Gaps between selling and asking prices

lostinrates

MrDT wrote: »

Oh for God's sake are we suddenly the bloody huggggs subforum now!?




...ah, who am I kidding, come here neverdespairgirl, you can have a hug

I know, I know. In my defence I'm struggling with the cold DH gave me, and have a hotwaterbottle trapped to my left ear...which makes one feel distinctly unwitty, and consumed what must have been my weeks caloies yesterday in whisky and honey, making me even less bright. I thought it more important to rally coherantly than attempt wit or excellence:o

neverdespairgirl

That sounds very unbalancing, a hot water bottle to one ear!

Hope you feel better soon. Try camomile and spicey apple tea as an alternative to the whisky?

lostinrates

Edited to remove a bout of self pity.

pickledpink

neverdespairgirl wrote: »

That sounds very unbalancing, a hot water bottle to one ear![/quote



It would be awfully difficult to put a hot water bottle to BOTH ears!!!!!:D

Unless you've got a very small head of course........................:p

Kez100

Why are some challenges so impossible to not rise too.

You're right, I can't. I can touch both ears but not get them covered properly.

lostinrates

Kez100 wrote: »

Why are some challenges so impossible to not rise too.

You're right, I can't. I can touch both ears but not get them covered properly.

So funny!

In all seriousness, it is possible to use two but it makes me feel claustrophobic.

Kez100

Kez100 wrote: »

I'm not talking of a rebound of epic proportions and actually agree with all you say in that respect. What I do think is out there are plenty of potential FTBS - more by the day, sat waiting. They have been waiting for years. I also suspect they are the most financially savvy. They have not allowed themselves to be pulled along for the ride.

If interest rates stay low and 90% mortgages come back and the house market bottoms out at below expectations, these people will jump on the case. So long as funding is there and there is employment, these people are a good risk not bad.

I do agree, and said as much, that unemployment will be a big player in all of this.

What are your thoughts on theis thought of mine (please do feel free to desecrate it - I'm all full of clever ideas which probably wouldn't work!)

I sort of wish house prices would just adjust over night. If house builders of new build sold their stock tomorrow at, lets say, 50% off. Not some gimmick but really 50% off wouldn't that help both kickstart the building industry and mortgage lending (which is at its lowest level and needs to increase with proper levels of reglation of % LTV limits and either no BTL or BTL with high deposits - say 50%). Yes, people who bought since 2000-2002 would be mightily sad but they are going to be anyway, let's be honest.

There are enough new builds across the country that if they were to sell at 50% off it could help an adjustment in the normal market too as EAs have hard evidence to put to sellers that no one is going to pay their prices when a new build costs a third less down the road.

The longer nothing moves the more employment in these areas suffer. The more they suffer the more it later affects others who serve them. I'm thinking the quicker the house price adjustment the better for all concerned.

Go me!

Barratts have dropped some new builds by 43% today. They must have read my post above!

What they now need to do, is drop the new build homes sold to individuals/families as well.

Then we need some Government intervention (not sure what) in respect of negative equity. I'm not looking to wipe off debt at all but some measure to help coping so they don't have to be stuck forever, basically, in the same property.

dopester

Kez100 wrote: »

Then we need some Government intervention (not sure what) in respect of negative equity. I'm not looking to wipe off debt but some measure to help coping.

You've lost me there. Just because they are in negative equity, by whatever amount, doesn't mean they won't all be able to keep up their original mortgage commitment they took on.

You remember? The monthly repayments they were happy to sign up to, although which may have increased a little after teaser rates all gone. They might still have same or even better incomes.

If they absolutely need to move, stumped with n/e, maybe a scheme to allow n/e people to swop locations or carry the debt over.

Kez100

dopester wrote: »

You've lost me there. Just because they are in negative equity, by whatever amount, doesn't mean they won't all be able to keep up their original mortgage commitment they took on.

You remember? The monthly repayments they were happy to sign up to, although which may have increased a little after teaser rates all gone. They might still have same or even better incomes.

If they absolutely need to move, stumped with n/e, maybe a scheme to allow n/e people to swop locations or carry the debt over.

Yes, that's what I meant. I do not wish any debt to be written off.

Whilst I would love to see a very quick acceptance of big drops - help possibly to kick start not growth and not high profit, but maintenance of the building sector and all the sectors that thrive off of that, I don't want to see people trapped for what could be decades.

We had NE you see in 1994 but it was £6k so perfectly possible to save ourselves out to move. However, that's peanuts compared to today's figures with at least a 0 on. I DO think people must take responsibility but I also think the Government are going to have to pay to some extent one way or the other (maybe through bank aid following more bankruptcies or extra benefit for more unemployed). I'd prefer to see them helping at the bottom of the triangle rather than the top. To that end I do agree with you in that the measures required are more portability than the word I used 'coping'. Wrong term, I accept.

I'd also prefer the bottom to be helped in this way as I can see a lot of lives could be lost through suicide if prices fall as much as they are likely to and don't recover due to a correction in lending practices.

dopester

IveSeenTheLight wrote: »

fully agree.
I even posted something well back about understanding regional variations
http://forums.moneysavingexpert.com/showthread.html?t=898381

Hey ISTL,

Can't recall seeing you on the forums in recent days. You and mitchaa are usually around this time each month to hold up the shield of Nationwide's stats for Aberdeen.

How did this month grab you and your crash-proof regional variance theories ? :rotfl:

Aberdeen -7%

Meanwhile, Aberdeen recorded the greatest reversal in fortunes. The Granite City, which had previously recorded the highest prices in Scotland, has now been knocked from the top position.

In the second quarter this year, house prices in Aberdeen rose by 3 per cent year-on-year, but in the third quarter the average price in the city dropped by 7 per cent.

http://news.scotsman.com/scotland/Scottish-housing-sector-joins-the.4555236.jp