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talksalot81

Affordability Not An Issue

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This was what was stated this evening on BBC news NI. Somebody was on and stated that developers reducing property byt between 15 and 35% meant that affordability was no an issue rather the problem was that people could not get mortgages. Now please excuse me but it seems to be that the reason the people cannot get mortgages is because the banks do believe the risk of lending to them is too high, correct? Why do they consider the risk high? Is it because they are certain that the people can pay the mortgage costs? Try again. If you cannot get a mortgage it is because the bank considers that you are a risk and may not be able to repay what you owe. Why would the bank think that the borrowers may not be able to repay? Because they cannot afford the loan!!!! So if people cannot get a mortgage to finance the property they want - affordability IS and issue!

Why do the BBC let such utterly stupid comments onto air?! The sheeple love this crap but intelligent people just do not listen to the opinions voiced on the BBC.

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This was what was stated this evening on BBC news NI. Somebody was on and stated that developers reducing property byt between 15 and 35% meant that affordability was no an issue rather the problem was that people could not get mortgages. Now please excuse me but it seems to be that the reason the people cannot get mortgages is because the banks do believe the risk of lending to them is too high, correct? Why do they consider the risk high? Is it because they are certain that the people can pay the mortgage costs? Try again. If you cannot get a mortgage it is because the bank considers that you are a risk and may not be able to repay what you owe. Why would the bank think that the borrowers may not be able to repay? Because they cannot afford the loan!!!! So if people cannot get a mortgage to finance the property they want - affordability IS and issue!

Why do the BBC let such utterly stupid comments onto air?! The sheeple love this crap but intelligent people just do not listen to the opinions voiced on the BBC.

Yes, people have been easily afford houses. Come on Talksalot :rolleyes: , its because there is a lack of credit. Its not affordability, not one iota!!!! And thats why our banks are leveraged 1:20, 1:30 and 1:65 in the case of old Freddie and Fannie...because houses have been affordable...Our British banks are in great shape...people have been affording houses, well within their means, and thats why banks are desperately trying to raise capital to stay afloat.... like HBOS,like B+B and B of Ireland who will be nationalised. Our biggest mortgage lenders...People have been affording houses...thats why defaults and NPL are going through the roof...get with it Talksalot :lol: Its because houses are too cheap...thats why the economy and our banking system is in such great shape. :):)

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John Armstrong, managing director of the construction employers federation says house prices are affordable. He has no vested interest at all. :rolleyes:

The same guy was on radio Ulster, saying the same thing on Friday - how important the housing sector is, and how now it needs support. Please, please, please give us some public money to support these high house prices. Pathetic really. If house are affordable they will sell. Lower the prices and stop begging!

If house prices are so affordable why is everyone not running out to buy a house?

Even with the current reductions of 15-35%, nobody can afford to buy a house.

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This was what was stated this evening on BBC news NI. Somebody was on and stated that developers reducing property byt between 15 and 35% meant that affordability was no an issue rather the problem was that people could not get mortgages. Now please excuse me but it seems to be that the reason the people cannot get mortgages is because the banks do believe the risk of lending to them is too high, correct? Why do they consider the risk high? Is it because they are certain that the people can pay the mortgage costs? Try again. If you cannot get a mortgage it is because the bank considers that you are a risk and may not be able to repay what you owe. Why would the bank think that the borrowers may not be able to repay? Because they cannot afford the loan!!!! So if people cannot get a mortgage to finance the property they want - affordability IS and issue!

Why do the BBC let such utterly stupid comments onto air?! The sheeple love this crap but intelligent people just do not listen to the opinions voiced on the BBC.

I agree, i was nearly screaming at the tv! :rolleyes::lol:

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If house prices are so affordable why is everyone not running out to buy a house?

The jist of what he said was that the developer did have a load of interest and that prices were affordable - just the banks were not willing to lend! Total contradiction! What he is basically saying it that the bank's assessment of affordability is wrong and that buyers are the ones 'on the ball'. Ridiculous. This is sort of man who would rather listen to a GCSE dropout's opinion on nuclear power than an expert, just because it fits his interest.

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Aren't you being a bit too hard on them? A lot of people probably have more than they can really affford tied up in property so they have to remain optimistic. They are getting increasingly desperate these days though. ;)

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This was what was stated this evening on BBC news NI. Somebody was on and stated that developers reducing property byt between 15 and 35% meant that affordability was no an issue rather the problem was that people could not get mortgages. Now please excuse me but it seems to be that the reason the people cannot get mortgages is because the banks do believe the risk of lending to them is too high, correct? Why do they consider the risk high? Is it because they are certain that the people can pay the mortgage costs? Try again. If you cannot get a mortgage it is because the bank considers that you are a risk and may not be able to repay what you owe. Why would the bank think that the borrowers may not be able to repay? Because they cannot afford the loan!!!! So if people cannot get a mortgage to finance the property they want - affordability IS and issue!

Why do the BBC let such utterly stupid comments onto air?! The sheeple love this crap but intelligent people just do not listen to the opinions voiced on the BBC.

