As a 'greedy buy to let investor' I totally agree with you! They should index link and backdate stamp duty at the very least.

 

You do talk some sh1te dave..... when in this countries history has a house price not risen year in year out......... NEVER........ or do you know something we don't in your crystal ball????? ........... and I very much doubt that..........

Some of your comments are appalling and so derogatory towards other peoples way of life and freedom of choice, and it is so plain to see that you are definately one of President Blair's boys...... DO AS I SAY OR ELSE............. and if you don't do as I say, I'll shaft you any way I can....... You still need to take your blinkers off and wake up to the real world!!!!!!!!

 

The 'others' being who, exactly??

Oh, I see - the bunch of corrupt clowns called the TORY party??

No thanks, I have lived through what they can do ............. and, believe me, like it or not, THIS team is BY FAR better!! (yes, thats how bad it was!!!)

Pete

 

Dave, that fact that we discuss these issues here doesn’t mean we don’t get on with it!!!

I’m fantastically ‘lucky’ as I ‘made’ £70k in two years on my home and something similar on my buy to let (this is due to being born enough years before you to make that possible; nothing clever...). So, that’s ME sorted and OK when I realise these gains and buy a mud hut with a Rolls outside , but that screws people like you something rotten, and I actually care about that enough to get knocked around a bit here!!!

Maybe I should just shrug it off and join New Labour mentioning market economics as I wave the red flag

D

 

And you know what effect THAT would have??

NOTHING!!

If 1st Time Buyers can afford £x for a property it doesn't matter one single jot how it is carved up - the price WILL STILL be £x!!!

Personally, the government may as well step it and profit from property prices (they are NOT driving prices up, THAT is done by the market - and the market alone!)

As an example, if they made Stamp Duty 50% (good move in my eyes) then the house prices would have to fall by 50% to compensate (or no-one would buy!) ........... it works in reverse too, reduce Stamp Duty and house prises RISE!!

Pete

 

Errrrm, from 1989 to 1995 my home value FELL 40%!!!

So there we go ..... the advantages of being as old as I am, I have lived through EVERYTHING and know whats about to happen next!

Pete

 

Cool - can you let me know what savings account you are using to keep up with 175% increase I have seen on my property over the last 10 years. And that's in the Midlands, not in Surrey or such like.

In reality the longer you leave it, the worse it will get as salaries aren't increasing at anything like that rate either.

 

Don't do it!!!!!!!!!!!!!!!!!!!.................... you'd never be able to live with yourself........

 

The simple FACT remains, mortages are linked to salaries .....

House prices will drop if the salaries cannot fund them, if pay CAN fund them then they will remain static ............ if they lag behind salaries they will increase ...

Its not rocket science and its NOT Labours fault!! (other than making a wealthy population!)

Pete

 

Robuk

dont think I need to answer your question since PSL answered it for me when have house prices EVER been this high and kept rising?

 

thats not serious is it?

the fact that they are higher now than ever before is no guide to how or when they will drop. Unless you expect house prices to revert back to their 1960's values the point of any increase will always exceed previous values.

its like saying when have humans ever been this clever and kept on inventing new stuff!

 

OK Im sencing some sarcasm here 175% increase somes some good rise..... Im not saying your gonna get owt like that but at least saving is a start.

I agree with the last sentance to a certain extent but some people have no choice to leave it cause they simply cant afford to get on the ladder, even at the lower end of the spectrum.

And for those that think Im a Blair follower your far from right so please dont make a judgement on me like that thanks.... Im just giving another angle of the debate. I aint on anyones side. believe me Id prefer houses to be much cheaper than they are, I aint exactly been on the ladder long and Id be happier with a cheaper morgage rather than the 90k debt I have.......

 

As has been mentioned, this is totally incorrect. History shows us that there's been a number of housing booms in the past, and EVERY TIME they have ended in bust, so a few years of price falls after the boom. We have just experienced the biggest housing boom in history, so you can hazard a guess at what might come next Im sure.

 

But you can now get lent many times more than your salary than you could 20 years ago and you can also borrow it over a longer period.

House prices have levelled out, but I don't see a significant drop anytime soon.

 

- 4% stamp duty on properties over £250,000 introduced in 2002.
- House prices go through the roof 2002-2004.

You are damn right Pete, it doesn't take a rocket scientist (even one with a slide rule!)

 

Not at all, purchased a 2 bed semi in Nov 1994 for £38K in Loughborough, sold it just before Xmas last year for £118K. I rounded the figures and approximated the increase above, in reality is was more than that.

That's the Midlands, I suspect increases were (are) much more in the South. Once you are on the ladder it matters less, if prices are going up, in general they are all going up, so your house goes up as well. The issue is getting on the ladder and I am so glad I bought back then otherwise it would be a struggle now and there is no way we would be living in the house we have just bought.

 

Unfortunately.................... yes they will. Any stagnation or deflation in the housing market will be short lived and house prices will continue to rise as they have historically at about 3-4% per year.

Take any period, 10, 20, 30 years and you will find that even if you take out "boom" anomolies, on average house prices have still risen substantially. The UK housing market tends to be made up of steady rises interspersed with periods of rapid inflation followed by a short period of downward 'adjustment' in areas where prices have risen too much (usually the south east but anywhere south of Sheffield is at higher risk than the north where the booms are normally followed by stagnation rather than deflation.) Also... if memory serves these anomolies occur approximately every 7 years or so and are driven by global economic factors too complex and beyond my understanding to go into..

Paul

 

Have to disagree with you there Pete... Mortgages are in fact NOT always linked to salaries! Unfortunately in the "uber competitive" world of lending money there appeared ways to "remove" salary from the equation legitimately. Salary and lending policy once upon a time created a natural cap to house price booms, unfortunately that cap was removed some years ago allowing far more upward movement than has been seen historically.

Paul

 

Totally right, I forget the exact figures, but on average over the last 50 odd years houses have seen above average inflation average price increases. If house prices crashed by 40% over the next two years (which wouldnt be surprising), then the AVERAGE increase over the last 10 years would still be something like 5-6% per year - still a big (more than inflation) increase.

 

England is a ****hole now. Beyond the point of repair. Some areas mainmtain the nice "Englishness" but on the whole its a dull, drab, mucky, ****ty dump. Melting pot for scummy immigrants that offer nothing to society except to simply drain it.

 

Great comment, well informed. Gets acroos your political ethos and lets everyone know where you stand. Well done senior.

 

I think everybody knows where I stand already.

Sometimes being blunts cuts better.

So many people think it's great here - obviously not very well travelled individuals.

 

*Yawn*

 

Indeed. lol.

If it weren't for Senior_AP and the reply button you'd never post.....whoever you are.

 

Ill stop replying to you when you change the record.

 

....but that means you'll never post.

 

Scoobynet stalker syndrome

 

I post and you can guaran-damn-tee "D_A_S" will reply within minutes. I reckon he/she has a little alert that sends an SMS when I post. PMSL

 

whats it matter to you if he has an opinion that the country is sh!te? some people just wanna post for the sake of it.

 

Fortunately my stalker is less reliable than yours! Although yours is less abusive!