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Housepricecrash.co.uk Mentioned In Ian Cowie Telegraph Article Rate Topic: -----

#1 User is offline   koala_bear 

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Posted 04 May 2011 - 09:53 AM

Housepricecrash.co.uk mentioned in Ian Cowie Telegraph article on high LTV nationwide mortgage

Quote

Observers who believe house prices remain over-priced and will fall further when interest rates and unemployment rise – such as housepricecrash.co.uk – may suspect the return of 95pc LTV mortgages could prove a honeytrap for first time buyers; tempting them to pay more today than these properties will fetch next year.


http://blogs.telegra...se-prices-fall/

#2 User is offline   SarahBell 

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Posted 04 May 2011 - 09:56 AM

The irony can't escape someone in the mainsteam press that it's not ok for petrol to keep going up, but it is for house prices...
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#3 User is offline   Wait & See 

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Posted 04 May 2011 - 10:14 AM

View PostSarahBell, on 04 May 2011 - 09:56 AM, said:

The irony can't escape someone in the mainsteam press that it's not ok for petrol to keep going up, but it is for house prices...



It is laughable SarahBell, but this is what we're dealing with in the UK in 2011. Millions of ignorant people who complain about inflation making them pay more for food, holidays, and 4x4 fuel, but are quiet happy to see houseprices inflate at 20% a year.........just as long as they bought when prices were affordable of course.

The attitude is....."F*ck anyone who needs shelter in 2011. Let them pay 3 times what I paid or let them sleep on the street if they can't afford to."


Utterly pathetic and corrupt = 95% of the UK population......it seems. :rolleyes:

This post has been edited by Wait & See: 04 May 2011 - 10:17 AM


#4 User is offline   _w_ 

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Posted 04 May 2011 - 10:29 AM

View Postkoala_bear, on 04 May 2011 - 09:53 AM, said:

Housepricecrash.co.uk mentioned in Ian Cowie Telegraph article on high LTV nationwide mortgage



http://blogs.telegra...se-prices-fall/


There's even a link to the hpc site!

That's rather generous.



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#5 User is offline   General Melchett 

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Posted 04 May 2011 - 10:35 AM

I'm rather disappointed that we got a MSM mention without being called TFHers, anarchists, baby-eaters or somesuch.

Is this place losing it's edge?

Or is the rest of the country moving towards our edge?


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#6 User is offline   goldbug9999 

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Posted 04 May 2011 - 10:40 AM

View Post_w_, on 04 May 2011 - 10:29 AM, said:

There's even a link to the hpc site!

That's rather generous.


It wasn't that long ago that Cowie was writing about how wonderful it was that homeowners had "a unique opportunity to enjoy tax free profits" (not that exact working). What he didn't mention is that the profit is at the expense of other peoples debt.

Cowie is a dyed in the wool homeownerist now pretending (having made his personal profit at the expense of the next generation) that he somehow gets it.

Quote

.. instead of supporting productive industry by extending credit to increase tangible capital investment, the banking system has extended credit mainly (about 80 percent in the United States and most English-speaking countries) to buy real estate and load it down with debt. The result is that rental income is used to pay interest to the banks rather than to pay taxes. This forces governments to tax wages, profits and sales. That increases the cost of living and doing business, on top of the interest charge.

#7 User is offline   arrgee1991 

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Posted 04 May 2011 - 10:50 AM

View PostWait & See, on 04 May 2011 - 10:14 AM, said:

The attitude is....."F*ck anyone who needs shelter in 2011. Let them pay 3 times what I paid or let them sleep on the street if they can't afford to."

Utterly pathetic and corrupt = 95% of the UK population......it seems. :rolleyes:


But if interest rates and unemployment rise won't that happen to many home owners ? That's what a house price crash will mean. The last time in the early nineties, people were getting kicked out of their homes and there were a number of people sleeping rough as a result.

It is puzzling that property has doubled in value in the last ten years, yet shares are at about the same level and wages have only risen moderately. The only thing propping the market up is the low interest rates which are preventing forced sales.

#8 User is offline   _w_ 

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Posted 04 May 2011 - 10:56 AM

View Postgoldbug9999, on 04 May 2011 - 10:40 AM, said:

It wasn't that long ago that Cowie was writing about how wonderful it was that homeowners had "a unique opportunity to enjoy tax free profits" (not that exact working). What he didn't mention is that the profit is at the expense of other peoples debt.

Cowie is a dyed in the wool homeownerist now pretending (having made his personal profit at the expense of the next generation) that he somehow gets it.


Even so, he didn't have to put a link to this site or even mention it.



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#9 User is offline   koala_bear 

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Posted 04 May 2011 - 11:17 AM

View Post_w_, on 04 May 2011 - 10:56 AM, said:

Even so, he didn't have to put a link to this site or even mention it.


