Originally posted by MarillionFan
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Reply to: House price news
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Previously on "House price news"
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Originally posted by MarillionFan View PostStill on plan to retire at 50.
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Originally posted by TimberWolf View Post
I've just realised. If, as they say, the average first time buyer is around 40 (let's say it's 46 for the sake of witticism), first time buyers are now too old to take out a 25 year mortgage
(Which seems a bit odd when you consider that within 50 years typical Japanese houses collapse in a heap of earthquake rubble and termite droppings. Maybe most of the mortgage is for the land, and rebuilding the houses the easy part.)
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Originally posted by Halo Jones View PostLast May I got 5.4 fixed for 4 years
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Originally posted by TimberWolf View PostWhat mortgage interest rate does the average first time buyer pay these days?
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Originally posted by SueEllen View PostNah the "average" first time buyer is in their 30s.
BTW retirement age for those in their twenties and thirties is between 67-69, and will probably be increased to 70 very soon.
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Originally posted by SueEllen View PostNah the "average" first time buyer is in their 30s.
BTW retirement age for those in their twenties and thirties is between 67-69, and will probably be increased to 70 very soon.
The average age of the first-time buyer is now 38
No place like home: the generation who can't afford to buy - Property, House & Home - The Independent
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Originally posted by TimberWolf View PostI've just realised. If, as they say, the average first time buyer is around 40 (let's say it's 46 for the sake of witticism), first time buyers are now too old to take out a 25 year mortgage
BTW retirement age for those in their twenties and thirties is between 67-69, and will probably be increased to 70 very soon.
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Originally posted by SueEllen View Post6-7%
Though there aren't many first time buyers as most people can't get a mortgage.
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What mortgage interest rate does the average first time buyer pay these days?
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Originally posted by AtW View PostRates should start going up this year, and banks will jack them up faster for loans/mortgages, savers will still be shafted - that's my prediction.
We are more likely to see more QE than interest rate rises.
Inflation will be rampant.
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Yeah, they want inflation to do the work by inches. Still, a 5% a year drop in real terms is a 25% fall in 5 years and 40% in 10. Likely we'll get "unexpectedly" higher inflation than that though. If not, it's more QE.
Are we really richer than China, India or Patagonian hunter gathers when it takes 40 years to save enough even to get a mortgage debt, let alone buy a shelter?
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Originally posted by DimPrawn View Posthowever nothing can force people to sell and drop prices (unemployment makes no odds as the government pay your mortgage interest and interest won't rise for decades).
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House price news
BBC News - UK house prices fell 1.3% in December, Halifax says
UK house prices have continued to slip, falling by 1.3% in December from the previous month, the Halifax has said.
The lender, part of Lloyds Banking Group, said it meant the average property ended the year 1.6% cheaper than at the beginning of 2010.
But it said the decline was less than falls seen in the second half of 2008.
Halifax said it expected "limited movement in house prices during 2011" as interest rates were "likely to remain very low for some time".
It said that signs of a reluctance to sell from some homeowners could halt the decline in prices.
The average UK house price now stands at £162,435, Halifax said.
Prices can't rise (people can't/won't pay the silly prices), however nothing can force people to sell and drop prices (unemployment makes no odds as the government pay your mortgage interest and interest won't rise for decades).
So we'll have the prices we have now for the rest of our lives.
Here endeth my prediction.Last edited by DimPrawn; 10 January 2011, 10:39.Tags: None
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