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

john539

mitchaa wrote: »

Really

Is every house in the UK therefore at 2004 levels an should be priced accordingly to what the Halifax tell us?

Yes, that's why the Halifax/Nationwide data is quoted so often.

You can of course waste your time confirming what they are already saying.

MrDT

john539 wrote: »

Where's that then ?

recovering = rediscovering sanity

john539

Prices still going down, will it ever stop.

House prices 'fell 15.9% in 2008'

Generali

john539 wrote: »

Prices still going down, will it ever stop.

House prices 'fell 15.9% in 2008'

Well in theory house prices can fall forever. In practice I suspect they'll stop falling at some point.

carolt

Generali wrote: »

Well in theory house prices can fall forever. In practice I suspect they'll stop falling at some point.

What happens when they hit zero?

Or do they pay you to take their houses off them?

Generali

carolt wrote: »

What happens when they hit zero?

Or do they pay you to take their houses off them?

They never hit zero.

Let's say an 'average house' is worth $200,000. After 3 years it halves in value to $100,000. After another 3 years it halves in value again to $50,000 and so on until it hits $0.01. If we can get the Government to issue a $0.0025 coin it can halve again and again.

A bit cryptic but it works!

besonders1

Prices can fall untill someone buys them. They main reason why they are falling is because buyers can't get the money to purchase them, otherwise why hadn't they been at 2007 prices 10 years earlier?

besonders1

Once they hit zero, the sellers will be paying buyers to take over their mortgage

Gwhiz

besonders1 wrote: »

Prices can fall untill someone buys them. They main reason why they are falling is because buyers can't get the money to purchase them, otherwise why hadn't they been at 2007 prices 10 years earlier?

And also because there is a belief they will continue to fall. We need confidence to return before there is any chance of recovery.

Oblivion

Gwhiz wrote: »

And also because there is a belief they will continue to fall. We need confidence to return before there is any chance of recovery.

If there is to be any common sense restored to the housing market, values should fall to the real cost of rebuilding the property in question to the same standard at today's building costs.

Dave.