Gawd, you lot are boring. Now I’ve filtered you all, only the sensible posts will get through |
Jugears
"I know a large construction company that won a billion pounds worth of work but still went bust"
Good to see you now agree, it's not all 1 way for HBs.
"Not everyone has an affordability problem buying a home though"
No one has ever said everyone. Not everyone was forced to sell their home or went bankrupt during GFC. Not every home needs to crash 40%++.
"for starters over 30% pay cash"
Hypocrite again. You're back to suggesting a small interest rate fall will result in hundreds of thousands to buy a new build!!!! |
Sikh I know a large construction company that won a billion pounds worth of work but still went bust, what is the bottom line on 27 million, I would expect at least 4 or 5 million but in reality it will be more like a few hundred k!
Not everyone has an affordability problem buying a home though, for starters over 30% pay cash,Lets be clear some people will always find buying a house out of their reach, others will struggle but not everyone & that is my point, you are say that houses are unaffordable to everyone which is not the case.
You've made a substantial loss on TLY so why include that? I have made very good gains on other shares as well thanks, as you know RR is just one of those, which TBF probably beats all of yours lol.
Why would I pay for ADVFN when its free to use? what benefits would I get?
It's not a competition! |
How's TLY doing? I don't think buyers will hold off & wait at all, once rates fall demand will pick up & so will prices, there is already fewer houses on the market, my area alone is down nearly 30% on Pre Covid Levels, with the number of new home being built at a decade low as well, buyers will be more worried about missing out rather than waiting for lower rates IMEO
Affordability effects many people in different ways, not everyone will be effected coming of fixed rates, some of those may be coming to the end or only have a small mortgage left, None of us know!, some people have affordability issues buying a washing machine others a Bentley, absolutely anything could happen but most likely wont, I don't know what is going to happen in my life in the next 10 seconds so there is no point trying to predict the future & life is way to short to even worry about it, I've bought some nice cheap shares today, that is all that I'm concerned about, once again just another storm in a tea cup. |
Affordability is a major problem, the HBs themselves have said so. Interest rates have already been cut twice over past 6 months, yet HBs shares have fallen.
Huge tax rises negate small decreases in interest rates
sikhthetech - 15 Jun 2023 - 20:14:39 - 13970 of 20875
UH,
Of course interest rates will eventually come down. However, potential homebuyers holding off for lower rates means lower sales for HBs. These potential homebuyers could hold off for months or more than a year, if prices continue to fall.
Interest rates coming down maybe good for those about to buy their 1st home but the problem is interest rates are expected to be higher for longer. Those waiting may have to wait a long time.
In the meantime, the hundreds of thousands who are coming off the fixed rate deals taken out over the past 2-5 yrs will face significantly higher mortgage payments and possibly for many years..
That's on top of credit cards, loans and higher taxes and energy bills.
Affordability is a major problem. |
All 10k of them know less, lol oh lol, you have to laugh really but could seriously improve relationships between the UK & Europe, Tbf though we manufacture the best products in the world in the UK, even if Trumpton does impose tariffs I think it will make little difference to uk exports. |
BedBug, “ I can't see how trumps tariffs are going to effect a uk house builder?”
Probably the potential customers of the UK house builders that are affected by more global and UK economic uncertainty ? |
Meanwhile Tw continue to build & sell houses.I can't see how trumps tariffs are going to effect a uk house builder? note how he includes uk in his comments about Europe & then backs down, You can understand where he is coming from but there is a good reason why we don't buy goods from America, mostly because they are to bloody big especially cars although TBF we buy Ford & Chrysler & as the UK is 40 times smaller than the US then it stands to reason that we will buy less than we export, IMEO I don't think trump will impose tariffs on the Uk. |
Think I’ll have to forget about 123p Slugs. Market looking negatory |
Tariffs. Ftse100 stock futures plunge apparently. Um oh ah err now what |
HBs are offering more and more incentives to entice homebuyers.
More and more mortgages taken for > 25Years, because there's an affordability problem. |
I expect the BoE will cut interest rates on Thursday.
Affordability crisis... Nah. |
“ average 'income' of a FTB couple was £66k per annum “
If they hang on to their job. I can’t imagine Berks holding down a job for 25 years, and Bugs would’ve been sacked in the first year for swearing and public order offences |
S100,
I stated correctly from TW. report...
"average 'income' of a FTB couple was £66k per annum or £5,500 pcm."
Management role (not senior) in SE is earning before tax over £60k
I know many 'workers' on six figure salaries before tax (earnings).
This is increasing as skilled workers have had pay rises of over 10% compound over the last two years, excluding bonuses.
In TW. 2022 the estimated average loan to value for first time buyers was c.78% without Help to Buy and c.68% for second time buyers and the majority of TW. customers were choosing five-year fixed mortgage products in 2022...
I expect the BoE will cut interest rates on Thursday.
Affordability crisis... Nah. |
Fair argument Beckers but you forgot about income tax. Will take at least £1k off that £3k you say ftb's have in their pockets after mortgage. £2k a month doesn't go so far these days to cover council tax, bills, loans, food, car repairs etc. That's before they've done anything for fun.... |
Jugs,
In the TW.2022 preliminary report, they stated the average income of a FTB couple was £66k per annum or £5,500 pcm.
A £300k mortgage with a 10% deposit is less than £1,600 pcm. Less than renting a decent 3 bed house in the SE.
As TW. command a higher price for a better property, say a mortgage of £2.5k per month still leaves Wimps FTB's with £3k per month.
Affordability crisis...Nah.
Working class have never been able to buy a house, only in Maggie's great giveaway.
Working class have been able to afford to buy a house since.
As I have stated over a year ago, the UK housing market dynamics have changed.
Now, when is the UK house price crash going to happen? Lol, just lol! |
Unfortunately your average first time buyer probably couldn’t pop into the field next door and knock up five houses. So back to square one; affordability |
 My dad always told me if you want something save up for it, why borrow money & line someone else's Pocket!. I always wanted an Aston Martin but by the time I had saved up for one I decided that I liked the look of the money in my bank account better, most people buy a house to live in & not as an investment or to rent out,unfortunately the system of paying in most cases is over a long period of time, if you are buying a property to rent out then its important to make sure you are still covering cost if interest rates rise, always best to overpay each month as well, I can never see the point of interest only mortgages, they are no better than renting a property, TBF if I was buying houses now to rent out I would want to see at least 50% of income as profit after all overhead, I personally wouldn't buy houses to rent out though now,not enough return for me, I can buy a small industrial unit for 100-160k & get 11k in rent each year, at the time when I built my 5 houses we were in a recession & due to its difficult location proved more expensive to build than I had anticipated so I decided to rent them out for the short but still have them all these years later, fortunately all now fully paid for as are all of my assets. |
No problem getting into debt, so long as someone else, such as a tenant, is paying for it,
Problem is the buyers have the full burden of the debt |
Kreapy I think you have a very low opinion as to how uk people manage there finances, you assume that everyone is over stretched which isn't true, for starters over 30% of buyers pay cash, I think that covid has taught a lot of people how to manage money better, the number of people in mortgage difficulty is lower now than 2019. Live within your means, save money & you wont get into debt. |
It's not unusual to get mortgages for 49 (forty!!) years, and that's before the loosening of mortgage criteria.This share has everything ready now, for a pre dividend rise. |
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