rate cut and the housing market ...

MidTwentySomthing

Dylanwing wrote: »

Why buy? The social housing stock was all sold. Private renting is a joke in the UK, cowboy landlords, no security of tenure, no pets, no kids, no DIY, no painting etc. That's not a home. Raising interest rates means repossessions, homelessness, families splitting, drain on benefits, social consequences, and general misery. Surely avoiding that is worth losing a % or two on your savings?

Couldn't care less anymore.

I didn't see these "unfortunate" homeowners giving any thought to me and my generation when they were ever pricing us out the market. As a consequence I know have nothing to lose.

They did alright jack! sod everyone else.

Now that the shoe is on the other foot, and I have nothing to lose! I'm alright jack! Sod em all.

guppy

hgllgh wrote: »

so the spineless bafoons in the BOE have played their cards and gambled. What affect do you think this will have onthe housing market?

My barometer of the City's view of the housing market, Barratt Home's share price, fell a further 5% on the day of the cut.

Its already haemorraged 50% of its value so far this year.

Make of that what you will

nollag2006

guppy wrote: »

My barometer of the City's view of the housing market, Barratt Home's share price, fell a further 5% on the day of the cut.

... and it rebounded 4.13% today.

Make of that what you will

:rotfl:

m00m00

why the laugh, it still means it's dropped almost 50% over the year.

a housing slump doesn't happen in one day, it happens over time, and only a fool would suggest it's not happening now, rate cut or not.

This isn't 2005's rate cut "it's different this time".

guppy

nollag2006 wrote: »

... and it rebounded 4.13% today.

Make of that what you will

:rotfl:

My point was the rate change appears to have made no difference...I'm no financial whiz though, so may be missing something

Most telling is, they took seven years of HPI to reach January's price, and less than 12 months since then to lose half their value...looks ominous to me...

Dylanwing

I didn't see these "unfortunate" homeowners giving any thought to me and my generation when they were ever pricing us out the market.

I understand your frustration, but perhaps you should be looking more at the BTL cowboys (But not George, he's nice), second/ third home buyers and The Mad Woman who distorted the market by selling off Council Houses.

dunnomate

hehehehe - aren't BMV'ers distorting the market as well ???

cheers

dunnomate

codger

Dylanwing wrote: »

and The Mad Woman who distorted the market by selling off Council Houses.

It was funny -- or, well, perhaps not so funny -- the way the very phrase "council houses" was seized upon by Thatcher and her half-wit supporters as a pretty good way of buying votes in urban, Labour-held areas.

What the Thatcherites never understood was that social housing does not and never did equate exclusively to "urban housing".

Here in the countryside where we live, there were no Labour seats to be won because there were no urban pools of social housing. Instead, there were hundreds of Council houses, dotted around villages, overlooking fields, flanking farms, a dozen here, a couple of dozen there, a group of four there, maybe even just the odd pair.

Thanks to Thatcher, they were the first to go: we knew of rural-based estate agents actually knocking on the doors of rural council house renters, urging them to take up the option to buy so as to sell after three years at "astronomical profits".

Well, it's all long ago and far away now. But the tragedy endures: the Council houses that would once have accommodated the younger generation of a village, of a parish, of a hamlet, have all gone. The group of four (four, mark you) that I regularly drove past and which met the accommodation needs of four families is now one single white-washed property, large, tasteless, empty for half the year, and tagged at £1 million plus.

Dylanwing's remark about "The Mad Woman" is 110% accurate.

How sad though, that so many, many, many people in the UK were either too thick, or too venal, to do anything about halting the onward march of a self-serving political ideology that, quite literally, tore the heart out of the countryside in which I grew up.

dannyboycey

codger wrote: »

Thatcher

I thought swear words were supposed to be filtered out!