Jump to content
House Price Crash Forum

Buyers Lining Up, Says Rics


Valerius

Recommended Posts

0
HOLA441
  • Replies 116
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

1
HOLA442
http://www.timesonline.co.uk/tol/money/pro...icle5697341.ece

Said it before...Activity will pick up once the Government mortgage backed securities start flowing through the system

You have been warned.

Activity will pick up when house prices return to sensible levels, i.e. about 3.0x gross salary. That's about 90k for the "average house", not the £167,751 mentioned in the article.

Link to comment
Share on other sites

2
HOLA443
Activity will pick up when house prices return to sensible levels, i.e. about 3.0x gross salary. That's about 90k for the "average house", not the £167,751 mentioned in the article.

Agreed, with the proviso that banks dont use low interest rates to lend on "affordability"

Link to comment
Share on other sites

3
HOLA444
4
HOLA445
5
HOLA446
http://www.timesonline.co.uk/tol/money/pro...icle5697341.ece

Said it before...Activity will pick up once the Government mortgage backed securities start flowing through the system

You have been warned.

You have no idea, the wage v mortgage ratio is well out of sync, on top of that taxes are taking out a big chunk of peoples expenditure, which would have been directed at the economy.

You simply don’t understand the west is bust, why can’t you lot understand that over the passed 80 years individual/ governments debt is growing as each decade approaches.

Its getting to its peak, Christ you guys just want to drive the whole economy into anarchy, infact its approaching anarchy as we speak. You really think people will spend their entire life paying for a one bedroom haven’t you heard of opportunity cost? Just seems most don’t have a grasp of simple a level economics here.

As property prices get higher, mortgages become longer workers pay more towards their mortgages and less towards consuming, people opting out of work and signing on as the best means to have roof over their head, and you think prices can go higher. Do you live in lala land?

Can’t you see or even understand what’s happening around you? You’re going to be in for a big shock in April may June really, I just can’t believe you still think the property market still has room to expand, and that people what too buy, while the whole economy around you collapses, governments arguing with one another about finance.

Do you even know how bad it is?

Link to comment
Share on other sites

6
HOLA447
You have no idea, the wage v mortgage ratio is well out of sync, on top of that taxes are taking out a big chunk of peoples expenditure, which would have been directed at the economy.

You simply don’t understand the west is bust, why can’t you lot understand that over the passed 80 years individual/ governments debt is growing as each decade approaches.

Its getting to its peak, Christ you guys just want to drive the whole economy into anarchy, infact its approaching anarchy as we speak. You really think people will spend their entire life paying for a one bedroom haven’t you heard of opportunity cost? Just seems most don’t have a grasp of simple a level economics here.

As property prices get higher, mortgages become longer workers pay more towards their mortgages and less towards consuming, people opting out of work and signing on as the best means to have roof over their head, and you think prices can go higher. Do you live in lala land?

Can’t you see or even understand what’s happening around you? You’re going to be in for a big shock in April may June really, I just can’t believe you still think the property market still has room to expand, and that people what too buy, while the whole economy around you collapses, governments arguing with one another about finance.

Do you even know how bad it is?

Bad to the bone

Link to comment
Share on other sites

7
HOLA448
http://www.timesonline.co.uk/tol/money/pro...icle5697341.ece

Said it before...Activity will pick up once the Government mortgage backed securities start flowing through the system

You have been warned.

And just how long would that last? What government backing of mortgage backed securities would mean is a return to liar loans, lending to ninjas, trading in and gearing on the securities, a sudden realisation of their worthlessness, systemic collapse temporarily held up by the goverment followed by its total bankruptcy.

Enough pensioners have died of cold this winter through trying to manage their meagre incomes. When the govt goes bust and no-one receives any social security at-all, Ed Balls's nightmarish vision of the return of fascism will the the last of your worries.

Edited by Dave Spart
Link to comment
Share on other sites

8
HOLA449
Although it's not a polular view on here I agree that once the money becomes available the housing market will be like a Christmas sale.

Thousands out there ready to jump in.

I predict big rises in 2010. Average house price over £200,000 again.

:o

Money won't become available.

End of.

That kinda burns a hole in the rest of your bullsh1t.

Thousands losing jobs every week, the car industry on its knees.....yep, one can part a fool and his money...oh, unless he has none.

Alot of fools have none.

BTW I viewed some luxury cars this week.....call Toyota...buyers lining up.....

Link to comment
Share on other sites

9
HOLA4410
http://www.timesonline.co.uk/tol/money/pro...icle5697341.ece

Said it before...Activity will pick up once the Government mortgage backed securities start flowing through the system

You have been warned.

I'm lining up for a nice pad in Chelsea but, wait, hold on a minute. No one in the current climate would be willing to lend me all that dough.

Also I'm concerned about my continued employment what with the spot of near total economic collapse we are having. It's been in the news recently, maybe you didn't notice.

So if it's alright with you I think I'll bide my time and God willing if I still have a job in two years I'll buy a place then.

Thanks anyways.

;)

Link to comment
Share on other sites

10
HOLA4411
http://www.timesonline.co.uk/tol/money/pro...icle5697341.ece

Said it before...Activity will pick up once the Government mortgage backed securities start flowing through the system

You have been warned.

Rics- oh yes, them that fiddle the figures to their own ends.

Of course.

How many rics employees have lost their jobs in the last 6 months?

