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Guest KingCharles1st

According To Halifax- Housing Market Underpinned By Strong Fundamentals

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Guest KingCharles1st

Well- the main one being high employment.

Lets chop this up shall we.

Wonder how many of those "high employment" individuals are actually on the minimum wage..?

5.75 per hour BEFORE tax- thats 11440 a year BEFORE tax

x 3.5= #40,040.00 lending limit BEFORE tax

Hmmmmm........

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Well- the main one being high employment.

Lets chop this up shall we.

Wonder how many of those "high employment" individuals are actually on the minimum wage..?

5.75 per hour BEFORE tax- thats 11440 a year BEFORE tax

x 3.5= #40,040.00 lending limit BEFORE tax

Hmmmmm........

Yeah, they also seemed to have glossed over the fact that companies (particularly builders) have announced thousands of redundancies in the past few weeks.

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Excerpt from Economics 101:

"Employment data is a lagging indicator."

Thus the "strong" fundamentals the VIs are seeing today will be tomorrow's "weak" fundamentals.

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The emplyment statistics we need to know are those relating to the job situations of people who own property, or seriously aspire to owning property.

Edited by blankster

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Well- the main one being high employment.

Lets chop this up shall we.

Wonder how many of those "high employment" individuals are actually on the minimum wage..?

5.75 per hour BEFORE tax- thats 11440 a year BEFORE tax

x 3.5= #40,040.00 lending limit BEFORE tax

Hmmmmm........

Its a bit like the Mugabwe election results coming out late with heaps of spin, don't want to panic the homeowners with mortgages do we.

Last year we had "There's no Sub-Prime in the UK" , "Its Different Here". "Soft Landing"

Strong Fundamentals ????????? with our true unemployment figures been distorted for so many years. No mention of all the construction jobs going, the knock on effect . The canary birds are in chorus in the mines.

Why don't they just come clean and say we are in dire S**T.

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I think this was a typo by the papers.

What Halifax actually said is the market is being underpinned by the Mentals keen on further funding, the Bank of England being one such example.

Property dropped 2% last month in value, thats good for Britain, its good for the young generation, and its pretty brilliant for the Tories who will undoubtebly win the next election on the back of New Labours catastrophic failures.

I dont want to see anyone dissing the Tory Smart money who kept out of this house price inflation scam in the future. There is a reason why the Tories are the party of wealth, and Labour the party of paupers and i think events over the past decade should highlight this.

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Guest Shedfish
Halifax - Housing Market Underpinnedmined By Strong Fundamentals

corrected for grammatical accuracy

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High employment!!!!LOL. These people are jokers in reality. As PP pointed out employment is a lagging indicator. Anyway it doesn't matter how high employment is if the average house price is between 8.2 times the average Uk salary. That still means they are priced to fantasy...The Halifax statement would be a better economic indicator if it said unemployment is is rising but house prices are now only 5 times earnings...or something to that affect...

I am from Northern Ireland, and average house price last summer here was 20% higher than the UK average and the average salary in Northern Ireland is 20% below the average UK salary.

Average salary to earnings in Northern Ireland was 12-13 times yearly salary last summer. The public sector is the biggest employer in Northern Ireland, which would not renowned for being top paying jobs...in a nutshell...as bad as it will be in the mainland UK, it is going to be and already is horrendous. Some of the anecdotes and real experiences I have been hearing about here are crazy. Property auction I was at in one of the most affluent towns in NI just three weeks ago, had 35 properties listed and in the night there was NO BIDS, AND NO SALES. I was embarrassed for the estate agents...it was a very uneasy feeling, although I was glowing inside.

Falling house prices are good!!!!

Edited by VedantaTrader

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High employment!!!!LOL. These people are jokers in reality. As PP pointed out employment is a lagging indicator. Anyway it doesn't matter how high employment is if the average house price is between 8.2 times the average Uk salary.

I am from Northern Ireland, and average house price last summer here was 20% higher than the UK average and the average salary in Northern Ireland is 20% below the average UK salary.

Average salary to earnings in Northern Ireland was 12-13 times yearly salary last summer. The public sector is the biggest employer in Northern Ireland, which would not renowned for being top paying jobs...in a nutshell...as bad as it will be in the mainland UK, it is going to be and already is horrendous. Some of the anecdotes and real experiences I have been hearing about here are crazy. Property auction I was at in one of the most affluent towns in NI just three weeks ago, had 35 properties listed and in the night there was NO BIDS, AND NO SALES. I was embarrassed for the estate agents...it was a very uneasy feeling, although I was glowing inside.

Falling house prices are good!!!!

The situation in NI and I scares the hell out of me. Much worse than England - something almost similar to Japan in the late 1980's. Truely, I think 70% falls on average from peak to trough are not unlikely.

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It was amazing they (the beeb I think) managed to quote this Mr Ellis while, with a complete lack of irony, they referred to massive job losses in the building sector, and they also showed a graph of house price change which resembled a black run at Val D'Isere. Talk about delusion.

When you bear in mind these are the so called experts who have been whispering in Gordon's ear it is on wonder our 'miracle' economy is falling apart.

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If house prices drop like this when the "Housing Market [is] Underpinned By Strong Fundamentals", what will the price drops be like when it isn't underpinned by strong fundamentalists? :unsure:

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I dont want to see anyone dissing the Tory Smart money who kept out of this house price inflation scam in the future. There is a reason why the Tories are the party of wealth, and Labour the party of paupers and i think events over the past decade should highlight this.

But presumably we can diss the tory dumb money in the shape of BTLers.

Most tories are greedy. All BTLers are greedy. Stands to reason most BTLers are tories.

Tories are the party of BTL, events since they introduced the assured shorthold tenancy in the Housing and Urban Development Act 1993 enshrine their position as holders of that title.

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But presumably we can diss the tory dumb money in the shape of BTLers.

Most tories are greedy. All BTLers are greedy. Stands to reason most BTLers are tories.

Tories are the party of BTL, events since they introduced the assured shorthold tenancy in the Housing and Urban Development Act 1993 enshrine their position as holders of that title.

I would disagree, the vast majority of BTL'ers I have met are working class people thinking they have made good.

Tory Property was purchased generations ago hence the reason they own great swathes of land, BTL is for People like the Labour Cabinet, Tony Blair, Cheri Blair, John Prescott, Blunkett.....need I go on or would you like some more salt to rub in.

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I would disagree, the vast majority of BTL'ers I have met are working class people thinking they have made good.

Tory Property was purchased generations ago hence the reason they own great swathes of land, BTL is for People like the Labour Cabinet, Tony Blair, Cheri Blair, John Prescott, Blunkett.....need I go on or would you like some more salt to rub in.

Purchased generations ago... oh so you're not talking normal people or about tory-voters property (Thatcher's great new generation etc) but the landed gentry who stole the land from the peasants, kept the serfs in penury in their tied cottages etc.

No I can see that those bunch of parasites could not be termed BTLers, I agree with you there.

You've previously stated all labour supporters are feckless ne'er do well dolies. Where did they get the money to start their BTLs?

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  • 395 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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