Credit where it's due

[BrilloPad]

Do you have any idea how difficult your posts are to read?!

Do you believe it was Northern Rocks 125% mortgages which caused them to get into trouble AtW?

Do you actually read atwat's posts?

Best to do what the rest of us do and tell him he does know what he is talking about. 99% of the time you will be right. Of course he might start a thread entitled "how to start rubbish threads" upon which he is an expert.

[SallyAnne]

Do you actually read atwat's posts?

That was my first mistake!!

[AlfredJPruffock]

Fixed that for you

Grey Slates remain - Grey Slates

Fixed that for you

[AtW]

Do you believe it was Northern Rocks 125% mortgages which caused them to get into trouble AtW?

Yes of course - if they had conservative 65-70% LTV ratio on their morgages they would have no problem selling whole bank: the buyers were put off primarily by the fact that NR was loaning to people who on one hand were likely to default and on another hand there was no room to withstand inevitable drop in house prices.

It's not the shut off of money markets that killed them, it's the crock of a portfolio that resulted in their demise.

[Cyberman]

Not sure whether to agree with you or not, but what does strike me about your predicted scenario is that most professional working couples will still only be in a financial position to buy houses in traditionally "working class" areas - around the 200K mark.

I just don't understand who will be buying the houses in the traditionally "middle class" areas around the 300K mark.

People don't just buy a 300K home as their first purchase. People will continue to trade up as and when they want to and can afford it depending on their equity. Thus strong demand will continue to be there and house prices will rise accordingly.

[chicane]

People will continue to trade up as and when they want to and can afford it depending on their equity.

My equity is currently around minus 5K. I bought in 2005. Hopefully I'll be able to afford the 300k house in around 2109.

[AtW]

My equity is currently around minus 5K. I bought in 2005. Hopefully I'll be able to afford the 300k house in around 2109.

If they print more money you might be able to afford to buy £300k house much sooner than you think. It just won't be the same £300k house as it is now.

[Cyberman]

My equity is currently around minus 5K. I bought in 2005. Hopefully I'll be able to afford the 300k house in around 2109.

I was telling friends and colleagues not to buy in 2006/7 and rent instead as I could see prices falling, as interest rates were so high. Nobody would listen, but I bet they wish that they had.

[Cyberman]

My equity is currently around minus 5K. I bought in 2005. Hopefully I'll be able to afford the 300k house in around 2109.

My equity is around 300K, built over 25 years and if you wait a year or so you will be back in positive territory. House ownership is a no-brainer !!

[AtW]

House ownership is a no-brainer !!

You can say that again...