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Expert on BBC expert talks of crash and advises first time buyers to wait

brit1234
brit1234 Posts: 5,385 Forumite
in House buying, renting & selling
Hi
Video link below to expert talking about crash, negative equity in 95% mortgages now and best for first time buyers to hold off. Enjoy:

http://news.bbc.co.uk/1/hi/business/7445884.stm
:j
:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

Save our Savers

Comments

  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    I'm surprised by her statement that noone has 'that kind of money' (£30-£40k) as a deposite beause there are a few of us hereaiming or exceding savings of that kind of amount :)

    Honestly, I thought by far the majority of my generation were saving away but are we really the od ones out?
  • RichardDJ
    RichardDJ Posts: 67 Forumite
    Thanks for the link, I missed that story yesterday. There are people lurking around with that kind of deposit, but their not interested in spending that sort money. Hell, if they're astute enough to have that sort of savings then they have the financial intellect to know that the stand off between buyers n sellers will improve the deals in the next 18 months
    Statistics are like a lampost to a drunken man...more for leaning on than for illumination
    .
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I love these experts... where were they 2 years ago when I realised things weren't looking good for the next few years?

    Maybe they were advising people who'd just watched Krusty N Phil
  • mr.broderick
    mr.broderick Posts: 3,778 Forumite
    1,000 Posts Combo Breaker
    brit1234 wrote: »
    Hi
    Video link below to expert talking about crash, negative equity in 95% mortgages now and best for first time buyers to hold off. Enjoy:

    http://news.bbc.co.uk/1/hi/business/7445884.stm
    :j

    I didn't really enjoy that.
  • Snooze
    Snooze Posts: 2,041 Forumite
    1,000 Posts Combo Breaker
    brit1234 wrote: »
    Hi
    Video link below to expert talking about crash, negative equity in 95% mortgages now and best for first time buyers to hold off. Enjoy:

    http://news.bbc.co.uk/1/hi/business/7445884.stm
    :j

    How annoying is that Merryn woman? :mad:

    And he's just as bad.

    Made my skin crawl just watching it. :rolleyes:

    Rob
  • SquatNow
    SquatNow Posts: 2,285 Forumite
    PasturesNew wrote: »
    I love these experts... where were they 2 years ago when I realised things weren't looking good for the next few years?

    Busy selling their BTL portfolio to hapless FTB stupid enough to take their advice.
    Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.
  • LittleMissAspie
    LittleMissAspie Posts: 2,130 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    lostinrates wrote: »
    I'm surprised by her statement that noone has 'that kind of money' (£30-£40k) as a deposite beause there are a few of us hereaiming or exceding savings of that kind of amount :)

    Honestly, I thought by far the majority of my generation were saving away but are we really the od ones out?
    Savers are the odd ones out yes. But 30-40k is a hell of a lot of money to save over and above living costs. My boyfriend and I earn a decent amount between us and are saving a lot of our spare money, but we're not going to manage that much.
  • SquatNow
    SquatNow Posts: 2,285 Forumite
    LittleMissAspie wrote: »
    Savers are the odd ones out yes. But 30-40k is a hell of a lot of money to save over and above living costs. My boyfriend and I earn a decent amount between us and are saving a lot of our spare money, but we're not going to manage that much.

    The people with 30-40k in cash are the ones planning to buy AFTER the crash.
    Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.
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