around the problem of the world economy dictating interest rate rises, you claim it's all overdone and if they did rise there wouldn't be too many issues.
Hang on. I'm claiming that homeowners would be able to bear interest rate rises if they went up. If however I'm wrong and the BoE consider that millions of people would have problems then a rate rise becomes much less likely. There's no paradox.
As I said earlier though; just because homeowners can afford a rate rise doesn't make that a reason for increase them. The days of low rates being in place to protect the indebted homeowner are long gone - if they existed at all. There are much better economic reasons for rates to stay low and mortgage holders are just a beneficiary of these circumstances.
EDIT: Is there any evidence that SVR increases by Halifax & BoI have led to significant distress?0 -
Is there any evidence that SVR increases by Halifax & BoI have led to significant distress?
Nope.
A lot of noise form the usual suspects when it happened though, claiming this would cause prices to plummet.
Wrong again.“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 -
HAMISH_MCTAVISH wrote: »Nope.
A lot of noise form the usual suspects when it happened though, claiming this would cause prices to plummet.
Wrong again.
Well considering they reversed it, it's not much of a surprise is it. The hike in rates didn't happen. Yet there you are claiming victory because the effects of such a hike didn't materialise.
Wheres the roll eyes smiley when you need one?!0 -
Graham_Devon wrote: »didn't happen. ?!
Weird.
I distinctly remember you clucking around like chicken little, spouting opinions all over this forum that it was "very worrying" and that "many people will struggle", and that "house prices will fall".
None of that happened either.;)“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 -
HAMISH_MCTAVISH wrote: »Weird.
I distinctly remember you clucking around like chicken little, spouting opinions all over this forum that it was "very worrying" and that "many people will struggle", and that "house prices will fall".
None of that happened either.;)
Well no, as, as I explained to you, the policy was reversed.
I don't know how else to explain this to you.
If you reverse the policy, you are not going to see the effects. I'm lost as to how I can explain this to you in a way that you will grasp?0 -
Graham_Devon wrote: »the policy was reversed.
Really?
I just checked.
Halifax raised their SVR as planned.
Edit: Ha! So did BOI for 91% of their customers.
And yet none of the things you warned of happened.
Why?“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..... No disappearing on this one.
“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 considering they reversed it, it's not much of a surprise is it. The hike in rates didn't happen. Yet there you are claiming victory because the effects of such a hike didn't materialise.
The hike in rates did happen.
BoI SVR is 4.49% (from 2.99%).
Halifax SVR is 3.99% (from 3.5%).
Didn't Santander, Co-op, & Clydesdale all raise their SVR's too?0 -
Graham..... No disappearing on this one. “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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