Hip to be bear Posted August 16, 2009 Share Posted August 16, 2009 Fair play mate. That made me laugh. I can't help myself Sibs...Have to ask...what do you do for a living? You are right about many people just getting on with their lives at the moment. I rely on them to spend money in my restaurant, and they are doing so at the moment. Quote Link to comment Share on other sites More sharing options...
puppee Posted August 16, 2009 Share Posted August 16, 2009 Aren't you lot getting ahead of yourselves? You're talking like there has actually been a big crash. House prices are rising. Three years ago when you started this thread. Could you buy a 2-3 bedroom family home at 50% off in a nice area? NO Can you do it now in 2009? NO. You've had your leg lifted up by the government. I'm happy to be the one to tell you. i am not saying it has crashed yet and i do not think there will be a crash so much as it will be a long drawn out downward spiral according to info picked up of internet what i am saying is the govt should jump in and do it now as the longer this goes on the worse it will be in the end , more job losses, more companies going bankrupt and once the jobs and companies are gone we will be very lucky if 50% of them return as the tories have said the private sector will end up being smaller than in 98, so if all these jobs are gone where are people going to earn the money to buy these houses. PRICE RISES not round my way properties have been sitting on the market for months not sold because asking prices are still at 07 levels and before you have a go i have a property bought and paid for so it does not matter to be but the answer to this mess is affordable properties as its about survival now not profit from property Quote Link to comment Share on other sites More sharing options...
bateman Posted August 16, 2009 Share Posted August 16, 2009 How long do you see base rates staying below 5% then? Quite a while yet Quote Link to comment Share on other sites More sharing options...
Prof Posted August 16, 2009 Share Posted August 16, 2009 If interest rates rise enough to cause the sheeple some distress, I shall not feel any sympathy for them. Does a "fully mortgaged" sheeple feel sorry for savers when interest rates fall ? Does a heavily mortgaged sheeple feel sorry feel sorry for FTBers when house prices increase ? Does an indebted sheeple feel sorry for anyone who invests in shares that fall in value, or a gambler who bets on a losing horse ? No, the sheeple just follow one another, blindly believing that they can`t go wrong with property. Well, the shepherd, Gordon Brown, is trying to protect the flock from the big bad wolf, but the wolf is hungry, and I hope he enjoys his meal (when he finally gets it). Quote Link to comment Share on other sites More sharing options...
Jabberwocky Posted August 16, 2009 Share Posted August 16, 2009 If interest rates rise enough to cause the sheeple some distress, I shall not feel any sympathy for them.Does a "fully mortgaged" sheeple feel sorry for savers when interest rates fall ? Does a heavily mortgaged sheeple feel sorry feel sorry for FTBers when house prices increase ? Does an indebted sheeple feel sorry for anyone who invests in shares that fall in value, or a gambler who bets on a losing horse ? No, the sheeple just follow one another, blindly believing that they can`t go wrong with property. Well, the shepherd, Gordon Brown, is trying to protect the flock from the big bad wolf, but the wolf is hungry, and I hope he enjoys his meal (when he finally gets it). Yikes !. That will be one very fat wolf when he's finished with that lot. Mind you he will probably give the sheep's brains a miss because that won't amount to much. The fat, bungling shepherd will be history too. Quote Link to comment Share on other sites More sharing options...
Pindar Posted August 16, 2009 Share Posted August 16, 2009 Who cares? It was only a year ago I was paying 5 or 6 %. The low rates now are great but life goes on and if they went up people would just pay it. We always have. Makes me laugh. It's like when they rise 0.5% and they go out with the TV cameras into towns asking mongs if the £30 a month rise will effect them and they say ' Oh yes how will we cope?'. All in means is one less chinky take-a-way per month. If somebody is that skint and near the mark they won't make the 25 year term anyway. You're talking about a very small group of people and trying to pretend it's most homeowners. I've been driving around Kings Hill today and laughed my head off thinking about what you lot say on here. Get real. That's a posh estate. Ferrari's and 4x4's everywhere. Last week I was working in Woking Surrey in a private road where cheapest house was probably £700,000. I suppose these people are awake all night worrying about paying the minimum payment on their credit card. This site started and was hoping to create doom and gloom headlines. It nearly made it. Before the QE measures and the like even I thought a crash was possible. Now that's done. Finished. You, I and everyone in UK knows it. There simply aren't enough houses, people love property and apart from you lot us homeowners are happy with the steps taken. You keep speaking about a the country protesting etc but we are all happy. It's only you lot with the grey cloud over your heads. Treat yourself. Get down the superstore and buy a flat screen or something. Cheers for the tax money. "Who cares?" - I think I might care if my mortgage payments went up tenfold because the rate on my base rate tracker had gone from .6% to 6%. I think I might have a little less spare cash at the end of each month. The fundamentals all say a resounding "NO!" to your theory of debt-fuelled recovery. Unemployment, productivity, exports and the government's own tax receipts. Sorry to rain on your parade, but unfortunately, reality has a habit of hanging around, regardless of what the incredibly orchestrated spin campaign has tried to do with public opinion. People just aren't buying "it" or your overpriced slave boxes, yes, even the high-end slave boxes with bigger gardens and garages. But as usual sibley, yo are talking out of your VI ar$e. Quote Link to comment Share on other sites More sharing options...
