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Beware, The New Vi Line

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I have noticed, like a few others here, that the media and VIs are now trotting out on a regular basis headlines like "MORE MORTGAGE MISERY FOR FTBs" and comments like "it's harder for FTBs to get onto the ladder because banks have tightened their lending criteria..." rather than:

"PRICES ARE TOO HIGH. IF THEY FALL, IT'S GOOD NEWS FOR FTBs!"

I nearly kicked the TV yesterday when an EA on BBC news (surprise, surprise) bleated on about getting the mortgage market back to 'normal' (ie: liar loans to re-inflate the bubble) - needless to say, the interviewer didn't mention high house prices once.

They are trying to pressurize the government/BoE to pump more funds into the system and lower IRs - it won't work, but it's their only way of getting us all to believe that it's all to do with mortgages, not house prices. Don't fall for it, folks...

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I have noticed, like a few others here, that the media and VIs are now trotting out on a regular basis headlines like "MORE MORTGAGE MISERY FOR FTBs" and comments like "it's harder for FTBs to get onto the ladder because banks have tightened their lending criteria..." rather than:

I saw this used on BBC News yesterday and could have put a brick through the screen... the VI in question used it in response to the question 'Isn't the drop in house prices good for first time buyers?' where the specific context was nurses having to find 11x salary to buy a place. The VI still use that line - WHAT PART OF 11X INCOME DON'T YOU UNDERSTAND?!! - I thought.

TD

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And blaming things of a lack of mortgages, grrr! If you have a reasonable deposit, there's plenty of FTB mortgages out there today. Of course, it is far easier to save a decent deposit as a percentage of £80,000 than it is for £180,000.

FTBs (who aren't prepared to give mickey mouse income declarations) are only frozen out until the mickey mouse prices get back to reality. Judging by the death-dive graphs, that day will not be too far away.

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I have noticed, like a few others here, that the media and VIs are now trotting out on a regular basis headlines like "MORE MORTGAGE MISERY FOR FTBs" and comments like "it's harder for FTBs to get onto the ladder because banks have tightened their lending criteria..."

What they mean but can't say is "MORE MORTGAGE MISERY FOR SELLERS" and comments like "it's harder for FTBs sellers to get onto the ladder sell their property because banks have tightened their lending criteria..."

For FTBs the best thing that can happen is for lending to remain sensible.

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I have noticed, like a few others here, that the media and VIs are now trotting out on a regular basis headlines like "MORE MORTGAGE MISERY FOR FTBs" and comments like "it's harder for FTBs to get onto the ladder because banks have tightened their lending criteria..." rather than:

Absolutely no mention of the BTL (Buy To Lose) bailing out the market. It has been the BTL propping up the market the last few years.

FTBs are sitting back now and rubbing their hands only another 60% to go :lol::lol::lol::lol:

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Guest DissipatedYouthIsValuable

Still getting harder for FTBs?

Guess I should wait a bit longer then?

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Still getting harder for FTBs?

Guess I should wait a bit longer then?

thought you were going to south america with your heard of donkies.

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Guest DissipatedYouthIsValuable
thought you were going to south america with your heard of donkies.

World. December. Oyster.

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thought you were going to south america with your heard of donkies.

i've herd of donkies too.

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I have noticed, like a few others here, that the media and VIs are now trotting out on a regular basis headlines like "MORE MORTGAGE MISERY FOR FTBs" and comments like "it's harder for FTBs to get onto the ladder because banks have tightened their lending criteria..." rather than:

"PRICES ARE TOO HIGH. IF THEY FALL, IT'S GOOD NEWS FOR FTBs!"

I nearly kicked the TV yesterday when an EA on BBC news (surprise, surprise) bleated on about getting the mortgage market back to 'normal' (ie: liar loans to re-inflate the bubble) - needless to say, the interviewer didn't mention high house prices once.

They are trying to pressurize the government/BoE to pump more funds into the system and lower IRs - it won't work, but it's their only way of getting us all to believe that it's all to do with mortgages, not house prices. Don't fall for it, folks...

Almost on cue, http://edinburghnews.scotsman.com/latestne...yers.4274628.jp

But this is from the Edinburgh newspaper that seems to devote much of its staff to ramping the market.

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Still getting harder for FTBs?

Guess I should wait a bit longer then?

You mark my words young man, you'll be priced out if you wait.

