House price fall "accelerating"

Zammo wrote: »

You said it DreamBreaker. And you're looking increasingly more desperate with every post you make. Don't you think it's morally bankrupt advising people to buy in a crashing housing market? Just because you are going down, doesn't mean you should try and drag as many others as you can down with you.

:rotfl: going down, why on earth do you think that :rotfl:
What do you deem to be a crash? House prices falling by what % in what time? Strange how noone has answered that one yet?

bigjoe wrote: »

Dreambreaker is entitled to his opinion. End of.

Fed up with the morally righteous who think they can lord it over others because they disagree. I found his posts interesting even if I don't agree with him.

Thanks a lot big joe!! :beer:
It appears there is a small element of this forum who only want people who agree with them that the property market is going to crash. They are not able to take an alternative opinion.

I never professed to be right I was just offering an alternative view point. I could easily be wrong and if I am, I don't really care. I just want to have a debate and read other peoples interesting posts for and against a property market crash.

What some of the people on her fail to see is that I have agreed with them on many points, even thanked some of them, however, they just don't want to consider any opinion that is even remotely against a property market crash. Strange really I thought they would want to see objective opinions???

boinging wrote: »

Currently prices are dropping 1% per month. - Fact
Prices have dropped consecutively for 3 months - Fact

Thus I would conclude that this is more than a dip as we've had an interest rate drop that had no effect and we are now looking at over a quarter of drops.

Firstly, we had an interest rate drop, what, last month? That will not be reflected in the market for some time yet, maybe about 3 months time from now! Just as when rates started to rise we didn't immediately see an affect i.e. the housing market slowing down.

Secondly, house prices have fallen "slightly" before like in 2005, only to pick up again drastically! If you count the month of December as a month which generaly ALWAYS see's a slow down in the housing market, then that's only 2 months that have seen a decline.

You could be right, there may be a correction in house prices by possibly as much as 10% but I would be surprised if they correct much more than that, on the other hand I am more inclined to think next year house prices will probably stay about the same if not rising by approximately 2-3% for the year. Whatever happens will probably depend on interest rates next year which I think will be cut 2 times in first half of the year!

What should be remembered is most of the big UK banks have not altered their lending policies, sub prime mortgages have always played a very small part in their lending although the media would like you to think otherwise!

In 1986, when I was 22 years old, I bought a 3 bed semi for 23k and sold it 2 years later for 49k. I bought another house straight away and sold it in 1989 and made another 20-odd grand. (this was a lot of money then for one so young)

I thought "this is fantastic" and imagined doing the same thing over and over for about 15 years and then retire a multi-millionaire. And no-one could tell me any different.

Luckily for me, I ended up going travelling around europe for 2 years and when I came back I found that i could buy equivalent houses that I had sold for 40k+ for about 25k. And I promptly bought 2 (one of which I have just sold)

I am certain that if I had stayed in this country I would have blown all my money by buying overpriced houses at the top end of the market and would have ended up in deep !!!!!!.

Unfortunately at the time there was no internet where you could do research and find out about stuff like economic cycles and the only advice I was hearing was typical HPI cheerleader stuff from friends and family.

So now, with hindsight and the knowledge I gained from first hand experience of the last crash I can see that 2007 is the equivalent of 1989 and I have absolutely no doubt that things are heading the same way.

Everything that happened then is happening again now and just like I wouldn't listen then, people are not listening now.

DreamBreaker wrote: »

Once again carol, wrong assumpion, not all my proeprties were bought many moons ago!

Ah, so your an idiot then.

Anyone buying at the peak should be sterilised to prevent them passing on the idiocy gene.