WSG Posted January 28, 2006 Share Posted January 28, 2006 If your up early this sat morning then Breakfast News BBC - are about to do something about first time buyers falling to low levels - no s+++ sherlock!!! Quote Link to comment Share on other sites More sharing options...
Guest The_Oldie Posted January 28, 2006 Share Posted January 28, 2006 Shared ownership, parental help, inheritance, all were suggested as ways of getting onto the ladder. The man from Charcoal Mortgages said that whilst the first time buyer market was down in the first half of last year, it picked up to a similar level to the previous year in the second half........ There were a number of doomsters suggesting the market may fall 20 or 30% and that naturally put first time buyers off Quote Link to comment Share on other sites More sharing options...
sign_of_the_times Posted January 28, 2006 Share Posted January 28, 2006 The man from Charcoal Mortgages said that whilst the first time buyer market was down in the first half of last year, it picked up to a similar level to the previous year in the second half........ There were a number of doomsters suggesting the market may fall 20 or 30% which obviously put first time buyers off does he mean us ? wonder which forum ID belongs to Boulger ? (obviously not zorn!) funny how he tried to make out that was then, but everythings back to normal now ! shame the bbc can't find it within themselves to ask some tough questions Quote Link to comment Share on other sites More sharing options...
Richard Posted January 28, 2006 Share Posted January 28, 2006 The man from Charcoal Mortgages said that whilst the first time buyer market was down in the first half of last year, it picked up to a similar level to the previous year in the second half........ Yes and their successful case study had actually inherited her deposit. Saw both interviews and they both wound me up - the second one in particular. Images of those young people enjoying a dinner party didn't do anything to help the perception that FTBs aren't willing to go without in order to achieve their aim. I scrapped my socialising budget 3 yrs ago. All in all - very unhelpful to the HPC cause. Quote Link to comment Share on other sites More sharing options...
ronnie Posted January 28, 2006 Share Posted January 28, 2006 If your up early this sat morning then Breakfast News BBC - are about to do something about first time buyers falling to low levels - no s+++ sherlock!!! no mention of the regional house price falls of last 3months 2005 at all more drivel from the banal broadcasting corporation Quote Link to comment Share on other sites More sharing options...
Andrew McP Posted January 28, 2006 Share Posted January 28, 2006 (edited) The Charcoal man lost me as soon as he muttered about parents being able to help their children out with deposits because they'd made so much profit on their own homes. I take it all those parents STRed to realise that "profit" then? He also went on about FTBs being put off in the first part of last year by doomsters claiming there'd be a 20-30% correction, then confidence returning later on. He also mentioned that some lenders will lend up to 5x joint salaries now... without bothering to mention that you'd have to be a complete and utter muppet to stretch yourselves that far. I had hopes for that item but it fell flat on its face. The woman FTB interviewed could only buy because (1) she'd had an inheritance and, (2) it was some kind of housing association deal... though exactly what that was didn't come out in the interview unless I blinked and missed it. Poor bit of work that, no real balance at all, just the basic message that there are ways for FTBs to buy if the circumstances are right. Andrew McP Edited January 28, 2006 by Andrew McP Quote Link to comment Share on other sites More sharing options...
WSG Posted January 28, 2006 Author Share Posted January 28, 2006 I took from this that there's now going to be a bit of an effort to more actively "push" shared ownership by FTB and to try and pressure people to mew to help out their kids - pretty shoddy stuff and proper questioning by the BBC Quote Link to comment Share on other sites More sharing options...
Nijo Posted January 28, 2006 Share Posted January 28, 2006 On again at 9 with an interview with some VIs: FTB type houses are selling on the day they come on the market You can get a good mortgage these days where the repayment is approximately the same as rental costs, I think We should worry about the low number of FTBs as the chains can't move and it will stagnate the property market. The government should help more with shared ownership schemes Quote Link to comment Share on other sites More sharing options...
