Monday, October 26, 2009

LTSB survey – BOMAD ready to be sucked in

Parents advise property purchases

With figures showing that housing is at its most affordable level for six year, the vast majority of parents believe it is the right time for their children to secure a mortgage.

Posted by jack c @ 10:41 AM (1417 views)
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9 thoughts on “LTSB survey – BOMAD ready to be sucked in

  • mark wadsworth says:

    Yup, bring it on, let’s get it over with. Once BOMAD has been sucked dry, we can get on with the crash.

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  • ‘the vast majority of parents believe it is the right time for their children to secure a mortgage’

    No offence but the vast majority are often wrong and not particularly bright.

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  • Isn’t it the ‘vast majority of parents’ that got the country into this mess in the first place by borrowing too much, relying on property as an investment and over inflating house prices?

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  • World-class journalism – if you had a quid for every typo in this article you wouldn’t need money from your parents!
    It might be a good time to get a mortgage but it’s still a lousy time to spend it on a house…

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  • The Bomad are lords in the developing neo-feudalistic system. Cash and savings are worthless (or shortly about to become so)
    You’re either in or out – no Party has the stomach to upset the 70% + with chips, at this particular roulette table.
    Really is different this time…..pass the bonus.

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  • mark wadsworth says:

    @ Braindeed, sure, the political reality is that the LIbLabConsensus wants to prop up house prices at all costs (e.g. George Osborne only opposes bankers’ bonuses because he wants them to lend every last penny to mortgage borrowers, as well as scoring a few cheap politicial points). But there is also an economic reality – you cannot use mortgage equity withdrawal (i.e. BOMAD) to prop up house prices – that would be like inventing a perpetual motion machine.

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  • I refer the Honourable gentleman to my previous remarks, particularily the elements thus: ‘no Party has the stomach to upset the 70% + with chips’ and ‘Really is different this time…..pass the bonus.’

    The ‘market’ has a pnuematic hose inserted up it’s Jack C.

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  • If the children are living at home then the parents advising their children to purchase a property must be “nuts”. The best thing they can do is to save as much as they can by living at home. Ah! this must be a problem with many of the children, they do not know how to save. Perhaps this is why they are advising their children to purchase a property. Some sort of savings plan, naive but a discipline perhaps. The best advise any parent can give to their children is wait and see but save as much as you can.

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  • LTSB Survey??? a lender saying its safe to buy – WOW must be ok then – despite others predicting at least another 10% off next year? save your money FTB’s

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