Friday, Apr 25, 2008
Role up role up sign now whilst stocks last
The Times: Buyers rush for mortgages as drought worsens
The number of mortgages taken out slumped by nearly 50 per cent last month as the mortgage drought left buyers scrambling to secure home loans in the wake of the credit crunch....................House price crash u.k. should be on the honours list
Posted by titaniccaptain @ 01:09 PM (658 views) Add Comment
8 Comments
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1. need-a-crash said...
"This came as additional evidence emerged of a slowdown in the housing market, heightening fears that house prices may tumble further."
I know it's been pointed out many times before, but just I'd highlight how the media still assume that their readers believe high prices = good and low prices = bad.
Surely anyone who bought a property as a home, or a genuine long-term investment has nothing to "fear" from falling prices. Anyone below the age of about 32 who's been priced out of the market will be over-joyed by falling prices... meaning only greedy speculators and MEWers have anything to fear... why can't the media see this?!!
2. bystander said...
....because need-a-crash, most of the journalists and owners of the media have a vested interest in keeping HPI going, either because of personal leverage or, in the case of GB and his crew, the only way to keep the happy 'myth' of economic stability through debt built on the back of 'my house is worth 300 pound more now than it was worth five minutes ago and I've already spent it' attitude, and therefore keep in power.
3. Si said...
In a recession one of the major cutbacks will be, of course, in non-essential jobs such as the media...
4. maddison said...
The vast majority of people who read the papers and watch the news own their own home. simple as that!
5. Bananasplit said...
Maddison said..... what are you suggesting ? Those that own their own home are intelligent and interested in current affairs or most people just own a house !
need a crash.....Long term investments are great if made at the lower end of a cycle. If you bought a home for 350k and the market falls by 30% then you would need to be on drugs to think thats ok, it's a long term investment.
6. bystander said...
Maddison, just out of interest what is the percentage of owner occupiers, compared to renters in the UK?? Anyone got any ideas???
7. Jm78 said...
bystander...70%oo
8. justwatching said...
'The number of mortgages taken out slumped by nearly 50 per cent last month as the mortgage drought left buyers scrambling to secure home loans in the wake of the credit crunch.'
Now I am confused. How can a reduction by 50% represent a scramble????????????????????????????????????????????????????
Buyers or re-mortgagers?