Bruce Banner Posted April 2, 2014 Share Posted April 2, 2014 BBC News are leading with the "Good News" that house prices are up everywhere. The presenters, however, seemed a bit concerned that "Help to buy" is helping the builders more than the borrowers. http://www.bbc.co.uk/news/business-26844488 http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/Mar_2014.pdf The overall average value now stands at £180,264, but that is still 3% below the 2007 house price peak. History has been re-written. Labour's house price bubble never existed. There is no bubble because prices are still below the 2007 peak . Quote Link to comment Share on other sites More sharing options...
frederico Posted April 2, 2014 Share Posted April 2, 2014 Saw a bit of this, absolutely mental. Quote Link to comment Share on other sites More sharing options...
Ultra Fox Posted April 2, 2014 Share Posted April 2, 2014 "The housing market recovery is now fully established" Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted April 2, 2014 Share Posted April 2, 2014 It would be nice to see figures with London stripped out & new builds stripped out - since newbuilds are now subsidized. Quote Link to comment Share on other sites More sharing options...
olde guto Posted April 2, 2014 Share Posted April 2, 2014 Has anyone ever submitted an FoI request to the BBC about any property investments their presenters have because this is clearly highly biased reporting? Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted April 2, 2014 Author Share Posted April 2, 2014 Has anyone ever submitted an FoI request to the BBC about any property investments their presenters have because this is clearly highly biased reporting? Yup, they now have a first time buyer (helped by help to buy) and a ramping "property expert" on the sofa. Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted April 2, 2014 Share Posted April 2, 2014 Yup, they now have a first time buyer (helped by help to buy) and a ramping "property expert" on the sofa. Ha... the worst one yet! Property expert (...Faulkner????): "Good time to buy.... rising prices help FTBs..." FTB: "I've factored in paying my HTB mortgage over the coming years...... but only at today's rates....do rates rise much? I'm no property expert." FFS!!! Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted April 2, 2014 Share Posted April 2, 2014 Buying the property is easy. People forget the hard bit is the mortgage. It is what the property market is all about..it is the foundation of the banks, it is the key to feelgood and voter confidence. It is so much more than the natural right to hold front door key. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted April 2, 2014 Author Share Posted April 2, 2014 Buying the property is easy. People forget the hard bit is the mortgage. It is what the property market is all about..it is the foundation of the banks, it is the key to feelgood and voter confidence. It is so much more than the natural right to hold front door key. Property expert, Kate Faulkner, said "if you get into trouble - rent it out" Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted April 2, 2014 Author Share Posted April 2, 2014 Just flicked over (briefly) to Sky News to see the grinning celebrity property developer that takes a bath in banknotes sitting on the sofa . Quote Link to comment Share on other sites More sharing options...
Venger Posted April 2, 2014 Share Posted April 2, 2014 Property expert, Kate Faulkner, said "if you get into trouble - rent it out" And people wonder why I want no mercy, and allow same contempt to older VI property interests as they give to us. Despite all their qualifications, this mindset of forever HPI. 27 September 2013 (iplayer video in article)Do you think there's a danger of a bubble? Kate Faulkner: I don't think there is; we've been talking about this for 5 or 6 months (laughing), and house prices and house price growth even at 5% is not back to it's long term average which is inflation plus 2.8%. SO we've still got a long way to go and we've still got 6 years of an AWFUL.. HUGE FALLS in house prices that we've got to catch up on. So we've got another 5 plus years to go before house prices are back to where they should be. http://www.bbc.co.uk/news/business-24293971 Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted April 2, 2014 Share Posted April 2, 2014 Property expert, Kate Faulkner, said "if you get into trouble - rent it out" no responsibility is perfect...if you fail, keep on and prosper. Banks dont want or need your money back. Indeed, banks dont need us at all. Just wondering why, being alien lizards, they stay here at all... Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted April 2, 2014 Share Posted April 2, 2014 (edited) Backs up my recent commentary on the Market that it is slowing and we are heading back to the stagnation we saw in the early part of last year. It appears HTB2 is running out of steam. The next push will come when boomers are handed the keys to their six figure pension pots and no doubt like HTB2 there might be a bit of pre-empting speculation from the end of this year. The Market is clearly broken as stagnation follows every stimulus package. Already I am seeing stuff stuck on the Market that didn't clinch it in the favourable sellers market that persisted around Christmas. But Market reset to the correct level to allow normal volumes is clearly not on the agenda, least of all from the Metropolitan elite Labour party that tend to have all their eggs in the property basket, not least their leader. Edited April 2, 2014 by crashmonitor Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted April 2, 2014 Share Posted April 2, 2014 Buying the property is easy. People forget the hard bit is the mortgage. It is what the property market is all about..it is the foundation of the banks, it is the key to feelgood and voter confidence. It is so much more than the natural right to hold front door key. That just about sums it up. Rising property prices = feel good factor = higher consumer borrowing. Exhibit 1: Here you can clearly see that last years property propaganda kicked people into borrowing more as they felt richer. The borrowed money goes into the economy creating jobs and increasing GDP. This in turn increases banks confidence to lend into the property market and prices rise. It is a positive and unregulated feedback loop. Using the measurement of house price inflation to restrict credit would dampen the cycle, but then this would end boom-and-bust and the VI's rely on that to fleece the sheeple. Reference Quote Link to comment Share on other sites More sharing options...
