Housing Crash Coming

bartelbe

DannyGold wrote: »

So....
HPC.com could stand for house price correction:)

Whatever word you use it means similar

Property prices went up far more than inflation last decades and there need to be a correction to bring in line with everything else.

Exactly, there allot of deluded people who think that house price inflation can go on forever.

Once mortgages become unaffordable, there will be no buyers on the market.

MobileSaver

bartelbe wrote: »

Once mortgages become unaffordable, there will be no buyers on the market.

Cool story bro.

Slight flaw in your argument is that a third of all transactions are cash so obviously no need for a mortgage... :rotfl:

DannyGold

bartelbe wrote: »

Exactly, there allot of deluded people who think that house price inflation can go on forever.

Once mortgages become unaffordable, there will be no buyers on the market.

The perma prop bulls now say don’t worry it will only be cash buyers keeping the bubble inflated soon:rotfl:

MobileSaver

DannyGold wrote: »

The perma prop bulls now say don’t worry

Please can you name who the perma prop bulls are?

Every time you are asked this you go quiet, perhaps they only exist in your head and not in the real world? :rotfl:

triathlon

DannyGold wrote: »

The perma prop bulls now say don’t worry it will only be cash buyers keeping the bubble inflated soon:rotfl:

Why can't you people just do the most basic of research. the majority of British homes are not even mortgaged, that's more than 50% to you if you still do not understand. The longer people leave buying the tougher it gets for them.

Windofchange

triathlon wrote: »

Why can't you people just do the most basic of research. the majority of British homes are not even mortgaged, that's more than 50% to you if you still do not understand. The longer people leave buying the tougher it gets for them.

Swung by here after a couple of years, and nothing has changed. Just looked for the latest post by Great Ape, I mean Triathlon, and the madness is still spewing forth from his bedsit somewhere in the midlands, sorry, I mean Cote D'Azure penthouse. The ONS report below shows in figure 1 that about 34% of UK property is owned outright (Released January 2019), so how have you arrived at a figure of more than 50% of British homes do not have a mortgage? I can hazard a guess. It probably involved nothing to do with ' the most basic of research', and a lot to do with the most advanced lack of education.

https://www.ons.gov.uk/economy/inflationandpriceindices/articles/ukprivaterentedsector/2018

Zero_Sum

MobileSaver wrote: »

Cool story bro.

Slight flaw in your argument is that a third of all transactions are cash so obviously no need for a mortgage... :rotfl:

Slight flaw in your argument is that a third of all properties are owned outright.
Quite a lot of these will be pensioners who originally bought with mortgages & have no intention of moving.

This means that number of cash buyers will be a fair bit less than a third.

ukcarper

Windofchange wrote: »

Swung by here after a couple of years, and nothing has changed. Just looked for the latest post by Great Ape, I mean Triathlon, and the madness is still spewing forth from his bedsit somewhere in the midlands, sorry, I mean Cote D'Azure penthouse. The ONS report below shows in figure 1 that about 34% of UK property is owned outright (Released January 2019), so how have you arrived at a figure of more than 50% of British homes do not have a mortgage? I can hazard a guess. It probably involved nothing to do with ' the most basic of research', and a lot to do with the most advanced lack of education.

https://www.ons.gov.uk/economy/inflationandpriceindices/articles/ukprivaterentedsector/2018

Do you think social housing and all private rental accommodation have mortgages on.

Windofchange

ukcarper wrote: »

Do you think social housing and all private rental accommodation have mortgages on.

Nope. What impact are social tenants and private renters going to have on the number of homes owned outright? They by definition aren't residing in 'owned' property, and therefore why do they impact on the total figure of homes owned? Granted, there may be some exceptions where an owner occupier owns a house and chooses to rent elsewhere, as I did myself for a period, but how many do you think this accounts for? The below is a different source showing the number of 'families' in each kind of housing situation.

https://www.resolutionfoundation.org/data/housing/

2018 Q3 28.2% of homes owned outright. 2018 Q3 24.5% own with a mortgage. If you can show me how more than 50% of the population own their house outright please do.

Windofchange

If your assertion is simply that more people don't have a mortgage than do, then we agree. My question to you then would be how does this revelation support the assertion that everyone had best get a mortgage ASAP because things are only going to get 'tougher'?