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Debate House Prices
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When do you think house prices will hit the bottom of the market?
Comments
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December 2009I think they could be a small false dawn in Spring 2009, after which prices will drop again. The low point will be Dec 2009 and then there will be an increase by Spring 2010. The media will say that this could be a false dawn again, but this time the fall won't follow and prices will be stable for a while.
Why so soon? People will have more money, interest rates are low so borrowing is cheap, utility prices will come down, people will decide they have been careful for too long. Houseprices appear cheap, so people will want to buy while they can afford to.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
December 2010We jumped on last time during a false dawn. Our theory was it had fallen 20% so we had bagged the major losses and now needed somewhere to live.
It increased for a short while before falling another 10% over three years.
I'm expecting 30-40% falls this time so with the speed they are falling no reason why we won't be at -20% by spring 2009. There could be a shortlived bounce anytime from then on really depending on peoples situation.0 -
June 2012I can't believe the most voted for (at the time of this post) December 2009, why on earth do people think the market will pick up in December, the winter is traditionally very quiet. Not to mention there has got to be more than 12 months of this crash left to run yet.
This isn't about the picking up, it's about the nadir....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 -
June 2012IveSeenTheLight wrote: »Roll up, Roll up.
Get your crystal balls here
Essential for future predicting / guessing.
Is there anything wrong with asking what people think / expect / predict?...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 -
December 2010I think the bottom will be late 2010, however the question will then be how long will the bottom last ? I reckon about 3 years, which is less than last time but I'm feeling optimistic
However I hope NDG's prediction is right I will be a very happy, no mortgage at all for me.0 -
December 2010Additionally if the market bottoms out in June 2012, how long will stagnation last before rising again?
Stagnation until 2013-2014, with 2007 prices finally coming round again in 2018.
History tells us price peaks of the previous boom take at least a decade to come back round, unless of course it's different this time.:rolleyes:0 -
December 2009Stagnation until 2013-2014, with 2007 prices finally coming round again in 2018.
History tells us price peaks of the previous boom take at least a decade to come back round, unless of course it's different this time.:rolleyes:
Total rubbish!!!
You haven't got a clue!
When the banks start lending again (which has to happen - and will happen - probably within the next 12 months) and property will have plateaud by then, there will be a mad dash to buy and sell.
Remember, people are holding out until then - and then everything will be manic while people fight for the best properties and bargains. Prices will start to zoom very quickly again..........you'll see.0 -
December 2009pickledpink wrote: »Total rubbish!!!
You haven't got a clue!
When the banks start lending again (which has to happen - and will happen - probably within the next 12 months) and property will have plateaud by then, there will be a mad dash to buy and sell.
Remember, people are holding out until then - and then everything will be manic while people fight for the best properties and bargains. Prices will start to zoom very quickly again..........you'll see.
Whilst i partly agree do not forget the banks have had their fingers burned quite badly. Its a case of lesson learnt and it will take years, if ever, to see the 9-10x multiples 125% LTV again. (PS - how bad :eek: does that offer sound these days?)
Despite what certain people say there is a long way down before an average person/couple can afford somewhere without worrying about being reposessed because they cannot afford the repayments.0 -
June 2010pickledpink wrote: »Total rubbish!!!
You haven't got a clue!
When the banks start lending again (which has to happen - and will happen - probably within the next 12 months) and property will have plateaud by then, there will be a mad dash to buy and sell.
Remember, people are holding out until then - and then everything will be manic while people fight for the best properties and bargains. Prices will start to zoom very quickly again..........you'll see.
I'm not so sure there will be a mad rush as confidence will still be fairly low. Yes lending will come back (just as it did last time) but there will still be restrictions for a while to come yet while the banking system recoups.
It will probably be a slow start to buying again, gradually gaining pace as confidence returns.
Mind you, who knows right now what is going to happen....I could be talking out of my bum and am only going on what happened in the last recession where the cost of my house purchased in 1990, only returned to that in 2001 (and then it doubled by 2005!)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 -
December 2010pickledpink wrote: »Total rubbish!!!
You haven't got a clue!
When the banks start lending again (which has to happen - and will happen - probably within the next 12 months) and property will have plateaud by then, there will be a mad dash to buy and sell.
Remember, people are holding out until then - and then everything will be manic while people fight for the best properties and bargains. Prices will start to zoom very quickly again..........you'll see.
But the banks are lending, even now they are lending 50% of the all time reckless high.
A mad dash to buy ??, Some people will be sadly disappointed when they find they can't get a mortgage because they need a squeaky clen credit history.
Lastly, prices only zoom one way in a recession.
I'm humouring you really when I respond to your posts, their are people on here who think prices will rise sooner than later and generally put in reasoned arguments why this will happen. However your posts are so outlandish and disconnected from the real world that only one word comes into mind.... troll.0
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