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Housing crash unlikely - Boom
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Originally posted by BlasterBates View Post
You are of course writing and spinning utter tosh. Shameful for the fact that this is a "serious" paper and shocking that you are getting paid for it. Wake up, read, listen and learn. May I suggest you visit forums.contractoruk.com and enlighten yourself at no cost.
Posted by Alex the Warrior on March 24, 2008 4:52 PMComment
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"Poppycock from ninnyhammer. I am quite appalled. The writer should be relegated to feature articles for 'My Pony' magazine."
The guy's obviously just talking up the market for his own, or his newspaper's reasons.
There has been nothing holding up the UK housing market in the last few years other than the expectation of further gains. As soon as the numpies in the street realise that there aren't going to be those further gains, prices will fall back to the level justified by other factors, which is about 30% off the current value.
timComment
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Originally posted by tim123 View Postwhich is about 30% off the current value.Comment
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I've calculated that if 3 was a reasonable multiple of house prices to income when interest rates were at 12%, then a multiple of 4.9 leads to exactly the same repayments on a 100% repayment loan over 25 years when interest rates are at 6%. So the graph on house price crash web site that shows housing multiples going through the roof is misleading.Comment
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Originally posted by tim123 View PostAnd
"Poppycock from ninnyhammer. I am quite appalled. The writer should be relegated to feature articles for 'My Pony' magazine."
The guy's obviously just talking up the market for his own, or his newspaper's reasons.
There has been nothing holding up the UK housing market in the last few years other than the expectation of further gains. As soon as the numpies in the street realise that there aren't going to be those further gains, prices will fall back to the level justified by other factors, which is about 30% off the current value.
timComment
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Originally posted by Mailman_1 View PostThe only benefactors are downsizers and investors.
beneficiariesComment
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Originally posted by Mailman_1 View PostWhat about the fact that people need somewhere to live and home ownership is seen as the norm in this country? Gains in house prices mean nothing to people with 1 house as if they sell, they need to buy another. The only benefactors are downsizers and investors.
But if you sell your house put in Euro valued stocks, for example, and wait a while, you just might be better off.
For example:
Sell your house for £400,000, put in stocks. Now stocks are reasonably priced at the moment as suggested by the chief Economist of Deutsche Bank. So in three years at 10% you would have £550,000. House however drops by 20%, could be worse 30%.
The difference in three years the difference amounts to about £250,000. That's a lot of dosh.I'm alright JackComment
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