The 70% club

Dan:_4

ad9898 wrote: »

The problem is Steve, you, mitchaa and Dan may well be in like a shot, you may also have loads of cash, if you have, good luck to you, however the housing bubble as been propped up by thousands of people who thought they were like you.

Unfortunately unlike the years gone past, the likes of yourself will become a tiny minority, who will make a lot of money but will be ineffectual in lifting the market.

You should be rejoicing the current crash in prices

This is what I don't get about this forum.

If you read my post history I have said I expect house prices to fall about 25% by the end of 2009, and then a slow recovery until about 2015-16 when we will be back at 2007 levels.

I will be looking to trade up around this time (maybe 2014) so it is all good stuff for me, i.e. smaller mortgage.

I have never MEWed, I have never had more debt I can comfortably pay back, I have never been happy about my house rising to a silly level.

What makes me laugh is some of the ridiculous predictions and statements that are banded about this forum, and all thanked by the usual suspects.

besonders1

Dan: wrote: »

Houses are now almost affordable to the average FTB, couple that with low interest rates, buyers will soon be flocking into the market to pick up a bargain.

Affordable ooooh really - i don't think so, (unless of course we all win the lottery and then we won't need a mortgage)

Dan:_4

besonders1 wrote: »

Affordable ooooh really - i don't think so, (unless of course we all win the lottery and then we won't need a mortgage)

Look for a decent job then, or a wife/husband/partner and get a joint mortgage.

StevieJ

besonders1 wrote: »

Affordable ooooh really - i don't think so, (unless of course we all win the lottery and then we won't need a mortgage)

Strange they were affordable last year 15% higher with increasing rates (remember the quotes 'mmm the wont be laughing when they come off their two year fixes and mortgage rates have gone through the roof')

ad9898_3

Dan: wrote: »

This is what I don't get about this forum.

If you read my post history I have said I expect house prices to fall about 25% by the end of 2009, and then a slow recovery until about 2015-16 when we will be back at 2007 levels.

I will be looking to trade up around this time (maybe 2014) so it is all good stuff for me, i.e. smaller mortgage.

I have never MEWed, I have never had more debt I can comfortably pay back, I have never been happy about my house rising to a silly level.

What makes me laugh is some of the ridiculous predictions and statements that are banded about this forum, and all thanked by the usual suspects.

I apologise Dan, I shouldn't have included you, you're not really a 'bull', perhaps more a half bull/half bear:D

Dan:_4

StevieJ wrote: »

Strange they were affordable last year 15% higher with increasing rates (remember the quotes 'mmm the wont be laughing when they come off their two year fixes and mortgage rates have gone through the roof')

ha ha...now they can't wait for them to end!

dopester

Gorgeous_George wrote: »

I agree that lower house prices should be a good thing. Sadly it is coming too late.

Every 1% brings more misery to fellow human beings. More suicides, more divorce, more murder. How that can be described as a good thing is beyond me.

I'm still in the 40% camp.

GG

Were you complaining on the way up?

Were you appreciating the difficulties of FTBS forever stretching themselves further and further for borrowing and debt from 1998 onwards to get their first property?

Honestly, considering you have at least one BTL, or a second home that you let out in your capacity as a landlord, that your sympathies are not that genuine or balanced.

purch

"So if Professor Kelly's 70% figure is accurate, where would that leave UK house prices? The last downturn in the housing market ended in July 1995, when average prices according to the Halifax were £61,000. That gain, trough to peak over 12 years, is £139,000. So if this is a typical bubble, the fall would be 70% of that, £97,000, taking the price of the average house at the low to just £103,000"

Is the attention span of most members of this forum so short, that they find it impossible to actually read the story referred to.

Where is £ 64,000 coming from ????

Dan:_4

ad9898 wrote: »

I apologise Dan, I shouldn't have included you, you're not really a 'bull', perhaps more a half bull/half bear:D

Thanks!

If I ever come across as being a bit too bullish, it's because i'm getting a thrill from winding up !!!!!!?

dopester

purch wrote: »

Where is £ 64,000 coming from ????

Are you asking the £64,000 question?