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Debate House Prices
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Have we reached the bottom of house price drop??
Comments
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The bricks and mortar in the Great Wall of China was a technical break through, akin to the invention of the London Stock brick, the magic ingredient was rice.
BTW like a lot of the tourist sites in China much of what the tourist sees is a rebuild - a bit like us doing a renovation job on Hadrian's wall.0 -
Reckon prices have a considerable bit to go, based on economic indicators mentioned above and anecdotal evidence that sellers have been holding out for unrealistic asking prices that aren't going to come.
When they are forced into accepting what they can get for the house we'll see prices come down much further.
Which is a good thing.0 -
It could take longer to reach the bottom as most sellers won't accept their house is worth less than what it was 2 years ago. I recall in the last recession some over-valued houses being on the market for 4 years before they dropped the price to current market rate. I suppose the crash has to happen and the prices do need to return to their original values sooner or later otherwise the housing market will just stand still.0
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benchin440 wrote: »
BTW Well done on the weight loss :T
Yup. Nice one. You must be pretty pleased with your progress.0 -
Have we reached the bottom of house price drop??
no i think house prices will go down 50% in price from when they were at there highest and i dont belive a word the papers or who ever it is that keeps makeing these stupid guess es one bit0 -
http://news.bbc.co.uk/1/hi/business/7980813.stm this story says that we had almost a 2% drop in march thats a 2 grand loss on a 100,000 house in 1 month0
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I do not think we have seen the "bounce" yet. Maybe a slight recovery before going down again followed by another small recovery before going up.
I think the upward graph could be very steep as those that have put off moving and those that decide the bottom has been reached try to snap up bargains.
On the negative side it is likely that on the way up interest rates will shoot past their optimum level which could provide some hardship.
Then we can start talking about who and how we are going to pay back the billions that have been borrowed.35, semi retired, sun, sand, sea, life is good
When you are done moaning remember that there are people who would love to have your standard of living!0 -
The top was called in late November 2007, there is absolutely no way we have reached the bottom in just over a year. Double digit rises year on year pretty much since 2002, means we have a considerable way to go before self sustainability comes back into play and consistant rises define the bottom in retrospect.
People just won't accept 25-40k losses, it's basic human denial but actual worth will continue to fall regardless, for at least another 2 to 5 years; best/worst case in my humble opinion.
Global recession, huge job losses, public sentiment at all time low and people think prices are rising again?
I just don't get it.0 -
2% drop in march thats a 2 grand loss on a 100,000 house in 1 month
2 grand + interest on the loan still outstanding but minus the rent you would have had to pay for the same house otherwise
At some point it'll add up0 -
Why would most sellers not like a drop most people move upmarket when they sell so the house they are buying would drop further.0
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