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PhoneyMcRingRing

House Price Debate On Bbc 5 From 9am!

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Typical BBC start--they announce HPI at 40% as if it was fact. No source quoted. They then go on to say Brown's plan to build 3m homes is designed to house the growing masses but not to reduce prices.

Program to continue after other news.

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JUst mentioned the 40% rise again as "news." Sport now...............

Again--stated as fact. No source.

Sheeple on saying its still double digit inflation.

Sheeple is saying Banks will lend you "phenomenal" amounts of money today.

BBC interviewer asks if she has considered a 125% loan.

Sheeple says Brown's policies useless--reducing stamp will make it worse. Need to discourage investors in housing--anti BTL.

Edited by Realistbear

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She keeps repeating "HPI will be 40%....."

No mention of recent news of the LR index which shows falls in 4 regions, 3 flat and only 3 seeing any decent HPI. Why not mention other sources? Typical BBC.

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Are you going to ring up and stick it to her (so to speak) RB?

Phoney

Emailed:

You state that house prices "will" go up 40% in the next few years. How about mentioning the most recent Land Registry Index report which shows house prices are going DOWN in 4 regions, are flat in 3 and only going up in 3? Why not mention the horrific rises in repossessions that are going on as affordability crumbles.
According to a report in the Times today the multiple is now 9.3 times average income for the average house price.

http://property.timesonline.co.uk/tol/life...icle2204082.ece' rel="external nofollow">
The average national house price of £181,039 is 9.3 times average earnings. Last week interest rates were held at 5.75 per cent but many experts expect the base rate to be lifted to 6 per cent in an attempt to calm inflation.
The Great Crash of 1989-96 began when the multiples were around 4-5. The only thing propping up current levels in house prices has been irresponsible lending made possible by sub-prime lending. The sub-prime market is collapsing which will cut off the supply of easy money to buy homes.
Brown promised no more boom and bust in house prices. We have just had a decade of boom and given that all economies are cyclical we can be assured of a commensurate bust. The world is seeing a house price correction: Ireland (Republic of) are in their 3rd month of month-over-month falls. Spain is crashing. The US is crashing. France is seeing falls. The Land Registry report confirms we are also seeing falls.
The next Great Crash will see prices fall between 40-60% over the course of the next few years.
Real Istbear
Warwickshire
Edited by Realistbear

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Emailed:
You state that house prices "will" go up 40% in the next few years. How about mentioning the most recent Land Registry Index report which shows house prices are going DOWN in 4 regions, are flat in 3 and only going up in 3? Why not mention the horrific rises in repossessions that are going on as affordability crumbles.
According to a report in the Times today the multiple is now 9.3 times average income for the average house price.

http://property.timesonline.co.uk/tol/life...icle2204082.ece' rel="external nofollow">
The average national house price of £181,039 is 9.3 times average earnings. Last week interest rates were held at 5.75 per cent but many experts expect the base rate to be lifted to 6 per cent in an attempt to calm inflation.
The Great Crash of 1989-96 began when the multiples were around 4-5. The only thing propping up current levels in house prices has been irresponsible lending made possible by sub-prime lending. The sub-prime market is collapsing which will cut off the supply of easy money to buy homes.
Brown promised no more boom and bust in house prices. We have just had a decade of boom and given that all economies are cyclical we can be assured of a commensurate bust. The world is seeing a house price correction: Ireland (Republic of) are in their 3rd month of month-over-month falls. Spain is crashing. The US is crashing. France is seeing falls. The Land Registry report confirms we are also seeing falls.
The next Great Crash will see prices fall between 40-60% over the course of the next few years.
Real Istbear
Warwickshire

RB, I have the feeling that they will not reply to you.

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Merely an extrapolation from a graph. Any simpleton could do the same without factoring in variables. The prime one being a choke in demand due to a credit squeeze........

quote them the share price of Kensington, a sub prime player , and you will see a mirror image of the TRUE value of housing once reality sets in ie,share price today is the same as feb 2004.Could the true value today of a property be the the same as in feb 2004?

http://finance.aol.com/ukw/quotes/charts?d...mp;x=12&y=8

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As usual Liz from PricedOut is useless - Oh moan moan, life is so bad renting. Why on earth don't you talk about the macroeconomics? Why do you waste every single opportunity?

Get someone else to talk for you.

You talk like a bull - mainly 'cos you talk bull.

You talk so subjectively - total waste.

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Guest Yeahbutnocrash
JUst mentioned the 40% rise again as "news." Sport now...............

Again--stated as fact. No source.

Sheeple on saying its still double digit inflation.

Sheeple is saying Banks will lend you "phenomenal" amounts of money today.

BBC interviewer asks if she has considered a 125% loan.

Sheeple says Brown's policies useless--reducing stamp will make it worse. Need to discourage investors in housing--anti BTL.

I dunno.. Sheeple this, Sheeple that.. I get the impression you just like using the word 'Sheeple' :lol:

Anyhow to be fair I did hear some of this program and seem to remember an expert on the program making a point you have backed up yourself

He said the recent HPI is largely the lenders fault as it was irresponsible for them to start lending 5x salary rather than sticking to 3x

If they kept it at 3x then that of course acts as a natural limiter on house prices

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