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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 2009But 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.
You've contradicted yourself (and both statements are wrong too!)
Banks are hardly lending at all; not even to each other! Mortgage deals are DOWN. Don't you read the news?
So whether or not a person has a squeaky clean credit history is neither here nor there: the mortgage offers aren't out there at the moment.
But people have a good 6 months to a year in which to get their finances in order, and for those who don't (or can't) then sadly they'll be left behind.
Of course the banks are only going to lend to people with squeaky clean credit - and there's thousands of people out there who have just that - and more! They also have a large deposit.
Many people jumped ship and sold just at the right time, and they're sitting on their stash; once the market picks up they'll get first pickings.
If that makes it wrong or unfair for those who don't have a deposit, or those who don't have good credit, then that's just too bad. Life sucks sometimes.
As you should know.0 -
December 2010pickledpink wrote: »If that makes it wrong or unfair for those who don't have a deposit, or those who don't have good credit, then that's just too bad. Life sucks sometimes.
As you should know.
Yep, you found me out, I have many 10's of thousands in investments and savings, that I can get at within 2-3 weeks and my last credit check was 981/1000.
Life does indeed suck:D.0 -
December 2009There are many frustrated people out there.
People who see buying as being able to get on with their lives.
People who STR and are now desparate for a home of their own.
People who put life plans (like relocating or having babies) on hold until they have bought.
People who have outgrown their homes and want something bigger.
People wanting to divorce and buy their own places.
At some point the idea of getting settled outstrips the savings made by waiting and they will buy.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 -
June 2011pickledpink wrote: »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.
Do you think the above will happen whilst people are losing there jobs! It's like there is announcement every week of a thousand or so people are to lose their jobs.0 -
June 2011There are many frustrated people out there.
People who see buying as being able to get on with their lives.
People who STR and are now desparate for a home of their own.
People who put life plans (like relocating or having babies) on hold until they have bought.
People who have outgrown their homes and want something bigger.
People wanting to divorce and buy their own places.
At some point the idea of getting settled outstrips the savings made by waiting and they will buy.
People who have lost there job now see there home as a noose around there neck
People who are now a prisoner in their own home due to negative equity
People who borrowed too much in the good times and are now struggling to repay0 -
June 2011Do you think the above will happen whilst people are losing there jobs! It's like there is announcement every week of a thousand or so people are to lose their jobs.
Whilst you do have a point, I still think that he also has a point, although I think 'mad dash' is a bit strong and that there will be a period of stagnation when at the time it wil be hard to see if prices have stabilised or not. I personally am waiting to buy 3 houses but not until they have fallen about another 10-12%0 -
June 2009Do you think the above will happen whilst people are losing there jobs! It's like there is announcement every week of a thousand or so people are to lose their jobs.
I still have friends living at home with their parents (25-30)
They are itching to move out, they are saving big deposits just now as they are living rent/mortgage free.
This unlike the last time has become the norm as FTB were outpriced and people were staying at home much longer.
There are those that are renting just waiting on the bottom of this fall. There are those BTL's/investors/property developers
There are those that sold to rent
There are those that dont want to miss the boat this time.
I suspect there are massive numbers just waiting to buy and i supsect the points above were not as relative as to what they were back at the time of the last crash.
People over the last 10yrs have got greedy, very greedy. I do not believe this amount of greed existed last time round. I will put my hand up and say if property prices drop a lot further, i'll be buying an investment home also. How many others will do the same?
Hence why this time it will be different.0 -
June 2012I personally am waiting to buy 3 houses but not until they have fallen about another 10-12%
Why do you want to buy 3 houses?...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 2011neverdespairgirl wrote: »Why do you want to buy 3 houses?
So you can live in one, have one ready to move into and the tthird is being cleaned?0 -
June 2011neverdespairgirl wrote: »Why do you want to buy 3 houses?
Because the investment property I bought in the 90's has proved to be a very good investment, when prices fall another 10-12% these too IMO will also prove to be good long term investments for me and my wife.
If you meant why houses over flats, although flats are usually more profitable with higher yields, I find houses are less hassle as I have more control over noise, leaks etc0
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