Exactly Cowie didn't have to mention or link HPC, it had an article about 2 months ago with the words house price crash in the headline too. He is the closest hpc will get to a friend the the MSM

He is one of the few personal financial journalists to have been writing about it last time round so he knows what is coming. I suspect his kids will be in their 20s and looking to get a home soon so he has a bit of self interest in seeing sensible prices

#10 User is offline   Fishbone Glover 

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Posted 04 May 2011 - 11:48 AM

View PostGeneral Melchett, on 04 May 2011 - 10:35 AM, said:

I'm rather disappointed that we got a MSM mention without being called TFHers, anarchists, baby-eaters or somesuch.

Is this place losing it's edge?

Or is the rest of the country moving towards our edge?

I hate to say it, but I think we're slowly becoming mainstream....! :o
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#11 User is offline   GordonBrownSpentMyFuture 

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Posted 04 May 2011 - 12:00 PM

I do believe that this is the third time this article has been posted and commented on here.

#12 User is offline   koala_bear 

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Posted 04 May 2011 - 12:18 PM

View PostGordonBrownSpentMyFuture, on 04 May 2011 - 12:00 PM, said:

I do believe that this is the third time this article has been posted and commented on here.


It is a new Ian Cowie article from this morning which also refers back to his previous one which got mentioned a few times on HPC - this a new one though.

The link in the quote box is to the previous article (which Ian linked to him self), the link outside to the new article today

This post has been edited by koala_bear: 04 May 2011 - 12:20 PM


#13 User is offline   7 Year Itch 

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Posted 04 May 2011 - 12:21 PM

View Postkoala_bear, on 04 May 2011 - 11:17 AM, said:

Exactly Cowie didn't have to mention or link HPC, it had an article about 2 months ago with the words house price crash in the headline too. He is the closest hpc will get to a friend the the MSM

He is one of the few personal financial journalists to have been writing about it last time round so he knows what is coming. I suspect his kids will be in their 20s and looking to get a home soon so he has a bit of self interest in seeing sensible prices

I first found HPC back in 2006 when it was specifically mentioned in a Edmund "Russ" Conway Daily Telegraph article - http://www.telegraph...t-think-so.html

Although, strangely, my joining date on here now looks to be the day before the article was published, spooky. Maybe I read the print edition first back then.

This post has been edited by daiking: 04 May 2011 - 12:25 PM

 JustYield, on 30 September 2006 - 02:00 PM, said:



 padington, on 02 December 2013 - 08:53 AM, said:

No need to sell up, the next phase of the economics cycle is going to be very positive for anyone that owns property.

All I'm sayings is, don't listen to the property bears people, they are wrong.

#14 User is offline   Realistbear 

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Posted 04 May 2011 - 12:24 PM

Robert Gardner, Nationwide’s chief economist, said: “The price of a typical house fell by 0.2pc in April, which left prices 1.3pc lower than the same period of 2010. The three month on three month measure of house prices, a better measure of the underlying trend, showed a modest rise of 0.6pc.


Bob Gardner is either ignorant or deliberately misleading the public. Houses have not fallen by anything like 1.3% YoY. I am proceeding with a property that was around £289k at peak and being bought for £220k. That is not a fall of 1.3%. And this is typical around here (East Sussex) where house prices are "resilient."

The only resilience I am seeing is VIs attitude toward reality.
CRIMBOCASTS for y/e 2013

1. The Euro will have another bad year and may hit parity with the US$ before the end of the year.
2. The Pound will not move much against the dollar (range 1.47-1.60) but is likely to regain a lot of ground verses the Euro which may not survive. US $ will be a safe bet, especially ST bonds and large caps.
3. Stocks should finish moderately higher than 2012 barring a war with Korea and Iran.
4. Gold will not be flying to the moon (again) and will bitterly disappoint (again) any who got in during the run up in 2011.
5. House prices: Flattish to up single digits overall..
6. Not much in the way of inflation again this year--those who forecast hyperinflation will be proven wrong (again--as in 2011 and 2012)
7. Could see a snap GE after the May elections which will be the worst result EVER for Dave. UKIP continue to make headway and will be number 3 before year end.

#15 User is offline   Pent Up 

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Posted 04 May 2011 - 12:34 PM

View PostRealistbear, on 04 May 2011 - 12:24 PM, said:

Robert Gardner, Nationwide’s chief economist, said: “The price of a typical house fell by 0.2pc in April, which left prices 1.3pc lower than the same period of 2010. The three month on three month measure of house prices, a better measure of the underlying trend, showed a modest rise of 0.6pc.


Bob Gardner is either ignorant or deliberately misleading the public. Houses have not fallen by anything like 1.3% YoY. I am proceeding with a property that was around £289k at peak and being bought for £220k. That is not a fall of 1.3%. And this is typical around here (East Sussex) where house prices are "resilient."

The only resilience I am seeing is VIs attitude toward reality.



What happened to Martin Gaurthaubouree? Maybe he was sacked for being too bearish?

This post has been edited by Pent Up: 04 May 2011 - 12:35 PM

Remember that buying a house is a highly leveraged investment and can result in losses that exceed your initial deposit. Buying a house may not be suitable for everyone, so please ensure that you fully understand the risks involved.


"The time to buy is when blood is running in the streets" Baron Nathan Rothschild

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