btl_hater Posted April 2, 2014 Share Posted April 2, 2014 Property expert, Kate Faulkner, said "if you get into trouble - rent it out" Jesus Christ! Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted April 2, 2014 Author Share Posted April 2, 2014 That just about sums it up. Rising property prices = feel good factor = higher consumer borrowing. Hence Funding for lending, Help to buy 1, Help to buy 2 and constant government ramping (PM and Chancellor in yellow jackets on building sites) ahead of the election. This is the reason that I shall be voting UKIP, the only party that doesn't have a proven track record of inflating house prices for short term political gain. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted April 2, 2014 Share Posted April 2, 2014 Jesus Christ! Never going to work in rural areas...what's the yield about 3% tops. Quote Link to comment Share on other sites More sharing options...
Quicken Posted April 2, 2014 Share Posted April 2, 2014 This is the reason that I shall be voting UKIP, the only party that doesn't have a proven track record of inflating house prices for short term political gain. Nonsense. The monster raving loons have no such track record. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted April 2, 2014 Share Posted April 2, 2014 Hence Funding for lending, Help to buy 1, Help to buy 2 and constant government ramping (PM and Chancellor in yellow jackets on building sites) ahead of the election. This is the reason that I shall be voting UKIP, the only party that doesn't have a proven track record of inflating house prices for short term political gain. The thing is you know it's unsustainable and the politicians know it's unsustainable - but they still go ahead and create an unsustainable boom anyway. I think that comes down to greed. The general public are happy for a while, the politicians and bankers are happy fleecing the happy public. Managing the bust is just part of the BOE and politicians job role. What alternative is there that can be achieved in a 5 year election cycle and where is the money coming from to create a sustainable economy? If the conservatives had managed to create an alternative to boom and bust, what is to say that Labour wouldn't get in and return to boom and bust. The UK needs to fail big, the bigger the fail then the bigger the lesson that will be learnt. Until the UK fails the boom and bust cycles will continue. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted April 2, 2014 Share Posted April 2, 2014 "The housing market recovery is now fully established" Until it isn`t. Newsnight were on this last night, Paxman now saying things like "Are high house prices a good thing?" The sheeple are being gently manouvered to accept the inevitable. Didn`t realise that the dodgy shifty sales type guy answering the questions was actually a government minister, thought he was some EA wide boy Rising rates are going to be the financial end of many people in this country. Quote Link to comment Share on other sites More sharing options...
Quicken Posted April 2, 2014 Share Posted April 2, 2014 Until it isn`t. Newsnight were on this last night, Paxman now saying things like "Are high house prices a good thing?" The sheeple are being gently manouvered to accept the inevitable. Didn`t realise that the dodgy shifty sales type guy answering the questions was actually a government minister, thought he was some EA wide boy Rising rates are going to be the financial end of many people in this country. Shappsy? Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted April 2, 2014 Share Posted April 2, 2014 The thing is you know it's unsustainable and the politicians know it's unsustainable - but they still go ahead and create an unsustainable boom anyway. I think that comes down to greed. The general public are happy for a while, the politicians and bankers are happy fleecing the happy public. Managing the bust is just part of the BOE and politicians job role. What alternative is there that can be achieved in a 5 year election cycle and where is the money coming from to create a sustainable economy? If the conservatives had managed to create an alternative to boom and bust, what is to say that Labour wouldn't get in and return to boom and bust. The UK needs to fail big, the bigger the fail then the bigger the lesson that will be learnt. Until the UK fails the boom and bust cycles will continue. Very different world today than the one leading up to `08 though? Plenty of room for outside factors to play a big part, can`t wait to see the morning chat show sofas when it is taken out of the control of the UK VI`s And they can`t cut rates any more to "save us" this time? Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted April 2, 2014 Share Posted April 2, 2014 http://www.bbc.co.uk/iplayer/episode/b04004q1/Newsnight_01_04_2014/ Shappsy? Quote Link to comment Share on other sites More sharing options...
Craig_ Posted April 2, 2014 Share Posted April 2, 2014 Property expert, Kate Faulkner, said "if you get into trouble - rent it out" Maybe I'm being slow, but isn't there a fundamental problem with that scenario?! Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted April 2, 2014 Author Share Posted April 2, 2014 Maybe I'm being slow, but isn't there a fundamental problem with that scenario?! Particularly so as the scenario was one of divorce and other unexpected events. Quote Link to comment Share on other sites More sharing options...
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