Halifax December Figures -2.2%

StevieJ

Zelie wrote: »

A curious post. I'm guessing that in your social group it's fairly normal to bet. I don't think I know anybody who bets on anything with the exception of my dad who used to put 20p bets on for all of us for the Grand National.

All in all I'd say the lack of betting is about different cultural norms rather than faith or lack thereof in what might happen.

Loads gamble near me, then again I live close to the racecourse

davilown

mitchaa wrote: »

12 months coming drops certain? Im not so sure, houses really are getting very close to affordability NOW. Im not saying there wont be more declines, but im pretty sure there wont be another 12 months worth.

Not an expert by any sense but houses are no closer to affordability for the simple reason the FTB now have to save a lot more for their initial deposit, of say 20%. This will lead to a longer time span before FTBs can, therefore leaving sellers selling for longer, getting more desperate to sell, thus decreasing the prices further. For the average couple, it will surely take 2-3yrs to save £20k and that's assuming they have no other debts and earn a decent wage - a lot more than the national average. Then you will have to factor redundancies in and the list goes on!
All very well that some posters are saying investors will buy all the properties but they won't because the're few of them who will be willing to enter the market for some time. Only the gamblers will enter.
Obviously only my opinion and I am in no way shape or form a financial novice

Cat695

This is what I'm thinking

We've only really started a recession, job losses have only really kicked in, it will take a couple of months for people to max out on credit cards and use up their savings paying mortgages etc

Then we will start to see the real effect of the credit crunch

2009 will NOT be a good year for house prices

davilown

jungli_jim wrote: »

I'm even better my friend, 3 bed MQ, rent, water, council tax and garage charge costs sub £300 and i get RPD at £90 a month.

.:j

You need to get a cheaper MQ - Mine's circa £200 a month all inclusive, ex officer's as well!:D
Admittedly, it costs nearly £2000 a year to heat and light though:mad:

neverdespairgirl

dopester wrote: »

That phase may soon lose the definition, if it currently means a sure-fire win for profit.

Fair point. Safe as houses, then?

Er....

neverdespairgirl

StevieJ wrote: »

Are you going double or nothing for 2009 :beer:

I have a funny feeling the odds won't be quite as good this year....

mitchaa

dopester wrote: »

The average wage is going to tank. Don't you get it yet.

Honestly. You all do my head in. You really are all tripping off your heads when you bandy around £25K and £30Ks in averages for your expectations for the future.

Welcome to deflation, pay-cuts and unemployment.. unstoppable.

Evidence to back up your claims please:rolleyes:

ONS went up 2007 to 2008 and 2008 has been pretty dire. How many times do you need telling, mass unemployment, if you can call it that at 6%:rotfl: has no bearing on average incomes, so how is it going to drop? Asking people to take paydrops??Where is the widespread evidence of this??

The majorities will not have pay drops like ive already said, so your theory is flawed.
'' The annual average salary is stated at a pittance £26k pa. Some people wouldn't get out of bed for such a dire amount, i personlly think it should be a bit higher and if you look at the actual figures for males in FT work, it actually is. The PT and female workers are having an affect on this £26k, but then i hear your counter argument of the high earning £100k+ bunch propping up the figures so i suppose i can accept £26k to be fairly accurate ''

And there were 8 equally loonies that have agreed with you....Good god:D

mitchaa

jungli_jim wrote: »

I'm even better my friend, 3 bed MQ, rent, water, council tax and garage charge costs sub £300 and i get RPD at £90 a month.

According to Halifax the average house has fallen around 21% non seasonally adjusted from the peak at £199,600.....a saving nearly £40k. Over the last 12 months i've saving £15k as well......

House price crash saved me to date £55,000 and 25 years worth of interest payments.:j

You keep telling yourself that, you may just end up believing it. I suppose you live in 1 of these prime 21% down areas too:rolleyes:

Concept of the word average may help, along with regional variations. Additionally, who says you were ever going to buy the average house? A £100k house that has lost 20% is now priced at £80k, saving of £20k

Where has 21% come from, think you made that up yourself, if you want to be picky here, halifax figures are not even 20%, actually 19.99% when you do the maths.

You should be saving a lot with your cheap outgoings, that is good news and will tide you well come the bottom so well done

dopester

mitchaa wrote: »

Evidence to back up your claims please:rolleyes:

ONS went up 2007 to 2008 and 2008 has been pretty dire:p How many times do you need telling, mass unemployment, If you can call it that at 6%:rotfl: has no bearing on average incomes, so how is it going to drop?

Well it seems the latest reports are concluding what has been obvious for a year and more.

How it isn't obvious to some I just don't know. Other than perhaps a mechanism, in some people which blocks the processing of any clear logic of impending pain or loss, if the person is not prepared to take action or prepare for an event.

Telegraph 29th December

Workers face a year of redundancies and pay cuts, managers say

More than 1,600 people will lose their jobs every day during 2009 as the British economy sheds workers at the fastest pace for nearly 20 years, personnel managers say today.

By James Kirkup, Political Correspondent
29 Dec 2008

Many of the workers who keep their jobs will face pay freezes or even outright cuts in their wages, a report predicts. The Chartered Institute of Personnel and Development forecasts that 600,000 workers face redundancy during 2009.

Both the CIPD and the British Chambers of Commerce also raised the prospect of workers seeing their wages reduced during 2009 as companies try to cut costs and stay in business.

Business leaders say pay cuts for serving workers are almost without precedent in the last two decades and illustrate the pressure on British companies today.

A BCC poll of companies found that 43 per cent plan to freeze wages in 2009, and 9 per cent will cut workers' pay.

mitchaa

Time will tell Dopester, if your predictions do actually come true, i'll be the 1st to offer my apologies, come down to Manchester and buy you a pint with the money from my begging bowl