Jim B. Posted May 20, 2009 Share Posted May 20, 2009 And here they are. Haha....20% of 5 is just 1. You know those figures have little value. So few people are buying anyway. Nice try though. Quote Link to comment Share on other sites More sharing options...
wonderpup Posted May 20, 2009 Share Posted May 20, 2009 According to this from today's Telegraph FTB's are making a comeback.Maybe it's better than the big chief at RICs even realised. So, you cite RICs as your authority and now cast doubt on their competence? The basic problem always remains the gap between where house prices currently are and the amount of money now available to finance their purchase- no amount of wishful thinking or creative interpretation is able to fill this gap in. Quote Link to comment Share on other sites More sharing options...
Moo Posted May 20, 2009 Share Posted May 20, 2009 And here they are. The article contains only percentages, and not absolute figures. It is therefore meaningless. For example, in 1942 the distribution of first names of veterans of the Battle of the Denmark Straight that served on HMS Hood was 33.3'% Ted, 33.3'% Robert, and 33.3'% William. Does it therefore follow that the battle was fought by 472 Teds, 472 Roberts, and 472 Williams? Quote Link to comment Share on other sites More sharing options...
Timm Posted May 20, 2009 Share Posted May 20, 2009 To be fair I do see a stabilisation in the falls, hpc stage 1 over = 20%.BUT............now see hpc2 being readied for action. Namely the FSA bringing out rules on mortgaing lending. Nothing is going to stop the bubble deflating all we are seeing is attempts to deflate it as slowly as possible. It's 40-50% whatever.......... hpc 3 will be when interest rates begin to rise, coinciding with the reality of being a landlord for all the 'we will sit it out' brigade. Yes indeed. If we are really lucky, we will see a HIPs Holiday soon, that will bring out the sellers just in time for the next leg down. Oh, and market rates are rising. A huge increase in the number of accounts / savings bonds offering 4%, and news expected from NSAI in the next week. Expect those cash rich buyers to vanish from whence they came. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted May 20, 2009 Share Posted May 20, 2009 GuardianPositive news everywhere you look Simon Rubinsohn's track record on predicting house prices is about on a par with Sibley's, or indeed those of your good self. I say that prices will fall for an absolute minimum of 15% over the next year but probably nearer 25%. Quote Link to comment Share on other sites More sharing options...
Mr. Miyagi Posted May 20, 2009 Share Posted May 20, 2009 God Rinoa you are so freaking boring. Quote Link to comment Share on other sites More sharing options...
Rinoa Posted May 20, 2009 Author Share Posted May 20, 2009 (edited) Oh, and market rates are rising. A huge increase in the number of accounts / savings bonds offering 4%, and news expected from NSAI in the next week. Expect those cash rich buyers to vanish from whence they came. Yes, I can just hear those cash rich buyers. "I can only get 3.5% on my savings. That's crap, I'm buying a house. Oh, wait a minute they're now offering 4%, cancel the house it's all going back in the building society" Actually, 2 and 3 year swap rates have started to fall again this week. Lenders are often slow to respond. Edited May 20, 2009 by Rinoa Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted May 20, 2009 Share Posted May 20, 2009 GuardianPositive news everywhere you look Except the house price indexes Go away Columbo Quote Link to comment Share on other sites More sharing options...
justwatching Posted May 20, 2009 Share Posted May 20, 2009 And here they are. Oh Rinoa bless. Here what is? A broker saying 21% of its customers were first time buyers? 21% of what? Could even equal 21 mortgages. Quote Link to comment Share on other sites More sharing options...
dispossessed Posted May 20, 2009 Share Posted May 20, 2009 Positive news everywhere you look You're not wrong, just this morning in my local rag I read of another 2000 redundancies, that will favour the bears. Quote Link to comment Share on other sites More sharing options...
Mal Volio Posted May 20, 2009 Share Posted May 20, 2009 Yes, I can just hear those cash rich buyers. "I can only get 3.5% on my savings. That's crap, I'm buying a house. Oh, wait a minute they're now offering 4%, cancel the house it's all going back in the building society" I am a cash-rich (potential) buyer. Why would I exchange +4% on my STR fund for -17% ? Quote Link to comment Share on other sites More sharing options...
