A change in sentiment

poppy10_2

The talk around the office has gradually changed from house price crash denial, through anger and now on to the bargaining stage. A number of people who have been trying to sell their home are now saying they are "not going to give it away" and have stopped reducing and put it up for rent. Those that have rented out are not covering their mortgage, but are telling each other that it is only for a year or two, "until houses start rising again."

Wonder how long it will take to get through depression and finally acceptance, as per Kubler Ross.

RecoveringAlcoholic

Acceptance:

[FONT=Georgia, Times New Roman, Times, serif]God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and wisdom to know the difference. [/FONT]

Woby_Tide

if you honestly think that 99% of the population think prices only ever go up then there is only one moron around here

poppy10_2

Woby_Tide wrote: »

if you honestly think that 99% of the population think prices only ever go up then there is only one moron around here

OK, that was an exagerration, but still, I would agree that the vast majority of the population believe that house prices always go up (more than wage inflation) long term. Even people who lived through the last crash, who should know better, have had all the "strong fundamentals" and "supply and demand" nonsense drummed into them so much that they repeat it like a mantra.

m00m00

I've been using kubler ross comparisons on here for months


this forum is alternating still between denial and anger as far as it's resident bulls are concerned.

Pobby

I know, I know, I know. Mortgage free here. House up by 400% ! I have only one house. Me and Mrs. Pobby live in it. If it`s a tenner or a squillion quid it`s value (not price), value remains the same.

I can only point out that mewing is no more than using your house as collateral for a LOAN ! A loan has to be repaid.

We talked on another thread re life plans. My plan was (is) to stay here until retirement and then sell to by a bungalow at a well know seaside resort. This, back say 10 years ago would mean us finding an extra £10k from savings and then job done.Now that anount would be a great deal more so housies dropping in value suits me just fine.

We have heard all the stories about needing more homes, large amounts of people arriving from Eastern Europe (last time I looked many were on a one way trip back).

To me, in truth, there is no collective reason why my home is priced at a 400% increase to what it was 10 years ago.

wibble68_2

poppy10 wrote: »

The talk around the office has gradually changed from house price crash denial, through anger and now on to the bargaining stage. A number of people who have been trying to sell their home are now saying they are "not going to give it away" and have stopped reducing and put it up for rent. Those that have rented out are not covering their mortgage, but are telling each other that it is only for a year or two, "until houses start rising again."

Wonder how long it will take to get through depression and finally acceptance, as per Kubler Ross.

Yes, I think the penny has finally dropped.

Most of my friends and family have been telling me for years
that prices only every go up. I've been a great believer in boom
and bust cycles, purely because these cycles are driven by greed.

Now my friends and family have gone very quiet on the subject.
I wouldn't lower myself to tell them "I told you so", but it would
be nice if some of the people who told me that I was mad, and
didn't know how the housing market worked, would admit to
being wrong.

carolt

Mercifully, for that still large percentage that believe house prices only ever go up, rescue from the consequences of their own folly has come in the shape of that unlikely knight - the Credit Crunch. Protecting People from Buying An Over-Priced Rabbit Hutch is his motto.

Never fails.

If they can't afford it, they now (mercifully) can't buy it. Phew. That's my job done.

Zelie

wibble68 wrote: »

Yes, I think the penny has finally dropped.

Most of my friends and family have been telling me for years
that prices only every go up. I've been a great believer in boom
and bust cycles, purely because these cycles are driven by greed.

Now my friends and family have gone very quiet on the subject.
I wouldn't lower myself to tell them "I told you so", but it would
be nice if some of the people who told me that I was mad, and
didn't know how the housing market worked, would admit to
being wrong.

Very poetic.

(I assume you use notepad or similar to create posts. I always like the way those posts get formatted).

mr.broderick

m00m00 wrote: »

I've been using kubler ross comparisons on here for months


this forum is alternating still between denial and anger as far as it's resident bulls are concerned.

Yes i'm still angry my ronaldo thread was deleted...

mr.broderick

carolt wrote: »

Mercifully, for that still large percentage that believe house prices only ever go up, rescue from the consequences of their own folly has come in the shape of that unlikely knight - the Credit Crunch. Protecting People from Buying An Over-Priced Rabbit Hutch is his motto.

Never fails.

If they can't afford it, they now (mercifully) can't buy it. Phew. That's my job done.

Even with higher multiples of income lending it was still slightly based on the fact you could afford to pay it back.