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IOW-here-I-come!

Anyone Watching Tv Now?

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I have just come into the house from the office and heard a snippet from the Wright Show. Basically this was the conversation....

"I have no problems in saying that the market is bottomed and that prices can only go up from here"

"I have heard people talk of a double dip"

"no, prices have dropped so far and all the reports show rises, i dont see it as a gamble as the only other option is to rent!"

Is anyone watching it? I was seriously stopped in my tracks!!! :o

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I have just come into the house from the office and heard a snippet from the Wright Show. Basically this was the conversation....

"I have no problems in saying that the market is bottomed and that prices can only go up from here"

"I have heard people talk of a double dip"

"no, prices have dropped so far and all the reports show rises, i dont see it as a gamble as the only other option is to rent!"

Is anyone watching it? I was seriously stopped in my tracks!!! :o

Yep, I saw it too. They had another caller on asking about interest only mortgages as they had just had a baby and needed extra money, that moving to an interest only mortgage would give them. After explaining to the caller that if you had for example, a £100k 25 year interest only mortgage, after 25 years you would still owe £100k. The caller responded by asking if they would then be able to get another mortgage after 25 years.

The finance "expert" they had on also said that because a few estate agents had told him we had reached the bottom it was now time to buy.

Green shoots anyone?

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Yep, I saw it too. They had another caller on asking about interest only mortgages as they had just had a baby and needed extra money, that moving to an interest only mortgage would give them. After explaining to the caller that if you had for example, a £100k 25 year interest only mortgage, after 25 years you would still owe £100k. The caller responded by asking if they would then be able to get another mortgage after 25 years.

The finance "expert" they had on also said that because a few estate agents had told him we had reached the bottom it was now time to buy.

Green shoots anyone?

I was completely torn! Even now I am supposed to be working, but just couldnt drag myself away from it it was so extreme in its ramping. It sounds like if I had watched any more of it then I would be needing a new TV! I can't believe some of the outrageous advice that is freely given away by so called experts.

The only good thing hopefully to come from it is that most people who are able to get a mortgage at the moment wouldnt be watching as they would be working!! :P

Edited by IOW-here-I-come!

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didn't see the Wright stuff today, but I have noticed in the past they have often had guest property "experts" on this programme ramping the market like mad. :rolleyes:

I am currently watching "No Place like Home" on itv, and a family are thinking of returning to UK from Austria.

This is one the houses the presenter showed them.

http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse

At the time of filming the asking price was £430,000, and the presenter said they could probably "get it in the 390's". It now still for sale and asking £349,000!

Still very expensive for a 3 bed semi imo.

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They can ramp all they like.

the credit crisis has not gone away.

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how close would that "expert" be getting to offering financial advice? I though there were all sorts of FSA regulations on that sort of thing?

there are. but when it comes to property its different......

you can say anything you want.

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