We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House prices 'see first double-digit fall'
Comments
-
I Do know that the better properties will rarely be bought for a song and it is the rubbish that struggling people, end up with, and it is the rubbish that sells for the lower figures in a downturn of the market
Like I have been saying all along.
The quality homes that everybody wants as their dreams homes do not come up every day and will continue to hold their value.0 -
pickles110564 wrote: »Like I have been saying all along.
The quality homes that everybody wants as their dreams homes do not come up every day and will continue to hold their value.
One of the first places we looked at came through the post with a substantial price cut this week. I don't know whether you'd class it as 'quality'. Semi detached little cottage (not ancient but not delapidated), home counties, a few acres (can't remember how many, but itro of 4-5 acres). These were the sort of propeties I have been assured will hold their value, but it seems they are stating to fall too. This week I notice a few things dropping into my prime location.com set budget too.0 -
however there are people (i currently call them fools) who panic (and i say without any reason) that they need to sell because they have made £250k on their property in the last few years and think that this will be totally wiped out. the benefits of London is that there is much more foreign investment.
Agree to a certain extent , although I do tend to feel that central london is very different from London. I cant see the Saudis or the russians, or the indians, buying a 2 bed conversion in Catford, or an exlocal in Peckham.
i think thats why people have historicaly said that central will remain high - but outer london is taking its hits. But we know that Central is also taking hits ( as per property beee anyway), maybe there isnt As many investors coming in right now
I dont know? :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
i tend to agree with this - i can only speak for Central London though.
In my neck of central London woods (WC1) there are some really quite large drops....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'.0 -
I agree that the press as always are making the problem worse, but are you saying that if all the FTB's (with deposits and good credit history) came back to the market the banks could produce the funds?
For what it is worth I think this house crash will be faily short lived because I believe it was caused by a dramatic shock to the system (credit crunch) which in turn is causing fairly dramatic falls in the housing market over a short period caused by:
(a) Lack of finance for cash strapped FTB's
(b) Market driven by distressed sales ( i.e. low transactions and housholders not bothering to move if they do have to).
In addition I think that the market was cut short of hitting a peak by the CC which should in turn limit the downside. These quotes of 20/30% current annual drops based on the last three months are a little strange as I would expect the annual drops to slow after this month as annual comparisons will be based on falling prices not increasing ones, with August being the peak.
I can also forsee a reduction in inflation in the next 12 months as contracting commodity prices have a negative inpact on inflation thus allowing the BOE to drop interest rates. This combined with the lack of houses being built could provide some support for house prices.
Touch paper lit, I will just stand back now.
Not too bad that Stevie and you didn't even know that they would allow Lehmans to fail, nice to see !!!!!! in full flow
that trulysaintly seemed 'on the ball' pity they are not still around.
Ahh I think that lovely bank holiday sunshine beckons later.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Fantastic news for all us FTB's who have been waiting patiently! :j
Sad for anyone who risked all at the peak, obviously, but then no-one 'made' them buy......
:rotfl:
Oh, what a difference a year or two makes.......:D
How's that "patient waiting" going carolt?:j
And now that the last 12 months gains have completely wiped out the falls discussed in this article, how many of the "patiently waiting" FTB's actually pulled the trigger and bought a house at the bottom? :cool:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
-
HAMISH_MCTAVISH wrote: »:rotfl:
Oh, what a difference a year or two makes.......:D
How's that "patient waiting" going carolt?:j
And now that the last 12 months gains have completely wiped out the falls discussed in this article, how many of the "patiently waiting" FTB's actually pulled the trigger and bought a house at the bottom? :cool:
Is 'hubris' in your vocabulary, Hamish?
Post again a year from now, and let's see what difference another year makes.
BTW, glad to se your Saturday night was spent fruitfully trawling my posts from 2 years ago...0 -
They just have to realise how long this downturn will last, its not a short term blip and its only just got started.Let's see how that works out for them as prices continue downwards for a few more years and then take until about 2017 to get back to where they were last year (based on previous housing cycles) :rotfl:
it's good to see these old threads and the sentiment of a couple of years ago to see how wrong and how deluded these people were and some still are.It looks as if the 'long term trend' has been pulled upwards by the most ridiculous inflated mental pyramid selling scheme that housing has seen. I suspect the 'long-term trend' will look quite different in about two to three years time.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards