Crash Crash Crash !!!!!!!!!!!!!!!!!!!!!!!!!!!

Lewis1967

heathcote123 wrote: »

It would probably be a bit more relevant if posters who claim house prices are crashing could maybe state their area?

No doubt hp's round here have risen sharply over the last year and still seem to be rising - I'm in Hertfordshire. Yes there was a bit of a dip 2008 etc, but to put it into context, it was tiny, and prices seem to have risen way past that again.

I want to upgrade my house, so would welcome a huge crash... just think people are kidding themselves if they think thats whats happened.

If you only look at price and do not consider value then yes there is no crash, and no doubt about it 'prices' will be higher in 10yrs from now.

The value will be lower though because everything else will have gone up a lot more than property did in those 10 years.

Dan:_4

Lewis1967 wrote: »

The value will be lower though because everything else will have gone up a lot more than property did in those 10 years.

Not wages, or at least by much. So property value will be roughly the same in 10 years. (Im talking about 2008-2018)

Dan:_4

Lewis1967 wrote: »

You mean are crashing still.



In reality property is still crashing, it is going to take some time to reach bottom.

The sooner interest rates go back up the sooner the bottom can be reached and the next bull market in property can begin.

If interest rates correcting is postponed it will just postpone the bottom of the bear market in property and the bottom will be at a lower point than if rates correct sooner.

I very much doubt interest rates will ever be above 3% again in our life time.

sabretoothtigger

At one time they doubted house prices could fall. Rates will not stay below inflation

Dan: wrote: »

Not wages, or at least by much. So property value will be roughly the same in 10 years. (Im talking about 2008-2018)

If wages and houses stay the same for ten years. Its possible they can both fall in value.
A country can not determine alone the worth of items when it imports those items from abroad. Houses compared to items used like petrol or food will fall in value.

The UK represents 1% of the world population, its kinda ridiculous to say we will not be doing something without reference to the rest of the world

John_Pierpoint

http://www.nationalreview.com/articles/286877/long-long-depression-matthew-lynn

The Long Depression: The Slump of 2008 to 2031

RenovationMan

A slump from now until I have paid off this mortgage and moved to my retirement home, which I may build myself if rates stay low until 2031.

I can see it now. Single storey with passiv hous insulation, heat recovery ventilation, solar water heating, rainwater & grey water recovery, solar PV and large south facing triple glazed windows. Lovely.

sabretoothtigger

Ch4 featured a house which produced energy. It had alot of glass and they said it was so air tight that it was using heat energy to create enough electricity to sell back to the grid.

Not quite sure how that works

quick google
http://www.channel4.com/programmes/grand-designs/
this was it i think http://www.kentonline.co.uk/kentonline/newsarchive.aspx?articleid=57474
http://www.lowenergyhouse.com/low-energy-architecture-rh.html

Thrugelmir

Dan: wrote: »

I very much doubt interest rates will ever be above 3% again in our life time.

I never expected to see base rate reach 0.5% in my lifetime.

So nothing should come as a surprise.

Particularly if the UK struggles to rein the budget deficit.

Markets turn very quickly.

James_N

Thrugelmir wrote: »

I never expected to see base rate reach 0.5% in my lifetime.

So nothing should come as a surprise.

Particularly if the UK struggles to rein the budget deficit.

Markets turn very quickly.

I will never forget Black Wednesday, when rates increased to 15% in ONE DAY. That made me keep a hedge against interest rate movements from then onwards.

John_Pierpoint

sabretoothtigger wrote: »

Ch4 featured a house which produced energy. It had a lot of glass and they said it was so air tight that it was using heat energy to create enough electricity to sell back to the grid.

Not quite sure how that works

It would appear to have Photo Voltaic (PV) panels on the roof, generating more electricity in the day time than the house needs.

https://forums.moneysavingexpert.com/discussion/2955406

I remember watching that programme, the costs were eye watering, not many of the rest of us 60,000,000 could begin to afford them. The arch was particularly clever, using a sort of plywood technique, but made of layers of tiles, mortared together.
An achievement that defeated Christopher Wren when he was building St Pauls.

Though this city appears to have mastered the technique.
Filippo Brunelleschi started in 1420 with the construction of the CUPOLA. The diameter of the inner span (m. 41.50) is close to the maximum limit for any kind of masonry dome. Instead of re-using usual methods, Brunelleschi invented a technique based on his knowledge of the Roman's "way of building," which he put at the service of a new concept and new kinds of technical, cultural, aesthetic problems, involved in the realization of the cupola. Basically, the construction of the dome depended on the use of a building technique capable of avoiding any dangerous discontinuity in the 27,000 tons of masonry. The cupola was thus built as a self supporting growing form. The dome is surprisingly modern: in this double shell, the lighter exterior cupola protects the inner cupola from the elements, while the two work together thanks to the powerful connecting ribs. Completed in 1436, the Cupola is the most characteristic feature of the Florentine skyline,