London SE1 community website

SE1 House Prices Overvalued

Join in these discussions today! Log in or register.
Pages:  Previous1 2 3 4 5 6 7 Next
Current: 2 of 7
Friday 18 April 2008 1.05pm
Quote:
with the net result that the risk of price falls is greater here than elsewhere.

No..

with the net result that the risk of price falls as a result of that particular influence may be greater here than elsewhere.

Too many other ifs and buts.
Friday 18 April 2008 6.14pm
se1fan wrote:
I've bought my two bed flat with a friend, and we ain't going anywhere. We're not planning on selling up, so can ride out any storm.

I assume, then, that you won't need to remortgage? Negative equity isn't just a problem for those who need to move. All those people coming to the end of their two-year fixes face rising interest rates as it is - and the rates will be even more punitive for those who owe more than their flat is worth.
Friday 18 April 2008 9.21pm
Rises to what level? Have you guys forgotten the Thatcher years?
Monday 21 April 2008 10.16am
Don't worry. The Govt love home owners so much that they'll be bending over backwards to stop repossessions.

...if you press it, they will come.
Monday 21 April 2008 11.07am
Ivahoe...maybe or maybe not, but what about people with credit cards, car loans, and all sort of other financial comitments which are getting harder and harder to access...the whole situation seems to be a real mess and while today's Bank of England announcement may have a marginal effect on helping banks access the capital markets, if they are unwilling to lend monry to consumers because of much tighter eligibilty criteria then not much is going to be achieved. No doubt Alistair Darling will assure you that all will be right with the world if the evil bankers behave nicely but we shall all have to wait and see.
Monday 21 April 2008 11.16am
urbanite wrote:
Ivahoe...maybe or maybe not, but what about people with credit cards, car loans, and all sort of other financial comitments which are getting harder and harder to access....
Do you mean people with existing, say, car loans (in which case, they'll be at fixed rates), or people trying to get car loans in today's market (in which case the loans may be harder to come by, but do you really think that people are ENTITLED to credit, or do you think that credit is something that should only be given to people who have a reasonable chance of paying it back)?

The reason I made the comment about Govt bailing out home owners was that it galls me that people can borrow more than they can afford to repay and expect to be helped out when they can't repay it. There was an item on R4 news this morning about some group lobbying the Govt to help people on unemployment benefits who are having trouble with their mortgage repayments.

...if you press it, they will come.
Monday 21 April 2008 11.43am
The only way that I can see to get out of this mess that Gordon Brown has got us into - enormous national debt; enormous personal debt - is inflation.

10% per annum inflation will halve the value of debt within 7 years. Sorted.
Monday 21 April 2008 11.50am
I meant people who were trying to manage their finances whatever theat may entail really....and i agree with you entirely about people expecting to be bailed out when they shouldn't be....but lots of people are now getting caught out with having to pay basically for the mistakes of others (both borrowers and lenders) through higher rates and charges and that is making it difficult for them....

It stikes me, getting back to the original article that sparked this thread, that we're all exposed to the credit mess that has developed over the last few years, be we a good or bad borrower, and this will inevtably lead to a downturn in house prices.
Monday 21 April 2008 4.30pm
hi there

so was part of the original point..

over the last several years ppl have become slightly 'hypnotised' by the prospect of making easy money 'gambling' on the property ladder..

..especially those who are only half-way up...



*now* (if you value the rest of your financial life) is the time to make sure you cash in your chips properly


???
Monday 21 April 2008 4.48pm
urbanite wrote:
It stikes me, getting back to the original article that sparked this thread, that we're all exposed to the credit mess that has developed over the last few years, be we a good or bad borrower, and this will inevtably lead to a downturn in house prices.

Yes, assuming that we're all borrowers, which is not necessarily true.

...if you press it, they will come.
Pages:  Previous1 2 3 4 5 6 7 Next
Current: 2 of 7
Related news & features

To post a message, please log in or register..
September at a glance
Keep up with SE1 news

We have three email newsletters for you to choose from:

We are part of
Independent Community News Network
Email newsletter

For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.

7,000+ locals read it every week. Can you afford to miss out?

Read the latest issue before signing up

Also on the forum
Views expressed in this discussion forum are those of the contributors and may not reflect the editorial policy of this website. Please read our terms and conditions