50% drops by 2011

baby_boomer

Why should I be disappointed one way or another? I own one property, my home, so it makes little difference to me.

Where did I say that it's happening across the UK? Please don't make assumptions or put words into my mouth.

chucky

baby_boomer wrote: »

Why should I be disappointed one way or another? I own one property, my home, so it makes little difference to me.

Where did I say that it's happening across the UK? Please don't make assumptions or put words into my mouth.

my reply of the 50% number was in response to a previous post that YOU replied to regarding 50% drops.

the disappointment comment was in response to your mention of my disappointment which I wasn't.

if you feel the need to respond please send me a PM that way this this thread will not go off topic.

baby_boomer

chucky wrote: »

the disappointment comment was in response to your mention of my disappointment which I wasn't.

No need for a dreary exchange by PM. You just misread / misunderstood my post and so added some extraneous and personal material to the thread which we could have all done without.

baby_boomer wrote: »

Mr Conroy said: "It's like being hit in the stomach. It's the biggest drop I've heard of, and I scan all the property news. A £95,000 drop - that's 50%...."

## - Sorry to disappoint you mate, it's more like 54%+ :eek:

"mate" and "disappointment" referred to Mr. Conroy, not you.

chucky

baby_boomer wrote: »

No need for a dreary exchange by PM. You just misread / misunderstood my post and so added some extraneous and personal material to the thread which we could have all done without.

"mate" and "disappointment" referred to Mr. Conroy, not you.

yes i did - apologies for the confusion.

crazygaijin

Just seen the vid. He has got a point.

Whats the thoughts of everyone now? How long before 50% down in price.

Having just read the previous posts there seems to be 2 camps.

The house owners who say they will never be down that much this time, and the renters who want to buy, saying it will be quicker than 2011.

I know they have a long way to drop yet and I think eventually they will be down 50% from the top. But when is hard to say, I would go with 2011 the way things are. Sooner if banks keep going under the way they are.

Yoshua

crazygaijin wrote: »

Just seen the vid. He has got a point.

Whats the thoughts of everyone now? How long before 50% down in price.

Having just read the previous posts there seems to be 2 camps.

The house owners who say they will never be down that much this time, and the renters who want to buy, saying it will be quicker than 2011.

I know they have a long way to drop yet and I think eventually they will be down 50% from the top. But when is hard to say, I would go with 2011 the way things are. Sooner if banks keep going under the way they are.

Yes and if prices are 50% lower then the desperate ones will sell even lower.

But there is no hurry to buy they will stay down a long time.


Just imagine you were a bank say someone wanted to borrow 100K to buy a house and they had another 100K deposit. Would you lend them that much considering you know the security the house is going to be worth half that in a few years?

The last few years banks have been saying yes and that what has got us into this mess.

moanymoany

If the economy goes belly up for a sustained period - and given what we hear about the world economies it seems very likely - then the falls may well slowly drop to 50%. If that is every house in every area is unlikely, but there will still be a big drop.

There is hope being engendered out there because of the Governments spend, spend, spend policies that are being touted. Common sense dictates that this must be accompanied by cuts to make the money available to pay back the loan.

It's all looking grim. Many of us are going to have to make changes in our lives that will be far reaching as the next few years roll by. Already the news says domestic spending down 4% - and this is the start.

IveSeenTheLight

moanymoany wrote: »

There is hope being engendered out there because of the Governments spend, spend, spend policies that are being touted. Common sense dictates that this must be accompanied by cuts to make the money available to pay back the loan.

That is of course one way to recoup the money, but didn't the gov't ake a load of shares from the banks they bailed out, when the share prices plummeted.

Wouldn't this mean that when the economy turns and the share prices rise, that the gov't could then be in a position to sell the shares for a higher price than they paid for them?

Of course, you do still have to service that debt in the meantime

novazombie

the financial crisis formerly known as the credit crunch will make mortgages more expensive.

I cant see any one actually getting a long term fixed rate mortgage under 5%.
There is usually a catch in there somewhere that means the bank always wins in the end.

The trouble the banks are all in now, they need to be charging asmuch as possible.

Whats the best rate now? 6%

IveSeenTheLight

dopester wrote: »

Thread bookmarked to comply with future notification of £72,447 reached (or thereabouts).

I enjoy your posts Mitchaa and ISTL, and the follow-on counter responses and discussion. We shall see who proves right.

I wasn't expecting this and it seems a bit strange, but Aberdeenshire is reported to have increased by 5.4% (£197,353) in the second quarter according to BBC

The figures are taken from the Registers of Scotland Executive Agency between April and June 2008