The 70% club

Nylontokyo

Just wondering if anyone in the 70% club has changed their opinion?

I never agreed with 70% falls, but maybe 50% from top to bottom we are about halfway there now.

Does anyone have any reasons why they still think 70% falls could still be on the cards?

mewbie_2

If we talk about the amount that people actually own in their homes then large numbers have lost more than 100%. 10% deposit (20k on 200k), less 25% drops for example (200k x 25%).

Or perhaps the 'profit' over the years. Where again potentially all the 'profit' has gone, or is going.

But no. We are talking about actual house prices. 50% (till end 2012) feels like a reasonable amount, actual values without taking into account inflation. Inflation at say 5% (who knows what the real figure is?) a year for four years works out at 20% + the 50% drop = 70%. Oh no. I'm in the 70% club, clearly a nutter.

crazygaijin

ad9898 wrote: »

the dead cat bounce is now seemingly running out of steam, and there are serious storm clouds on the horizon, you never know, the 70% club thread may have to make a return.;)

Not any time soon, but when IRs are back up

HappySad

House prices were said to be going up again. Is this still the case?

StevieJ

HappySad wrote: »

House prices were said to be going up again. Is this still the case?

I don't think anyone expects real increases in house prices, now stagnation that is a different matter.

setmefree2

Hey happysad just noticed your signature well done on all that weight loss :T

HappySad

setmefree2 wrote: »

Hey happysad just noticed your signature well done on all that weight loss :T

Thanks. i feel really proud of myself. It's hard work..:rolleyes:

sabretoothtigger

Very impressive, thats like taking off a very heavy backpack must feel good

House prices were said to be going up again. Is this still the case?

The trend is still down because year on year results are what matter with something so long term like a house. The rate of decline is slowing though. More results early next month, 3 in a row would mean more

I think its a bit like doing a three point turn in a supertanker, its going to take a while before they even know its reversing or not

skap7309

Really2 wrote: »

Where the hell did that saying come from I have never heard it before.

"Safe as houses" yes but never "it like saying the banks will go bust"

Ermmmm, it wasnt a saying Really2, it was the thoughts of a select few with regards to governments bailing them all out.

Fannie Mae & Freddy Mac? :rolleyes:

Also a well known properdee 'expert' once famously said - ''I’ll eat my hat if house prices drop''.....very similar to it'll never happen?!

Pobby

I`m not in the 70% club although I growl and are grizzly, however, I do expect that 50% could well happen.Btw, that`s not where I live where house prices can only go up!