Halifax ... 1.7% rise MOM

triathlon

Crashy_Time wrote: »

So people`s access to cash/credit for general outgoings has no bearing on whether they pay their mortgage/rent or can buy property or need to sell property? BUT your original point asked if I thought the banks were tightening/getting more prudent, I think they are in general definitely more so than a few years ago, and as the debt/financial system is all interlinked any tightening moves by the banks has a bearing on things relying on debt - property being the main example. Do you know how many people use a credit card to pay rent or mortgage or repairs on their house? You seem to just shout "Not relevant" when facts are presented that counter your arguments, what are your views on falling property transactions coupled with rising average prices for example, bearing in mind that the figures come from a company that is in the business of selling mortgage debt?

You constantly get upset when nobody outside cult websites take your findings seriously, but can you honestly not understand peoples reluctance to take you seriously when you have called property related issues so badly wrong and for such a long time

triathlon

Crashy, and while we are at it, all the other guests from that website we dare not mention. I know you won't take advice, so many of us have tried after all these years. Yet again I am reading "proof that the housing market will crash this year", all I will say is lets all meet up in January 2021 when we discover you are wrong again, and I would encourage you all

GET ANOTHER PLAN FOR HEAVENS SAKE

lisyloo

Crashy_Time wrote: »

So people`s access to cash/credit for general outgoings has no bearing on whether they pay their mortgage/rent or can buy property or need to sell property? BUT your original point asked if I thought the banks were tightening/getting more prudent, I think they are in general definitely more so than a few years ago, and as the debt/financial system is all interlinked any tightening moves by the banks has a bearing on things relying on debt - property being the main example. Do you know how many people use a credit card to pay rent or mortgage or repairs on their house? You seem to just shout "Not relevant" when facts are presented that counter your arguments, what are your views on falling property transactions coupled with rising average prices for example, bearing in mind that the figures come from a company that is in the business of selling mortgage debt?

When people apply for a mortgage these days there are strict affordability criteria. They need to be able to afford the mortgage from their income, so new mortgages will not be reliant on unsecured loans.

If the link is valid then it might make it more difficult for people to buy things for their house and they’ve have to do what we did in the past I.e. make do and mend, borrow, go without, save etc. Rather than having it now (there are few things that are absolutely essential), but I don’t see how it would stop anyone from getting a mortgage,

Sources for deposits are checked by lenders, so you can’t just put that on a credit card or loan.

Crashy_Time

lisyloo wrote: »

When people apply for a mortgage these days there are strict affordability criteria. They need to be able to afford the mortgage from their income, so new mortgages will not be reliant on unsecured loans.

If the link is valid then it might make it more difficult for people to buy things for their house and they’ve have to do what we did in the past I.e. make do and mend, borrow, go without, save etc. Rather than having it now (there are few things that are absolutely essential), but I don’t see how it would stop anyone from getting a mortgage,

Sources for deposits are checked by lenders, so you can’t just put that on a credit card or loan.

Well your first line explains falling transactions, and my point was mainly about people who are struggling month to month to pay bills/rent/mortgage probably going to be struggling more, not sure how any of that helps an over-priced property market TBH.

lisyloo

Crashy_Time wrote: »

Well your first line explains falling transactions, and my point was mainly about people who are struggling month to month to pay bills/rent/mortgage probably going to be struggling more, not sure how any of that helps an over-priced property market TBH.

Transactions have been falling due to brexit uncertainty.
Prices have in general been going up nominally (London an exception).

People now have more confidence post election.
There is pent up demand so those who’ve been sensibly saving can now plough on with their purchase.

Do you have any investments or pensions?
How are they doing?
I’m seeing a return of confidence and good double digit returns.

I don’t believe there is any issue for people that can afford to buy.
There will always be people struggling month to month. Sensible rules have been in place for some time so either they’ve made bad decisions or fallen on hard times. That’s sad but it’s going to happen whatever part of the cycle we’re in.
There simply isn’t widespread evidence of distress e.g. increasing levels of bankruptcies and foreclosures.
Unemployment is at record lows.

I think it would be better for people to put a plan in place and take action, like getting a second job for example rather than relying on outside events like the market to fall or for the government to keep a promise. Those who make their owns plans have been far more successful and much more quickly IME in fact many of us are mortgage free now.

We see the same posters on here who for reason won’t just get on and make a plan.
If I was unable the first thing I’d do is use my posting and social media time to get a second job.

Crashy_Time

lisyloo wrote: »

Transactions have been falling due to brexit uncertainty.
Prices have in general been going up nominally (London an exception).

