G0ldfinger Posted September 8, 2011 Author Report Share Posted September 8, 2011 The simple truth that all these naysayers of the house:gold chart don't get is this: The amount of gold that was a 20% down-payment in 2004 buys them the whole(!) house today. Link to comment Share on other sites More sharing options...
Van Posted September 8, 2011 Report Share Posted September 8, 2011 What is of far more interest to me & JD I suspect is what a 20% downpayment in gold today will get you. Link to comment Share on other sites More sharing options...
LauraB Posted September 8, 2011 Report Share Posted September 8, 2011 What is of far more interest to me & JD I suspect is what a 20% downpayment in gold today will get you. It is what will get you the whole house in 4 years time So why not slum the interim on a Caribbean island? Link to comment Share on other sites More sharing options...
LauraB Posted September 8, 2011 Report Share Posted September 8, 2011 Yes, but that is a very long way off, and getting further by the minute. Fine, we will just watch sterling's further decline as a wealth store. The more the 'govt'./banksters press on the property fake pedal the further sterling falls & before you know it £3 trillion odd isn't worth the ex-triple A pc screen it's displayed on. Link to comment Share on other sites More sharing options...
BoldAsBrass Posted September 8, 2011 Report Share Posted September 8, 2011 Push rates up ... and it is ALL CHANGE ! Whose interest is it in to put rates up? Whose interest is it in for rates to stay low? Savers have, apparently, lost £43 billion in interest. Borrowers have, apparently, saved £58 billion in interest payments. On the face of it the banks have £15 billion less to spend on bonuses and there is £15 billion more sploshing around in the economy - on the basis that most people spend the money they don't pay on mortgage interest. Only the dedicated few pay down their mortgages. When the global economy is in the same boat - can't see where the pressure to raise rates will come from. We could have low rates for 10 years. Maybe 20 years. Who knows? One thing is certain, people with money to save will start looking for better yields and may even 'invest' rather than save. Link to comment Share on other sites More sharing options...
BoldAsBrass Posted September 8, 2011 Report Share Posted September 8, 2011 Fine, we will just watch sterling's further decline as a wealth store. The more the 'govt'./banksters press on the property fake pedal the further sterling falls & before you know it £3 trillion odd isn't worth the ex-triple A pc screen it's displayed on. Against the dollar and the euro - sterling has flat-lined for the last 3 years. Link to comment Share on other sites More sharing options...
John Doe Posted September 8, 2011 Report Share Posted September 8, 2011 Fine, we will just watch sterling's further decline as a wealth store. The more the 'govt'./banksters press on the property fake pedal the further sterling falls & before you know it £3 trillion odd isn't worth the ex-triple A pc screen it's displayed on. Exactly, then we sell our gold and pay off all our debts! Loveley jubeley Against the dollar and the euro - sterling has flat-lined for the last 3 years. Yep, we won the race to the bottom and now the others are trying to catch up. Link to comment Share on other sites More sharing options...
LauraB Posted September 8, 2011 Report Share Posted September 8, 2011 Against the dollar and the euro - sterling has flat-lined for the last 3 years. Fiat paper is just holiday money, not a store of wealth. Link to comment Share on other sites More sharing options...
John Doe Posted September 8, 2011 Report Share Posted September 8, 2011 Fiat paper is just holiday money, not a store of wealth. And houses? As the great Julian Beck said to Tubbs and Crockett.... "Money is a commodity!" Link to comment Share on other sites More sharing options...
drbubb Posted September 8, 2011 Report Share Posted September 8, 2011 Fiat paper is just holiday money, not a store of wealth. Neither is a Store a store of wealth these days Link to comment Share on other sites More sharing options...
drbubb Posted September 8, 2011 Report Share Posted September 8, 2011 Whose interest is it in to put rates up? Whose interest is it in for rates to stay low? Savers have, apparently, lost £43 billion in interest. Borrowers have, apparently, saved £58 billion in interest payments. I think those BTL wizards that saved that money, really need that extra money. I wonder if the BofE feels like a Bizarro Robin Hood, doing good works backwards Link to comment Share on other sites More sharing options...
