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

mardatha

Everybody needs to stop running about like a load of bloody sheep baaaa-ing . Keep the head !! Organize a cusion of handy money and a cushion of stored food and get on with your lives !
That makes me feel like Basil Fawlty LOL

Dithering_Dad

It's always darkest before the dawn. On Friday when shares were falling through the floor, I decided that we had reached the bottom and so I piled the majority of my life's savings into the stock market at the close.

The market bounced on Monday by 8% in the UK and even more around the world. It's doing the same again today and although I know there will be further turmoil I seriously doubt we will go lower than we did on Friday when we had the 'perfect storm' financially.

I'm now starting to wonder when we'll see the bottom of the housing market. I seriously doubt we'll see the mad "average 50% drops" that some people are hoping for. Instead I think the bottom of the market will be 30% from peak, so if anyone can negotiate a price for more than 30% at the moment then I'd grab it. (but not 30% drops from new build, where builders have increased sale prices to off 'discounts').

Currently we have talk of armageddon, recessions, depressions, 50% crashes. Anyone selling a house will be feeling pretty depressed at the moment. Now is the time to negotiate for a bargain.

We're seeing a recovery in the financial markets, the government has dictated to the banks that they have to return to 1997 lending to bolster house prices, the Depression talk has ended and commentators are talking about a deep recession being averted.

As time moves on and people start feeling more confident, sellers are less likely to negotiate deep discounts on their properties.

If I were looking to buy a house, I would do it in the next 6 to 12 months - after this, we will start seeing a recovery and a return of confidence.

Don't follow the 'herd' mentality of thinking that house prices only fall. When things are the darkest and know one else is buying - THAT'S that time you should buy in order to get the best value for your hard earned money.

But don't take my word for it. Start reading the financial press - stop reading the baised opinions on this forum (including mine ). Invest some of your in researching your target house purchase area. Become an expert and see a real financial return on this investment of your time.

On Friday the doom mongers on here were talking about the financial markets dropping to zero, the end of civilisation and 1930's style depression. I took that as an indicator that the market bottom has been reached and to be honest I made a killing yesterday and will do again today.

Today they're talking about the record drops in house sales, house prices dropping to zero, etc. etc.......

Don't follow the herd mentality, don't be a 'sheeple', don't think that house prices 'always fall'. Make your own decisions, based on your own research in your own geographical areas.

Good Luck

hethmar

Thank gawd for a bit of optimism on here, I get so damn depressed reading the doomsters and gloaters - we need to keep that British stiff upper lip in these times

Chris2685

envelopes wrote: »

Food prices have hit silly heights recently, i was shocked to find a bar of soap that i usually pay 69p for has risen to 95p

You eat soap??

hehe.

But I agree, speculation does cause things to happen.

mr_magoo_5

Dithering_Dad wrote: »

It's always darkest before the dawn. On Friday when shares were falling through the floor, I decided that we had reached the bottom and so I piled the majority of my life's savings into the stock market at the close.

Are you totally irresponsible? I suspect you are a father, your partner and children look to you to support them. To say you put your families, life savings onto the stock market is shameful, gambling pure and simple. Are you desperate for cash? It appears you have savings, so no, I suggest your absolute greed has overcome your rational thoughts. Exactly the type of thinking that has got us into this mess.
My observation on this, we truly can’t expect to come out this greed induced feast unless people like you get burnt, big time. As you have savings I hope you made enough to blow on shiny things.
This is a house buying forum you really should be peddling your trade in the gamblers/stock forums. Or better still contact a Gambler helpline.

Chris2685

1sue23 wrote: »

I own my home mortgage free so why do I need to sell it and if property prices fall 50% so be it .If I had rented for the past 20 years the landlord would own the property not myself ,so have I done the wrong thing in your eyes in buying this house?,and would I not be paying the landlord until i died or after 25 years would he say thank you you have been such a good tenant please have the deeds to this house.?

