Crosswords1 min ago
How Much More Can House Prices Increase?
With wages not keeping up there must come a point where first time buyers can no longer afford to get on the property ladder, consequently those who wish to sell cannot move up, so the whole thing will come crashing down.
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At one point in the early 90s my mortgage was 16%.
The economy has been on that overstretched elastic for decades - house prices increase, wages increase, the cost of goods in the shops increase - a never ending cycle.
When interest rates increase (they will) the house market will crash, house prices will fall but the cost of mortgage repayments will go up and here we go again.
The economy has been on that overstretched elastic for decades - house prices increase, wages increase, the cost of goods in the shops increase - a never ending cycle.
When interest rates increase (they will) the house market will crash, house prices will fall but the cost of mortgage repayments will go up and here we go again.
Thats assuming everyone and his dog is eligible. With Job losses and furlough due to Covid it must be more difficult to qualify for a mortgage. Roadmans estimate for a deposit is optimistic at the least. Most first-time buyers will need at least £15K deposit unless they are lucky enough to get a house on a shared equity basis.
First time buyers..............Yes there are those who simply struggle and will never get on the housing ladder.
But at the same time, how many young people do you see who are always moaning they have no money to save but have to have a £900 latest phone and £125 trainers and £90 pair of jeans and spend £5 on some naff coffee everyday. And drive relatively new cars.
They can get a deposit. You just have to sacrifice a few things.
But at the same time, how many young people do you see who are always moaning they have no money to save but have to have a £900 latest phone and £125 trainers and £90 pair of jeans and spend £5 on some naff coffee everyday. And drive relatively new cars.
They can get a deposit. You just have to sacrifice a few things.
who was it who said - - your posts are incomprehensible hoo-ey?
never mind
Cant buy - then rent. the current market upturn was not predicted however it does mean the market is currently hot.
1970=1973 house prices tripled in 18m BUT that was linked to the increase in oil prices ( the western economies just tripled their prices to match BUT it took 18 m 'to work thro'
and will the bubble burst
well ithas done so before BUT
//Yes I remember thinking that in the early 1980s then ever since//
are wise words - showing prices DO fall but not very often
hoo-ey or not, all truth is here
never mind
Cant buy - then rent. the current market upturn was not predicted however it does mean the market is currently hot.
1970=1973 house prices tripled in 18m BUT that was linked to the increase in oil prices ( the western economies just tripled their prices to match BUT it took 18 m 'to work thro'
and will the bubble burst
well ithas done so before BUT
//Yes I remember thinking that in the early 1980s then ever since//
are wise words - showing prices DO fall but not very often
hoo-ey or not, all truth is here
it's completely crazy that rents are so high, and mortfage payments are by and large cheaper, yet mortgage companies apply such strict affordability criteria - how can i prove i can affor a 700 pm month repayment? well ive been paying £1k per month in rent!
I was lucky as when i first got a mortgage we borrowed 105% (back in the early 2000s when you could actually do that) i have also been lucky to have a variable rate that tracks at 0.5% above BR and since ive had it the BR has only ever gone down
I was lucky as when i first got a mortgage we borrowed 105% (back in the early 2000s when you could actually do that) i have also been lucky to have a variable rate that tracks at 0.5% above BR and since ive had it the BR has only ever gone down
Prices fell in 1999 - some places up to 50%
oh, more hoo-ey - - house prices with time and area
follow the covid equations. - U tube there is a clever cambridge boy who managed to get to the covid equations to give a travelling wave along a radius. - and it takes a short fort to see that the travelling wave can be covid cases or rise in house prices ....
just saying
oh, more hoo-ey - - house prices with time and area
follow the covid equations. - U tube there is a clever cambridge boy who managed to get to the covid equations to give a travelling wave along a radius. - and it takes a short fort to see that the travelling wave can be covid cases or rise in house prices ....
just saying
// t one point in the early 90s my mortgage was 16%.//
oh
end of the eighties ( thatcher years were high inflation remember) my higest was 12.5% - eek. You just paid as the market was slow
rent - there is an advantage ( in moolah) to being able to say to the landlord - "bye bye sucker, four weeks and I go back to mummy"
oh
end of the eighties ( thatcher years were high inflation remember) my higest was 12.5% - eek. You just paid as the market was slow
rent - there is an advantage ( in moolah) to being able to say to the landlord - "bye bye sucker, four weeks and I go back to mummy"
There was one time when the Halifax was the biggest / largest home owner in Britain. They were foreclosing and chucking out on the slightest default - and people were even posting the keys back to them.
It took at least two years for the Halifax t realise that they had countless houses which were empty and not giving income as rent, and that they had done it to themselves - - - so they awarded each other bonuses
It took at least two years for the Halifax t realise that they had countless houses which were empty and not giving income as rent, and that they had done it to themselves - - - so they awarded each other bonuses
LeonBlank 10.15 and I guess houses cost around £500 when you were a first time buyer lol!
My parents bought their first house in about 1974 and it cost £3000 which was about 2.5 times my dads annual salary. My brother bought a house last year for £280K , an average house for the area, and this is about 6 times his annual income.
Things change.
My parents bought their first house in about 1974 and it cost £3000 which was about 2.5 times my dads annual salary. My brother bought a house last year for £280K , an average house for the area, and this is about 6 times his annual income.
Things change.
curleh?
are you sure?
The seventies were a time of high inflation ( 30% in 1976)
and it means that he was on £1000 / y - and The Sunny Sun around that time 'chortled' that dustbin men were on 900 a year.
My first mortgage as a 5 y old was £12500 in 1979 and I was on £5165. mortgage exactly 2.5 x
Ma Dayddy - d 1973 - was told by a fella 'my biggest mistake was not buying ( a ruin) for £25 in 1945
are you sure?
The seventies were a time of high inflation ( 30% in 1976)
and it means that he was on £1000 / y - and The Sunny Sun around that time 'chortled' that dustbin men were on 900 a year.
My first mortgage as a 5 y old was £12500 in 1979 and I was on £5165. mortgage exactly 2.5 x
Ma Dayddy - d 1973 - was told by a fella 'my biggest mistake was not buying ( a ruin) for £25 in 1945
In the 60s and 70s it was usual for the husband to go out to work and the wife to stay at home and look after the children, consequently the affordabilty of mortgages was more often based around one wage. As more women wanted a career, there was an extra major wage earner which increased the affordabilty of a bigger mortgage, which then pushed up the price of affordable homes. This is not a criticism of working women before everyone starts jumping up and down, just a thought that it might be one factor.
Yes....He left school at 16 and has been in work ever since. He used to live with his GF and her parents and paid £70 a week rent.
My other son has just finished uni so is paying off his overdraft. As soon as that's done he'll be charged rent. I don't actually know how much he earns.
I'm very private when it comes to money. I don't even know how much my OH earns and he doesn't know how much I earn.
I do know my son said he was on a starting wage of £160 and it'll go up after 6 months.
My other son has just finished uni so is paying off his overdraft. As soon as that's done he'll be charged rent. I don't actually know how much he earns.
I'm very private when it comes to money. I don't even know how much my OH earns and he doesn't know how much I earn.
I do know my son said he was on a starting wage of £160 and it'll go up after 6 months.
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