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bomberbrown

Bbc Breakfast - House Prices Report

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Some choice comments:

Steph - BBC Reporter: "Chatting to the residents here, they're struggling to sell their homes and some of them have even had to drop the asking price!"

BBC Reporter: "For house owner, Ruth, who buys and sells on houses as a hobby......."

I had to rewind the TV to believe what I was hearing!

There was also a previous comment (at 6ish) along the lines that house prices not going up was bad for the economy, but I didn't have to rewind to.

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The BBC is opium for the masses. The cultural value of BBC Breakfast is the equivalent of Methamphetamine.

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The BBC is opium for the masses. The cultural value of BBC Breakfast is the equivalent of Methamphetamine.

?

Valium with a sprinkle of smack.

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Without continuous HPI the housing market breaks because the 'owners' wealth is not increasing at the rate it costs to move house, upsize and make repairs.

More often than not someone who bought their first house back in the 2006 bubble for say £130k would have spend another £5k in fees, £30k in mortgage interest and £15k in maintenance (new windows, boiler, kitchen etc,)

We sit here laughing at their 2006 price + 20%, when in fact the 'homeowner' is really losing money at that price and cannot afford to offload their house at a lower price, add in the fact that everyone else is in the same situation and needs that price so that they can pay what everyone else is asking.

That is the system.

The added problems the recent inflation in London has caused is that for most mortgaged buyers in London will never be able to sell unless they can cover asking price+ stamp duty + deposit for the next house.

In essence there will either need to be a lot of bankruptcy's and losses or the market will grind to a halt except for a few transactions in areas where older people have died or banks have repoed.

Every month house price inflate and there are new mortgage transactions, especially high LTV, there will be more misery.

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Presenter ' here its very different - prices here have ONLY risen 5.5% in the past year'

Wtf !!

Then we have local burd trying to sell - had to drop selling price recently - with what she paid for it and renovations she is ONLY now looking at breaking even...

Adds that its annoying when hearing about places like London where prices are rising fast. Then goes on to say she can't wait to sell to give her daughters some money to help them buy a flat in London !!

****** sake do these people not engage their brain ? Staggering.

Edited by ccc

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Saw it earlier, it seems to repeat every half hour.

There was one poor woman in Lancashire who, after having her house on the market for a year, has had to drop the asking price and sell her house for what it cost her three an a half years ago. Much sympathy from Steph, BBC Breakfast's resident ramper.

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Presenter ' here its very different - prices here have ONLY risen 5.5% in the past year'

Wtf !!

Then we have local burd trying to sell - had to drop selling price recently - with what she paid for it and renovations she is ONLY now looking at breaking even...

Adds that its annoying when hearing about places like London where prices are rising fast. Then goes on to say she can't wait to sell to give her daughters some money to help them buy a flat in London !!

****** sake do these people not engage their brain ? Staggering.

It was beyond parody - 'I'll only break even if I'm lucky so I'll plough all the money into peak London' f*ckwit. Deserves everything she'll get.

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That was difficult to watch. I was pacing around. Only the milf in Preston gave my brain a moment of calm from entering a murderous rage.

Recovery = HPI.

70 viewers for a flat in London undergoing refurbishment from someone who flips as a hobby, asking £150K more than it sold, sometime in 2013 as I remember it. Although quite a hottie viewing at the time, who I understand also put in an offer.

Recovery = HPI. And worst of all, the hpcers with their excuses, wanting non-owners to take the pain before buyers who've been pushing up prices for decades. twit off.

It was like some sort of war-reporting, those BBC correspondents out on the streets, with the scary revelation prices could fall, but London just raging away upwards in value. Cuts back to Steph (whyyyyyy her?) in Preston... something about just "5% HPI here."

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Couldn't stand any more of it and switched to Bloomberg, only to get Danny Alexander saying that house prices are still well below where they were in 2007 and "even in 2018 they wont have reached the levels, in real terms, of back then".

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Couldn't stand any more of it and switched to Bloomberg, only to get Danny Alexander saying that house prices are still well below where they were in 2007 and "even in 2018 they wont have reached the levels, in real terms, of back then".

Neither will wages, Beaker.

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Couldn't stand any more of it and switched to Bloomberg, only to get Danny Alexander saying that house prices are still well below where they were in 2007 and "even in 2018 they wont have reached the levels, in real terms, of back then".

Would that 3 and a half year ago price be the same as the 10 and a half year ago price ?

Selective reporting by the BBc me thinks

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It sounds like they were commandeered to issue a "keep calm" report on house prices with some fake facts to keep the typical brain dead viewer from choking on their breakfast and assure bovine-like following of the mainstream train of thought is not challenged.

Good. It means things are very bad and likely to get much worse.

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It was beyond parody - 'I'll only break even if I'm lucky so I'll plough all the money into peak London' f*ckwit. Deserves everything she'll get.

These sorts will be first in line for a bailout as well.

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These sorts will be first in line for a bailout as well.

I think you have missed something....they are the one's encourage to bail out the bankers in London.

When the time comes, the debtors wont be bailed. There has been a definite selling opportunity for 6-9 months from June last year.

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It was beyond parody - 'I'll only break even if I'm lucky so I'll plough all the money into peak London' f*ckwit. Deserves everything she'll get.

Just on again ' just had to reduce its VALUE' - FFS the lack of thinking is extreme.

It is rather interesting to watch this and then have a read if the London bubble thread - its already bursting there - its underway - yet the BBC are reporting on more or less how London was about 6 months ago.

Lack of research or pure propaganda ?

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Just on again ' just had to reduce its VALUE' - FFS the lack of thinking is extreme.

It is rather interesting to watch this and then have a read if the London bubble thread - its already bursting there - its underway - yet the BBC are reporting on more or less how London was about 6 months ago.

Lack of research or pure propaganda ?

I think the personal financial situation of the presenters probably plays a part.

Edited by Bruce Banner

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Main presenter Charlie Stayt "[there are] fears the cost of buying a home is shooting up too fast in the capital".

Only fears?

Too fast? How fast is good?

There will be more fears when the shoot down.

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Main presenter Charlie Stayt "[there are] fears the cost of buying a home is shooting up too fast in the capital".

Only fears?

Too fast? How fast is good?

+1

Hated the way that both mortgage advisers towed the line that with so many cash buyers in London the new rules will only hurt the shires.

Be interesting to see the comments when the cash rich foreign investors want to get their cash out.

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Without continuous HPI the housing market breaks because the 'owners' wealth is not increasing at the rate it costs to move house, upsize and make repairs.

More often than not someone who bought their first house back in the 2006 bubble for say £130k would have spend another £5k in fees, £30k in mortgage interest and £15k in maintenance (new windows, boiler, kitchen etc,)

We sit here laughing at their 2006 price + 20%, when in fact the 'homeowner' is really losing money at that price and cannot afford to offload their house at a lower price, add in the fact that everyone else is in the same situation and needs that price so that they can pay what everyone else is asking.

That is the system.

Correct.

And everyone thinks it is normal. Those of us that expect prices to correct are in the minority.

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BBC presenter in London "It's just come on the market for nearly £500K , that's about £170K more than when it was last sold just 8 months ago, but Paula's been house hunting for the past year and knows how quickly properties like this are snapped up.......".

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