Losing momentum

BTLNEWbie_3

kristianwilliams wrote: »

Only for them then to realise, a house is for life, not just for christmas.

:T

Thought you made a lot of sense, then looked down to see how much debt you have got yourself in.;)

WTF?_2

IveSeenTheLight wrote: »

Come on now bears, get your figures straight, or are you going to argue against experts cause it's not what you want to hear?

Estimates are varying between 30% and 10% nominal drops.

I'm more inclined to lean towards the 30% end of the scale myself. Might be worth taking a pop on the futures if they only predict an 11% fall.

kristianwilliams

BTLNEWbie wrote: »

Thought you made a lot of sense, then looked down to see how much debt you have got yourself in.;)

Guess thats the price I pay to go to Uni, study hard, and get a degree. I dont get grants, and my student loan paid for my fee's. I then had to live, rent a student appartment, eat, study. Had to work night shifts to try and scrape by until it effected my study and had to quit. Fell in love. Decided that life was worth it, and stayed together after we graduated. Had to rent as she lived 100's of miles away. So alas, I am renting, thus paying off my debts will take longer than other who live at home.

:rolleyes:


But thanks for basicly calling me stupid.

m00m00

more momentum today

nationwide announcing they will require min 90% ltv from tomorrow

Dan:_4

m00m00 wrote: »

more momentum today

nationwide announcing they will require min 90% ltv from tomorrow

Not strictly true, they will still do 95% ltv for their 3-year fixed rate deals.
And existing borrowers can still have 95% no matter what.

snoopy78

mr.broderick wrote: »

Anybody else feel that the so called crash is losing a bit of momentum?
Got a feeling the peeps hanging on for the crash might be tempted to buy shortly while there is still a chance to get a good deal. Anybody else agree with these sentiments?

Really? where do you get your information from, I'd say from a statistical point of view it is gaining momentum, this month see's the tipping point most YoY rates are now negative and most analysts seem to be resigned to the fact there will be a crash.

EA are starting to lose jobs, and offices closing down, and whats more mortgage rates are increasing (and amost 50% less approved mortgages). The first signs of recovery will be banks lowering mortgage rates until that happens there is little change that momentum will be lost.

I know a load of people placing there deposits in 3 to 6 month fixed term accounts, me amoungst them, as I don't see anything improving for at least the next 6 month.

lostinrates

IveSeenTheLight wrote: »

This will simply mean that single people will be able to afford 1 or 2 bed flats and people will need to have a double income in order to afford anything larger.

The days of the single breadwinner are over. The Long Term Average for 3 to 4 bed homes will need to be double income, not what a lot of FTBers expect

Yes, this seems a fair evaluation. The problem is, among my circle at least, a lot of us would like to be first time buyers because of families on the way/wanting to be on the way, thereby meaning one partner's work commitment will have to be less and they are looking to buy something bigger than one bed! Its a difficult situation and I'm not sure what the answer is.

To answer Mr B's question, IF we could afford something we could stay in for 5 yrs ish and start a family, regardless of the crash we would probably buy now, but we can't. Our personal momentu is forced not by desire but by the economical situation. We are amoung those who probably would still get a largish mortgage offer (DH good income, with contracted increases, large savings for deposite and good credit record etc, etc,etc) but we are both unwilling to put our selves in a scary situation in a house that we'd outgrow very, very quickly when such risk is abounding. In the rising market we would have bought for a year-3 yrs suitabilty, even in a stable one, but I think we'd be mad to consider that right now.

beingjdc

!!!!!!? wrote: »

What's the current average price figure - something like 200k isn't it?

EDIT: Just saw - 178k (from the BBC report on the YOY negative.

Hmm, that works out at only an 11% drop. Not really that much, I reckon they've underestimated seriously.

The futures are based on Halifax, not Nationwide. Halifax average is currently £195k, peaked at 200k. So that's more like a just over 20% fall, all in.

mr.broderick

snoopy78 wrote: »

Really? where do you get your information from, I'd say from a statistical point of view it is gaining momentum, this month see's the tipping point most YoY rates are now negative and most analysts seem to be resigned to the fact there will be a crash.

EA are starting to lose jobs, and offices closing down, and whats more mortgage rates are increasing (and amost 50% less approved mortgages). The first signs of recovery will be banks lowering mortgage rates until that happens there is little change that momentum will be lost.

I know a load of people placing there deposits in 3 to 6 month fixed term accounts, me amoungst them, as I don't see anything improving for at least the next 6 month.

It was purely down to the fact that carolt !!!!!!ed off as she couldn't be bothered anymore and !!!!!! was only starting 5 threads a day instead of 10. This is purely the only evidence i based my post on ...

PasturesNew

mr.broderick wrote: »

It was purely down to the fact that carolt !!!!!!ed off as she couldn't be bothered anymore and !!!!!! was only starting 5 threads a day instead of 10. This is purely the only evidence i based my post on ...

awww ... you got lonely *huggles*