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Why Are The Goverment Telling People To Buy When They Know1

well the leak is out and the goverment has admitted that house prices are going to fall AT THE BEST 5 to 10%.
If this is the case why are they not telling people as some people will be losing tens of thousands of pounds and they know it.
so they are prepared for people to go into negative equity straight away.
I find that criminal....

link
http://news.bbc.co.uk/1/hi/uk_politics/7398244.stm
link
It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
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Comments

  • oldMcDonald
    oldMcDonald Posts: 1,945 Forumite
    I think that they are hoping to talk the market up and put some confidence back in. There is a general election coming up and the last thing they need is a recession and house price crash.

    What a major c*ck up today with those notes on show to all! Why on earth did she not use an envelope or folder?
  • dean_ham
    dean_ham Posts: 277 Forumite
    Thing is though prices are over inflated by 30% easy.

    The country needs a HPC to get it back to reasonable levels.

    Yes alot of people will be affected but not my problem when people go buying houses 100-125% LTV at 6-8 times their annual salary.
  • pinkshoes
    pinkshoes Posts: 20,577 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    How can you put a price on the non-physical aspects (security etc...) of owning your own home?

    So long as you can afford the payments, and are planning to stay there for long time, then who gives a monkeys if it drops in price??

    If I'd stayed in my last rented place, I would have been forced to move as the owner moved abroad and sold up, plus after 10 years renting, I hated it with a passion. I'd rather risk losing 20% of the "value" of my home than have stayed in rented accomodation.

    It's nice being able to stick a picture hook in the wall without having a landlord charging me £50 from my deposit to have it filled in and the wall repainted.
    Should've = Should HAVE (not 'of')
    Would've = Would HAVE (not 'of')

    No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
  • dean_ham
    dean_ham Posts: 277 Forumite
    pinkshoes wrote: »
    How can you put a price on the non-physical aspects (security etc...) of owning your own home?

    So long as you can afford the payments, and are planning to stay there for long time, then who gives a monkeys if it drops in price??

    If I'd stayed in my last rented place, I would have been forced to move as the owner moved abroad and sold up, plus after 10 years renting, I hated it with a passion. I'd rather risk losing 20% of the "value" of my home than have stayed in rented accomodation.

    It's nice being able to stick a picture hook in the wall without having a landlord charging me £50 from my deposit to have it filled in and the wall repainted.

    I can see what your saying and yes your right....

    I can certainly put a price on my security of my home and so should everyone else. YOU MUST BE ABLE TO AFFORD IT! Whats the point of getting a mortgage 6-8 time annual salary. Which is what is happening to many FTB's atm. By the time you pay the mortgage and the bills to run the house your left with a few quid at the end of the month.
    Dont know about you but i want a life aswell as live in a home.
  • RHemmings
    RHemmings Posts: 4,894 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    pinkshoes wrote: »
    How can you put a price on the non-physical aspects (security etc...) of owning your own home?

    So long as you can afford the payments, and are planning to stay there for long time, then who gives a monkeys if it drops in price??

    If I'd stayed in my last rented place, I would have been forced to move as the owner moved abroad and sold up, plus after 10 years renting, I hated it with a passion. I'd rather risk losing 20% of the "value" of my home than have stayed in rented accomodation.

    It's nice being able to stick a picture hook in the wall without having a landlord charging me £50 from my deposit to have it filled in and the wall repainted.

    If house prices fall by 5-10% this year, that's going to cost you more than £50.

    And there isn't much security for people who go into negative equity and then can't afford the SVR rates.
  • clobber_2
    clobber_2 Posts: 472 Forumite
    There's no security in buying a house you can't afford.
  • Markyt
    Markyt Posts: 11,864 Forumite
    Why on earth did she not use an envelope or folder?

    She's just taken out a mortgage on a new build flat in London and couldn't afford a folder.
  • oldMcDonald
    oldMcDonald Posts: 1,945 Forumite
    Markyt wrote: »
    She's just taken out a mortgage on a new build flat in London and couldn't afford a folder.


    :D:D:D:D:D

    What a crap MP - she should know to stick it on the expenses!
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    No-one is suggesting you buy a house that you can't afford.
  • RHemmings
    RHemmings Posts: 4,894 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    geoffky wrote: »
    well the leak is out and the goverment has admitted that house prices are going to fall AT THE BEST 5 to 10%.
    If this is the case why are they not telling people as some people will be losing tens of thousands of pounds and they know it.
    so they are prepared for people to go into negative equity straight away.
    I find that criminal....

    link
    http://news.bbc.co.uk/1/hi/uk_politics/7398244.stm
    link

    Because the government doesn't have a flippin' clue what it should do. It's up bodily waste creek in a barbed wire canoe.
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