Martin_JD
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Posts posted by Martin_JD
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On 10/4/2021 at 9:46 PM, TheCountOfNowhere said:
Say what?
Ons said house prices fell 5% last month
As usual, you're missrepresenting the data to fit your narrative here. What the ONS did actually say was more nuanced, ie "UK average house prices increased by 8.0% over the year to July 2021, down from 13.1% in June 2021'
Which means they are still up year on year, as they go on to confirm:
"UK average house prices increased by 8.0% over the year to July 2021"
Source: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/july2021
Again, UK house prices have gone ballastic this year, and the crash you and your band of followers predicited earlier in this thread has not materialised.
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Another bump after a few months!
Those of you proclaiming a house price crash earlier on in the year now looking a bit silly!
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23 hours ago, AndyRB5 said:
It is a weekend; pretty nice weather throughout the country (Sunday); most of the social restrictions related to COVID-19 now lifted, and yet someone has the inclination and time to post something like this?
I don’t doubt the truth of what is being said, but I do despair of the sentiment and the pleasure and glee with which it seems to be made. Decent housing is a basic human right, and celebrating in ever increasing prices that puts this out of reach for many is so depressing and sad.
Apologies if that came across as gleeful Andy, it was more in response to some of the bears on here who are perennially wrong about the direction of the housing market.
The fact that housing is out of reach for many is sad, I agree with you. I just don’t like the idea of potential buyers being put off from ever taking the plunge under the misapprehension that a crash is about to happen.
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Seems like a decent competition to be honest, I might enter it myself.
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5 minutes ago, Pebbles said:
For those of us here since 2011 we have seen a few of the counts tops.
Oh really? I mean I wouldn’t care but he may be putting off people who are In position to buy, who end up priced out of the market waiting for the crash that never came.
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4 hours ago, TheCountOfNowhere said:
the housing market has collapsed
Lol, didn’t you call the top of the market last year? And now your saying it’s collapsed, which is the exact opposite of what any of the usual metrics are telling us.
The only thing that’s collapsed is your credibility I’m afraid.
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Nearly a quarter of properties are selling within a week of going onto the market.
It’s mental out there, question is how long will the boom go on for?
Also, Barclays boss predicts the biggest economic boom since 1948 (bbc news)
So where is this crash and mass unemployment which some of you where insisting was coming?
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A few on here (myself included) have been calling this for ages. People where saying the end of furlough was the end of the world, when in fact most people who lost jobs where never gonna be In a position to buy a house in the first place. The fundamentals are all still in place - cheap money, lack of supply, lot's of money sloshing around.
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5 hours ago, Si1 said:
It's easy to calculate. But a lot of people don't really get the concept. It's a penny dropping moment really. It's also very commonly misunderstood by wider society.
Why don't you attempt to describe the concept yourself then? Rather than just complaing about people not understanding it and ignoring the examples given.
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10 minutes ago, captainb said:
Genius is it's more expensive each month than paying your own!
A point which the OP fails to grasp.
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41 minutes ago, Bruce Banner said:
Don't forget your landlord's mortgage.
lol. Paying off someone else's mortgage for them, what a splendid opportunity!
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5 hours ago, the_duke_of_hazzard said:
Work in IT, I took a 30% pay cut for a more fun job pre-pandemic, and am now being offered near double that. YMMV.
Interesting, what are you doing that’s more fun? What where you previously doing ?
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12 hours ago, TheCountOfNowhere said:
They've fallen according to property lion and listings surged....no demand.
Crash is happening now.
The sheer desperation of the government and MSM is there to be seen.
A crash is happening? You're are that we're in the middle of a boom right?
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Just now, LesDawson said:
A whole generation screwed.
Yup, pretty bad really.
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"Demand for homes is surging to levels not seen for at least a decade"
Looks like this crash some here have been heralding isn't coming any time soon, quite the opposite in fact, as a few of us on here predicted!
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I wouldn't panic - those 5% mortgages still come with the same restrictions in regards to income multiples - so a lot of people will still be priced by the total they are able to borrow based on earnings. I don't doubt you regarding the madness of the market at the moment, house buyers seem to be outnumbering sellers.
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6 minutes ago, Si1 said:
Dude, you are innumerate. You don't understand how silly you sound.
Rather then resorting to insults why don't you explain how anything I said in that post is wrong?
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3 hours ago, Si1 said:
Well yes but it's explicitly in the cost but missed out if buying calculations. This is so obvious it's painful.
The obvious bit which you seem to miss is that your decade of renting and paying someones mortgage off for them could of been better spent paying your own mortgage off.
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So much for the crash some of the doom mongers here where telling us about at xmas. Seems to be full steam ahead and prices are gonna keep rising for the next couple of years imo.
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On 3/30/2021 at 2:26 PM, TheCountOfNowhere said:
Mortgage approvals down.
MMake sense man.
mortgage approvals have recently been at a 13 year high
https://www.ftadviser.com/mortgages/2021/02/04/mortgage-approvals-at-13-year-high-in-2020/
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0-2.4% growth - a slight uptick in prices for this year imo - flats will go down in value but larger house will continue to rise.
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12 minutes ago, TheCountOfNowhere said:
Well put and pretty frightening.
Saw a 4 bed house in Northants listed today at 25x the local average wage.
Want a shelter, you're going to have to take on a life time of debt to get one...of course the prices only go up so you wont lose out.....
It's slavery.
Sounds like that was out of your price range, but surely there are cheeper more affordable places you could look at?
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14 hours ago, Si1 said:
No it isn't. Large parts of the working population in serious financial trouble, both through lost income during the pandemic and cladding issues.
These large parts of the population you speak of: Many aren't going to be buying houses regardless of pandemics or "cladding issues".
Lots of money still sloshing around, lots of people with deposits ready and the ability to pass affordability tests, lots of competition for the same few houses, which means demand is outstripping supply and prices are going up. The stamp duty freeze merely poured petrol on the fire.
House prices continue to rise, demand continues to outstrip supply, borrowing continues to be at a record low, but still you continue to grumble and fail to grasp the fundamentals.
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It's really not difficult to understand - it's just supply and demand. We have incredibly low interest rates and more people trying to buy good quality houses than there are available. The interesting thing for me is that rather than expect the facts, the OP turns to conspiracy theories.
Property sales recover to pre-lockdown levels across England, says Zoopla
in House prices and the economy
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Incredible isn't it! heh. It's a shame to say I told you so, but these cranks really should stop presenting people with thier misinformed opinions as facts. I will bump this again in 6 months time, and we'll have the same conversation :)