Repossessions set for dramatic rise

[51st State]

THIS is the reason I think you are a tw*t, old pal.

Fine that you hold your own view that the market is going to fall, because you think (oddly) that there is a connection between average earnings and the average house price.

What's not fine, and makes you a grade A nob, is that every single day you post some drivel to "back up" your argument, almost taking in glee in the fact that the Mr Average that you're so protective of in one sentence is being repossessed, and that makes you so right, doesn't it?

We understand your point of view, and in two years you can come back and crow, but for now, why not give us a break and f* off back to your grubby little bedsit and count all of your imaginary money?

[oracleslave]

THIS is the reason I think you are a tw*t, old pal.

Fine that you hold your own view that the market is going to fall, because you think (oddly) that there is a connection between average earnings and the average house price.

What's not fine, and makes you a grade A nob, is that every single day you post some drivel to "back up" your argument, almost taking in glee in the fact that the Mr Average that you're so protective of in one sentence is being repossessed, and that makes you so right, doesn't it?

We understand your point of view, and in two years you can come back and crow, but for now, why not give us a break and f* off back to your grubby little bedsit and count all of your imaginary money?

51st wins on a TKO.

[Turion]

My posts are more informative than most of the clutter on this board. They are aimed at adjusting the perception that that property is only a one way up investment. Too many people have relied on house prices rising, and the easy availablility to pile further debt up on top of rising prices in order to fund further investment on property or even their holidays and cars. Unfortuneately for them, the days of 'adding it to the mortgage' are over. This is likely to cause a correction similar or worse to the early '90s. This is a natural market reaction to over bought assets and should be welcomed by those FTB's and upgraders.

Lower prices will benefit most people. But, in any correction there will be casulties. Judging by the replies to this thread, it's hurting some of you big time. Many contractors have put everything into BTL and built up large debts. That may be some of you. I suspect that some of you are in denial about this. Maybe some of you will be ruined and have to start again. Let it be a lesson learnt.

[BrilloPad]

My posts are more informative than most of the clutter on this board. They are aimed at adjusting the perception that that property is only a one way up investment. Too many people have relied on house prices rising, and the easy availablility to pile further debt up on top of rising prices in order to fund further investment on property or even their holidays and cars. Unfortuneately for them, the days of 'adding it to the mortgage' are over. This is likely to cause a correction similar or worse to the early '90s. This is a natural market reaction to over bought assets and should be welcomed by those FTB's and upgraders.

Lower prices will benefit most people. But, in any correction there will be casulties. Judging by the replies to this thread, it's hurting some of you big time. Many contractors have put everything into BTL and built up large debts. That may be some of you. I suspect that some of you are in denial about this. Maybe some of you will be ruined and have to start again. Let it be a lesson learnt.

personally I would welcome a fall in house prices. but the fall will not be as far or fast as you think.

[bogeyman]

My posts are more informative than most of the clutter on this board...

Now that's just the sort of thing AtW would have said.

I they aren't one and the same, they are certainly soul brothers.

[snaw]

Now that's just the sort of thing AtW would have said.

I they aren't one and the same, they are certainly soul brothers.

I thought exactly the same thing when I read that sentence.

[Bagpuss]

Fine that you hold your own view that the market is going to fall, because you think (oddly) that there is a connection between average earnings and the average house price.

What's odd about that? there is a link between average house prices and average earnings. Traditionally lenders have lent on 3.5 price to earnings ratio and house prices have been to some extent restricted by this. As lenders started to ease conditions, letting more people self cert (lie) and increasing the multiples it's no longer possible for an average wage to purchase an average house price on a 3.5 ratio.

The banks are returning to the old ratio and removing self cert mortgages which begs the question, who will be buying the houses? There aren't enough people significantly outside modal incomes to keep the boom going. That's why the purchasing power of average incomes is so important.

Don't forget the average UK price in many areas will only buy a flat, it's hardly luxury living.

[sasguru]

My posts are more informative than most of the clutter on this board. They are aimed at adjusting the perception that that property is only a one way up investment. Too many people have relied on house prices rising, and the easy availablility to pile further debt up on top of rising prices in order to fund further investment on property or even their holidays and cars. Unfortuneately for them, the days of 'adding it to the mortgage' are over. This is likely to cause a correction similar or worse to the early '90s. This is a natural market reaction to over bought assets and should be welcomed by those FTB's and upgraders.

Lower prices will benefit most people. But, in any correction there will be casulties. Judging by the replies to this thread, it's hurting some of you big time. Many contractors have put everything into BTL and built up large debts. That may be some of you. I suspect that some of you are in denial about this. Maybe some of you will be ruined and have to start again. Let it be a lesson learnt.

Not the sharpest tool in the box, are you? So house prices are not a "one way up investment"? Whoopeddy do dah, when did that genius insight strike you, shyte for brains?

[TimberWolf]

Can't be true, Gormless said there would be no more boom and bust.

[The Lone Gunman]

How many times does it have to be explianed to you.

There may be a house price crash, but personaly I doubt it will be that bad.

The major factor is whether borrowers can service their loans.
As long as they can they wont have a problem.
Things that will stop them is a big enough rise in interest rates or if they lose thier jobs.
At the moment the BOE is keeping the base rate fairly stable and there does not (at the moment) seem to be a massive surge in unemployment.

If there is a drop in prices then the market will dry up. People who are in negative equity will sit tight and not sell thus restricting the availability of houses thus pushing the price back up.

While rates are manageable and there is no threat to jobs there will be no crash as such.

When you can counter that then we may be in trouble.