Fairies Wear Boots Posted August 16, 2009 Share Posted August 16, 2009 Sibley is an estate agent! Of ***********, Maidstone Kent. Quote Link to comment Share on other sites More sharing options...
Potwalloper Posted August 16, 2009 Share Posted August 16, 2009 I suppose these people are awake all night worrying about paying the minimum payment on their credit card. 'Fraid they are old chap. It's all on tick. Quote Link to comment Share on other sites More sharing options...
Potwalloper Posted August 16, 2009 Share Posted August 16, 2009 i am not saying ... ... is about as far as I got. Quote Link to comment Share on other sites More sharing options...
Hip to be bear Posted August 16, 2009 Share Posted August 16, 2009 That post was you were replying to was from a few years ago when someone was sick of waiting for the crash.Wonder how the story ended. Did they buy before the crash? lol I tried to PM him to ask, but it was blocked. Shame. Quote Link to comment Share on other sites More sharing options...
Guest theboltonfury Posted August 16, 2009 Share Posted August 16, 2009 I tried to PM him to ask, but it was blocked. Shame. No problem at all. My fault. Quote Link to comment Share on other sites More sharing options...
Hip to be bear Posted August 16, 2009 Share Posted August 16, 2009 (edited) Sibley is an estate agent! Of ***********, Maidstone Kent. Are you sure......I don't think so.....We have been down that alley before. What do you do Sibbers? Please. What took you all the way to Surrey for work??? Edit: I didn't need to ask. What trade? Was there a connection with the motor industry or was that another red herring. Edited August 16, 2009 by Hip to be bear Quote Link to comment Share on other sites More sharing options...
Pindar Posted August 16, 2009 Share Posted August 16, 2009 I'm a tradesman. Actually work and get hands dirty everyday. Wish I was an EA at ***********. They all have yuppie BMW's, go out to posh resturants for lunch and wear suits to work. I eat cheese sarnies in the canteen Oh, so it's you who boards up the windows on those repossessed houses and changes the locks. You must be quite busy right now. Quote Link to comment Share on other sites More sharing options...
bateman Posted August 16, 2009 Share Posted August 16, 2009 Who cares?" - I think I might care if my mortgage payments went up tenfold because the rate on my base rate tracker had gone from .6% to 6%. I think I might have a little less spare cash at the end of each month But most people were paying out 5 - 6% until recently -they are just enjoying a temporary cash bonanza before rates go back to that level in a couple of years. Once in a lifetime chance to painlessly knock a load of capital off the mortgage Quote Link to comment Share on other sites More sharing options...
Hip to be bear Posted August 16, 2009 Share Posted August 16, 2009 But most people were paying out 5 - 6% until recently -they are just enjoying a temporary cash bonanza before rates go back to that level in a couple of years.Once in a lifetime chance to painlessly knock a load of capital off the mortgage Have a look back at your previous post at 4.30 pm. You have in this post given one of the main reasons for the temporary delay in the inevitable resumption of the crash that started 2 years ago. Please tell us what will happen to house prices when Base rates rise to 5-6% Quote Link to comment Share on other sites More sharing options...
Pindar Posted August 16, 2009 Share Posted August 16, 2009 But most people were paying out 5 - 6% until recently -they are just enjoying a temporary cash bonanza before rates go back to that level in a couple of years.Once in a lifetime chance to painlessly knock a load of capital off the mortgage Irrelevant against a backdrop of unemployment, repossessions and bankruptcy, sky-rocketing credit card rates and general squeeze on availability of credit and loans. Besides, research has shown that rather than be sensible and pay down debt with the (as you admit) temporary reprieve on interest payments, couples are splashing out on foreign holidays and luxuries. Can't have it both ways. You're either sensible with money or you're not and the days of falling back on government to bail out the recklessness of the few are numbered. Quote Link to comment Share on other sites More sharing options...