:blink:

Link to comment
Share on other sites

11
HOLA4412
12
HOLA4413
13
HOLA4414
Although it's not a polular view on here I agree that once the money becomes available the housing market will be like a Christmas sale.

Absolutely Sibley. There are a lot of stupid people out there.

However the money will not be available to the great majority because:

i) The banks don't have it

ii) A lot of well-paod people in all areas are losing their jobs so are having to sell, not buy

Timber!

Link to comment
Share on other sites

14
HOLA4415

anyone got a link to full RICS survey? I'm looking now but they're always slow to upload it

i've started looking as STR fund been destroyed by low rates.. not covering rent anymore

estate agent claims there were offers rejected 10% below asking price on two properties i saw.. i think they're telling porkies

though a friend at work says a major uk bank is processing lots of mortgage applications... BUT... only 1 in 14 are been accepted due to tight credit scoring e.g. if you missed a credit card payment once before no chance

Edited by jac
Link to comment
Share on other sites

15
HOLA4416
anyone got a link to full RICS survey? I'm looking now but they're always slow to upload it

i've started looking as STR fund been destroyed by low rates.. not covering rent anymore

estate agent claims there were offers rejected 10% below asking price on two properties i saw.. i think they're telling porkies

though a friend at work says a major uk bank is processing lots of mortgage applications... BUT... only 1 in 14 are been accepted due to tight credit scoring e.g. if you missed a credit card payment once before no chance

Could be a blessing in disguise

Link to comment
Share on other sites

16
HOLA4417
Although it's not a polular view on here I agree that once the money becomes available the housing market will be like a Christmas sale.

Thousands out there ready to jump in.

I predict big rises in 2010. Average house price over £200,000 again.

But where DO you expect the money to come from?? Seriously. If you can think of a source that I've missed, I'd be genuinely interested to know what it is.

Link to comment
Share on other sites

17
HOLA4418
18
HOLA4419
19
HOLA4420
though a friend at work says a major uk bank is processing lots of mortgage applications... BUT... only 1 in 14 are been accepted due to tight credit scoring e.g. if you missed a credit card payment once before no chance

Good anecdotal evidence the jac.

It has of course been pointed out many time son here and by Roger Bootle a few days ago that desire to buy a house is not the same as demand.

The capacity to buy a house for most people depends entirely on them getting a mortgage. What RICs members seem to be misunderstanding is that when people walk through the door of an EA office and ask to view a house thay are only a buyer if they have found a bank willing to lend them money - if not then their desoire to buy is an irrelevance.

Lending is not getting back to normal and will not do so until banks are willing to lend at 90% LTV again and at the moment they are not because they fear further falls will leave them with a loan on their books which is for more than the value of the house it is secured against.

I went to see major clearing bansk to see what mortgege I could get the other day. They refused to contemplate anything more than 3 x joint earnings and 75% LTV - and I am in their highest customer category.

Link to comment
Share on other sites

20
HOLA4421
Good anecdotal evidence the jac.

It has of course been pointed out many time son here and by Roger Bootle a few days ago that desire to buy a house is not the same as demand.

The capacity to buy a house for most people depends entirely on them getting a mortgage. What RICs members seem to be misunderstanding is that when people walk through the door of an EA office and ask to view a house thay are only a buyer if they have found a bank willing to lend them money - if not then their desoire to buy is an irrelevance.

Lending is not getting back to normal and will not do so until banks are willing to lend at 90% LTV again and at the moment they are not because they fear further falls will leave them with a loan on their books which is for more than the value of the house it is secured against.

I went to see major clearing bansk to see what mortgege I could get the other day. They refused to contemplate anything more than 3 x joint earnings and 75% LTV - and I am in their highest customer category.

completely agree which is why i want to see the full report

buyer enquiries up again i believe but SALES down

ie just full of timewasters nosying around inside but no real money

Link to comment
Share on other sites

21
HOLA4422
i've started looking as STR fund been destroyed by low rates.. not covering rent anymore

Why would you expect the interest on your STR fund to cover your rent?

Dipping into your salary to pay for the roof over your head doesn't seem much of a hardship to me. Certainly no reason to buy now - about 3 or 4 years too early!

Link to comment
Share on other sites

22
HOLA4423
Is that the one being vacated by Phil Scolari?

Yep, busted.

If I can get our lot of multi millionaire playboy/rapists up for it and playing better than all the other multi millionaire rapists in the league I'm sure we'll have a great season.

It'll put a big smile on my Russian gangster bosses face as well.

Arhh the noble game.

;)

Edited by AuroraBorealis
Link to comment
Share on other sites

23
HOLA4424
Why would you expect the interest on your STR fund to cover your rent?

Dipping into your salary to pay for the roof over your head doesn't seem much of a hardship to me. Certainly no reason to buy now - about 3 or 4 years too early!

( a ) because rental yields have been so low, but not now compared to savings rates!

( b ) the value of a house equals the discounted flow of rent. if i sold my previous house to buy another in the future, the interest should be similar to the rent as the opportunity cost of investing in a house is the interest forgone in a bank. of course there's also 'capital gains' on house but i expected capital losses!

Link to comment
Share on other sites

24
HOLA4425

Perhaps someone could confirm this with figures and a link, but i believe that under Labour the average man now looses 50% of his wage to tax over the 40% of 1997.

I'm a first time buyer with a large deposit and i'm not buying sh*t until houses become realistically priced. That means 3.5 - 4x average salary.

Tom

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information