Originally posted by cosmic
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State of the UK housing market - Doom level: ATW raises eyebrow
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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.Comment
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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.Comment
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Originally posted by Martin@AS Financial View PostVery 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.
So basically they will lend to the moon, they cannot lose.Comment
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Originally posted by Martin@AS Financial View PostSome 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.
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."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Old Greg View PostNorthern Rock and Anglo Irish sure got that wrong.
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)Comment
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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.Comment
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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.Comment
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Is era of lowest-ever average fixed rates about to end?
Interesting report from Mortgage Strategy:
Is era of lowest-ever average fixed rates about to end? - Mortgage StrategyComment
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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.Taking a break from contractingComment
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