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Debate House Prices
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The 70% club
Comments
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You are correct, less debt burden, less interest payments to the bank, more disposable income, afford a much bigger house for your given budget etc etc
I agree, low house prices are advantageous for the majorities, myself included, i would trade upto 5/6bed detached
But im not deluded into thinking things are just going to suddenly get a whole lot easier where i may find myself with multiple homes.
Ive already gave my predictions of £145k nationwide average and i stand by that.
If houses drop down to average £54k from its peak of £180k (-70%), i will eat my hat
What about that bum in Burtons window? :rotfl:'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 Thatcher0 -
You mean it might only be 15%?
:rotfl: Nah, the 20% was my cautious thinking before this all started.We made it! All three boys have graduated, it's been hard work but it shows there is a possibility of a chance of normal (ish) life after a diagnosis (or two) of ASD. It's not been the easiest route but I am so glad I ignored everything and everyone and did my own therapies with them.
Eldests' EDS diagnosis 4.5.10, mine 13.1.11 eekk - now having fun and games as a wheelchair user.0 -
As far as I'm aware NDG hasn't really stated her projections for how deep the crash will be - other than she is not yet ready to buy.
I think perhaps, maybe, she thanks some of the more bearish crash posts as being somewhat more grounded in the right direction - although that may not mean she always agrees with the extent of the crash projections made...
...but perhaps more realistic than some of the optimistic "15% crash maximum*", or "gentle slowdown", or "green-shoots - recovery coming" posts of others.
*As was ISTL's forecast back at the start of May.
Alternatively I could be entirely wrong - although I occasionally thank posts if I disagree, but if thoughts and explanations are well put across.
For once i do agree with you, she does like to use the thanks button. I should not neccessarily assume that it's because she is in 100% agreement of what is in the post.0 -
OK a few weeks ago i would disagree with 70% falls but the following may just put it all into perspective by the great Merryn Somerset Webb. It goes on about how Japan struggled with a complete block on lending, low rates and previously rampant HPI. BTW house prices dropped 90%. Now....where have those ingredients been mirrored?
...regardless of what base rates are, if the banks don’t fancy lending they won’t lend – at any price. I was reminiscing with a colleague from my stock-broking days about how when we first arrived in Japan and found interest rates below 1 per cent, we couldn’t understand why everyone didn’t buy houses. Only later did we see that cheap mortgages were only available to a few risk-free customers – middle-aged men of a certain status and income level. Everyone else was excluded from the market: if they wanted to borrow money, they had to do so via the consumer finance companies at 20 per cent-plus.
The longer this credit cruch lasts it seems to get worse and worse. While 70% is a optimistic figure it certainly is not laughable anymore.0 -
OK a few weeks ago i would disagree with 70% falls but the following may just put it all into perspective by the great Merryn Somerset Webb. It goes on about how Japan struggled with a complete block on lending, low rates and previously rampant HPI. BTW house prices dropped 90%. Now....where have those ingredients been mirrored?
...regardless of what base rates are, if the banks don’t fancy lending they won’t lend – at any price. I was reminiscing with a colleague from my stock-broking days about how when we first arrived in Japan and found interest rates below 1 per cent, we couldn’t understand why everyone didn’t buy houses. Only later did we see that cheap mortgages were only available to a few risk-free customers – middle-aged men of a certain status and income level. Everyone else was excluded from the market: if they wanted to borrow money, they had to do so via the consumer finance companies at 20 per cent-plus.
The longer this credit cruch lasts it seems to get worse and worse. While 70% is a optimistic figure it certainly is not laughable anymore.
It is :rotfl:'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 Thatcher0 -
Remember folks we are currently 'only' showing just uner 15% and its been gloomy for 1 year already. 70% is going to take a quite a few more years.
Im off to bed now, will stir the pot again in the morning 0 -
Remember folks we are currently 'only' showing just uner 15% and its been gloomy for 1 year already. 70% is going to take a quite a few more years.
Im off to bed now, will stir the pot again in the morning
I thought it was about 8%.'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 Thatcher0 -
Head.....in.....sand........;)
Master - I bow to the all knowing one.
I have just noticed that you have saved 48.6% of your target deposit, how much is that about 2k?'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 Thatcher0
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