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gruffydd

Uk Housing Market - The Untold Story

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I've just read a story that was untold. Is that right?

Perhaps it was untold till he told it, then it wasn't?

PS. Is it worth the telling?

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"If what Boulger writes is true, that means even if house prices do begin to rise steadily again a lack of “liquidity†may still prohibit any significant turnover from being achieved. This means the prices noted in surveys will increasingly become the reflection of an illiquid market, and in that sense not a wholly reliable indicator of the market as a whole."

Illiquid in the sense that there is no money.

Usually, this means the price will fall to a level where there is money.

they just dont like to say it though. goes against the supply and demand argument.

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Perhaps it was untold till he told it, then it wasn't?

PS. Is it worth the telling?

There might be a few "I told you so" stories in the next few years .....

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Forgive my ignorance, but can the broker provide indicative rates without credit check, subject to credit approval on the final (one) application?

i.e. are Boulger's comments simply banging the drum for mortgage brokers?

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Key among those are people literally “stuck†in the market as it stands. Not quite in negative equity or running up arrears, but equity severely enough eroded to prevent any possible relocation. And while this immobility doesn’t ring the same alarm bells as defaults do, there are still some very important macroeconomic consequences, says Boulger.

He makes the point that people can't relocate because there is not enough equity to fund a deposit on their onwards purchase.

In which case, why don't they sell to rent, or even rent to rent?

This is about want, not need.

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Bougler and the FT are tiptoeing around the issue of affordability but he raises good points about the credit checks - that is very sneaky behaviour from the lenders and should be stamped out immediately.

The negative equity issue is a non-issue though - the market will sort that out and the government really has no business intervening in the market to allow existing homeowners to trade up.

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Heeeeelllp I can feel someone sucking the story out of my head so it remains untold.

Once told, it cannot be untold, only forgotten.

If an untold story is told in the forest and nobody hears, is it still untold?

No. A voice crying in the wilderness is still crying.

(Are we giving this Ray Boulger thread it deserves)?

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The untold story of a property pumping mortgage maggot.

As told by the financial times. Are they going pay per view as well, that will be a laugh.

Edited by OnlyMe

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Are you suggesting that Ray Boulger could be mistaken...that the story has been told but that it was told in the forest?

I suspect the story has already been told in many places, in many houses, up and down the land.

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I suspect the story has already been told in many places, in many houses, up and down the land.

:P:rolleyes: Liar Loans were [and still are?] the only way to "afford" property for 97% of people.

What is the state of play now? Stalemate?

There's a LONG way further for "prices" to drop before property is even remotely "affordable".

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Usually, this means the price will fall to a level where there is money.

Well there is 3.3 trillion dollars sitting in China and other countries. When prices fall enough or QE threatens to devalue it, it will be looking for a new home, and might just start buying up UK property...

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The untold story of a property pumping mortgage maggot.

As told by the financial times. Are they going pay per view as well, that will be a laugh.

Ah, then the FT story will not remain un-tolled ?

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Has anyone considered the possibility that real estate owners could (theoretically) simply hold on to all their property?

The reason i bring it up as a purely theoretical possibility is because unlike in other markets, what they are holding between them cannot be replaced.

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Has anyone considered the possibility that real estate owners could (theoretically) simply hold on to all their property?

The reason i bring it up as a purely theoretical possibility is because unlike in other markets, what they are holding between them cannot be replaced.

Yes, If they don't have to make unaffordable debt repayments on a loan secured upon that property.

I think about half of home owners are mortgage free, but they tend to be the older generation,

more likely to want to downsize, or simply to die.

Otherwise, if they need to move for work or family reasons, then they still will get exposed to the current market conditions.

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Looking good for the moment...

No input on this thread from McSpamish, Squibbley, Clitoa, or that newbie Sh!tterhouse.

So far, it REMAINS the Untrolled Story.

OK. I'll get my coat.

B

Edit: Seems like Sh!tterhouse had already trip-trapped across this post. My mistake - I guess I missed it, as it added precisely f**k all to the sum total of human knowledge, so I didn't pick it up....

Edited by buzzardo

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