State of the UK housing market - Doom level: ATW raises eyebrow State of the UK housing market - Doom level: ATW raises eyebrow - Page 3
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  1. #21

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    Quote Originally Posted by cosmic View Post
    The banks haven't got it wrong. They all knew what was going on and knew the gov would bail them out giving them more money.

    Had a friend work in a bank (halifax) they have an account and he said it's value was 99999999 and never goes up or down meaning it's infinate amount. So saying the go bankrupt is total b.s. as they make money through dept because that is how money is made into existence.
    Northern Rock and Anglo Irish sure got that wrong.
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  2. #22

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    House prices are irrelevant. Like leased cars it's all down to affordability.

    In the end we're all renting off the government. They bail out the banks who offer the loans that pays for property that never gets paid back in full. No need for inter-generational mortgages, we've already got perpetual debt where they'll increase the interest rates slowly to keep all the suckers caught in the trap.

    As humans only live for a relatively short time it makes perfect sense to lease/rent rather than own. Can't take it with you and inheritance is for the rich only.

    Life is a game, better know the rules.
    Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

  3. #23

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    Some good points in this thread.

    My opinion is that banks generally tend to be very aware of what is predicted to happen over the next few months. This is because in the event of a repossession, they have to be in a position where they are able to get their money back.

    Very soon after the run on Northern Rock, lenders pulled the higher loan to value mortgages and increased the deposits needed on new build homes. So far, banks still have an appetite to lend and at historically low rates.

  4. #24

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    Quote Originally Posted by Martin@AS Financial View Post
    Very soon after the run on Northern Rock, lenders pulled the higher loan to value mortgages and increased the deposits needed on new build homes. So far, banks still have an appetite to lend and at historically low rates.
    Probably because last time they had a big bailout and loose monetary policy. If it goes tits up again, they will get a big bail-in and loose monetary policy.

    So basically they will lend to the moon, they cannot lose.
    I have left CUK...please do not expect any replies to threads or PMs...

  5. #25

    More fingers than teeth

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    Quote Originally Posted by Martin@AS Financial View Post
    Some good points in this thread.

    My opinion is that banks generally tend to be very aware of what is predicted to happen over the next few months. This is because in the event of a repossession, they have to be in a position where they are able to get their money back.
    Their money? It was never their money in the first place. In fact I'd argue they never had the deposits to back up the loans they were handing out, hence the collapse. They're in the business of creating promissory notes known as a loan contract to create new money for already existing assets, such as housing, which is why the cost of those assets has increased so much. This outcome was inevitable ever since the Tories deregulated finance.

    Even if house prices collapse banks still own them from money they created out of thin air by pressing a button on a computer screen. And best part is they'll continue to charge you money for a debt you believe you owe.
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

  6. #26

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    Quote Originally Posted by Old Greg View Post
    Northern Rock and Anglo Irish sure got that wrong.
    No they just lost the musical chairs game. All the banks new what they were sitting on (toxic assets). They got the short string and lost so for bigger banks the competition was wiped out. Several mergers happened which made smaller big banks massive and a nice healthy bonus from the public. Now those toxic assets were sold off to American companies who are milking it off high interest mortgages not allowing them to move on.

    It's all a high stake game and you just need to play your cards right buy at right time at the right price. Right now properties are going down. The trend has been for the past 2 months(in my area)

  7. #27

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    People will give up almost anything except their houses. Unless unemployment increases alot then there won't be an extra supply.

  8. #28

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    You all should be worried that last time I bought a house was at the height of the market just before the crash. I'm just buying a house now. So, it's nearly 100% correct to say a crash will happen any minute now.

  9. #29

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    Default Is era of lowest-ever average fixed rates about to end?


  10. #30

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    As long as house prices stagnate, the number of houses on the market reduces thus keeping them up. I see no reason for a huge crash, because people simply wont sell their houses and will just stay where they are instead.

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