Guest The_Oldie Posted January 28, 2006 Share Posted January 28, 2006 Auntie Beeb are in overdrive spin mode this morning. Three or four different articles repeated every twenty minutes or so with a common theme... Borrow from you parents. Consider shared ownership. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 28, 2006 Share Posted January 28, 2006 (edited) Auntie Beeb are in overdrive spin mode this morning. Three or four different articles repeated every twenty minutes or so with a common theme... Borrow from you parents. Consider shared ownership. And this is the "miracle economy" is it? A country where young people can no longer afford to live a normal life and live in their own home. This government has created homelessness on a scale unimagined by previous generations. It is time for them to resign in disgrace. :angry: Let them (FTBs) eat cake.....! Edited January 28, 2006 by Realistbear Quote Link to comment Share on other sites More sharing options...
Spirit Posted January 28, 2006 Share Posted January 28, 2006 On again at 9 with an interview with some VIs: I loved the way the Property "expert" made a slip and had to correct herself...she was talking about the market being dead and added "err..well it was last year" Even the EA had trouble keeping a straight face when he stated that 180K maisonnettes were selling for the asking price on the day they went on the market! such obvious spin! Quote Link to comment Share on other sites More sharing options...
homeless Posted January 28, 2006 Share Posted January 28, 2006 lets have a ******ing riot Quote Link to comment Share on other sites More sharing options...
Goat Posted January 28, 2006 Share Posted January 28, 2006 I loved the way the Property "expert" made a slip and had to correct herself...she was talking about the market being dead and added "err..well it was last year" Even the EA had trouble keeping a straight face when he stated that 180K maisonnettes were selling for the asking price on the day they went on the market! such obvious spin! I was struck by the one sided nature of the 9 am piece. Headline was FTB's down to 25 year low then the interview went as follows: "So this is a typical FTB property, a 1 bed maisonette with garden: £180,000". Chap from Haarts: "These sort of properties are going for the asking price on the day they come on the market" Independent property consultant: "think that FTB's need more help in the form of shared ownership etc" National Savings & Investments: "FTB's need to be thinking about saving for the next 5 years to get on the ladder" What utter F***ing bulls***! :angry: Not one f***ing suggestion that FTBs at a 25 year low equals a f***ed property market. Not even the slightest hint that this might mean a "correction" in prices :angry: :angry: :angry: :angry: :angry: Quote Link to comment Share on other sites More sharing options...
HenryWeston Posted January 28, 2006 Share Posted January 28, 2006 : "FTB's need to be thinking about saving for the next 5 years to get on the ladder" thats what im doing, saving for at least the next 5 years, then i might think about buying, prices may have come down by then, if not, ****** buying a house i'll be buying a yacht to live on much more fun than some tiny 2 bed terrace on a shit estate Quote Link to comment Share on other sites More sharing options...
Fancypants Posted January 28, 2006 Share Posted January 28, 2006 what an outrageous betrayal :angry: I thought if her as a member of my family, I trusted her to look after me... all the time Auntie was just pimping me to feather her own nest... smiling warmly and re-assuringly as she did so. it's shameful because of the amount of people who view the BBC completely uncritically. What a shocking abose of trust. We should storm television centre! Invade the evening news! Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 28, 2006 Share Posted January 28, 2006 (edited) I emailed the blooddy BBC this: On your first time buyers piece this morning you - astoundingly - asked an estate agent about the state of the market. Like he's going to say anything other than the market is strong - particularly when it is the weakest its been for a decade. Then you called the 'property woman' independent - and its very clear from what she said she has every bit a vested interest in talking the housing market up as the agent. Why oh why BBC News will you not have true impartial people commenting on the housing market when you do such pieces. I am Chartered Financial Planner (see www.charteredfinancialplanner.co.uk) and I have no vested interest in talking up or down the market. I am an independent and impartial financial adviser who cares about my clients and that the true message gete out. The housing market is dying. You and others are continuing to perpetuate ther myth that it is a good time to buy property - IT IS NOT! It is a terrible time to buy residential (or commercial) property. Values will fall over the next 4 - 6 years. Then where will the 'rent is dead money' nonsense be? In a rising market rent is dead money. But the market, in the south east has not risen for well over a year and the north will follow. The south will fall by 30 - 50% over the next 5 years or so. It never ceases to amaze me that people will happily accept that the asset class (housing) can rise 200% in a decade but that to suggest it can (and will) fall 30-50% over 5 years - people look at you as if you're the Devil or from outer space. The fact is I charge for my expertise and my clients are selling their buy-to-lets and certainly not trading up or buying first time. My clients will bring their retirement forward at least 5 years. BBC - get someone on to talk about housing who a) knows the economics behind the market and b ) has no vested interest. What you did today and so so many times before is public dis-service broadcasting. Edited January 28, 2006 by Financial Planner Quote Link to comment Share on other sites More sharing options...