There's going to be a run on Canadian Yaks.

People have started flipping them already, so get in now :blink:

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You mark my words young man, you'll be priced out if you wait.

There's going to be a run on Canadian Yaks.

People have started flipping them already, so get in now :blink:

maybe you noticed I made another spelling faux pas above.... tee hee

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How can it be getting tougher for FTBs ?

1) As each month goes by, the price of their prospective purchase is falling.

2) As each month goes by, they should be increasing the amount saved for the deposit.

3) As each month goes by, the FTB`s lender will be getting more willing to lend to a home purchaser who wants to borrow a REASONABLE amount with a DECENT deposit.

In the short-tern view of a VI muppet, it is getting harder for a FTB as lenders are increasing rates on some mortgage products, and appear to be reluctant to lend anything more than 90% LTV. However, when you consider reality, and the points I`ve listed above, it`s looking like it will be getting EASIER for FTBs.

I`m sick of the short-term, greedy attitude of people who don`t seem to be able, or want to understand the real world.

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There is one thing that is getting harder for prospective FTB. Tying not to laugh too loudly in the presence of those peers who overstretched last summer. A few months of having the increased "value" of the homes shoved down my throat at every opportunity. It has been eerily quiet the last few months. Like the Guinness advert - Good things come to those who wait. :lol:

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"PRICES ARE TOO HIGH. IF THEY FALL, IT'S GOOD NEWS FOR FTBs!"

Hear, hear

This is the only VI trick left now I think as everything else has basically proved them wrong to the extent that even Savills are predicting 25% falls. However, anyone who believes it is an abject retard and will almost inevitably get themselves into immense financial difficulty whatever you might try and do for them.

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Interesting yesterday on BBC1's late night politics show (Thursday, name escapes me), that both Diane Abbott and Michael Portillo said that house prices falls were a good thing (especially for FTBs), and that prices had got too high - ridiculously so.

Politicians talking sense. How unusual.

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I have noticed, like a few others here, that the media and VIs are now trotting out on a regular basis headlines like "MORE MORTGAGE MISERY FOR FTBs" and comments like "it's harder for FTBs to get onto the ladder because banks have tightened their lending criteria..." rather than:

"PRICES ARE TOO HIGH. IF THEY FALL, IT'S GOOD NEWS FOR FTBs!"

I nearly kicked the TV yesterday when an EA on BBC news (surprise, surprise) bleated on about getting the mortgage market back to 'normal' (ie: liar loans to re-inflate the bubble) - needless to say, the interviewer didn't mention high house prices once.

They are trying to pressurize the government/BoE to pump more funds into the system and lower IRs - it won't work, but it's their only way of getting us all to believe that it's all to do with mortgages, not house prices. Don't fall for it, folks...

Agreed to 1000% (even though that's impossible etc ;) ) The other issue is the pity aimed towards FTBs who bought over the past few years...erm...OK, bought place for 100K with 90K mortgage in 2005, place 'goes up' to be 'worth' 140K, now falls back to be worth 100K, and the problem is? Still cheaper than renting? Yes. Can you afford it ? Yes. The wealth destruction/evaporation is not going to harm recent FTBs, it's gonna kill the smug aspirations of the 'middle class' with jumbo mortgages who bought into the BS and moved up a rung over the past few years but the meeja wont talk about that cos that's them ;) .

No Country for old men...or first time buyers

Once again the media have clumsily focused their attention on first time buyers over the past fortnight. Whether it's desperate rants from television property pundits (with political ambitions) regarding stamp duty exemption, or journalists doing their 'first time buyer article' for the week, the narrative is becoming very stale and equally boring...

As house price falls intensify the clamour to 'assist' first time buyers gathers pace; shared ownership is being peddled furiously, developers are offering to defer up to 15% of the property price and yet the mortgage industry is curiously quiet with first time buyer mortgage offers, without which the first two initiatives will not move forward at any pace.

http://firstrung.co.uk/articles.asp?pageid...&cat=65-0-0

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Interesting yesterday on BBC1's late night politics show (Thursday, name escapes me), that both Diane Abbott and Michael Portillo said that house prices falls were a good thing (especially for FTBs), and that prices had got too high - ridiculously so.

Politicians talking sense. How unusual.

d'ya reckon they (Portillo & Abbott) have strange kinky sex? :blink:

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  • 396 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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