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apom

To The Guests..

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so I thought I should give my opinion on all of this..

firstly this site seems a little confusing and you will see an undercurrent of frustration and anger.

To that end please bare with us.. for the most part we are not looking at home buying as a risky investment and we are not bitter that we have missed the boat on fantastic fiscal gains as house prices rocketed..

for the most part we are frustrated that we are unable to buy, or at the very least unwilling to take on massive debt that we would worry about paying of. We just want a home.

Things to consider:

The housing market is a cyclical market, it has always swung around the average house costing 4 times the average income. this can be seen clearly over a great many years.

Prices hit the top in 2004 and most measures show at least stagnation since then, many showing drops..

People are becoming bankrupt at the fastest ever rate.

Large Buy To Let mortgage lenders are refusing to give mortgages against new build properties, stating as one reason what they see as an oversupply. a fact that reduces potential buyers..

SIPP's, where residential peoperty could be attached to a pension for massive tax breaks will now not let that happen, this was for a long period reported as the saviour of the housing market. a fact that reduces potential buyers even further.

The high street is seeing it's hardest period in history as it battles against reduced customer spending.

Personal debt levels have risen from around £500,000,000,000 to over £1,100,000,000,000 durring the boom.

Completed sales of homes were at a 30 year low in 2005, 30 years ago it was durring the end of the three day working week crisis.

New builds are offering massive cash back offers.

Inflation is now being kept very low. Inflation is no longer to pay of peoples mortgages.

1/5 of all outstanding mortgage debt in 2004 had never had income verified against the loan. These mortgages are being restricted by the FSA.

and there has never been a bubble that has not burst in history and even Gordon Brown has described the Housing Market as a bubble, adding that it hasn't burst..

Mervin King said a year ago that "Debt is real, but house prices are a matter of opinion..."

so use this site, forgive us our grammar, spelling and random strops...

Its hard out there, so go pre-armend into any decision with all the information you can find.

Edited by apom

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  • 302 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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