'We've reached a tipping point' Signs of house price weakness

Crashy_Time

Jack_Johnson_the_acorn wrote: »

Don't mess with his head, you know he doesn't like facts or reasoned argument.

Crashy's debating style is similar to that of a toddler, he sticks his fingers in his ears and screams. "sheeple, liar loans, HPI junkies" anything that contradicts the majority view of HPC is clearly incorrect or inaccurate.

You "bought" at the wrong time Acorn, and there is every chance you paid too much for your house. How`s that for a fact and a reasoned argument :rotfl:

Blooloo

Crashy_Time wrote: »

You "bought" at the wrong time Acorn, and there is every chance you paid too much for your house. How`s that for a fact and a reasoned argument :rotfl:

Im pretty sure this is the poster Valerius on HPC who was banned for such statements, ad hom and just being incapable of understanding anything to do with arithmetic.

Claimed once that a reduction in the inflation rate ( still positive) meant a reduction in price.

wotsthat

Blooloo wrote: »

I was asking for evidence of MMR control...you say it is clear there is control..it is you that needs to provide evidence.

It's like a pantomime. It's your position that lenders are paying lip service to MMR - normal procedure would be to provide evidence of this when challenged - otherwise you're simply presenting assertion as fact.

I've never suggested it's clear there's control - that's your strawman - so I feel no great need to provide any evidence whatsoever.

Blooloo

wotsthat wrote: »

It's like a pantomime. It's your position that lenders are paying lip service to MMR - normal procedure would be to provide evidence of this when challenged - otherwise you're simply presenting assertion as fact.

I've never suggested it's clear there's control - that's your strawman - so I feel no great need to provide any evidence whatsoever.

I said" and even now they appear to be paying lip service to MMR."

Can you understand plain English?

I said they APPEAR....I say this because of press reports that different lenders are doing different things to different criteria..

I then went on to express hope that clarification would come soon in the form of control and sanction.

wotsthat

Blooloo wrote: »

again, a thoughtless provocative answer devoid of detail.

you provide no criteria in your assertion lending is up.

It is therefore easy and truthful to call you out.

Latest CML data - it's been quoted enough in this thread.

Gross mortgage lending at six year high in July.

Net mortgage lending for first six months higher than any corresponding period for five years.

Transactions for the first six months 25% higher than last year.

Number of FTB loans in June up 4.1% on last year and 30% up on 2012.

Obviously Crashy and Squeaky won't approve because the only data they like is that which hasn't yet been released.


http://www.cml.org.uk/cml/media/press/3620

http://www.cml.org.uk/cml/publications/marketcommentary

wotsthat

Blooloo wrote: »

I said" and even now they appear to be paying lip service to MMR."

Can you understand plain English?

I said they APPEAR....I say this because of press reports that different lenders are doing different things to different criteria..

I then went on to express hope that clarification would come soon in the form of control and sanction.

I understand English and I can recognise backtracking when Dr. Google has failed to provide the required proof.

Paying only lip service and a difference in interpretation and application of the rules are two entirely different assertions.

Blooloo

wotsthat wrote: »

Latest CML data - it's been quoted enough in this thread.

Gross mortgage lending at six year high in July.

Net mortgage lending for first six months higher than any corresponding period for five years.

Transactions for the first six months 25% higher than last year.

Number of FTB loans in June up 4.1% on last year and 30% up on 2012.

Obviously Crashy and Squeaky won't approve because the only data they like is that which hasn't yet been released.


http://www.cml.org.uk/cml/media/press/3620

http://www.cml.org.uk/cml/publications/marketcommentary

Now, compare the same lending with the end of the last boom...

equally valid until you mention some criteria.

Blooloo

wotsthat wrote: »

I understand English and I can recognise backtracking when Dr. Google has failed to provide the required proof.

Paying only lip service and a difference in interpretation and application of the rules are two entirely different assertions.

If its press reports you want, here is one:

MMR means lenders have to apply ‘stress tests’ to make sure someone could still afford their mortgage if interest rates went up.

In some cases, this could involve having to prove you would be able to pay a mortgage with a seven per cent rate.

People are likely to be asked for more detail about regular outgoings such as childcare, food, household bills, loans, credit cards, toiletries, hobbies and leisure activities, in order to weigh up whether or not they can afford their home loan.

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2613076/What-homebuyers-pass-stricter-mortgage-tests.html#ixzz3B8z7bdDW
Follow us: @MailOnline on Twitter | DailyMail on Facebook

if there were rules, then the italicised text would be definite rather than speculative.

wotsthat

Blooloo wrote: »

If its press reports you want, here is one:

MMR means lenders have to apply ‘stress tests’ to make sure someone could still afford their mortgage if interest rates went up.

In some cases, this could involve having to prove you would be able to pay a mortgage with a seven per cent rate.

People are likely to be asked for more detail about regular outgoings such as childcare, food, household bills, loans, credit cards, toiletries, hobbies and leisure activities, in order to weigh up whether or not they can afford their home loan.

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2613076/What-homebuyers-pass-stricter-mortgage-tests.html#ixzz3B8z7bdDW
Follow us: @MailOnline on Twitter | DailyMail on Facebook

if there were rules, then the italicised text would be definite rather than speculative.

A long long way away from proving only lip service is being paid. If an article from the DM with a few woulds and shoulds highlighted is the best you can do can't you see how weak your argument is?

Why not check the rules on the FCA site?

wotsthat

Blooloo wrote: »

Now, compare the same lending with the end of the last boom...

equally valid until you mention some criteria.

So to summarise my statement was correct.