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House Prices To Soar 17 Per Cent

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I posted today that I thought the dead cat bounce was over in Esher.

I would say this is irrefutable* evidence that I was right.

:lol:

*Definition as per Andy Murray thread. ;)

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Either:

a) We're all going to get massive 50%+ pay rises this year.

B) The banks are going to return to reckless fraudulent lending.

c) This report is ********.

mmmm...

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Is it me, or at just 23 words long, that has to be one of the most shortest 'news' pieces ever??

There's more than that , I'm afraid. The published articles of this 'journalist' shows she's a consistent, big time HPI ramper. Have a look at the titles of her work. Probably all emanating from Assetz lunatics.

http://www.journalisted.com/sarah-ogrady

Edited by juvenal

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It's the 17% that intrigues me. Where do they get that from? Thin air? It's like those predictions that prices would fall by 60% or whatever by 2013 - it's all 'off-the-top-of-the-head' stuff!

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Is it me, or at just 23 words long, that has to be one of the most shortest 'news' pieces ever??

Not sure if I am going to resume posting , stopped the past few days due to Hamish and Rinoa but noticed your Q and I was still signed in having commented on the Bull to Troll thread.

Try this link for the 17% article:

House Prices to Soar 17% This Year

There is denial and then there is madness! The article says:

“Extreme supply limitations and some interesting new first-time buyer mortgage products will help support market recovery and it is likely that we will see a flurry of higher loan-to-value rates released, as soon as it is widely recognised that the market has stabilised and the risk to the banking sector of further housing equity losses has diminished.â€

Where on earth do they get their facts from?

The FT yesterday said:

UK lending suffers setback

By Daniel Pimlott, Economics Reporter

Published: June 29 2009 11:28 | Last updated: June 29 2009 11:28

Lending to consumers and businesses suffered a setback in May, highlighting the threat to nascent green shoots from weak levels of credit.

Net lending secured on dwellings did not grow during the month, the worst performance since records began in 1993, the Bank of England said. The annual rate of lending growth of 1.3 per cent was also the slowest pace on record, and compares with a 11 per cent growth rate before in late 2007.

The slowdown in lending secured on dwellings came amid a slower than expected increase in new mortgage lending and a continued fall in remortgaging. New mortgage approvals rose by 223 to 43,414 in May, the smallest increase since January.

“The minimal rise in mortgage approvals in May underlines the continued fragility of the housing market,†said Seema Shah of Capital Economics. “At this rate, mortgage approvals are unlikely to return to levels which historically have been consistent with stable prices until late next year.â€

As for new mortgage deals for FTB's , there are 97% fewer mortgage deals for FTB's looking for something higher than a 60% LTV. What is more every mortgage offered at 90% LTV costs the lender 5x's more than a 60% LTV, leaving less money for lending overall.

Lenders, now heavily reliant on dwindling deposits already have strict lending criteria, however, Rightmove said last week that should demand increase lenders would not only raise interest rates but would apply even stricter criteria.

Nationwide/ Halifax/ Rics/ Hometrack /CML and on and on and on ALL say that property is only going up because of their being so few new properties coming on the market, whilst agents books are full of overvalued properties nobody seems to want.

FT said last week in relation to people in negative equity:

.....all these people stuck in their homes are creating a ‘glut of hidden property’, which in turn is likely to depress house prices further. Even a short term rise in prices, Fitch argues, is likely to make things worse in the longer term, by encouraging trapped sellers to put their homes in the market, which in turn will push prices down again. It sounds like a vicious circle with no way out, for the immediate future at least.

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It's the 17% that intrigues me. Where do they get that from? Thin air? It's like those predictions that prices would fall by 60% or whatever by 2013 - it's all 'off-the-top-of-the-head' stuff!

because if they said 10 or 15 or 20, we would all think they just made it up.

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I dont even think the bulls are expecting a 17% rise.

Oh well. I suppose as we know its come out of the daily express, more than likely the opposite will happen. So i read this as "house prices to fall 17% this year according to one of the most optimistic reports since the recession began"

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Either:

a) We're all going to get massive 50%+ pay rises this year.

B) The banks are going to return to reckless fraudulent lending.

c) This report is ********.

mmmm...

Reckless fraud it is then..

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Don't worry, Daily Express to the rescue :rolleyes:

Soar!!!

That is good news, anyone want to come shopping for a house with me. I think I might treat myself and buy two! Chop, chop, before we miss out.

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interesting new first-time buyer mortgage product

A loan is 'interesting' ? :blink:

Ah I see, this is a 'product' ..........

...... made of?

Yes yes, Hot air ....

.... anything else?

The only time loans were interesting in Scotland was when I turned down the applicant & they decided to make a visit in person

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Good to see Joe Public’s response being Bearish – although are any of these from us lot?

Would be interesting to see if anyone has complained to the publication about this tat.

I know I have form for this with DavidnobberSmith but anyone fancy pointing out to them about her persistent HPI spam articles; especially given her source which is not qualified in the article?

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Good to see Joe Public’s response being Bearish – although are any of these from us lot?

Would be interesting to see if anyone has complained to the publication about this tat.

I know I have form for this with DavidnobberSmith but anyone fancy pointing out to them about her persistent HPI spam articles; especially given her source which is not qualified in the article?

Its the EXPRESS , that is what they print isn't it, sensationalism and tat? ;)

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There's more than that , I'm afraid. The published articles of this 'journalist' shows she's a consistent, big time HPI ramper. Have a look at the titles of her work. Probably all emanating from Assetz lunatics.

http://www.journalisted.com/sarah-ogrady

A quick google also reveals she's married to a Tory MP - Mr Stewart Jackson, MP for Peterborough. Can't see any blatant VI in the members interest listings (e.g. directorship of Assetz!), but I wonder if his wife got any of his GBP 60k a year 'staffing allowance'... :ph34r:

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Its the EXPRESS , that is what they print isn't it, sensationalism and tat? ;)

And read by complete and utter morons, Sun readers at heart but they probably think that the Express is in some way a 'quality' newspaper. They would be Daily Mail readers but think that it is a bit upmarket for them and the articles are a bit too in depth for themto handle. All they can cope with are vague made up stories about Maddie, houseprices and Diana.

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A quick google also reveals she's married to a Tory MP - Mr Stewart Jackson, MP for Peterborough. Can't see any blatant VI in the members interest listings (e.g. directorship of Assetz!), but I wonder if his wife got any of his GBP 60k a year 'staffing allowance'... :ph34r:

This MP Jackson is the greedy comedian who charged refurbishing his swimming pool to the public purse, flipped his home, charged us £3000 for a carpet, £1400 for security gates. In the three years since election, he's charged us £66000 for his house. Full details Telegraph: The Complete Expenses Files P.40

Hardly surprising he's married to an HPI ramper.

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