'HPI should be capped at 5%' - RICS

Graham_Devon

wotsthat wrote: »

So all these people wanted to buy a house, had a deposit, access to finance but they waited for prices to increase before buying? They'll be cursing the doom and gloom commentators and wishing they'd ignored them.

Many are investors, as you well know.

chucky

Graham_Devon wrote: »

Certainly has increased demand. Most commentators in the business are suggesting this is the case, with people buying now in anticipation of HPI or worries over HPI making their purchase more expensive in a few months time.

Yet another example of more people missing the boat instead of waiting for the market to fit their exact criteria.

These are life choices under their own control, nobody else to blame.

wotsthat

Graham_Devon wrote: »

Many are investors, as you well know.

What about those that aren't? What's the rush? Doesn't make sense - they wanted a house, have a deposit and finance. I assume they didn't buy in because prices were simply too high but now they're even higher.

EDIT: I'm getting it now. People are sheep - when commentators say prices are too high they don't buy; when the same commentators say they can only go up in price they rush out and buy. Maybe time people started thinking for themselves.

leveller2911

chucky wrote: »

Yet another example of more people missing the boat instead of waiting for the market to fit their exact criteria.

These are life choices under their own control, nobody else to blame.

Not when Governments bring in pathetic schemes to prop the HPI which will do little good but may well buy them some votes at the next election...

No one else to blame, oh behave..........This is no free market ,this is manipulation by a few for the benefit of the few and not for the benefit of Society.

chucky

leveller2911 wrote: »

Not when Governments bring in pathetic schemes to prop the HPI which will do little good but may well buy them some votes at the next election...

No one else to blame, oh behave..........This is no free market ,this is manipulation by a few for the benefit of the few and not for the benefit of Society.

I'm sure there are new buyers buying property now, there are others who will rent, others who will buy smaller property and others in areas they can afford.

It's all about life choices and making good decisions with your life.

leveller2911

chucky wrote: »

I'm sure there are new buyers buying property now, there are others who will rent. It's all about life choices and making good decisions with your life.

Many would not be in any position to buy without Government intervention..

For instance there was a thread a cpl of days ago on the mortgages threads posted by a woman who was a stay at home mum, 4 children ,her husband works and is paid £21k a year. On top of this they receive benefits to the tune of £13k a year.They are looking into the governments HTB scheme to help them buy a house.

Those same benefits will be judged by lenders as income when calculating affordability when in fact their earnings are only £21k. These figures are common place on the mortgages threads if you bother to look. Posters on here like you Chucky live in a bubble..........

This is NOT a free market economy in action this is Government manipulation.This is about those few who don't want to see their paper wealth reduced.........at any cost.

chucky

leveller2911 wrote: »

This is NOT a free market economy in action this is Government manipulation.This is about those few who don't want to see their paper wealth reduced.........at any cost.

You should call the police, speak to your MP, go to the local press, if you're right someone will listen. This is scandalous, it shouldn't be allowed to happen.

Instead of living in your dream world Leveller, how about you educate yourself on how the world works instead of reading Internet forums...

leveller2911

chucky wrote: »

You should call the police, speak to your MP, go to the local press, if you're right someone will listen. This is scandalous, it shouldn't be allowed to happen.

Instead of living in your dream world Leveller, how about you educate yourself on how the world works instead of reading Internet forums...

Lol, made me chuckle there chucky boy.I do live in the real world, I know a few people local to me who have pretty much the scenario I posted and even larger benefit income. Its not unusual ,in fact its common place now.

I find it strange that the Condems will lend people up to £120k interest free for 5 years on a mortgage for a house and yet they are not interested in lending money to small to medium sized businesses that are viable and making a profit.

Do you not find that slightly worrying Chucky?.They will manipulate the housing bubble but not the wealth creators of the country.. Thats a bit odd imo.

EDIT:Don't take my word for it Chucky, pop onto the Governments tax credits calculator and see for yourself. Have a look at the threads on the mortgage section and the advice given by the mortgage advisors on there or the lending criteria online from the lenders re benefits being used as income.

chucky

Bless you Leveller. You're a good person.

Loughton_Monkey

wotsthat wrote: »

.......

EDIT: I'm getting it now. People are sheep - when commentators say prices are too high they don't buy; when the same commentators say they can only go up in price they rush out and buy. Maybe time people started thinking for themselves.

As I see it, people are in two camps. There is one very notable camp that says:

Prices are too high: So I can't buy.
Prices are going up: I'm going to be priced out, so I'll wait until they come down again.
There is extremely high demand: So I won't get one anyway.
Houses aren't selling: Obviously something going on, so I won't buy.
Mortgages are cheap: Can't buy, 'cos my mortgage payments will go up and cripple me.
Mortgages are expensive: Can't buy, 'cos I can't afford the repayments.

The other tends to say:

Prices are too high: So I need to save harder.
Prices are going up: I'd better get in there quick.
There is extremely high demand: So I need to get in there even quicker and might have to lower my expectations a tad.
Houses aren't selling: Should be able to get a bargain.
Mortgages are cheap: So it's a great bargain. Sooner I buy, the more years I get on mega-low interest rates.
Mortgages are expensive: I'll sacrifice to start with. Almost certainly they'll go down over time.

All I know is that I bought my first in 1973. With hindsight, the difference in my house equity today - had I paid 20% less for the first house (or 20% more for it) - is totally irrelevant.

I would simply love to have a 40 ft motor yacht moored in Nice. The reality is I cannot afford it. But I can give you 40 other reasons, if you like, why I am not buying a 40 ft yacht to moor in Nice.