LauraB Posted September 8, 2011 Report Share Posted September 8, 2011 Neither is a Store a store of wealth these days ?? - I'm guessing, anything to do with hoarding & Methinkshe's posts? Link to comment Share on other sites More sharing options...
drbubb Posted September 8, 2011 Report Share Posted September 8, 2011 ?? - I'm guessing, anything to do with hoarding & Methinkshe's posts? Not many things are left being a store of value - that was my point. And even Gold may have its comeupance one day. They used to say "safe as houses"- will that still be said in 2014 or 2015 ? Link to comment Share on other sites More sharing options...
John Doe Posted September 9, 2011 Report Share Posted September 9, 2011 Not many things are left being a store of value - that was my point. And even Gold may have its comeupance one day. They used to say "safe as houses"- will that still be said in 2014 or 2015 ? If you are mortgage free, as many UK households are, then yes. Link to comment Share on other sites More sharing options...
BoldAsBrass Posted September 9, 2011 Report Share Posted September 9, 2011 I think those BTL wizards that saved that money, really need that extra money. I wonder if the BofE feels like a Bizarro Robin Hood, doing good works backwards First, an aside, even with my new 30mb BT Infinity broadband - this site is running like a dog today. And, you haven't answered the question. You make regular statements about how it will all change when interest rates go up (same as we all made back in 2003 on the site that has become too weird to mention). But, whose interests is it in for interest rates to go up? Because, I observe that actions take place that are usually in somebody's interest. And making sure people who have saved money earn more (unearned) interest at the expense of far more people who have debts seems to me to not be a good enough reason. That and the fact it will take the economy down. The current situation is surely the opposite of endlessly rising house prices - i.e. it is a transfer of money from the old to the young. Which strikes me as a good thing. Link to comment Share on other sites More sharing options...
Van Posted September 9, 2011 Report Share Posted September 9, 2011 Mortgage rates have fallen in the last month. 2/3/5 year fixed and tracker mortgages are all cheaper - all lenders have cut these deals between 0.25 - 0.5%. The housing market maybe experiencing headwinds, but costly borrowing is not one of them. Link to comment Share on other sites More sharing options...
John Doe Posted September 9, 2011 Report Share Posted September 9, 2011 Mortgage rates have fallen in the last month. 2/3/5 year fixed and tracker mortgages are all cheaper - all lenders have cut these deals between 0.25 - 0.5%. The housing market maybe experiencing headwinds, but costly borrowing is not one of them. And if QE3 targets long dated bonds, as is widely expected, the fixed long term mortgage rates will be falling further too. Low rates look like they are here to stay for quite a long time. Osborne: 'Low Interest Rate Is Key To Economy' Link to comment Share on other sites More sharing options...
Van Posted September 9, 2011 Report Share Posted September 9, 2011 And if QE3 targets long dated bonds, as is widely expected, the fixed long term mortgage rates will be falling further too. Low rates look like they are here to stay for quite a long time. Osborne: 'Low Interest Rate Is Key To Economy' The way its looking now, I'm pretty confident that when I come to remortgaging in Sept 2013 I'll be able to get a better deal than I'm on now (not withstanding that if keep on track with my overpayment schedule I'll be looking at < 60% LTV anyway). Link to comment Share on other sites More sharing options...
