Daily Telegraph joins the 70% club

mustrum_ridcully

ad44downey wrote: »

It's good to see the doubting Thomases like the Mail and the Telegraph finally wake up and realise the grand scale of the present house price crash

Therein lies the reason why this is significant.

There are many people around who will treat what the Mail says as Gospel. Some of them are likely to be trying to sell their houses (or 2nd homes, BTLs). This may well serve as a bit of wake-up call for these sellers (particularly some older Mail readers) who've refused to lower asking price or take below asking price offers.

They might be able to ignore the BBC and it's Stalinist reports of falls in house prices but when their beloved Mail tells them it could be another matter. Think about how many people refused to give their children the MMR jab based on hyped-up reporting in the Mail....

ukcarper

If all these figure are true soon be the most expensive place to live will be on a big sink estate.

Rochdale_Pioneers

dopester wrote: »

So many areas have seen house prices trebling in "value" in 10 years. You were happy to puff out your chest and take the "profit" on a home, it seems to me, as you traded up in a house which required bigger money to be spent, and more debt to be taken on.

You got that right. What you haven't got is me wailing about negative equity. I'm not planning on moving so as and when I hit negative equity I won't maker a loss when I don't sell anyway. My point still stands though - a 70% drop will cover an awful lot of people.

ukcarper

A 70% drop would certainly take out a lot of house price inflation house Maxs £285k + £85.5k that’s a lot less than in would have cost 10 years ago I would hazard a guess that you would have to go back at least 15 years maybe even 20 to find it for that price.

Austin_Allegro

mustrum_ridcully wrote: »

Therein lies the reason why this is significant.

There are many people around who will treat what the Mail says as Gospel. Some of them are likely to be trying to sell their houses (or 2nd homes, BTLs). This may well serve as a bit of wake-up call for these sellers (particularly some older Mail readers) who've refused to lower asking price or take below asking price offers.

They might be able to ignore the BBC and it's Stalinist reports of falls in house prices but when their beloved Mail tells them it could be another matter. Think about how many people refused to give their children the MMR jab based on hyped-up reporting in the Mail....

Exactly. The point is not the accuracy of the report (though I doubt it's inherently any less trustworthy than all the 'houseprices will go up for ever and never crash' reports by A.N. Estate Agent they usually print) but the fact that they would print such a report at all.

It's like when the 'Sun' suddenly changes allegiance to a political party before an election.

Really2

Austin_Allegro wrote: »

Exactly. The point is not the accuracy of the report (though I doubt it's inherently any less trustworthy than all the 'houseprices will go up for ever and never crash' reports by A.N. Estate Agent they usually print) but the fact that they would print such a report at all.
.

Is that odd fear sells at the moment?

Look at this forum how many positive storys are posted?

It is obvious the sheeple like bad news storys at the moment and it sells papers.

Austin_Allegro

Really2 wrote: »

Is that odd fear sells at the moment?

Look at this forum how many positive storys are posted?

It is obvious the sheeple like bad news storys at the moment and it sells papers.

If that was the case, why did the media mainly report positive stories on house prices until just a few weeks ago? Surely if their aim was to sell papers through scaring people, they would have done so even in the 'good' times?

I think it's more that they realise their advertising budget is less dependent on housing and its associated products.

Really2

Austin_Allegro wrote: »

If that was the case, why did the media mainly report positive stories on house prices until just a few weeks ago? .

I have not seen a possitive story for ages even when the halifax said prices had gone up 1.9% they said it was a blip?

sabretoothtigger

What does that mean, a two bed roomed house for a years salary ?

StevieJ

Austin_Allegro wrote: »

If that was the case, why did the media mainly report positive stories on house prices until just a few weeks ago? .

You must be Joe King