People now have more confidence post election.
There is pent up demand so those who’ve been sensibly saving can now plough on with their purchase.

Do you have any investments or pensions?
How are they doing?
I’m seeing a return of confidence and good double digit returns.

I don’t believe there is any issue for people that can afford to buy.
There will always be people struggling month to month. Sensible rules have been in place for some time so either they’ve made bad decisions or fallen on hard times. That’s sad but it’s going to happen whatever part of the cycle we’re in.
There simply isn’t widespread evidence of distress e.g. increasing levels of bankruptcies and foreclosures.
Unemployment is at record lows.

I think it would be better for people to put a plan in place and take action, like getting a second job for example rather than relying on outside events like the market to fall or for the government to keep a promise. Those who make their owns plans have been far more successful and much more quickly IME in fact many of us are mortgage free now.

We see the same posters on here who for reason won’t just get on and make a plan.
If I was unable the first thing I’d do is use my posting and social media time to get a second job.

Brexit happens in a few days, THEN the real uncertainty begins, the stock market is just being juiced by the Fed (again) and other central banks, plus the fake euphoria over the Trump/China "deal" is pulling the sheep back into the market (most credible commentators are saying that nothing has been signed that was not already more or less happening, and that China are still just playing for time) One of my equity investments (tracker) that I looked at recently was up about 8%, and my pensions have done great since the crash in 2008 - So what! The Fed/central banks can`t keep pumping the markets forever, not without severe economic consequences down the road (we have already gone too far with the QE Forever experiment IMO, and it is hurting banks hence the moves on overdraft and other bank charges that I posted in another link)

IMO a basic mistake you are making is confusing soaring stock markets and higher headline averages for house prices with everything therefore being OK in the property and stock markets, this is not the case IMO, and there was also a recent media piece about how teenagers are no longer interested in "Saturday jobs"...and I guess the average person is also not too bothered about working themselves to death anymore for an overpriced house.....IMO the generation that thought the bungalow they bought for 40k was going to fund their retirement should be fully awake by now to the fact that it isn`t anymore!

lisyloo

Crashy_Time wrote: »

and I guess the average person is also not too bothered about working themselves to death anymore for an overpriced house

What would you suggest the average person does?
Let’s say married with children so not really suitable for HMOs or sofa surfing.

triathlon

Crashy_Time wrote: »

Brexit happens in a few days, THEN the real uncertainty begins, the stock market is just being juiced by the Fed (again) and other central banks, plus the fake euphoria over the Trump/China "deal" is pulling the sheep back into the market (most credible commentators are saying that nothing has been signed that was not already more or less happening, and that China are still just playing for time) One of my equity investments (tracker) that I looked at recently was up about 8%, and my pensions have done great since the crash in 2008 - So what! The Fed/central banks can`t keep pumping the markets forever, not without severe economic consequences down the road (we have already gone too far with the QE Forever experiment IMO, and it is hurting banks hence the moves on overdraft and other bank charges that I posted in another link)

IMO a basic mistake you are making is confusing soaring stock markets and higher headline averages for house prices with everything therefore being OK in the property and stock markets, this is not the case IMO, and there was also a recent media piece about how teenagers are no longer interested in "Saturday jobs"...and I guess the average person is also not too bothered about working themselves to death anymore for an overpriced house.....IMO the generation that thought the bungalow they bought for 40k was going to fund their retirement should be fully awake by now to the fact that it isn`t anymore!

I seriously had tears come down my face with laughter after reading this
Anyway, see you in 2021 after the apocalypse is all over and property prices remain the same... ish

p.s I am turfing my daughter out of bed on Saturday to a paper round before the world implodes

padington

Rich2808 wrote: »

I think house prices are actually more a function of interest rates and money supply.

In Ireland prices collapsed by 50% in 2008 and 2009 - as the banks nearly collapsed and stopped lending money so recklessly. The population of Ireland kept rising.

Same happened in Spain.

Both ended up with an excess of houses. Now banks are lending big time again the prices have shot back up.

Put interest rates back up to pre 2008 levels and end help to buy - and prices would fall in the UK irrespective of population. Won'r happen - but it isn't all about the population. London only reached the same population it had in 1939 a few years ago - and back then you could buy a house for a couple of hundred pounds then!

Well said. You know it’s true because the brexiteers didn’t much try and make the argument that rising population is causing out of reach house prices. They knew the argument could be shot down.

movilogo

Transactions have been falling due to brexit uncertainty.

Or could be as simple as price became too high and buyers simply can't afford anymore. If income does not keep pace with house price rise, there has to be a point when the price elasticity rubber band will snap.