r thritis Posted February 2, 2006 Share Posted February 2, 2006 http://www.whatmortgageonline.co.uk/news1/...p?unqueid=16130 Some great quotes in here: "However, would-be buyers are finding obstacles in the way of saving such as low salary, debt, high rent payments and lack of discipline. " I guess you could say these are slight obstacles! Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted February 2, 2006 Share Posted February 2, 2006 http://www.whatmortgageonline.co.uk/news1/...p?unqueid=16130 Some great quotes in here: "However, would-be buyers are finding obstacles in the way of saving such as low salary, debt, high rent payments and lack of discipline. " I guess you could say these are slight obstacles! I think it's a great time to buy a Ferrari. There's a bit of an obstacle though............ Quote Link to comment Share on other sites More sharing options...
ExeC Posted February 2, 2006 Share Posted February 2, 2006 It makes me so angry as a first time buyer, obsticles such as "huge debts and low salarys" ITS JUST HIGH HOUSE PRICES it makes me so angry they waffle this ******** all day every day, churning out these dog shite articles. No first time buyers think the time is right, hence hardly any first time buyers, the ones getting on are desprate, theres nothing right about the time at the moment, why such bollx all the time, it gets me so mad. Quote Link to comment Share on other sites More sharing options...
MattLG Posted February 2, 2006 Share Posted February 2, 2006 why such bollx all the time, it gets me so mad. I know how you feel. It's all just playing with words and spin. What makes me even madder is that so many people are stupid enough to swallow it without engaging their brains. MattLG Quote Link to comment Share on other sites More sharing options...
sanddancer Posted February 2, 2006 Share Posted February 2, 2006 The lack of discipline bit annoyed me - I have saved what should be a pretty decent deposit & am saving about a third of what I earn each month (I don't very much so can't really save any more). Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted February 2, 2006 Share Posted February 2, 2006 The lack of discipline bit annoyed me - I have saved what should be a pretty decent deposit & am saving about a third of what I earn each month (I don't very much so can't really save any more). I know what you mean. I have what would've been 50% deposit on a house 5 years ago. Now its about 25% for the same type of property. Quote Link to comment Share on other sites More sharing options...
2005 Posted February 2, 2006 Share Posted February 2, 2006 I know what you mean. I have what would've been 50% deposit on a house 5 years ago. Now its about 25% for the same type of property. If it makes you angry it will be making every other FTB angry as well. The young who are out partying every night and buying Ipods are not serioulsy looking to buy property. They are having a bit of fun while they are young and there is nothing wrong in that. Any serious FTB's who are watching the market and are desperately trying to get on the property ladder will be saving as hard as they can and they will not be pleased by remarks like this. Comments like this just annoy serious FTB's and make them question the 'experts' even more. Quote Link to comment Share on other sites More sharing options...
theChuz Posted February 2, 2006 Share Posted February 2, 2006 I think it's a great time to buy a Ferrari. There's a bit of an obstacle though............ bloody petrol prices? Quote Link to comment Share on other sites More sharing options...
Goat Posted February 2, 2006 Share Posted February 2, 2006 (edited) This report makes me angry as well. The spin is house prices are fine, its just the stupid lazy buyers who aren't earning enough to pay them. You should all get second jobs and work 14 hours a day, 7 days a week to buy your 1 bed ex council flat. :angry: :angry: :angry: :angry: :angry: :angry: :angry: :angry: Edit: even more angry 'cos the board won't let me post enough smilies :angry: Edited February 2, 2006 by Young Goat Quote Link to comment Share on other sites More sharing options...
Given Up Posted February 2, 2006 Share Posted February 2, 2006 I know what you mean. I have what would've been 50% deposit on a house 5 years ago. Now its about 25% for the same type of property. This is probaly a really stupid question but if you had a 50% deposit 5 years ago, what stopped you buying then? Quote Link to comment Share on other sites More sharing options...
