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

hethmar

Cor, that would be high Oblivion - land has got a lot more expensive as have building materials.

Oblivion

hethmar wrote: »

Cor, that would be high Oblivion - land has got a lot more expensive as have building materials.

I accept that land designated for building has become more expensive since it is a finite resource which until recently was being chased by high demand from builders. Many of those same builders are now bankrupt ... less building ... less demand for land. The resulting falling price should reflect in the value of existing land already built on.

The same applies to building materials. There are stock piles of brick mountains just sitting there doing nothing because the building industry has all but collapsed in the recession. Watch prices of building materials start to tumble too.

Dave.

mewbie_2

Generali wrote: »

.. $200,000.. $100,000.. $50,000

Scuse me, but what's all this $ crap? We still use £ over here mate.

Oblivion

mewbie wrote: »

Scuse me, but what's all this $ crap? We still use £ over here mate.

Shirt buttons will be of more value soon, particularly for those who haven't yet lost their shirt :rolleyes:

Dave.

sabretoothtigger

Not everyone has a £ on their keyboard map

mewbie_2

sabretoothtigger wrote: »

Not everyone has a £ on their keyboard map

No, or the € either. But it is moments to go and get one. I don't have a tumbleweed smiley either but hey presto..



Normally I read each of Generali's post avidly, and have printed some of the best ones and posted them on my bedroom door. But it's a problem if I don't know whether he means $ because he's talking dollars, or simply doesn't have the £ symbol.

Maybe he could use GBP instead?

sabretoothtigger

€


I dont have a euro so I stole yours copy and paste, I have no need for yucky euro symbols and hope I never will

If its a foreign pc it has to remapped to show british characters I think, for some reason it took me like 2 years to figure out how to do it for mine and I live in the uk nevermind our less chilly forum members


The geeky alternative is to know the unique ascii code for each symbol available then you can write in russian if you like
Press down Alt then three numbers on your numeric pad, release ALT and you should get some symbol or other




Äx║jÄý◘├

whathavewedone

I dont get this rebuilding cost business for every single property. Yes okay if you have a house that's been built after 1930 I can see it. How can you value a house with beautiful architecture at it's rebuild cost though? Surely whatever market you are in a house is worth what someone is prepared to pay for it?

I wouldn't have paid what we paid for our Victorian house for a house the exact same size on the exact same plot that was newly built because I didn't want a new house. I still wouldn't.

That's not to say that I think that period properties haven't gone down in value and won't continue to - of course they have and will continue to do so. However, whatever the market is doing some people will only want a particular type of property and won't be prepared to compromise.

Surely this is why new builds have fallen further in value than other properties and are unmortgageable in some cases?

Unless I'm missing something the logic seems to be that all any property is worth is it's location and plot size? I just don't agree with that.

subarusty

Oblivion wrote: »

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.

Maybe I'm reading into this too much but I think house prices do need to fall a considerable way but I'm not so sure about falling to the cost of rebuilding. I don't expect my shoes to be sold at cost price so I don't expect houses to be either.

There needs to be some incentive for developers doesn't there and I'm willing to pay a premium for the fact the house is already built. As soon as the premium for built houses become too much incurred I start to reconsider self build projects. At present I do feel the cost of land with planning permission to be extortionate though

sabretoothtigger

They wont fall below 2002 prices imo because of the high underlying demand and readjustment that will happen by then.

Time itself is a means for correction in price so long as deflation is kept as theory. The price will bottom out and stagnate but actually its still getting cheaper because of inflation

Selling at cost price would require a doomsday situation