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Realistbear

Northern Rock: The Housing Market Will Peter Out

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http://business.timesonline.co.uk/article/...2286260,00.html

Housing market

Times Online July 26, 2006
Northern Rock cautious on house prices
By Miles Costello
Northern Rock, the mortgage lender, today added its voice to predictions that the
mini-boom in property prices will peter out
over the coming months as it reported a 14.4 per cent jump in pre-tax profits for the first half of the year...../
Northern Rock joins the Halifax, Nationwide and other high-profile recorders of changes in the property market such as Rightmove, the website, in adopting a
cautious tone about house price growth
this year..../
Northern Rock has taken a conservative approach to mortgage lending, opting to concentrate on lower risk lenders and
fighting shy of piling into mass buy-to-let lending
.

Despite this, they tow the party line to say that prices will not come down. IMO, their call on the dangers of BTL lending is a smart one--stay out of it.

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Guest wrongmove

Er, the article says the mini-boom will peter out, not the housing market !! :o:P

But according to you, we are already in crash terriotory anyway !!

Come on RB, you can do better than this :lol:

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Er, the article says the mini-boom will peter out, not the housing market !! :o:P

But according to you, we are already in crash terriotory anyway !!

Come on RB, you can do better than this :lol:

I can't much better than repeat the main point:

mini-boom in
property prices
will peter out over the coming month

I think we can assume that "property" and the housing market are one and the same? :blink:

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Guest wrongmove

I can't much better than repeat the main point:

mini-boom in
property prices
will peter out over the coming month

I think we can assume that "property" and the housing market are one and the same? :blink:

:P

Look up "straw man" on Google RB !

Look up "taking out of context" on Google while you are there !

Indeed, property and housing are the same thing. But I never said they weren't, as well you know.

NR said that the mini-boom in property prices will peter out, you quoted this as the housing market will peter out.

Gotta respect your persistance RB, but should should respect the intelligence of forum readers. Only a child would fall for these very old debating tricks ! :rolleyes:

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:P

Look up "straw man" on Google RB !

Look up "taking out of context" on Google while you are there !

Indeed, property and housing are the same thing. But I never said they weren't, as well you know.

NR said that the mini-boom in property prices will peter out, you quoted this as the housing market will peter out.

Gotta respect your persistance RB, but should should respect the intelligence of forum readers. Only a child would fall for these very old debating tricks ! :rolleyes:

What, exactly, is the difference between "property" and "housing" in your view? And how is a mini-boom petering out any different in the one than the other? If, as you say, there is no difference between property and housing then it follows there is equally no difference in them both petering out?

I think you may have spun yourself into a sticky web again. <_<

But, instead of Trolling the thread lets concentrate on the news:

http://business.timesonline.co.uk/article/...2286260,00.html

Housing market

Times Online July 26, 2006
Northern Rock cautious on house prices
By Miles Costello
Northern Rock, the mortgage lender, today added its voice to predictions that the
mini-boom in property prices will peter out
over the coming months as it reported a 14.4 per cent jump in pre-tax profits for the first half of the year...../
Northern Rock joins the Halifax, Nationwide and other high-profile recorders of changes in the property market such as Rightmove, the website, in adopting a
cautious tone about house price growth this year..../
Northern Rock has taken a conservative approach to mortgage lending, opting to concentrate on lower risk lenders and
fighting shy of piling into mass buy-to-let lending.

Northern Rock are cautious and see the mini-boom in the property market, which consists of housing, petereing out. They are BTL wary which suggests that BTL may not be such a safe place for them to put their money as the market peters out.

Great Bear news. :D

Edited by Realistbear

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Guest wrongmove

:P

Look up "straw man" on Google RB !

Look up "taking out of context" on Google while you are there !

Indeed, property and housing are the same thing. But I never said they weren't, as well you know.

NR said that the mini-boom in property prices will peter out, you quoted this as the housing market will peter out.

Gotta respect your persistance RB, but should should respect the intelligence of forum readers. Only a child would fall for these very old debating tricks ! :rolleyes:

Ohhh… get you, these are just semantic arguments.

The main point was to report the article.

I am sure that the housing market will be the first market to boom and not bust.

Speculative markets are known as greater fool markets.. Perhaps tis the peak of fools that should concern you.

All investors I knew told me to keep clear of housing and had sold theirs at 2004 prices.

Easy peak.

They sold to greater fools

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Ohhh… get you, these are just semantic arguments.

The main point was to report the article.

I am sure that the housing market will be the first market to boom and not bust.

Speculative markets are known as greater fool markets.. Perhaps tis the peak of fools that should concern you.

All investors I knew told me to keep clear of housing and had sold theirs at 2004 prices.

Easy peak.