People can get mortgages, it's just that the terms are harsher than they have been eg larger deposits are now required. With house prices dropped a good bit, shelling out a larger deposit is a different scenario to paying a much greater price using a 100pc mortgage as was happening previously.

Now it seems that people don;t want to buy until 100pc mortgages return, if ever that will be............

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Affordability itself is a modern idea which was prolonged in NI because of ecomomic problems and civil unrest. . eg Most of Blfast's older housing was built for the rental market don't forget!

like to quote the professor or economist that came up with that little gem

or is that just one of your own wee witicisms

there has been plenty of research done to show that in various parts of europe over the last 400 years

house prices have a a very close corelation with wages and inflation

yes there have been bubbles before and they have always crashed and burned just like this one

no doubt there will be more in the future

although not for quite some time given the magnitude of this one i would bet

this is certainly one for the record books

Rock on!

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People can get mortgages, it's just that the terms are harsher than they have been eg larger deposits are now required. With house prices dropped a good bit, shelling out a larger deposit is a different scenario to paying a much greater price using a 100pc mortgage as was happening previously.

Now it seems that people don;t want to buy until 100pc mortgages return, if ever that will be............

But how is that different from my view? The terms are harsher, people need larger deposits, they need to pay more fees and they need to pay more interest. It costs more and they cannot afford to borrow the amount necessary to buy the properties they would want. Hence people cannot get the mortgage they need to buy the property they want because they cannot afford it!!!

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People can get mortgages, it's just that the terms are harsher than they have been eg larger deposits are now required. With house prices dropped a good bit, shelling out a larger deposit is a different scenario to paying a much greater price using a 100pc mortgage as was happening previously.

Now it seems that people don;t want to buy until 100pc mortgages return, if ever that will be............

Yes because affordability is the big issue, if people don't want to buy until 100% mortgages return then what would that suggest to you? To me it would suggest that the average FTBer has little or no savings which means they can't afford to get a mortgage.

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Yes because affordability is the big issue, if people don't want to buy until 100% mortgages return then what would that suggest to you? To me it would suggest that the average FTBer has little or no savings which means they can't afford to get a mortgage.

nail...on...head welldone.gif

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Anybody like Queen..........(found this we song strung together by a couple of posters on the economic thread) ;)

Is this the real life?

Is this just fantasy?

Caught in a housecrash

No escape from catastrophe

Open your eyes

Look up to the skies and see

I'm a homeowner, I need no sympathy

Because I'm easy come, easy go

Little high, little low

Anyway the wind blows, doesn't really matter to me, to me

Mama, just bought a place

Put a gun against my head

Pulled my trigger, now I'm dead

Mama, life had just begun

But now I've gone and thrown it all away

Mama, ooo

Didn't mean to make you cry

If I'm not back again this time tomorrow

Carry on, carry on, as if nothing really matters

Too late, my statement's come

Sends shivers down my spine

Money's leaking all the time

Goodbye flash MEW lifestyle - It's got to go

Gotta leave it all behind and face the truth

Mama ooo - (any way the wind blows)

I don't want to pay

I sometimes wish I'd never bought a BTL at all

I see a fiscal ignoramus of a man,

Scaramouche,scaramouche will you pay your arrears-

Base rates and leverage -very very frightening me-

Bigger bubble,Bigger bubble,

Bigger bubble, see it grow -HPC!-

But I'm just a numpty and nobody loves me-

Hes just a numpty from a chav family-

Spare him his cash from this monstrosity-

Easy come easy go-,can I IVA?-

Bismillah! no-,you cannot IVA-let him go-

Bismillah! you cannot IVA-let him go

Bismillah! you cannot IVA-let me go

you cannot IVA-let me go

you cannot IVA-let me go

No,no,no,no,no,no,no-

Mama mia,mama mia,mama mia let me go-

Beelzebub has repo put aside for me,for me,for me-

Cue hysterical May guitar solo...

So you think you can buy now and still survi-i -ive?

So you think you can sell now if you really try-y--y?

Oh baby - Hate to tell you this Baby

You're late to get out, too late to get right out of here

Its the price that really matters

Anyone can see

It's just the price that matters..........

to me......

Shove your rent rise where the wind blows.......

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Sophia, thanks - absolutely brilliant!

Thanks for posting here.. I'm a Queen fan was at Odyssey for Queen & Paul Rogers (ok diehards I know that's not really Queen without Freddie), plus would go to the Waterfront for the Flash Harry gigs - great craic. Flash Harry is doing a show at Odyssey with Ulster Orchestra next February - could well be a good show...

Big Queen fan here too.

Being 24, I never got to see them live first time round, but seeing them at the odyssey with Paul Rogers exceeded all my expectations.

I was standing a few feet from the front in front of Brian May - I remember just before the curtain came down seeing a silhouette of Brian complete with Red Special appearing on the curtain in front of me - it sent a shiver down my spine.

The whole gig was fantasic, but one of the major highlights for me was "I'm in love with my car"; for a second I just closed my eyes and I could have been at any queen gig from 20 years ago; it was surreal.

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  • 399 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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