MarkG Posted February 2, 2006 Share Posted February 2, 2006 This is probaly a really stupid question but if you had a 50% deposit 5 years ago, what stopped you buying then? Hint: maybe the fact that they didn't have a 50% deposit five years ago? I have what would have been a 50% deposit on a nice house five years ago: but I didn't have it then, and today it would be more like a 15-20% deposit on the same house. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted February 2, 2006 Share Posted February 2, 2006 I think it's a great time to buy a Ferrari. There's a bit of an obstacle though............ I'm sure you could stretch to one of these beauties: Ferrari Quote Link to comment Share on other sites More sharing options...
MarkG Posted February 2, 2006 Share Posted February 2, 2006 Mondials are a bit naff though... plus if you can't afford a couple of thousand every 12,000 miles for servicing, it doesn't matter how cheap the are to buy . Quote Link to comment Share on other sites More sharing options...
North London Rent Girl Posted February 2, 2006 Share Posted February 2, 2006 To be fair, the article does go on to say: "However, a quarter of those surveyed for Abbey’s first-time buyer report, believe that house prices will fall and they are waiting for a better price before they buy. Abbey’s chief economist, Barry Naisbitt, said: “The proportion of first-time buyers that feel they need to buy now has doubled since last year. However, we would urge first-time buyers not to panic buy because purchasing a property is a significant commitment that requires careful consideration. If our forecast for house price inflation of 2 per cent this year is correct, then this suggests that there is less pressure to buy than if house prices were rising at 20 per cent per year.” He advises any young people thinking of buying to save up as big a deposit as possible to get the best start." Given the kind of things one finds in the media, this seems positively bear-like to me! Someone saying that a quarter of FTBs think that prices will fall? What heresy!! Who wrote this calumny?! Burn them, burn them, someone rouse the mob and set up the ducking-stool!! Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted February 2, 2006 Share Posted February 2, 2006 (edited) This is probaly a really stupid question but if you had a 50% deposit 5 years ago, what stopped you buying then? I didnt have that deposit then. Mind you I did buy in 2000 - but sold in 2001 to buy with ex-girlfriend. Made a stupid decision and bought a brand new show home - which didn't go up in value. Split with the ex and made hardly anything on the house (and then it was split 50/50) and found myself unable to buy again! How we live and learn. Been a good life lesson though, I will be choosier in what I buy next time - to ensure its fair priced and easy to re-sell. Edited February 2, 2006 by OzzMosiz Quote Link to comment Share on other sites More sharing options...
pyewackitt Posted February 2, 2006 Share Posted February 2, 2006 The article reads: "Most prospective homeowners aim to have more than £13,000 as a deposit. Most first-time buyers save up for their deposits, but there is also a reliance on family for support. Abbey found that 40 per cent save up for a deposit personally, 29 per cent save with a partner, 11 per cent save, but also get family help, 7 per cent rely on an inheritance and 4 per cent intend to take out a 100 per cent mortgage." So if we take the accepted figure of 7% of new mortgages being FTB's then this breakdown indicates that less than 3% of all mortgages are taken out by someone who has saved by themselves to buy a house! In fact 2.8% of all current mortgages are taken out by someone who has done the saving themselves. I'll bet good money that's the lowest level in mortgage history! - Pye (Property speculation ninja ) Quote Link to comment Share on other sites More sharing options...
