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Debate House Prices
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MSE News: House prices climbed in October, says latest report
Comments
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just like your sound bites... meaningless...neverdespairgirl wrote: »It really is a meaningless cliche, that.0 -
So what was the elephant? Did we miss it, because there actually wasn't one?0
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Graham_Devon wrote: »You have it wrong on so many levels.
Though your concern for me is admirible, your need to try and confuse the situation to make me look silly is really screwing you over in terms of actually getting anything about me right.
TBF graham I have never been a psychic so I just guessed if you are in shared ownership you paid slightly over the odds for part of a house and falls would eat in to what equity you did have.
Sorry if that is not correct, but it was the best I could do without a tea cup or a crystal ball.0 -
TBF graham I have never been a psychic so I just guessed if you are in shared ownership you paid slightly over the odds for part of a house and falls would eat in to what equity you did have.
Sorry if that is not correct, but it was the best I could do without a tea cup or a crystal ball.
Falls would eat into equity, Of course they would. Same as anyone else.
Of course I paid over the odds, if you take the full valuation, SO is always valued above what it should be. But the valuation is not going to fall to market price just because prices have fallen, it will be overpriced compared to market price after falls too.
If it was 20% overvalued compared to market price of other houses in 2005, it will be 20% overvalued in 2010. They always have been. It would take a serious upheavel in the SO market to change that.
Falls affect me less, because any falls are shared. On the same note, any rises are shared. So I am sheltered from some of the falls, but don't make as much from the rises.
If you don't have a crystal ball, best not to state something as fact, and simply ask. I'm quite happy to tell you.0 -
that's all lovely and probably all true and maybe right but economies and house markets don't do emotion or what people want.Graham_Devon wrote: »I want lower prices, because it will enable me to afford a better place, one which suits, and isn't an overpriced shoebox. That's my VI. I also live in the SW, so skews my outlook on prices. It's very very difficult. Obviously I have my son to think about too.
On the other side of the coin. It's not just my wants. It's basic common sense in my view that prices are wel out of sync with wages, and have bought misery to thousands, as your lifes enjoyment is sapped from you due to excessive housing costs.
So I want lower prices, but also believe lower prices would be beneficial to many....just not landlords, those who have used their houses as cash cows, or those who took on debt on the premise the house would rise and rise.
It's not as if I don't lose out myself. Only bought in 2006, so would be in NE quicker than many. But can see eventually, the short pain would be worth it. But I don't have massive money tied up in housing investments.
it's either you make the most of the market environment or you sit and watch it go by...0 -
Graham_Devon wrote: »Falls would eat into equity, Of course they would. Same as anyone else.
Of course I paid over the odds, if you take the full valuation, SO is always valued above what it should be. But the valuation is not going to fall to market price just because prices have fallen, it will be overpriced compared to market price after falls too.
If it was 20% overvalued compared to market price of other houses in 2005, it will be 20% overvalued in 2010. They always have been. It would take a serious upheavel in the SO market to change that.
Falls affect me less, because any falls are shared. On the same note, any rises are shared. So I am sheltered from some of the falls, but don't make as much from the rises.
If you don't have a crystal ball, best not to state something as fact, and simply ask. I'm quite happy to tell you.
But I was right, if your equity goes to less than 10% you would not be able to move or buy the other half as you would not get a mortgage.
You are kidding yourself if you think SO can't fall by more than the general market.
Same as any other market it relies on the demand to support the price.0 -
it's either you make the most of the market environment or you sit and watch it go by...
Most people have to save first.
All you can do is position yourself the best you can and hopefully prosper from those savings.
It would be lovely if we could all just say "right, markets good, I'll buy in". But most people have to save the funds to do so.
It's not quite as simple as "get in" or "watch it go by".0
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