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Debate House Prices
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Property asking prices - people are STILL holding out
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why will they be more stubborn beacuse of the interest rates?0
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because a lot of my friends seem to think it will stabilise the housing market. They think house prices will now start going up. If these are representative of the "general public" then I've inferred that sellers won't think they have to reduce.
Note: I disagree with them by the way0 -
I still think they're all overpriced. And now with this interest cuts, the sellers will be more stubborn
A lot of people will think that. Remember August 2005 when prices fell so they cut interest rates and prices rose fast after.
However that was then and things are different. Now the banks simply don't have the money to lend.
Thats why I think it will take till Feb 2009 to work out its all gone Pete Tong.
50% falls widespread by Christmas 2009.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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The Bottom line is House prices are TANKING ...end of !!.. A seller can "Hold out" as long as they want, it simply means they wont sell there house, some on here still live in this fantasy that the lending levels that drove the market so high will return in the not too distant future...They seem to forget that Banks were going bust on an almost weekly basis just a few weeks ago because of this Crazy lending ..unbelievable ..0
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A lot of people will think that. Remember August 2005 when prices fell so they cut interest rates and prices rose fast after.
However that was then and things are different. Now the banks simply don't have the money to lend.
Thats why I think it will take till Feb 2009 to work out its all gone Pete Tong.
50% falls widespread by Christmas 2009.
Agree with that. I think that the interest rate cut will convince many that want to be convinced that it's all "fixed", then it'll be "well it takes a while to filter through to results" then it'll be "well nothing much sells around Christmas and New Year" then finally in the Spring people will start to see that rate cuts haven't fixed it, Christmas wasn't to blame, stuff just aint getting the silly numbers anymore.
We have to bear in mind, there's a huge British psyche that see's starter homes at £150K as "normal", and much under that as "abnormal". It'll take a while for people to understand that actually, it's the other way around.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
I. I fear this is echoed right across the country and i dread to think what is going to happen over the next few months. A buying frenzy?! :eek:
No....A going to the bank for a mortgage and being told NO frenzy....Banks are not going to lend to just anybody at really low interest rates...why would they take the risk for such a low return.
The only people who will be able to buy are people with large deposits and a squeaky clean credit score, this will keep tens of thousands out of the market.
A xDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
I was speaking to a friend yesterday and they said now interest rates have dropped now is the time to buy. I argued my case that there is possibly 12 months until i would like to buy and his response was house prices are not going to get much cheaper. Later on i had the same conversation with another friend and his comments were identical. I fear this is echoed right across the country and i dread to think what is going to happen over the next few months. A buying frenzy?! :eek:
Whatever they think, whatever they believe - they still need the MONEY to do anything, which usually puts most people at the mercy of what the banks will lend them or what they can raise themselves.
Their beliefs will be changed by the sheer weight of reality shattering this paradigm.0 -
chrisandanne wrote: »No....A going to the bank for a mortgage and being told NO frenzy....Banks are not going to lend to just anybody at really low interest rates...why would they take the risk for such a low return.
The only people who will be able to buy are people with large deposits and a squeaky clean credit score, this will keep tens of thousands out of the market.
A x
That'll be us then...and we're holding out as we think prices have got further to go.0 -
I third that0
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