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Debate House Prices


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The 70% club

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Comments

  • geoffky
    geoffky Posts: 6,835 Forumite
    I have a feeling that people are starting to realize that the market is still historically in a terrible state and it looks like the next leg down will be quite a few big falls between now and next may..

    houses just are not selling in my area and i mean 20 houses have sold since jan out of 894 up for sale.. maybe London and down south sentiment is different but here in Cheshire the employment prospects are looking shaky and people are feeling a little unsecure..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • penguine
    penguine Posts: 1,101 Forumite
    Part of the Furniture Combo Breaker
    geoffky wrote: »
    I have a feeling that people are starting to realize that the market is still historically in a terrible state and it looks like the next leg down will be quite a few big falls between now and next may..

    Why May in particular?
  • geoffky
    geoffky Posts: 6,835 Forumite
    penguine wrote: »
    Why May in particular?

    Because the sun makes people act like fools..:rotfl:
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • novazombie
    novazombie Posts: 327 Forumite
    geoffky wrote: »
    Because the sun makes people act like fools..:rotfl:



    Also the Government will try hard to hold prices up until the next election then they can let house price fall to long term average.
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    45% from peak average I reckon, worst case.
  • Nylontokyo
    Nylontokyo Posts: 50 Forumite
    mbga9pgf wrote: »
    45% from peak average I reckon, worst case.



    Yes I agree alomst half down from the top. This really would be a crash rather than a fall.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    macaque wrote: »
    http://money.uk.msn.com/investing/articles/nicklouth/article.aspx?cp-documentid=10924988

    A year ago I suggested that a house price correction in the region of 70% might be on the cards. People's reaction to this was ridicule and contempt. With each passing month however, more and more people have been joining the 70% club.

    Whilst this is not particularly welcome for home owners, (and a catastrophy for heavily leveraged BTLs) it is good news for the country. High house prices have been socially divisive and damaged the long term stability of our economy.

    How is the monkeys prediction coming along icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    StevieJ wrote: »
    Down 20% by April, 70% I will be in like a shot.

    Much more like it :beer:
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    edited 23 November 2009 at 1:42PM
    thanks for bringing back the thread Stevie - there some comical predictions on here that were made not too long ago
    geoffky wrote: »
    I have a feeling that people are starting to realize that the market is still historically in a terrible state and it looks like the next leg down will be quite a few big falls between now and next may..
    not long to go to see those big falls Geoffrey!! :think:
    Pobby wrote: »
    I do expect that 50% could well happen.Btw, that`s not where I live where house prices can only go up!
    maybe in the next HPC Pobs... probably not in this one though :cool:
    Nylontokyo wrote: »
    I never agreed with 70% falls, but maybe 50% from top to bottom we are about halfway there now.
    and another one... _party_
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Would you like a tissue chucky?
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