DoubleBubbleTrouble Posted January 28, 2006 Share Posted January 28, 2006 Well I don't know about you guys but this segment for me crossed the line into biased government proganda and I'm going to complain about it (again). http://www.ofcom.org.uk/tv/ifi/codes/bcode/undue/ The BBC has a duty in it's charter to report in an unbiased manner. I suggest if you're angry about it you should complain too, it might not seem important but the more who complain the more pressure on them to knock it off. http://www.bbc.co.uk/complaints/ http://www.ofcom.org.uk/complain/ And of course don't forger your MP & MSP or whatever. Quote Link to comment Share on other sites More sharing options...
Culpability Brown Posted January 28, 2006 Share Posted January 28, 2006 Good on you FP for taking the time to do this. It's essential during times like this that the expert community are prepared to speak out and counter balance what is clearly unfounded VI spin. Who's interests do the BBC truly represent? Licence fee payers? I think not! Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 28, 2006 Share Posted January 28, 2006 The BBC has a duty in it's charter to report in an unbiased manner. I suggest if you're angry about it you should complain too, it might not seem important but the more who complain the more pressure on them to knock it off. http://www.bbc.co.uk/complaints/ http://www.ofcom.org.uk/complain/ And of course don't forger your MP & MSP or whatever. Thanks DBT. I've registered the same as a complaint. Anyone else who goes there - make sure you do not click you want to comment - they'll only be interested in complaints. Quote Link to comment Share on other sites More sharing options...
Tester Posted January 28, 2006 Share Posted January 28, 2006 I've just complained about the lack of balance also. Quite disgusting. Took less than 3 minutes to do. Everyone should do it. Quote Link to comment Share on other sites More sharing options...
apom Posted January 28, 2006 Share Posted January 28, 2006 The Charcoal man lost me as soon as he muttered about parents being able to help their children out with deposits because they'd made so much profit on their own homes. I take it all those parents STRed to realise that "profit" then? Andrew McP the profit... someone.. som BBC interviewer has to say. But surely its only profit if you sell the home.. I hate to say it, only BTL have made money on equity.. Providing you make the logical assumption that you have to actually live somewhere. Otherwise its just debt.. When I made that point I thought... people are going to read this.. and think.. thank you apom.. state the obvious.. yawn.... it is obvious isn't it.. TTRTr's may have made equity in his property that he can realise by selling. my parents have tonnes of equity, as they have paid of their mortgage.. "Hello mum. dad.. fancy getting a mortgage again.. I need a deposit..?" "Why son, of course we don't mind.." Genius.. wish I thought of that one before. I was struck by the one sided nature of the 9 am piece. Headline was FTB's down to 25 year low then the interview went as follows: "So this is a typical FTB property, a 1 bed maisonette with garden: £180,000". Chap from Haarts: "These sort of properties are going for the asking price on the day they come on the market" Independent property consultant: "think that FTB's need more help in the form of shared ownership etc" National Savings & Investments: "FTB's need to be thinking about saving for the next 5 years to get on the ladder" What utter F***ing bulls***! :angry: Not one f***ing suggestion that FTBs at a 25 year low equals a f***ed property market. Not even the slightest hint that this might mean a "correction" in prices :angry: :angry: :angry: :angry: :angry: and he actually was stood in a one bed and suggested shared ownership.. bless him.. some will sell on the day they come onto the market.. and whoever buys them.. good luck there matey.. I would cut of one of my arms before I would buy at todays prices.. