House prices 'unchanged in May'

mr.broderick

ler01kjh wrote: »

Nasty moneysaver.

Sentiment towards EAs agreed, but we should all be capable of being cordial. Good luck.

Nasty, heavens where you from noddy land?

mr.broderick

annie123 wrote: »

I won't take that comment personally!
I have been in the business since 1982 so I have seen it all before.

Ea's really make me laugh.
In fact i'm not even going to go there can't be a.rsed

annie123

mr.broderick wrote: »

Take it how you want, you help ramp prices up so deal with it.

I have no control over rising prices or falling prices.

People en mass follow each other and that is what changes prices up or down.


When prices go up everyone buys, even borrowing more than the property is on the market at ( Mortgages more than 100% should be illegal) when the price drops no one wants to buy.

The housing market is having a sale at the moment which will go on for at least another year, good job the high street retailers don't have this problem when they have a sale!!

Prices were driven up by stupid amounts Jan to May last year by ever increasing number of people wanting fewer and fewer properties coming onto the market.
Now the opposite is happening greater choice of properties at lower prices and no one wants them. Bit like cheaper strawberries now in the shops because there are loads of them at present, but if you want them at Xmas you will pay a lot more because there aren't many.

Also mortgages are expensive now compared to the low rates of recent years and I have no power over that either.

dander

I do agree with sympatex, in my area too (herts) actual sale prices haven't really fallen yet - at the moment it's the asking prices that are coming back down from unrealistic levels which gives the impression of price falls.

The majority of people round here are still trying to sell at prices that have never been achieved or achievable. They've been given unrealistic valuations. Of course, I say 'trying to sell' because buyers are no longer falling for it!

tradetime

ler01kjh wrote: »

I bet against it

Well good luck with that, a bold stance sitting in a country that sports the third largest current account deficit in the world, and personal debt in excess of £1 thrillion, where a significant amount of the economy is supported by financial services, real estate, and construction. With one major financial institution indebted to the tax payer to the tune of £28 billion+ a debt for which repayment plans will be derailed should the decline in the property market exceed 5% this year.

In 2004 concerns were expressed about the levels of personal debt when it first topped the £1 trillion figure. when the then cheif economist of the BOE Mr Bean (aptly named perhaps) said
The Bank of England's chief economist Charles Bean yesterday played down concern about growing debt.

The £1 trillion figure, he said, did not mean UK households were sitting on a "time-bomb", since an increase in borrowing had been matched by an increase in financial assets.

Hilary Cook, investment strategy director at Barclays Stockbrokers, agreed with Mr Bean's comments.

She said the £1 trillion landmark was wasn't as "scary" as it looked, because the value of people's assets have risen by around 60% in real terms during the last nine years.

"We are borrowing against assets which have gone up massively, interest rates are still relatively low and we all have jobs," she said.

But workers on the debt frontline remain worried about the personal cost of taking on too much debt.

In 2005 the topic was again revisted when Conservative peer Lord Griffiths of Fforestfach chaired a group that looked into risks associated with personal debt levels in the UK.
In its report, the commission said that "the sheer scale of consumer debt has made millions of households extremely vulnerable to shocks in the economy, both from fiscal mismanagement and external factors such as oil price rises, acts of terrorism and wars".

"A downturn in the economy would create serious economic and social problems for the 15 million people who struggle with debt repayments."

"Debt is a time bomb which could be triggered by any number of shocks to the economy."
Well now that we have the rising oil, I'd suggest somewhat beyond Lord Griffiths' wildest nightmares, along with most other commodities, and those assets we all borrowed against depreciating, I wonder how "scary" Ms Cook thinks that debt burden is now, even before we start increasin unemployment.

Ian_Griffiths_Halifax

tradetime wrote: »

With one major financial institution indebted to the tax payer to the tune of £28 billion+ a debt for which repayment plans will be derailed should the decline in the property market exceed 5% this year.

