House prices 'see first double-digit fall'

Pobby

mr.broderick wrote: »

That's a very balanced post carol, you been on the prozac?;)

This is getting really boring now. It might have been funny a few months ago but this is getting really rather childish.

mr.broderick

Pobby wrote: »

This is getting really boring now. It might have been funny a few months ago but this is getting really rather childish.

Pobby stop attacking me !!

Generali

mr.broderick wrote: »

I know but carolt just doesn't get this.

At the risk of sounding like a bad soap opera character (is there another sort?), "Brodders, leave it aht. She ain't wurf it".

Pobby

Mr. B sir. Certainly not attacking you. What I find amazing is that I have got to be the oldest property bear that posts on this site. By George, I am semi retired, that`s how old. I have said so many times that I see hpi as a recently experienced as the greatest, government approved, pyramid (ponzi) system ever. So much disposable income has been sucked out of the economy to pay mortgages. More and more silly mortgage deals were designed to lure people into what is now proving to be a huge trap( I am already witnessing this with one of my own younger family members).
Well good oh, that has really benefitted the banks, not.

I repeat my challenge. Can anyone tell me why that last year my house was worth 400% more than it was 9 years earlier?

I notice no one attacks me. Guess it`s `cause I am old.:)

mr.broderick

Pobby wrote: »

Mr. B sir. Certainly not attacking you. What I find amazing is that I have got to be the oldest property bear that posts on this site. By George, I am semi retired, that`s how old. I have said so many times that I see hpi as a recently experienced as the greatest, government approved, pyramid (ponzi) system ever. So much disposable income has been sucked out of the economy to pay mortgages. More and more silly mortgage deals were designed to lure people into what is now proving to be a huge trap( I am already witnessing this with one of my own younger family members).
Well good oh, that has really benefitted the banks, not.

I repeat my challenge. Can anyone tell me why that last year my house was worth 400% more than it was 9 years earlier?

I notice no one attacks me. Guess it`s `cause I am old.:)

Pobby a good comedian should never have to explain his jokes. I wasn't attacking you i was just mimicking carolt's response to a challenging post she received the other evening.:cool:

spark1

brit1234 wrote: »

They will eventually. They just have to realise how long this downturn will last, its not a short term blip and its only just got started.

People also have to realise that the more property comes down it makes it cheaper for people to move to bigger houses.

So in reality property falls are good for most.

Just hope what you say happens cause I wanna trade up

dopester

mr.broderick wrote: »

No it is just that they could afford to unlike you, but hey i've always said teachers were under paid.

And they are likely to find themselves unemployed or taking pay cuts in the very near future.

trulysaintly

carolt wrote: »

Of course, it is just one snapshot, but its conclusions are very similar to those of the Nationwide recently.

If you mean the DCLG figures, they are always several months out of date by the time they arrive, but tend to follow a similar trajectory.

Surprise Surprise the Nationwide figures are based on their OWN lending as well.

In fact, if you check the last set of DCLG figures in June, it actually showed an increase year on year of 1.1%.

This was however before the press and the 'experts' in the online forums made the slowdown more spectacular by over-egging the real reductions...

trulysaintly

obsessed_saver wrote: »

Actually, I disagree with your deducement.

Sellers clearly are reducing, that's why we are seeing falls. But the mortgage crunch has made it very hard for borrowers to get mortgages, which is why we are seeing reduced volumes.

The lower volume is not due to the fact that sellers are holding out.

Sorry the mortgages are out there for the average person who doesn't have a bad credit history, and a deposit of 5% or more.

People aren't bothering to look because they believe what they they are told in the press....

obsessed_saver

trulysaintly wrote: »

Sorry the mortgages are out there for the average person who doesn't have a bad credit history, and a deposit of 5% or more.

People aren't bothering to look because they believe what they they are told in the press....

Really? At what rates?

I'm not saying that the mortgages has completely disappeared, but saying it's very hard to get one. Either because of stricter lending criteria, or just being more expensive that people can't afford the interest rate at the current housing price levels.

So, it's because of affordability for buyers that volumes are down, not because sellers are holding out for better prices.