John Doe Posted September 9, 2011 Report Share Posted September 9, 2011 The way its looking now, I'm pretty confident that when I come to remortgaging in Sept 2013 I'll be able to get a better deal than I'm on now (not withstanding that if keep on track with my overpayment schedule I'll be looking at < 60% LTV anyway). Could well be. Just discovered that Nationwide will lend me 4.5 x earnings! (3.69% fixed for 5 years) I told them I thought that had all stopped, but it’s apparently all based on affordability now. Or perhaps just back to the real good old days, when they only lent you money if you didn’t really need it I'm going to hang on for a bit, to see if I can get better than this currently in the US. The average rate for a 30-year fixed loan dropped to 4.12 percent in the week ended today from 4.22 percent, Freddie Mac said in a statement today. That’s the lowest in the McLean, Virginia-based company’s records dating back to 1971. The average 15-year rate fell to 3.33 percent from 3.39 percent. Mortgage Rates in U.S. Fall to Record Low Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 10, 2011 Author Report Share Posted September 10, 2011 Oops. http://gold.approximity.com/gold_charts.html http://gold.approximity.com/since2001/UK_House_Prices_in_Gold.html Link to comment Share on other sites More sharing options...
John Doe Posted September 13, 2011 Report Share Posted September 13, 2011 More figures looking gloomy House prices in year to JulyWales: down 0.1% England: down 1.5% Scotland: down 1.8% Northern Ireland: down 4.1% Source: Department for Communities and Local Government Yet, as we keep saying, it is a market of many sub-markets Ms Howes said that those having the toughest time in the current market were sellers who had bought new-build apartments in 2006 and 2007 and were now looking to move on. Often this was because they had bought at the height of the market, had found it easy to get a 100% mortgage, but now needed a bigger home having had children or found a partner. At the opposite end of the scale were sellers in villages further out of the town centre, with larger homes in areas with good schools. "They are doing infinitely better than the town centre," she said. http://www.bbc.co.uk/news/business-14885963 infinitely better! EA's, gotta love em Link to comment Share on other sites More sharing options...
tinecu Posted September 13, 2011 Report Share Posted September 13, 2011 More figures looking gloomy Yet, as we keep saying, it is a market of many sub-markets http://www.bbc.co.uk/news/business-14885963 infinitely better! EA's, gotta love em Then there's the home.co.uk asking price index... http://www.home.co.uk/asking_price_index/ See the comment section on negative equity. Link to comment Share on other sites More sharing options...
John Doe Posted September 13, 2011 Report Share Posted September 13, 2011 Then there's the home.co.uk asking price index... http://www.home.co.uk/asking_price_index/ See the comment section on negative equity. Wow, a month gone by already! Yep, lots of NE. And lots more QE it seems too. Link to comment Share on other sites More sharing options...
drbubb Posted September 14, 2011 Report Share Posted September 14, 2011 MORE FRAUD - The Life of Reilly? (No wonder they want homes in expensive London boroughs) Tenancy fraud costs UK taxpayers over Pds. 2 billion per year Almost 160,000 council homes are estimated to be illegally sublet - three tiems the official figures + A racket that is costing the taxpayer more than Pds. 2 billion per year + The homes could be use to house others on a waiting list + Based on a study of 125,000 properties run by 10 local councils + Study concluded that at least 3 pc of Britain's five million social housing units were unlawfully sublet + Cost to taxpayer: maybe Pds.18,000 per year per tenant (??) Link to comment Share on other sites More sharing options...
drbubb Posted September 14, 2011 Report Share Posted September 14, 2011 "LONDON PROPERTY is Like Gold" Estate agents are telling their clients in London EXCERPT: Residential in London is trading like gold at the moment.... PEOPLE WANT LONDON + The fundamentals of London property remain strong + London residential property continues to outperform all other UK asset classes + London prices remain resilient with capital values forecast to grow 30% by 2015 + Strong rental yields and low occupancy levels with strong rental forecast of 27% by 2015 + London is an established global market with a massive international audience + UK interest rates are at an all time low + Lack of residential properties with an imbalance between low supply and very high demand The UK is a tax efficient country for astute property investors To find out more why you should consider purchasing a London property, please visit our London property seminar. Link to comment Share on other sites More sharing options...
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