or Relocation (or whatever they are calling it now) ........ that for the new series in 2008 they will stop the charade of pretending that buying your own house brings with it a pot of gold?
Its shows like this that fuelled the UK's obsession with buying houses for the past decade which has priced many people out of the market, and those that did jump on board late on will be having their homes respossessed in about 12 months time as they realise that they should have paid a little more attention in economics class to realise that interest rates dont stay low forever, that they go in cycles, and that house prices do also go down as well as up.
House prices have fallen around 3% in the last month, or at the rate of almost £1000 a day ............. a fact Kirsty and co conveniently keep quiet.
(yes I know my attack on Kirsty seems random, but these shows only ever paint the good side of owning a property not the potential pitfalls which is not balanced TV).
2007-12-16 22:09:57 · 8 answers · asked by dave s 2 in News & Events ➔ Current Events
Still buying a house in good condition, located in a neighborhood where housing is appreciating at a nice percentage a year, and locking in the mortgage at a low fixed rate IS a far better investment than renting which doesn't allow one to build up any equity.
2007-12-16 23:12:28 · answer #1 · answered by sunshine25 7 · 2⤊ 0⤋
Well, it used to be a good investment When prices were more reasonable, you put down 20 percent and paid the mortgage off in 30 years time. But now...they have created supply and demand, give loans with no money down at inflated prices so that you will never really own it but will keep paying high monthly payments. There are no surprises where money is concerned and some of these bankers should be in jail. Too, people need to do their own homework and stop relying on jacked up phoney advertizements and promises. Same goes for equity loans...it's all a gamble now isn't it?
Thanks for a good and timely question. Same thing going on in the US. My in law is a realtor in Florida and she tells me half the state is in forclosure...and there are NO jobs. Star for you.
2007-12-16 22:57:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I really don't know what makes Kirsty such an expert on house buying - so, she fronts a television programme - let's face it, most of us could do that with the right information and a camera crew. She was on Question Time last thursday bleating on about house prices and her hollow predictions. Is it quite frightening that she is an adviser to the Government on housing - exactly what qualifications does she have?
2007-12-17 00:04:40 · answer #3 · answered by Anonymous · 2⤊ 1⤋
I agree with you...these property programmes will disappear next year as we begin to witness carnage in the housing market....lol
2007-12-16 23:19:32 · answer #4 · answered by Anonymous · 1⤊ 0⤋
We have the same shows in the U.S. . . . they are now using terms like "expected profit" or "potential profit." "Tricky financing" is another huge term. If the U.K. goes anything like the U.S., it will take about another year for people to realize how %$#$ed they really are . . .
P.S. These shows should be required to have legal disclaimers like the dare devil shows "Do not attempt to do this at home . . ."
2007-12-16 22:26:05 · answer #5 · answered by CHARITY G 7 · 1⤊ 0⤋
leave Kirstie alone shes lovely !
2007-12-17 00:08:29 · answer #6 · answered by openyoureyespeople! 5 · 1⤊ 0⤋
Buy the house!! :)
You said you know me Jack H??? From where!?
haha Your a stalker! lol j/k
*~Happy Holidays~*
2007-12-20 04:05:27 · answer #7 · answered by ♥Genipher♥ 2 · 0⤊ 0⤋
Been stung then?
2007-12-17 01:37:20 · answer #8 · answered by Misty Blue 7 · 0⤊ 0⤋