Mass Hysteria

do_it_today!

ad44downey wrote: »

Mid-life crisis IMHO. Senile dementia next.

I thought this thread was about house prices not other posters ?

Jonbvn

Dithering_Dad wrote: »

I take it you're one of these people. Why do you think I'm an idiot?

Don't take it personally DD. If you do not agree with every word written by the HPC'ers then you (apparently) are either a troll or have multiple personality disorder.

Jonbvn

ad44downey wrote: »

Mid-life crisis IMHO. Senile dementia next.

Isn't that evading the question?

WTF?_2

Dithering_Dad wrote: »

Bit free with your accusations today ad44downey. What rattled your cage anyway? I don't remember seeing you in in the housing boards before and so certainly don't recall us having any 'rucks'.

Ever since you started accusing me, carolt and posh*spice of being the same person a couple of days back, the accusations of sock-puppetry have escalated through the board.

I'm sure you can be proud of the trend you have set.

rumbaba

PasturesNew wrote: »

I just selected 3 bed houses in Banstead, then went to page 10 (to get into what might be called the "nice" area) - these houses are priced at £325-340k. Of the 10 on that page they were:

1] On since May, no reduction
2] On since May, reduced by £40k, sold
7] On since April, reduced by £10k, sold
9] On since February, reduced £35k, still not sold
10] On since April, reduced by £35k, still not sold

The rest were new on in August. So, 80% of houses that have been on since before August have reduced their price by about 10%

Hi PasturesNew

Those properties are in the cheaper part of Banstead - they're going more towards Tadworth which is a mixture of nice roads, but also unattractive roads filled with drab council housing.

The nice part of Banstead, which goes towards Woodmansterne, Chipstead Valley and West Purley seems to be holding it price.

An example of a typical 5/bed in the nice part of Banstead is something like thishttp://www.rightmove.co.uk/viewdetails-14882630.rsp?pa_n=1&tr_t=buy

do_it_today!

I think we'll see mass Hysteria if prices drop by 30%
I wonder if I can wait that long to buy

WTF?_2

rumbaba wrote: »

I realise that some properties have dropped in price but as there seems to be fewer properties on the market; few buyers; and fewer mortgages available how can we have a true picture of the market?

Round my way the falls have been tiny - but the very nice properties are not even going up for sale. And looking at the property pages it seems it's mainly the poorer properties that have dropped considerably; the nice properties are not falling anywhere near as much.

Could all this panic and doubt be causing mass hysteria thus preventing stagnation?

There's certainly a lot of media hysteria about but the facts are that we are only just beginning to see bad news.

This crisis has been brewing for years and it has been extensively predicted by plenty on these very boards long before the media caught on to it. Until about six months back, the media was giving the message "house price inflation, full steam ahead". Maybe they are making up for their years of neglect when they bombarded the public with misinformation about what was going on in the markets and failed to tackle the issues behind of the scenes of excessive debt and loony lending.

rumbaba

http://www.rightmove.co.uk/viewdetails-14882630.rsp?pa_n=1&tr_t=buy


Sorry, I don't think I posted the link properly.

By the way - these are the gen prices for 4 beds - not 5

Dan:_4

!!!!!!? wrote: »

There's certainly a lot of media hysteria about but the facts are that we are only just beginning to see bad news.

This crisis has been brewing for years and it has been extensively predicted by plenty on these very boards long before the media caught on to it. Until about six months back, the media was giving the message "house price inflation, full steam ahead". Maybe they are making up for their years of neglect when they bombarded the public with misinformation about what was going on in the markets and failed to tackle the issues behind of the scenes of excessive debt and loony lending.

Six months ago the media were full off "HOUSE PRICE'S SEE BIGGEST FALLS SINCE 1992", "WE'RE ALL DOOMED", etc... I thnk the media have been on the case pretty much since the NR disaster last year.

Give it another 12 -24 months, when they get bored, it will be back to HOUSE PRICES RISE AGAIN to flog their papers.

WTF?_2

Dan: wrote: »

Six months ago the media were full off "HOUSE PRICE'S SEE BIGGEST FALLS SINCE 1992", "WE'RE ALL DOOMED", etc... I thnk the media have been on the case pretty much since the NR disaster last year.

Give it another 12 -24 months, when they get bored, it will be back to HOUSE PRICES RISE AGAIN to flog their papers.

In 24 months, house prices may well be rising or at least flat with rises in prospect. I personally think we'll get at least a couple of years of stagnation once the low point is reached, though.