50% drops by 2011

GDB2222

andys15 wrote: »

i agree
same with all things in life, a small percentage lose, a small percentage win, and then there are the rest of us

Actually, you weren't supposed to agree with me. I was extracting the p1ss. :-)

howler_2

mr.broderick wrote: »

Do i detect bitterness?

Nope - I haven't got a mortgage :j

wolfman

Maisie11 wrote: »

I fear this current financial climate has turned a number of people into financial experts. Who knows the future? If people really know what is going to happen they would not be on this website answering posts - they would have brought when the market bottomed out last time and of course sold at the height of the market but anyone who has this sort of knowledge would be on their yacht in the Med not telling everyone one day they will buy, one day, one day.......

I don't see many people claiming to be experts. It's a forum, people give there opinions, and discuss them with others. We don't just listen to the spin in the media, we're actually intelligent enough to discuss the matter.

Of course no one knows the future. Not even the guys at the top. All we can do is make an accurate as possible guess as to what will happen.

And no most of us wouldn't have bought last time the market bottomed out. In my case I would have been 9, although if it were 2007's lending standards back then I probably could have got myself a 100% mortgage.

House prices will continue to fall. Banks won't be giving 100% mortgages any time soon. I'm happy to wait and continue renting. If the average house is dropping 1-2k a month, and I'm saving 1k, then I'm 3k better off each month. All I have to do is pay a bit of rent.

My guess is that house prices will drop another 20%, although obviously some areas will be effected worse than others. I'm simply going to wait until I can afford to buy in my area. And if I can't then I'll look elsewhere or think about moving abroad.

lynzpower

We have been looking ( not viewing!) for a at least 2 bed split level maisionette with garden in inner london ( ex local). When I sold my overpriced plasterboard palace they were marketed around 275 and going under offer as soon as they came on- in 2006.

I now see one has come on priced at 180k, Id expect to get at least 10k off that for the no chain large deposit only proceedable buyer on the face of the earth etc - wouldnt you?

thing is now, Im gonna wait, as I might as well wait on for a 3 bed. Wouldnt you?

andys15

GDB2222 wrote: »

Actually, you weren't supposed to agree with me. I was extracting the p1ss. :-)

oh you was, well it was lost on me.

neverdespairgirl

Maisie11 wrote: »

Also we have had a wonderful family house and had two children and two dogs without having to ask anyone's permission.

Sorry, just brought to mind the idea of writing to your LL requesting permission to have <cough> marital relations....

GDB2222

andys15 wrote: »

oh you was, well it was lost on me.

Not to worry. I was drunk. Hic

dopester

howler wrote: »

Do I detect a heavily mortgaged property 'owner'?

A seller in uncrashable Gerrard's Cross IIRC.

I thought I'd identified the house as well (maybe), but at £1,250,000 it has recently gone from available to not listed.

On the upside... it seems asking prices in Gerrard's Cross are beginning to take a kicking.

loofer

Kong wrote: »

Interesting video and all that but don’t forget Jonathan Davis the ‘expert’ in the video has been banging on about house prices crashing for years and he thought he would be clever and make a quick buck by selling his house to rent (STR) back in 2002 and then buying back after the crash. Well that back fired didn’t it - not taking any advice from you thanks mate!! He and his chums at Capital Economics were talking about a 30% crash from 2002 levels http://news.bbc.co.uk/1/hi/business/2577069.stm .

I am sure that prices will continue to fall but by 50%? Not from where I am standing but I am not an ‘expert’ so what do I know.

On a bit of a tangent... I followed the above bbc link and also had a wonder onto the top stories at that time.

Tuesday, 18 February, 2003
- with possibility of the invasion into Iraq.. the price of US crude oil is pushed upto a 'whopping' $36.96 a barrell.

- UK inflation steady at 2.7%

The good days!

neverdespairgirl

andys15 wrote: »

so how many homes have you bought and sold.

In our case, we've bought precisely none, and sold 1/2 a family house in Oxon, half a flat in Butler's Wharf, 1/4 of a rent-controlled secure tenancy house in N London.