House sales set for 10% increase

wymondham

thriftyminx13 wrote: »

I posted on the other thread within House Prices, the economy and the recession about how so many of my friends are looking seriously at buying houses, or have placed bids or have bought property in the last 2 months.

I live in northern ireland and they seem to think that the prices here are for turning. i thought it was just me but having spoken to my brother, he said a number of his friends were looking to buy at the minute.

madness? or canny?

i'd personally go with madness. Buying at the start of the worst recession in recent history, when no job is safe and price falls set to continue??? See if your brother etc still want to buy after all christmas cheer has passed - a few weeks into 2009 will see lots of big changes...

thriftyminx13

wymondham wrote: »

i'd personally go with madness. Buying at the start of the worst recession in recent history, when no job is safe and price falls set to continue??? See if your brother etc still want to buy after all christmas cheer has passed - a few weeks into 2009 will see lots of big changes...

Well.....I don't know. I suppose it depends what there jobs are in. my friends are in the council, civil service and teach so maybe they feel more buffered. i know they have deposits. one friend moved in 2 weeks ago and another put offer on property last week. seems that they think prices wont go much lower but they may have more trouble getting a mortgage in future.

wymondham

thriftyminx13 wrote: »

Well.....I don't know. I suppose it depends what there jobs are in. my friends are in the council, civil service and teach so maybe they feel more buffered. i know they have deposits. one friend moved in 2 weeks ago and another put offer on property last week. seems that they think prices wont go much lower but they may have more trouble getting a mortgage in future.

does not matter these days ... no jobs are 'safe' as such. prices have a long way to go still I think...

besonders1

Fantastic thread, with many good points made. It is true that no job in todays society is "safe" (except the army or police force). I agree that obtaining credit is really the reason why prices are dropping and that only a few buyers will benefit. Having a house price crash means that you get everything that comes with it, no job,no mortgages, cheaper prices but hardly any buyers.

ruggedtoast

besonders1 wrote: »

Fantastic thread, with many good points made. It is true that no job in todays society is "safe" (except the army or police force). I agree that obtaining credit is really the reason why prices are dropping and that only a few buyers will benefit. Having a house price crash means that you get everything that comes with it, no job,no mortgages, cheaper prices but hardly any buyers.

Having an unsustainable hyper inflationary credit boom for a decade, based on one type of vastly over valued asset, means that you get everything that goes with it.

You've pretty much encapsulated most UK peoples attitude to how inextricably linked constant hpi and a functioning econony are.

Its for this reason I probably will be choosing property as an investment vehicle again, for the "next time around". Because when it comes to housing boom and busts history just keeps telling us the same thing. British people cannot learn.

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Soot2006 wrote: »

Well if prices go down enough, I'll definitely be buying, so there's a sale . I know quite a few people of the same thoughts as I.

I know a lot of people who like to buy when prices hit bottom, although I don't see a large amount fitting the lenders criteria.

Moral of the story, in the last few years, if you could fog a mirror you could get an affordable mortgage, those days have gone, hopefully, for good.