dogbox Posted February 2, 2006 Share Posted February 2, 2006 it makes me so angry they waffle this ******** all day every day, churning out these dog shite articles. 'DOG SH1TE ARTICLES', in your opinion. You just have to accept that such people do not feel the same way as you. It maddens me that the Earth is massively overpopulated and all I see in my country is the call for never ending development with no - one calling for a full and final halt. This does'nt madden others, but who am I to think them thick?. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted February 2, 2006 Share Posted February 2, 2006 Mondials are a bit naff though... plus if you can't afford a couple of thousand every 12,000 miles for servicing, it doesn't matter how cheap the are to buy . Just a joke - the annual costs would be more than the purchase price. I think Ferrari's should be strictly used for occasional hire at race tracks etc. unless you have so much cash you don't know what to do with it. To be fair, the article does go on to say: "However, a quarter of those surveyed for Abbey’s first-time buyer report, believe that house prices will fall and they are waiting for a better price before they buy. Abbey’s chief economist, Barry Naisbitt, said: “The proportion of first-time buyers that feel they need to buy now has doubled since last year. However, we would urge first-time buyers not to panic buy because purchasing a property is a significant commitment that requires careful consideration. If our forecast for house price inflation of 2 per cent this year is correct, then this suggests that there is less pressure to buy than if house prices were rising at 20 per cent per year.” He advises any young people thinking of buying to save up as big a deposit as possible to get the best start." Given the kind of things one finds in the media, this seems positively bear-like to me! Someone saying that a quarter of FTBs think that prices will fall? What heresy!! Who wrote this calumny?! Burn them, burn them, someone rouse the mob and set up the ducking-stool!! The banks are starting to cover their backsides. The Nationwide report had similar "prices will not rocket" advice. Even Phil and Krusty are talking of a flat market. The end is nigh, and they don't want to take flak for ramping the market. The collective memory is short enough for this to work, unfortunately. Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted February 2, 2006 Share Posted February 2, 2006 I think it's a great time to buy a Ferrari. There's a bit of an obstacle though............ Obviously your lack of 'discipline'! Do you want everyone on the board to teach you some discipline? Stop Trying To Be Clever Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted February 2, 2006 Share Posted February 2, 2006 Hint: maybe the fact that they didn't have a 50% deposit five years ago? I have what would have been a 50% deposit on a nice house five years ago: but I didn't have it then, and today it would be more like a 15-20% deposit on the same house. Indeed, known as chasing your own tail. The article mentioned 2% HPI as modest, benign, even helpful! Assumung the average FTB house is £150k that's an additional £3k required just to tread water. The average wage is £25k (maybe lower for FTB'ers), so they'd require a 12% pay rise simply to stand still without any improved affordability, does that sound realstic to you? Anyone brave soul willing to ask their boss for a 12% wage rise just to gauge their response? This spin is simply unthinking, it's based on the economics of mad house, maybe they're trying to appeal to peoples emotional side by whispering "buy now or you never will" in their ear, it seems the only numbers Abbey understand are their sales targets. How we live and learn. Been a good life lesson though, I will be choosier in what I buy next time - to ensure its fair priced and easy to re-sell. I don't think you will ever find a girlfriend quite like that. Quote Link to comment Share on other sites More sharing options...
Jason Posted February 2, 2006 Share Posted February 2, 2006 "Half of prospective homeowners feel that if they don’t get on the property ladder soon, they never will..." So, future FTBers will NEVER buy? Quote Link to comment Share on other sites More sharing options...
ʎqɐqɹǝʞɐɥs Posted February 2, 2006 Share Posted February 2, 2006 I will be choosier in what I buy next time - to ensure its fair priced and easy to re-sell. What? The house or the girl? Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted February 2, 2006 Share Posted February 2, 2006 I don't think you will ever find a girlfriend quite like that. I've found her!!!! She accepts that if we ever live together (which is likely to be end of the year) that it will be in rented accomodation, and she accepts why! What? The house or the girl? I knew someone would comment on that and I thought it might be you No, the girl I was with before was a nice girl, and we made the decision together - a wrong one I admit. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted February 2, 2006 Share Posted February 2, 2006 What? The house or the girl? Apparently there is a pub in Forest Gate, East London, where you can buy an Eastern European woman for about £6k. That isn't a joke, by the way. Quote Link to comment Share on other sites More sharing options...
A Fool & His Borrowed Money Posted February 2, 2006 Share Posted February 2, 2006 "Half of prospective homeowners feel that if they don’t get on the property ladder soon, they never will..." So, future FTBers will NEVER buy? Coz, What happens is, if they dont Buy now, they never will. No-One will.... The Housing Market will cease to exist., Thousands of EA's will be out of a jobs., All the major banks will close down as no-one will borrow from them to buy houses with. No more homes will be bought or sold, It's a once in a lifetime oppurtunity for every person in the UK; Buy now or you never will........ Quote Link to comment Share on other sites More sharing options...
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