Tuesday, August 31, 2010
The NHF says it will all be OK by 2014 so buy now.
Housing group gives four-year negative equity warning
Strangely posted as a story at 0:00 hrs on the 31st August the NHF recons that the average buyer who bought in 2007 will have to wait till 2014 for their house to be worth what thet paid for it. i.e. they are expecting house prices to rise by 22% between now and 2014 because prices will "inevitably increase in the long term because of the huge under-supply of housing".
Posted by enuii @ 12:36 AM (1972 views)
12 thoughts on “The NHF says it will all be OK by 2014 so buy now.”
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montesquieu says:
And the rationale for what’s driving the 22% rise is ….. ?
Crunchy says:
1. montesquieu said…’And the rationale for what’s driving the 22% rise is ….. ?’
The rationale is that mortgage holders pay on average three times the loan amount back to the banks on a secured loan over 25 years.
It’s great business if both parties profit?
Tenyearstogetmymoneyback says:
What they are predicting is better than last time round, which seems a bit strange given that prices rose that much more this time.
Duncan
Bought 1989 £65500 Best offer 1995 £48000 Sold 1999 £70500 (and that is for a 1980 3 bed Wimpy House in Hampshire).
wdbeast says:
“But even at current depressed prices, he cautioned that houses remain unaffordable for most low-to-middle income families, thanks in part to tighter mortgage lending standards.”
So that will drive prices down, you plonker!
paul says:
But even at current depressed prices, he cautioned that houses remain unaffordable for most low-to-middle income families, thanks in part to tighter mortgage lending standards
Translation: “Prices are too low right now, but even though they are too low they might be unaffordable because banks are checking things like income now whereas before they were part of the fraud”
I’m astonished the BBC commits this crap to print, parrot fashion. Do the floppy-fringed meeja graduates at the BBC even read this stuff before posting it on the website?
hpwatcher says:
I’m astonished the BBC commits this crap to print, parrot fashion. Do the floppy-fringed meeja graduates at the BBC even read this stuff before posting it on the website?
I doubt whether anyone at the BBC really cares – as long as the website gets updated regularly.
Simon says:
BBC know they are all grossly overpaid and are making tokenry gestures to convince the Govt that they are dealing with it inhouse .
“thanks to tigher mortgage lending standards”
So nothing to do with being fundamentally overpriced with regards to earnings .
At the moment 75% of people do not save anything like what they will need for old age . How much would houses have to fall if people were compelled to save 25% of their income for old age in a non residential “property” related asset class ?
Crunchy says:
4. hpwatcher said…I’m astonished the BBC commits this crap to print, parrot fashion. Do the floppy-fringed meeja graduates at the BBC even read this stuff before posting it on the website?
Lambs to the slaughter. Eric Blair worked for the BBC. ‘Not a lot of people know that.’
The Baldman says:
Prices too high so unaffordable but great investment as sure to go up. Contradictory?
Haha says:
The National Housing Federation predicted that house prices would skyrocket between 2006 and 2011 … were they correct?
False Prophets create false profits! 🙂
cat and canary says:
sayiing “house prices could fall significantly” is a dirty phrase.
I stumbled (!) on BBC radio 4 this morning, driving to work, and they were talking about the above. The BBC present tried REALLY hard to say “house prices could fall significantly” but sadly, something must have got stuck in his throat. He couldn’t bring himself to say it.
mark wadsworth says:
You have to be careful with the NHF because they are the umbrella body for housing associations, so ultimately they are angling for more subsidies to housing associations so that they can do a bit of empire building.