That's all well and good, and if people can ride it out and pay off their mortgages each month in full then it is great. The trouble is that this crazy lending means people have bought (and are still buying) massively over-priced properties that they can't really afford. This is ok if they can scrape by and pay off the mortgage, but if something happens such as job loss (extremely possible in this climate i would say) or interest rates rise and you can't afford the repayments. Basically if anything happens which forces you to sell your house in a falling market, you will be in negative equity and in deep crap. At least in a rising market you had the possibility to sell it for more than you paid for it, in this market you have no chance of making that money back or selling quickly enough to make nearly that money back, because in order to sell quickly you have to have a very competitively priced house.

Dithering_Dad

mr_magoo wrote: »

Are you totally irresponsible? I suspect you are a father, your partner and children look to you to support them. To say you put your families, life savings onto the stock market is shameful, gambling pure and simple. Are you desperate for cash? It appears you have savings, so no, I suggest your absolute greed has overcome your rational thoughts. Exactly the type of thinking that has got us into this mess.
My observation on this, we truly can’t expect to come out this greed induced feast unless people like you get burnt, big time. As you have savings I hope you made enough to blow on shiny things.
This is a house buying forum you really should be peddling your trade in the gamblers/stock forums. Or better still contact a Gambler helpline.

What an odd post.

I said I put my life's savings on the stockmarket (i.e. my pension, that took 15 years of my working life to accrue). My emergency savings of 12 months worth of expenditure did not take long to accrue so do not count as 'life savings' nor did my children's university fund.

Some people are so risk adverse on this forum that even when a gift horse is looking them in the mouth they will turn away from it. One wonders if they will ever buy their own home.

Out of interest, do you have any retirement savings, and if so where have you invested them?

blisk

Housing collapse continues.
Mortgage lending down by 63% !!!!!!!!!

Flats 'see biggest price falls'

howler_2

Dithering_Dad wrote: »

It's always darkest before the dawn. On Friday when shares were falling through the floor, I decided that we had reached the bottom and so I piled the majority of my life's savings into the stock market at the close.

The market bounced on Monday by 8% in the UK and even more around the world. It's doing the same again today and although I know there will be further turmoil I seriously doubt we will go lower than we did on Friday when we had the 'perfect storm' financially.

I'm now starting to wonder when we'll see the bottom of the housing market. I seriously doubt we'll see the mad "average 50% drops" that some people are hoping for. Instead I think the bottom of the market will be 30% from peak, so if anyone can negotiate a price for more than 30% at the moment then I'd grab it. (but not 30% drops from new build, where builders have increased sale prices to off 'discounts').

Currently we have talk of armageddon, recessions, depressions, 50% crashes. Anyone selling a house will be feeling pretty depressed at the moment. Now is the time to negotiate for a bargain.

We're seeing a recovery in the financial markets, the government has dictated to the banks that they have to return to 1997 lending to bolster house prices, the Depression talk has ended and commentators are talking about a deep recession being averted.

As time moves on and people start feeling more confident, sellers are less likely to negotiate deep discounts on their properties.

If I were looking to buy a house, I would do it in the next 6 to 12 months - after this, we will start seeing a recovery and a return of confidence.

Don't follow the 'herd' mentality of thinking that house prices only fall. When things are the darkest and know one else is buying - THAT'S that time you should buy in order to get the best value for your hard earned money.

But don't take my word for it. Start reading the financial press - stop reading the baised opinions on this forum (including mine ). Invest some of your in researching your target house purchase area. Become an expert and see a real financial return on this investment of your time.

On Friday the doom mongers on here were talking about the financial markets dropping to zero, the end of civilisation and 1930's style depression. I took that as an indicator that the market bottom has been reached and to be honest I made a killing yesterday and will do again today.

Today they're talking about the record drops in house sales, house prices dropping to zero, etc. etc.......

Don't follow the herd mentality, don't be a 'sheeple', don't think that house prices 'always fall'. Make your own decisions, based on your own research in your own geographical areas.

Good Luck

Clever addition of the word 'average' here, now that your previous posts claiming that we wouldnt see any 50% drops have been shown to be incorrect :rolleyes:

1sue23

blisk wrote: »

Housing collapse continues.
Mortgage lending down by 63% !!!!!!!!!

Flats 'see biggest price falls'

You remind me of the nutty God man that wonders around my town with placards strapped to his back saying the End is here, apparently he has been doing this for 20 years or more .