Sunday, Aug 08, 2010
Affordability easiest since 2001
Telegraph: First-home buyers missing 'deal of a lifetime'
Lombard Steeet Research say that affordability is the easiest since 2001 due to low interest rates (but not since 1997 when house prices started rising). Lower down the article admits that LSR expect house prices to be flat or falling over the next twelve months.
Posted by monty032 @ 10:01 AM (978 views) Add Comment
12 Comments
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1. estrader said...
Do journalists actually believe people who read their rubbish are as stupid as they are? The article is basically saying that houses are more affordable than ever but nobody can afford to buy one because they can’t afford the deposit. Yet in another article, they say things are going great and house prices are rising again.
This is a classic! The moron is incapable of putting 2 and 2 together!
"A typical first-time buyer now has to put down a 25pc deposit, compared to 10pc before the financial crisis three years ago."
2. quiet guy said...
What estrader says.
So on one hand:
"First-time home buyers are missing out on the deal of a lifetime because banks are restricting mortgage lending while affordability is at a decade high"
But:
"LSR expects prices to be "flat or falling" over the next 12 months. Ms Kidd warned: "Once affordability starts to decline, this could be a signal of future payment difficulties and future house price falls."
3. Arthur Kinnell said...
Or to put it more simply - can't afford it? No worries, whatever the price the taxpayers will provide the cash.
Journalists believe correctly that people are stupid, but journalists don't believe their own rubbish. It's known as propaganda - the bigger the lie, the more people are ready to believe it, said Joseph Goebbels. He wasn't wrong.
If you find this all rather depressing, don't believe it.
4. Little Bear said...
the journo like the rest of has confused the affordability of credit with the affordability of the asset. that's why we're in this mess,
5. Bumpy said...
Why does this article leave me speechless? Its banal rubbish.
6. This comment has been removed as it was found to be in breach of our Blog Policies.
7. taffee said...
and of course interest rates will stay this low forever then
The people are morons
8. This comment has been removed as it was found to be in breach of our Blog Policies.
9. Bumpy said...
That article is laughable
10. Anonymhousewill said...
Yeah, there bargains aren't they? With cash so cheap to borrow why not dive in, and if you get in trouble the bank and goverment will steal money for you of the sensible amongst us.
11. novice pete said...
Well put estrader.
reCap fectived southerners, Huh?
12. Arthur Kinnell said...
Or to put it simply: don't worry, of course you can afford it, you can afford anything because we'll lend you the money, we can afford to lend you as much as you want because, well, it's not really our money, so we don't have to worry either. Isn't it lovely?
It's not that the journalists are stupid, they don't believe what they write either, but they know their readers will swallow it. Joseph Goebbels said, the bigger the lie, the more people will be prepared to believe it. You just have to keep repeating it.
Don't be downhearted, there'll be other articles stating the complete opposite.