Saturday, Feb 17, 2007
Are they trying to sell newspapers or has the editor just sold their BTL's
Daily Express: MORTGAGE COSTS ARE CRIPPLING
What's going on, this rag said that average house prices would be £1trillion next year, now they're saying that people can't afford the mortgage on a meagre £500K house.
Posted by bryan @ 09:48 PM (141 views) Add Comment
8 Comments
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1. japanese uncle said...
Certainly the numbers quoted in this article are probably the truest to the picture. But the question is why these hitherto hidden reasonably accurate information was suddenly disclosed? Seems like someone with 'authority' has given the cue. We may expect a flood of information like this for the next few months to come, triggering the full-scale crash, possibly.
2. enuii said...
Its possibly the green light from the media owners to turn on NuLabour and especially Gordon Brown now they have dug a big enough hole to bury them both in.
3. paolo88888 said...
"rising prices are felt by many to be positive"
They still don't get it do they. In general falling prices are best so that we have more money for other things. I use simple words, hoping that the experts may be able to understand.
4. Micthemike said...
of course they dont get it obviously high house prices means less disposable income easy to understand really, i wonder if new labour will ever get in touch with reality and realise the immense damage they are inflicting on ordinary people by allowing house prices to become a speculators paradise.
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6. geed said...
Wow! An about turn by at least one portion of the mainstream media. How novel reading about the real world for once instead of some hyped up cr@p on the uber bubble that is the UK property market, will this be read by the minions? Will it make them stop and think?
7. Rimmer said...
paolo88888
Spot on, house prices in the UK are one massive conn and the only people that really gain are estate agents and the already rich.
As for people struggling with huge mortgages i would love to show sympathy but i really cant, even if IRs go to 7% ( which i think they will ) they are not historically high just higher than they have been, i have said to many if you cant budget for 10% IRs then dont do it.
Why is it nowadays i see newspaper articles about single nurses, teachers and similar public sector worker who " CANT AFFORD TO BUY A HOME ", the media seem to revell in it, the correct question should be " Did single public sector workers ever afford to buy a home on their own " or more accurately " Should single public sector workers be able to BUY a home as some kind of social right ? ".
I have never worked in the public sector but when i was single there was no way i could have afforded a mortgage in a million years, life is like that.
2007 is just the start of pain for many, things will have to get far worse before they get better.
8. Chilli said...
Paolo - spot on!!!!
Event the argument that house prices are based on market fundamentals, is essentially saying there are not enough houses to go around. As if this is somehow a good thing.