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juvenal

Best Time Ever To Take Out A Mortgage

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http://www.dailymail.co.uk/news/article-2948079/Buy-home-say-experts-mortgage-rates-hit-record-low-ve-got-decent-deposit.html

Wasn't the Telegraph saying the same today?

'Experts said two-year fixed rates could fall below 1 per cent while five-year mortgages could go below 2 per cent'

Edited by juvenal

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http://www.housepricecrash.co.uk/forum/index.php?/topic/203193-borrow-now/?p=1102667653

Sky News are cheerfully reporting the Mail headline as...........

"Good news for home buyers on the Mail front page, experts say the next six months could be the best time ever to take out a mortgage".

Well, yes, if your your aim is to spend as much as you can borrow on an overpriced illiquid asset, it probably is :rolleyes:.

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no, that message is to reassure the reticent, that everyone else will get in while its cheap, using fear of missing the boat as the tool to get people to make that commitment.

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Heard that on talk houses ( sport ) on the way to work.

They said...best time every to take out a mortgage....because.......drum rool please.....no one is buying a house.

:D:D:D:D

Isn't that the worse time to take out a mortgage ?

The music just stopped.

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Meanwhile I'm considering ways I can avoid a mortgage.

6 years in a place I deem a "$hithole"

Come back & buy a house in cash at the sweet age of 34

Only one problem with that though - I may go insane....

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In the Thisismoney video at the end of the Mail article they spent 8.34 minutes saying how cheap mortgages are but didn't mention how absurdly expensive house prices are. They didn't even mention the level of house prices.

"This is Money is part of the Daily Mail, Mail on Sunday & Metro media group"

Edited by billybong

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What better than the 1970s when interest rates were high but wage inflation was higher (= negative real interest rates), so high that the mortgage was peanuts after a few years and you could upsize? Maybe not.

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Capital in the 21st Century. The people (normal people) are finding it hard to scrabble around trying to save enough capital of meaningful size to put down for a deposit for a house. They have to lower rates to such absurd levels just to get on the ladder, and once they are on it, they will still find it hard to save capital for their own business, or savings. This is f***ed up.

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Capital in the 21st Century. The people (normal people) are finding it hard to scrabble around trying to save enough capital of meaningful size to put down for a deposit for a house. They have to lower rates to such absurd levels just to get on the ladder, and once they are on it, they will still find it hard to save capital for their own business, or savings. This is f***ed up.

Neal Hudson has a useful chart on deposits, for a UK first time buyer the average deposit peaked at just over 100% of annual income in late 2009, it's fallen ever since and is now under 70%. London, as you might expect, is a different story, a first time buyer in London needs a deposit equal to about 120% of their income and apart from the last couple of months the trend line is climbing.

There's lots more interesting stuff on his site,

https://twitter.com/resi_analyst

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