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 28, 2006 Share Posted January 28, 2006 (edited) I just sent my complaint also. Lets make it a flood. Complaint: Breakfast News BBC 28th January 2006. The BBC is in danger of losing its reputation for unbiased reporting. The property market is being presented as an ever increasing phenomena whereas many areas in the UK have seen sharp decrease. I am in the W Midlands and for my region, Wychavon, Nationwide report averaghe prices DOWN for 2005 by 5.4%. Many areas in the UK are far worse. First time buyers are priced out like never before and BBC report this as 'good news' and ignore the tragedy of young people having to live at home into their early adulthood or renting squalid flats. Debt is epedemic with the reposession rate up over 60% nationwide due to inability to pay mortgage arrears. Unemployment is increasing in the UK while GDP is falling and Brown's deficit is near 5%. For good ness sake lets have some reporting on the reality--house prices are killing this country and it is not good news. Edited January 28, 2006 by Realistbear Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted January 28, 2006 Share Posted January 28, 2006 I would cut of one of my arms before I would buy at todays prices.. Things are bad, alright, but I think I'd keep the arm. Quote Link to comment Share on other sites More sharing options...
marko Posted January 28, 2006 Share Posted January 28, 2006 Dear BBC, I am afraid that over the course of the last 6 months I have become convinced that you are no longer impartial in your news reporting. The BBC has a fine and longstanding reputation for impartiality, and I fear that this is being eroded by your refusal to report the house price bubble in anything but a rosy light. I have seen repeated bias, one-sided reporting, and referral to 'experts' who always have a vested interest in maintaining the housing bubble. This morning I had to sit through what I can only call propaganda for the vested interests in the housing market disguised as news. Advising prospective first time buyers to share-ownership, use inherited money, or most ridiculously suggest that they access the equity in their parents home to finance a purchase is not just irresponsible given the precarious state of the housing market...it suggests a deliberate attempt to maintain the influx of newcomers to a market that is already on the edge of collapse due to quite simply silly price levels. There will be a substantial house price correction in the coming years - this is economically irrefutable. If you wish to maintain your reputation for impartiality and integrity, I suggest you consider what the general public will think of your organisation's 'news' (i.e. biased advice) when their houses are being repossessed. Regards, Marko Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 28, 2006 Share Posted January 28, 2006 Dear BBC, I am afraid that over the course of the last 6 months I have become convinced that you are no longer impartial in your news reporting. The BBC has a fine and longstanding reputation for impartiality, and I fear that this is being eroded by your refusal to report the house price bubble in anything but a rosy light. I have seen repeated bias, one-sided reporting, and referral to 'experts' who always have a vested interest in maintaining the housing bubble. This morning I had to sit through what I can only call propaganda for the vested interests in the housing market disguised as news. Advising prospective first time buyers to share-ownership, use inherited money, or most ridiculously suggest that they access the equity in their parents home to finance a purchase is not just irresponsible given the precarious state of the housing market...it suggests a deliberate attempt to maintain the influx of newcomers to a market that is already on the edge of collapse due to quite simply silly price levels. There will be a substantial house price correction in the coming years - this is economically irrefutable. If you wish to maintain your reputation for impartiality and integrity, I suggest you consider what the general public will think of your organisation's 'news' (i.e. biased advice) when their houses are being repossessed. Regards, Marko 10/10 Splendid letter! Quote Link to comment Share on other sites More sharing options...
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