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When will houses crash 50% ?

friar · 2008-10-11 20:57:14

With all this IMF meltdown woe,and stocks down 20% for now,when will property in the better areas come down? In my City Canterbury, it's seen as a hot spot with 5% drops in last 12 months.(I think its more in reality,say 10/15%) I just dont believe it can hang on,but it is for now. What are your views???:confused:

Comments

Zammo Posts: 724 Forumite

12 October 2008 at 4:59PM

mystic_trev wrote: »

Isn't that what Bruno said to the bloke with a Golfing umbrella :rotfl:

From what I could see it was a direct hit. :eek:

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Gorgeous_George Posts: 7,964 Forumite

12 October 2008 at 5:06PM

As prices fall, less people will want to sell. But, those who NEED to sell will find they will realise massive losses.

My guess is that the forced sellers are more likely to come from the poorer areas. Reason being, those in nicer areas will be more determined to hold onto their homes knowing that the alternative might be a bit grim.

So, not long now before the we read stories of repossessed homes being stripped of anything of value (copper pipes, hot water tanks, copper wire, windows, in fact anything eBayable).

GG

There are 10 types of people in this world. Those who understand binary and those that don't.
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Brian_Bullocks Posts: 297 Forumite

12 October 2008 at 8:28PM

!!!!!!? wrote: »

Not a dig: I understand you work in the motor trade. Do you honestly expect that your income is secure? It's going to be one of the hardest hit parts of the economy after things that are directly related to building and selling houses.

Yep, VERY true. Went to Motorpoint Derby today (to look for a newish car). Last time i went on a Sunday, took me 50-60 minutes to find a sales person free to help me...today there were at least 15 sales people walking around talking to each other. Only 20 or so customers browsing. I didn't find what i was looking for

I used to have a signature but it disappeared and I just couldn't be bothered writing another, so please feel free to ignore this.
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Brian_Bullocks Posts: 297 Forumite

12 October 2008 at 8:31PM

Gorgeous_George wrote: »

So, not long now before the we read stories of repossessed homes being stripped of anything of value (copper pipes, hot water tanks, copper wire, windows, in fact anything eBayable).

GG

It's already happening, they love the copper pipes & gas boilers :rolleyes:

I used to have a signature but it disappeared and I just couldn't be bothered writing another, so please feel free to ignore this.
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GDB2222 Posts: 26,936 Forumite

12 October 2008 at 8:48PM

Brian_Bullocks wrote: »

Yep, VERY true. Went to Motorpoint Derby today (to look for a newish car). Last time i went on a Sunday, took me 50-60 minutes to find a sales person free to help me...today there were at least 15 sales people walking around talking to each other. Only 20 or so customers browsing. I didn't find what i was looking for

My local tesco mini-store was empty this afternoon, althought that may just be because it was a simply fabulous day today for October.

I was in Brent Cross Tuesday evening, and it was pretty empty - maybe half the people who were there this time last year.

No reliance should be placed on the above! Absolutely none, do you hear?
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hethmar Posts: 10,678 Forumite

12 October 2008 at 8:55PM

Well, you couldnt move in Norwich shopping malls and the traffic was queued up trying to get into car parks and yes, people were carrying bags.

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baby_boomer Posts: 3,883 Forumite

12 October 2008 at 8:58PM

Old religions die hard.

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mr.broderick Posts: 3,778 Forumite

12 October 2008 at 10:38PM

!!!!!!? wrote: »

Not a dig: I understand you work in the motor trade. Do you honestly expect that your income is secure? It's going to be one of the hardest hit parts of the economy after things that are directly related to building and selling houses.

Nice to see i am still off ignore !!!!!!.
We are booming on used car sales, new down a bit. I don't like selling new cars anyway. People will always buy cars sir and i will be there to sell them.;)

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mr.broderick Posts: 3,778 Forumite

12 October 2008 at 10:42PM

Brian_Bullocks wrote: »

Yep, VERY true. Went to Motorpoint Derby today (to look for a newish car). Last time i went on a Sunday, took me 50-60 minutes to find a sales person free to help me...today there were at least 15 sales people walking around talking to each other. Only 20 or so customers browsing. I didn't find what i was looking for

Well it is official, motorpoint have a quiet sunday..we are defo in recession..
Maybe the customers are at main dealers buying uk pre reg'd cars instead of imports...Some nice savings to be had at main dealers at the moment, in fact now is a good time to change the car. Pm me Brian if you want me to try and locate a car for you. Mr.B.

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dopester Posts: 4,890 Forumite

23 October 2008 at 1:44PM

Seriously Brodders.... I hope you can tough this out cause it doesn't seem to be good news. Isn't this your place?

Nissan Sunderland announced today that they are closing for 2 weeks to see if they can stave off over producing.

When asked about Redundancies they said that as they employed a large number on short term contracts that wouldn't be a problem. :huh:

So no redundancies but still pay offs. Whats the difference apart from not having to pay severance or redundancy payments? It's still going to be job losses :rolleyes:

http://www.trucknetuk.com/phpBB2/viewtopic.php?t=35997

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