Debate House Prices


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Housing gloom 'worst in 30 years'

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  • tee_pee_2
    tee_pee_2 Posts: 1,674 Forumite
    I am posting on here for an outsiders opinion ie not my parents in my ear all the time).

    Our house is not for sale but I am seriously wanting to put it on the markert, I want to move as have seen a bigger house which needs work and as such has been reduced to my price range.

    My mum is petrified I will end up i this crash if indeed we actually manage to sell our current house,

    but I keep thinking the gap bw my house and prospective new house is 30k, so if I sell during the possible crash and then buy, as long as the dif bw the two houses is still 30k I'll be Ok?

    IS that right?
  • nelly_2
    nelly_2 Posts: 17,863 Forumite
    10,000 Posts Combo Breaker
    tee_pee wrote: »
    I am posting on here for an outsiders opinion ie not my parents in my ear all the time).

    Our house is not for sale but I am seriously wanting to put it on the markert, I want to move as have seen a bigger house which needs work and as such has been reduced to my price range.

    My mum is petrified I will end up i this crash if indeed we actually manage to sell our current house,

    but I keep thinking the gap bw my house and prospective new house is 30k, so if I sell during the possible crash and then buy, as long as the dif bw the two houses is still 30k I'll be Ok?

    IS that right?

    sort of no

    if your present house 200 g and the new one 300 g then 10% crash on the new one is minus 30 g but 10% of the old one is 20 g
  • Paul_N_4
    Paul_N_4 Posts: 344 Forumite
    adr0ck wrote: »
    http://www.economist.com/finance/displaystory.cfm?story_id=10431721&CFID=2510984&CFTOKEN=17826789

    Thanks for the link adr0ck.

    So Japan's housing stock is replaced about every 30 years. So old houses are knocked down and replaced with new houses. Can you explain how this changes the supply/demand dynamics of housing in Japan? Cause I'm thinking if you replace a house with a house, the supply hasn't changed, so how does this fit in with the house price crash in Japan?

    Also, if our houses last longer, then that means that more will be about for longer, adding to supply in this country because the older houses are still good enough to live in here (certainly for longer than 30 years). I'm not saying we have an over supply of housing, but not replenishing housing stock in this country as often as in Japan doesn't seem to be an argument against house prices in this country dropping in a similar way to Japan's.
  • nelly_2
    nelly_2 Posts: 17,863 Forumite
    10,000 Posts Combo Breaker
    Paul_N wrote: »
    Thanks for the link adr0ck.

    So Japan's housing stock is replaced about every 30 years. So old houses are knocked down and replaced with new houses. Can you explain how this changes the supply/demand dynamics of housing in Japan? Cause I'm thinking if you replace a house with a house, the supply hasn't changed, so how does this fit in with the house price crash in Japan?

    Also, if our houses last longer, then that means that more will be about for longer, adding to supply in this country because the older houses are still good enough to live in here (certainly for longer than 30 years). I'm not saying we have an over supply of housing, but not replenishing housing stock in this country as often as in Japan doesn't seem to be an argument against house prices in this country dropping in a similar way to Japan's.

    ignore ardock he is the thickest poster on this site
    all he cares about is his perceived wealth in his house price

    so much so he actually belive houses in japan get rebuilt every 30 years:rotfl:
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    RDB wrote: »
    The truth is the older the better in the UK. The materials were better back then.

    Some buildings several hundred or more years old built of stone are very good quality and will last over 1000yrs.

    My parents' house was built as a wooden hall house; it's an oak frame, which everything else rests on. It's pretty much as hard as stone, after 700-odd years!

    In Tudor times, timber frames were seen as a bit old-fashioned, and it was covered in brick outside, and new-fangled stone chimneys and a dividing floor were added.

    Houses like this have foundations that would make modern building regs people scream - they don't exist. The thing just sits on the land.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    tomstickland wrote: »
    I don't come into contact with many materialistic people. Does anyone else have experience of this sort of behaviour? ie: manic spending of non-existant money based on the value of a house.

    I don't personally, but there are quite a few on this site, one way or another!
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • jamescredmond
    jamescredmond Posts: 1,061 Forumite
    neverdespairgirl: don't want to get too personal but when do you actually sleep, and for how long?

    my excuse is perfect: i work shifts and right now it's 0237 and I'm knackered!!!
    miladdo
  • Trollfever
    Trollfever Posts: 2,051 Forumite
    Just testing my new signature.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Walter_J wrote: »

    Boning up for their meeting with the Official Receiver tomorrow?

    ;)

    ...and you would know all about that Walter.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I knew a report like this would be released yesturday morning, the same time Gorden Brown was to meet with the banks. It seems to me that the banks/surveyors etc with a interest in the housing/mortgage markets are publishing these types of stats to create the media headlines in order to get the BoE to act.
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