Why are you lying about the economy then?


You should stick to lying about house prices.

 

I had a full asking price offer rejected today!! Someone else put a cash offer in for above asking price.

Things do seem to be moving quite quickly now, well quicker than a few months ago for sure.

 

It's a funny market ...... the Estate Agents are now ringing me again - they stopped a few weeks ago, a sure sign that buyers are starting to dry up?!

 

With the news that house prices rose this month ( 0.9% accoring to N/wide ) I thought I'd revive this thread, in Pete's absence!

[Pete mode on] Looks like the crash is over then, the sun is out, house prices are rising, and generally things are looking good at last. It would seem that Gordon Brown has masterminded a truly remarkable recovery from the most perilous financial crisis in modern times. A true statesmen if ever there was one. Yesterdays pledge to build 110,000 new homes proves it. I think next years election is in the bag. Another 4 years in opposition for dodgy Dave and pretty boy George[Pete mode off]

God that was awful.

 

Please let this thread die!

 

Wheres the doom merchants now ???


House price rise for the 3rd month out of 4 .

Dead Cat Bounce !!!!!!

More like "Kangaroo on Coke !!!!"

 

Those people who've just bought will be gutted! The world economy is stil utterly screwed. Just because the banks have been getting through bail-out money (ie its unsustainable) doesn't mean we're going to suddenly return to growth.

There is simply no reason for economies like the UK to show significant improvement. You can't base an economy on debt forever.

I guess there are those out there who base their outlook on blind hope, and think a background on rising unemployment and increasing borrowing rates is good for house prices, but it's not.

There are often false dawns in deep recessions/depressions - look at the Great Depression for example.

 

 

Bump

 

It's not the old fashioned 125% Mortgage

 

"Borrowers in these unique circumstances are simply able to transfer part of their existing negative equity with them when they need to move home - the actual value of the negative equity and the loan-to-value will reduce in all circumstances," she said.



I don't really see how the bank can lose, seeing as it's only available to existing customers, who will be downsizing their home.

 

The two schemes are completely different. With NR, you got the mortgage, then up to another 25% to blow on toys.

With NW it's only for existing customers who, for example. are in NE but have to move jobs for work etc.

 

So, anything changed in the Housing Market?

Rightmove thinks prices have increased 0.6% in July ... that's asking prices, of course.

"Property asking prices rose in July marking the fifth monthly rise this year, research showed today.

The average asking price in England and Wales increased by 0.6% to £227,864 in the month to July 12, according to property website Rightmove.

The group said the hike confirmed the housing market had passed the bottom of the downturn and predicted the sector would remain in a "steady state" for the remainder of the year.

July's increase in asking prices follows a 0.4% decline the month before, which had ended a run of four consecutive months of price rises.

Initial asking prices are now up by 6.7% since the beginning of 2009 and Rightmove said there was a 20% recovery in new seller numbers to its highest level so far this year"

Source:- House prices 'up 0.6%' in July - Rightmove » Housing » 24dash.com

 

apparently 80% of statistics are plucked out of thin air

 

No, 81.5% to be precise

 

Four thirds of people cannot do fractions!

 

mmm maths was never my strong point

 

I'm a buyer and there is nothing out there to buy!

Steve

 

It's true .... there is no supply.

I am wanting to buy but there is nothing except the old tat which has been around for 24 months or more!

If the supply improves the prices will start to fall again ...........

 

We are still waiting for the people who we got our house off to find somewhere themselves. As mentioned, not much out there to choose from.

 

the presure will be on to pay nr the asking price for a decent property then?

 

You would have thought so. But this is Scoobynet and they know best!

 

There is certainly more pressure to pay close to the asking price .......... but, and it's a big but, the asking price has to be right for the property - there are still too many over-priced sh1tholes about, which wouldn't get an offer in the good days!

 

I'm very happy renting, this is merely a pause in the carnage IMHO. Most markets do not move in straight lines.

 

Its very good of you to put them up while they find one .!!!
Top Man .

 

Surely the amount of cash that you have now thrown away by renting could have gone towards paying off a few years worth of mortgage payments on a home of your own? I would hate now not to own my own home, regardless of what the markets are doing. If you can afford the repayments and are in it for the long term, whats the problem?

 

A very simplistic viwepoint. Unless you own the house all you're doing is paying the bank rent in term of interest paymants.

Rents are cheaper in general compared to buying by quite a margin now. And paying a mortgage against a falling asset is a lose lose situation. Renting allows the LL to lose his asset.

This is a very good article:

The wishful thinking about house prices smacks of dotcom delusion - Telegraph