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Debate House Prices


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Gordon Brown: We "must get the mortgage market moving"

Clearly the Prime Minister is on the side of the homeowner and wants prices to start rising again. Is it so implausible to suggest that he will succeed?

If he is successful and the market does bounce back (as I expect it to), let's hope the advice of those posters with a vested interest in house prices continuing to fall won't have prevented any first-time buyers from missing the boat.
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Comments

  • stevetodd
    stevetodd Posts: 1,016 Forumite
    Clearly the Prime Minister is on the side of the homeowner and wants prices to start rising again. Is it so implausible to suggest that he will succeed?

    If he is successful and the market does bounce back (as I expect it to), let's hope the advice of those posters with a vested interest in house prices continuing to fall won't have prevented any first-time buyers from missing the boat.

    lol wishing or saying it, aint going to make it happen! I can't see any rises for 4-5 years, and those rises will be from a much lower level than today's market
  • Think you will find not even GB is thinking house prices are about to start booming again just yet. He just wants people to stop being all doom and gloom and to start putting in offers, even if they are lower ones as thats what will start things getting back to normal. Everyone sitting back waiting for more drops will lead to people sitting there for years which really will drag the economy right down.

    It's a tough thing to motivate someone in to doing though and I don't think even his speech or 0.5% cut in rates will have made any difference. He's best off just trying to last a few months when people would naturally be looking for property anyway. People will only wait so long after all for cheap homes before they get sick of waiting and buy anyway.
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    And if they don't succeed, as I see as plausible, I hope those with vested interest in the market rising don't similarly influence FTBs to buy at a frankly unstable time! We all make our own decisions..any one relying either way on a discussion group rather than use it as a foundation for their own reponsibility, is rather foolish.
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    Landlady, Ive been tooing and froing about investing, but have today put in some offers on repossessed new built flats 50% less than original sale prices.

    Maybe further falls, but it's impossible to time, so there comes a point where you accept the discounts currently on offer, and then hope for the best.
  • The IMF warning is that America is now sliding into recession. The house prices here will continue to fall.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • Conrad wrote: »
    Landlady, Ive been tooing and froing about investing, but have today put in some offers on repossessed new built flats 50% less than original sale prices.


    I hope it's not on some of those many empty new build flats in Maidstone that nobody wanted to rent. EAs were still trying hard at the peak to get renters into them, but nobody would touch them. Some EAs even refused to take anymore of those maidstone flats on their rental books as they couldn't shift the ones they already had.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    The IMF warning is that America is now sliding into recession. The house prices here will continue to fall.

    ITV news report had a suggestion this was not to prevent recession but to prevent depresion, it was implied that recession was inevitable.
  • Conrad wrote: »
    Landlady, Ive been tooing and froing about investing, but have today put in some offers on repossessed new built flats 50% less than original sale prices.

    Maybe further falls, but it's impossible to time, so there comes a point where you accept the discounts currently on offer, and then hope for the best.

    When you say "hope" I hope you mean make a business decision after waying up the risks and factoring in contigencies for likely scenarios if things do get worse. To ensure you dont go under and can ride out any future storms.
  • ITV news report had a suggestion this was not to prevent recession but to prevent depresion, it was implied that recession was inevitable.

    I think so too. It was done to try (fingers crossed) to get a soft landing. Desperate times calls for desperate measures.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    ITV news report had a suggestion this was not to prevent recession but to prevent depresion.

    Well, it hasnt worked for me.
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