They sold to greater fools

Indeed, the great Pyramid scam of 1996-200_ (2006?)

Awooga <_<

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Indeed, the great Pyramid scam of 1996-200_ (2006?)

Awooga <_<

I love it.

The IMF, the Gov of the BOE,

LAnd registry figures..

What else?

They are cheaper now

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Guest wrongmove

Awooga <_<

Hmm. Awooga (Anyone With Opposite Opinion Go Away)

I guess the nearest I can find to this is Argument By Slogan:

if it's short, and connects to an argument, it must be an argument. (But slogans risk the Reductive Fallacy.)

Being short, a slogan increases the effectiveness of Argument By Repetition. It also helps Argument By Emotive Language (Appeal To The People), since emotional appeals need to be punchy. (Also, the gallery can chant a short slogan.) Using an old slogan is Cliche Thinking.

I've never neem awooga'd before. Does that mean I've won the argument ?

:lol:

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Parts of this thread remind me of "Handbags at ten paces"!

:D

Despite the attempts to get the thread off-topic, the Northern Rock article is significant as it seems that one major VI, at least, is seeing the red lights flashing. Especially for the BLT market.

Not long now.

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Guest wrongmove

Very interested indeed and I have bookmarked them all. Can we get back on topic now please? :D

Very diligent of you ! :P

Back to the articke then:

"Northern Rock, the mortgage lender, today added its voice to predictions that the mini-boom in property prices will peter out over the coming months as it reported a 14.4 per cent jump in pre-tax profits for the first half of the year....

And Britain's eighth-biggest quoted banking group, with more than 14 per cent of the mortgage market, argued that over the medium term house prices are likely to grow at the same rate as wages.

...As it told investors that pre-tax profits for the six months to the end of June had reached £273.7 million, Northern Rock said house prices grew during the first half at a faster rate than it had predicted. Aided by the return to the market of first-time buyers, the bank said it expects to see more sales completed this year than last....

...Increased levels of housing transactions together with above anticipated levels of house price increases, skewed by central London, contributed to increases in gross residential lending of 27 per cent and net residential lending of 25 per cent in the first five months of the year," Northern Rock said...."

Terrible news for bears, I'm afraid. NR do think that the short spring boom may have run its course, but it is just back to business as usual - increasing transaction, FTBs and profits, and prices just tracking wages. :(

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:D

Despite the attempts to get the thread off-topic, the Northern Rock article is significant as it seems that one major VI, at least, is seeing the red lights flashing. Especially for the BLT market.

Not long now.

Believe me when i say i have my fingers & legs crossed in anticipation.

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Very diligent of you ! :P

Back to the articke then:

"Northern Rock, the mortgage lender, today added its voice to predictions that the mini-boom in property prices will peter out over the coming months.......

........Good............

And Britain's eighth-biggest quoted banking group, with more than 14 per cent of the mortgage market, argued that over the medium term house prices are likely to grow at the same rate as wages.

........Err, does this mean my wages will "peter out over the coming months" also?.........

...As it told investors that pre-tax profits for the six months to the end of June had reached £273.7 million, Northern Rock said house prices grew during the first half at a faster rate than it had predicted.

.........Can rely on future prediction 100% then..........

the bank said it expects to see more sales completed this year than last....

....whilst at the same time petering out presumably..........

...Increased levels of housing transactions together with above anticipated levels of house price increases, skewed by central London, contributed to increases in gross residential lending of 27 per cent and net residential lending of 25 per cent in the first five months of the year," Northern Rock said...."

...........but the maths just don't add up do they, we seem to have left the 6th month out............

Terrible news for bears, I'm afraid. NR do think that the short spring boom may have run its course, but it is just back to business as usual - increasing transaction, FTBs and profits, and prices just tracking wages. :(

Cheer up mate, it looks like we cherry picked to suit.

In fact, it would not surprise me if we had some very good news indeed in the next 7 days.

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Guest wrongmove

........Good............

........Err, does this mean my wages will "peter out over the coming months" also?.........

.........Can rely on future prediction 100% then..........

....whilst at the same time petering out presumably..........

...........but the maths just don't add up do they, we seem to have left the 6th month out............

Cheer up mate, it looks like we cherry picked to suit.

In fact, it would not surprise me if we had some very good news indeed in the next 7 days.

This thread is degenerating into a "my peter is bigger than yours" argument. I have no inside knowledge on your peter, nor do I want any, but I would be very surprised if that is the case.

In fact peter reduction is a real problem these days, if I believe all the spam emails in my inbox. I'm sure if Northern Rock responded to their spam, they could even get their peter back up to speed. And without a peter problem, there is really no bear case in the article at all.

:P

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  • 301 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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