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Debate House Prices
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Why house prices are headed down still
Comments
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Hmmm ... sounds like just another variation on the well worn "You want prices to go down because you are bitter and priced out" line. :rolleyes:
No not at all.
I meant it in the way I wrote it in that I believe the majority of people who did not buy property (and wished to do so) wouldn't have held back because they had forsight but because they couldn't afford to.
Dont twist it !!!!!!?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Austin_Allegro wrote: »I think you'll find that most people in the UK couldn't afford to buy into property in the last few years.
Many, however, convinced themselves that they could by buying into the hype and sales tactics of moneylenders and other assorted VIs, thinking they were 'buying' something when all they were doing was taking on unsustainable amounts of debt. It's the realisation of this problem by the banks that is causing a lot of the current economic problems.
I don't think I had 'fantastic foresight' but I was able to work out that something was wrong when I couldn't buy even a derelict council 1-bed hovel despite earning an above average salary and having several thousand pounds in savings; which was what led me to sites like HPC.
I'm not getting into a debate on whether house prices are affordable or not in my post.
I fully agree some areas are vastly over priced, while others are not so.
I'm mearly saying that the majority of people who didn't wouldn't have done so because they had foresight of it.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
your timing was terrible, you should have bought in 1999 and then sold in 2006.
that's what i would say is being ahead of the curve...
can't speak for !!!!!!, but in 1999 I was 21 and still at university....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
And what exactly constitutes a 'doom monger' then?
House prices are spectacularly over-valued everywhere in the UK. Everywhere.
The cheap-credit torrents of easy money that fuelled the bubble is over, not to return for generations. And now we've got also got an imploding economy. There is nothing to prop up house prices now.
At least the BoE has now learnt the likely consequences of allowing one of the biggest house price bubbles ever, and what is to follow over the next few years. Let the education of every ISTL in the UK begin.Tim Besley, the Monetary Policy Committee member who surprised economists and markets by voting for higher borrowing costs only three months ago, acknowledged that the falls in food and energy prices had reduced the risks posed by inflation.
He also admitted that the Bank had "learnt major lessons" about house prices, and hinted that it may need to target asset prices more rigorously in the future to prevent further booms.
http://www.telegraph.co.uk/finance/financetopics/recession/3275394/Inflation-no-longer-a-major-threat-admits-Besley.html0 -
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neverdespairgirl wrote: »can't speak for !!!!!!, but in 1999 I was 21 and still at university.
i was 23 in 1999 when i first bought into property - probably bought every year since then.
across the portfolio, now have about 25% LTV across what i still own0 -
House prices are spectacularly over-valued everywhere in the UK. Everywhere.
The cheap-credit torrents of easy money that fuelled the bubble is over, not to return for generations. And now we've got also got an imploding economy. There is nothing to prop up house prices now.
At least the BoE has now learnt the likely consequences of allowing one of the biggest house price bubbles ever, and what is to follow over the next few years. Let the education of every ISTL in the UK begin.
http://www.telegraph.co.uk/finance/financetopics/recession/3275394/Inflation-no-longer-a-major-threat-admits-Besley.html
maybe spectacularly over-valued to you Dopester but to some people they are not. there are many opportunities out there to get onto the housing ladder for whatever reason - family home, FTB or even BTL. you just have to find them, if you don't you'll be like a couple of the usual posters here that missed out pre-bubble and are persistently bitter. i'm not calling the bottom now but i would never put my life on hold waiting to make that decision to buy. buying a property is one thing buying a property well is where you want to be.
when you say that credit will not be around for generations - your pushing it out way, way too far. the same was said in the 1990s but the banks found other ways to create credit. it will just be a matter of time before it all starts again. the banks are there to make money and they do this by lending; there not going to be sitting around not making money for too long before they find a way to raise equity to create credit and put it on the market again... it may be wrong but that's the way it is - you like to preach another story, i'm just realistic...0 -
i was 23 in 1999 when i first bought into property - probably bought every year since then.
At 23, I was still in full-time education - I wasn't fully qualified until I was 25....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »At 23, I was still in full-time education - I wasn't fully qualified until I was 25.
At 23 I had been working full time for 8 years and gained my qualifications from the OU.
Where is this going?
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Pointing out that not buying in the 1990s doesn't make you a fool....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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