XswampyX Posted August 16, 2009 Share Posted August 16, 2009 You're either sensible with money or you're not and the days of falling back on government to bail out the recklessness of the few are numbered. Amen to that! Quote Link to comment Share on other sites More sharing options...
bateman Posted August 16, 2009 Share Posted August 16, 2009 Please tell us what will happen to house prices when Base rates rise to 5-6% That would mean that repayments will return to peoples budgetted mortgage amount i.e. the amount that they were paying a year or so ago. research has shown that rather than be sensible and pay down debt with the (as you admit) temporary reprieve on interest payments, couples are splashing out on foreign holidays and luxuries Source for this research? Quote Link to comment Share on other sites More sharing options...
eightiesgirly Posted August 16, 2009 Share Posted August 16, 2009 That post was you were replying to was from a few years ago when someone was sick of waiting for the crash.Wonder how the story ended. Did they buy before the crash? lol Going blind in me old age, hope it turned out OK for them in the end. Quote Link to comment Share on other sites More sharing options...
Pindar Posted August 16, 2009 Share Posted August 16, 2009 That would mean that repayments will return to peoples budgetted mortgage amount i.e. the amount that they were paying a year or so ago.Source for this research? Just one link of many. http://propertytalklive.co.uk/mortgages/59...dering-benefits There have also been plenty of anecdotals posted on here about the same issue. I know somebody who lost his job in the city. He isn't making any over-payments on his tracker and will be using overpayments he made when he was working for other purposes. The bailout money is just buying time, delaying the inevitable. You'd better enjoy it while it lasts. Quote Link to comment Share on other sites More sharing options...
bateman Posted August 16, 2009 Share Posted August 16, 2009 Just one link of many.http://propertytalklive.co.uk/mortgages/59...dering-benefits hmmm A survey of 158 people? That doesn't seem all that convincing - any other links? The bailout money is just buying time, delaying the inevitable. You'd better enjoy it while it lasts. Not too sure I understand what you are talking about here? enjoy what while it lasts? Quote Link to comment Share on other sites More sharing options...
Hip to be bear Posted August 16, 2009 Share Posted August 16, 2009 That would mean that repayments will return to peoples budgetted mortgage amount i.e. the amount that they were paying a year or so ago.Source for this research? Anecdotally my restaurant has had a record last 4 months.....Maybe they are blowing the cash on eating out. If base rates return to 5-6% and the banks retain current margins, mortgage rates will be higher than they were 2 years ago. Then all those that have lost jobs, bonuses or overtime will be feeling the pain a whole lot more. House prices????? It ain't rocket science. Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted August 16, 2009 Share Posted August 16, 2009 It looks as if the sheep could be in big trouble. They have listened to their friends,they have listened to the VI?s, they have kept this madness going. But with IR?s going up they could really suffer. Does anyone have any sympathy. yes Quote Link to comment Share on other sites More sharing options...
monty1080 Posted August 17, 2009 Share Posted August 17, 2009 I think the biggest problem I'm seeing on here is the fact that most of the FTB members have been programed to expect their first house will be a 2-3 bed semi. Get real. You're living in a dream world. A FTB should be a 1 bed starter home or flat. 2-3 bed semi's are for 2nd purchases. You don't have the dough to buy one of those yet and you're wasting valuable time waiting for a crash that ain't gonna happen. You may have the dough for a 1 bed place. That's a starter home. You ain't leap frogging for sure. There you go. Mondays reality check over. They know it's a waiting game. I think even if you look back 15 years 2-3 bed semis were within the reach of FTBs, even in Maidstone. Several friends of mine bought houses ,not flats, as their first purchase. Who are "they" ?? Quote Link to comment Share on other sites More sharing options...
ccc Posted August 17, 2009 Share Posted August 17, 2009 I think the biggest problem I'm seeing on here is the fact that most of the FTB members have been programed to expect their first house will be a 2-3 bed semi.Get real. You're living in a dream world. A FTB should be a 1 bed starter home or flat. You know you are probably correct. I live nowhere near the South East. Yet at the peak of the market in 2007 ? A one bed, poky flat in a semi-roughish area in Edinburgh ? Cost about 130k. That is about 6-7 times the salary of the average FTB. Yes you heard that correctly. An average 3 bed semi in an ok area ? Perhaps 10-12 times an FTB salary. Yes you heard that correctly as well. A few years before that in 2004 ? These one bed flats were about 50-60k. This was about 3 times an FTB salary. Nobody said they were cheap at this time. Nobody was queuing up to buy them. Interest rates were historically low. At the moment they are sitting about 5 times the average FTB salary. Still a good way to go. Unless something quite unexpected happens - these same flats will again be 3 times an average FTB wage in a couple of years. What goes around comes around. Unless everything has changed forever of course. Which is of course possible, but highly unlikely. I am betting on almost a sure thing. My chances are better than those betting on the 100-1 shot. Quote Link to comment Share on other sites More sharing options...
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