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Guest Guy_Montag

Uk's Housing Market May Have Turned The Corner

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Guest Guy_Montag

The UK's housing market may have turned the corner even though house prices fell for the third consecutive month in September, a leading property website said today.

-snip-

We may look back with hindsight and say that the summer of 2005 was the time to buy at the bottom of this cycle in the housing market,' he added.

However, he stressed that continued 'realistic' pricing is 'critical' to keep the momentum going.

{I bloody well hope not}

http://uk.biz.yahoo.com/050918/323/fsdza.html

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Of course its turned a corner - it went up and now its going down. And their point is?

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It can't turn..

the debt burden on the individual needed to maintain current prices is too much for most.

even if it could be maintained it would be impossible for the economy to survive if all mortgages reflected todays prices

Currently only a minority of people owe mortgages which relate to current prices

We are seeing a massive slowdown on the high street which follows exactly the Mortage Equity Release fall of.

Debt is expanding, but in a lot of cases this is people who now have no choice but to increase their debt burden..

If everyone buys at this price.. Then the economy needs to be prepared to survive with increased costs and interests..

house prices in Devon have gone up by at least £70,000 for the smallest place.

Multiply that by the number of households and there you have the amount that the economy has to do without.. plus interest..

nope.. it is a fiscal impossibilty for house prices to remain where they are. If they did then the impact would be huge.

Look at current home owners who have bought recently. Interest only mortages and living hand to mouth.. struggling to buy food.. If everyone did that

Pop goes the economy..

Read this..

does this make sense...?

Is there any way this could work...?

Edited by apom

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Yep

Shave an extra 2% of interest rates – and houses will be as cheap as chips (as a monthly expense)

Cool..

I like the way you are thinking..

That way.. the economy would be as solid as a big tank.... grrrr...

Cool..

Now what would happend with interest rates ate 2%

I can only see sunshine and rosy futures

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The UK's housing market may have turned the corner even though house prices fell for the third consecutive month in September, a leading property website said today.

-snip-

We may look back with hindsight and say that the summer of 2005 was the time to buy at the bottom of this cycle in the housing market,' he added.

However, he stressed that continued 'realistic' pricing is 'critical' to keep the momentum going.

{I bloody well hope not}

http://uk.biz.yahoo.com/050918/323/fsdza.html

So that was it then? Biggest property bubble in history followed by a 4% acknowleged drop perhaps and then it is game on again? I don't think so...

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Shave an extra 2% of interest rates – and houses will be as cheap as chips (as a monthly expense)

For six months: then they'll be just as expensive as today again as people push prices up... and a bankrupting expense once rates hit 8% again.

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So ...

Does anyone disagree.

There is no way that the Economy can begin to support the current pricing of homes

read this..

Come up with any answers...

I can't see that it can

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There is no way that the Economy can begin to support the current pricing of homes

Only through massive wage inflation: and where's that coming from when most jobs can be done for much less in China or India?

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News is an acronym for: Never Eat Without Salt.

From answers.com

"grain of salt

(With) a grain of salt is a literal translation of an ancient Latin phrase, (cum) grano salis.

In common tongue, if something is to be taken with a grain of salt, it means that a measure of healthy skepticism should be applied regarding a claim; that it should not be blindly accepted and believed without any doubt or reservation.

The phrase comes from Pliny the Elder's Naturalis Historia, regarding the discovery of recipe for an antidote to a poison. In the antidote, one of the ingredients was a grain of salt. Threats involving the poison were thus to be taken "with a grain of salt" and therefore less seriously.

To take 'it' with a grain of salt means 'to accept a thing less than fully.' The Oxford English Dictionary dates this usage back to 1647. The terms are not dissimilar – both essentially mean to regard certain things with some understanding and common sense."

Isn't it true that whenever you have first-hand experience of a news event and you read about the story in the newspaper you are always presented with a different 'set of facts'.

Edited by Padiham

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Isn't it true that whenever you have first-hand experience of a news event and you read about the story in the newspaper you  are always presented with a different 'set of facts'.

Absolutely. I know someone who was interviewed by a broadsheet recently. What they published bore only a passing resemblance to the facts. <_<

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The UK's housing market may have turned the corner even though house prices fell for the third consecutive month in September, a leading property website said today.

-snip-

We may look back with hindsight and say that the summer of 2005 was the time to buy at the bottom of this cycle in the housing market,' he added.

However, he stressed that continued 'realistic' pricing is 'critical' to keep the momentum going.

{I bloody well hope not}

http://uk.biz.yahoo.com/050918/323/fsdza.html

I think this is something we need to get used to. The admission of a negative event occurring only comes when the event is believed to be over, and they feel it is a good time to put out some positive news.

The moral of the story may be that VIs believe their own bull. They aren't the brightest bunch afterall - mortgage brokers, EAs. Just a bunch of big talkers.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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