I understand that the Northern Rock debt is on track to be repaid early and may even be almost cleared already.

Markyt

Ian_Griffiths_Halifax wrote: »

I understand that the Northern Rock debt is on track to be repaid early and may even be almost cleared already.

It is certainly well ahead of schedule.

tradetime

Ian_Griffiths_Halifax wrote: »

I understand that the Northern Rock debt is on track to be repaid early and may even be almost cleared already.

It is true at the current time repayment is allegedly ahead of schedule, but you might consider Ron Sandler's statement to the Treasury Select Committee last month before popping the champagne corks.

'If house prices were to decline 5%, 10% or 15%, that would seriously impede fulfilling the plan,' he said. 'I can't give you a single figure on which it would fall over.'

ruggedtoast

mr.broderick wrote: »

Ea's really make me laugh.
In fact i'm not even going to go there can't be a.rsed

Has anyone noticed a change of tone in old Brodders of late? A certain loss of self control in debate. A slight twitching around the eye. The merest hint of desperation perhaps?

Oh for those heady days when ole Brodders and his boy wonder Pickles could stride into a thread and deride everyone who was holding on to buy as ignorant, timid, dreamers, stranded on the shore of loserdom as the great ocean liner HMS House Price Inflation sailed into the pecuniary horizon, the decks crammed with gloating btl landlords and flat flippers; quaffing champagne, waving bunting and generally congratulating one another as to how jolly clever they all were to saddle themselves with such enormous mortgages that their future enormous wealth was absolutely guaranteed to inflate away to nothing in mere weeks.

And for a time it looked like they might be right, as those left on the pier shuffled awkwardly watching their dreams of having a modest little family home recede far into the distance, swept away as the engines of greed and ignorance callously calculated how much rent such and such a family would have wrung out of them for the pleasure of living in some rat-box in Thamesmead, while some idle know nothing bum with a scrap of paper from Bradford and Bingley sat on their behinds wondering when to evict them to best "realise their investment."

But all along the oblivious passengers, deafened by their own party of self congratulation, failed to notice the sounds of the pumps screaming, the deck hands casting away in life rafts, and the captain shouting on emergency frequencies, as sure enough HMS House Price Inflation, and all who sail in her, begin to sink, like a stone.

And that lot.

Are absolutely stuffed.

jamescredmond

ruggedtoast wrote: »

Has anyone noticed a change of tone in old Brodders of late? A certain loss of self control in debate. A slight twitching around the eye. The merest hint of desperation perhaps?

Oh for those heady days when ole Brodders and his boy wonder Pickles could stride into a thread and deride everyone who was holding on to buy as ignorant, timid, dreamers, stranded on the shore of loserdom as the great ocean liner HMS House Price Inflation sailed into the pecuniary horizon, the decks crammed with gloating btl landlords and flat flippers; quaffing champagne, waving bunting and generally congratulating one another as to how jolly clever they all were to saddle themselves with such enormous mortgages that their future enormous wealth was absolutely guaranteed to inflate away to nothing in mere weeks.

And for a time it looked like they might be right, as those left on the pier shuffled awkwardly watching their dreams of having a modest little family home recede far into the distance, swept away as the engines of greed and ignorance callously calculated how much rent such and such a family would have wrung out of them for the pleasure of living in some rat-box in Thamesmead, while some idle know nothing bum with a scrap of paper from Bradford and Bingley sat on their behinds wondering when to evict them to best "realise their investment."

But all along the oblivious passengers, deafened by their own party of self congratulation, failed to notice the sounds of the pumps screaming, the deck hands casting away in life rafts, and the captain shouting on emergency frequencies, as sure enough HMS House Price Inflation, and all who sail in her, begin to sink, like a stone.

And that lot.

Are absolutely stuffed.

you wax lyrical even better than me!

a master of maritime metaphor.

I like the cut of your jib, sir.