MOP Posted May 20, 2009 Share Posted May 20, 2009 I am a cash-rich (potential) buyer. Why would I exchange +4% on my STR fund for -17% ? "Sentiment". That's why. Not mathematics, just "sentiment". Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted May 20, 2009 Share Posted May 20, 2009 I am a cash-rich (potential) buyer. Why would I exchange +4% on my STR fund for -17% ? Me too, I would only need a small mortgage and have a 60% deposit on my target house and a 100% credit record. I could buy tomorrow. But why would I when that house will be £30,000 cheaper this time next year? Quote Link to comment Share on other sites More sharing options...
tomwatkins Posted May 20, 2009 Share Posted May 20, 2009 That makes me laugh so much. "House prices will stabilise but er no-one will actually be able to sell them, erm duh yeah".Cloud cuckoo land. Brings my profession in to disrepute. The statement by "our expert" is baffling in its stupidity. Prices will stabalise (by his own admission very few FTB's) so, presumably everyone stays put. How can it be otherwise? Someone help me out here-what am I missing. Tom MRICS PS My apologies on behalf of my profession. Quote Link to comment Share on other sites More sharing options...
tomwatkins Posted May 20, 2009 Share Posted May 20, 2009 That makes me laugh so much. "House prices will stabilise but er no-one will actually be able to sell them, erm duh yeah".Cloud cuckoo land. Brings my profession in to disrepute. The statement by "our expert" is baffling in its stupidity. Prices will stabalise (by his own admission very few FTB's) so, presumably everyone stays put. How can it be otherwise? Someone help me out here-what am I missing. Tom MRICS PS My apologies on behalf of my profession. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted May 20, 2009 Share Posted May 20, 2009 Brings my profession in to disrepute. The statement by "our expert" is baffling in its stupidity. Prices will stabalise (by his own admission very few FTB's) so, presumably everyone stays put. How can it be otherwise? Someone help me out here-what am I missing.Tom MRICS PS My apologies on behalf of my profession. An excellent point, the only place where I would disagree with you is where you consider that estate agency is a "profession". Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted May 20, 2009 Share Posted May 20, 2009 Brings my profession in to disrepute. The statement by "our expert" is baffling in its stupidity. Prices will stabalise (by his own admission very few FTB's) so, presumably everyone stays put. How can it be otherwise? Someone help me out here-what am I missing.Tom MRICS PS My apologies on behalf of my profession. I am ashamed to be a member of RICS when they continually publish such clap trap. Quote Link to comment Share on other sites More sharing options...
Telometer Posted May 20, 2009 Share Posted May 20, 2009 An excellent point, the only place where I would disagree with you is where you consider that estate agency is a "profession". Surveying is most definitely a profession. That was uncalled for. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted May 20, 2009 Share Posted May 20, 2009 Surveying is most definitely a profession. That was uncalled for. Yes, apologies, I was distracted by the fact that Rinoa, an estate agent, started the thread. When I re-read it after I had posted it I realised I had messed up. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted May 20, 2009 Share Posted May 20, 2009 GuardianPositive news everywhere you look Totally agree. A 30% drop was as much as I dared hope for within 3 or 4 years compared to the last crash but RICS confirm we get it this year. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 20, 2009 Share Posted May 20, 2009 Surveying is most definitely a profession. That was uncalled for. so is prostitution....carry out a service for money. Quote Link to comment Share on other sites More sharing options...
deadman Posted May 20, 2009 Share Posted May 20, 2009 Only an idiot would deny the economy is back on track. Thank god for that. GB did know what he was doing after all. And you thought you knew better. Why are your posts becoming 100% trollish? I suspect you may have been a bear in disguise all along. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted May 20, 2009 Share Posted May 20, 2009 Only an idiot would deny the economy is back on track. OK, so on Planet Sibley I am an idiot. Quote Link to comment Share on other sites More sharing options...
grizzly bear Posted May 20, 2009 Share Posted May 20, 2009 Yes, I can just hear those cash rich buyers. "I can only get 3.5% on my savings. That's crap, I'm buying a house. Oh, wait a minute they're now offering 4%, cancel the house it's all going back in the building society" Actually, 2 and 3 year swap rates have started to fall again this week. Lenders are often slow to respond. Rinoa: You are talking rubbish. I'm a STR almost for cash buyer and my money is currently in a one year bond at 6.5% - so no rush to buy, even, because we are only paying around a 3% yield on our rental house - which is less than the rate than we'd borrow at. Yes we will buy at some point but even if we only get 4% its still not worth buying unless we are 100% sure that prices have stopped falling. Although you can think prices are going up, I'd rather wait even if it means I miss the actual bottom by a few %. Quote Link to comment Share on other sites More sharing options...
darwin Posted May 20, 2009 Share Posted May 20, 2009 Only an idiot would deny the economy is back on track. Thank god for that. GB did know what he was doing after all. *blink* *blink* Yeah, you know the one: Quote Link to comment Share on other sites More sharing options...
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