Roll up. Make your housing market prediction here.

GreenB_2

I can see another drop within the next 6 months.

Making borrowing cheaper can kick start people into buying things which stimulates the economy which BOE now seems to be worried about.

Perhaps some economists view low house inflation as damaging - certainly all the media hype about crashing house prices (which has not happened despite predictions over a year ago) hasn't helped the economy at all and just made peoply worry and panic to some degree. I'd agree that two figure house inflation is probably not good either.

nelly_2

I think where the boe failed was over the last 2 or more years, letting everybody borrow like mad off norton finance etc etc thats why the economy is in decline cos there all starting to pay back the interest and not spend else where because they have no more money they cant. If the boe had upped interest rates a bit back then this borrowing wouldnt have looked so atractive.

And its going to last for years not months as well.

meanmachine_2

During the good times you put up interest rates and support your currency, so that, when the bad times roll in - which they inevitably will - you have room to cut and stimulate growth.

You're also meant to deal with debt during the "good times".

Sadly, none of these things have happened, which is why the economy is in trouble.

And we simply won't be able to cut rates when US rates are soaring. Or will we?

meanmachine_2

GreenB wrote:

I can see another drop within the next 6 months.

Making borrowing cheaper can kick start people into buying things which stimulates the economy which BOE now seems to be worried about.

No, I'm afraid you're wrong there.

THe BoE is in fact saying that, next year, it foresees "growth" and therefore won't be cutting rates.

Unfortunately for homeowners and agents, it sees growth in equities, not bricks and mortar.

Sorry.

HugoRune_2

Just sold my house so I hope they plummet now!
actually, I think they'll stagnate for quite a few years, then soar again like they just have done, seems to be a cycle thing now. Trick is getting in there just at the end of stagnation I guess

GingeG

Hugo

Just bought one at top of my budget so I hope they stagnate or rise modestly!

I am not after huge gains just do not want to be the mug who bought at wrong time. At end of day I have the house me and Mrs GingeG like so I guess prices are all relative as in about 6 years I will be selling up down here (South) and moving back to Gods Country (Scotland) where I can still buy a whole street for what I just paid for a 1940's detached .

And yes I had to sell my kidneys on ebay to get the mortgage

meanmachine_2

Good luck with that Ginge

My advice is to step away from the computer and not look at this site again for six years.

In fact, it really shouldn't matter to you what happens next.

If everything drops it's all relative anyway.

Can I ask how big it is....? The mortgage I mean.

By the way, I hope you've taken out a nice long fix - that'll help you ween yourself off property internet sites.

GingeG

200k Mortgage put in 30k deposit we had in savings.

House was on for 249950. Negotiated to 230. I hope thats a good enough buffer for me.

meanmachine_2

That's a 25% buffer, from top asking price. So you should be OK in the shorter term, and over the longer term, well it doesn't really matter I guess.

IN_LIKE_EVERYONE_ELSE!

Down! I just wanted to be the 100th poster!