Wake up...... IT'S OVER

dervish

davidb881 wrote: »

I live in Suffolk and sold my house twice in less than two weeks (the first buyer found a better bargain).

Driving around, I would say at least two thirds of the estate agency boards up, say sold and there are a reasonable number up.

I have offered on 4 houses and been out bid on all of them. My offers have been about 90 to 95 % of the asking price.

What’s going on? The stress I am going through it unbearable. Anyone with an opinion tells you it’s a buyers market. That’s rubbish, if more people could get a mortgage there would be a stampede.
The media have done it again. I am afraid a massive over reaction has taken place and too much has been wiped of the market. I can tell you for a fact that investors are lapping it up. O joy, the rich getting richer.

what an imflammatory and biased post for sucha newbie.... :rolleyes:

ad9898_3

mr.broderick wrote: »

It is mrs.b you cheeky bhugger She thinks all this sockpuppet stuff is hilarious!

Lucky b*stard, although I would suggest she isn't.:D

davidb881

dervish wrote: »

what an imflammatory and biased post for sucha newbie.... :rolleyes:

If only it was biased... I am living it and pulling my hair out... How many of the opinions here are based on recycling what they have been told... This is my experience… My fact. I gave that recycled crap to the estate agent -20 % blah blah.. He laughed and then sold another house.

dervish

davidb881 wrote: »

If only it was biased... I am living it and pulling my hair out... How many of the opinions here are based on recycling what they have been told... This is my experience… My fact. I gave that recycled crap to the estate agent -20 % blah blah.. He laughed and then sold another house.

so why tell everyone to WAKE UP then - who is your beef against?

Surely your 'anger' would be better directed at house seller/ buyers and NOT fellow MSErs...? :rolleyes:

socrates

davidb881 wrote: »

Have you read it?

This is the house prices, the economy & recession section.

I am on about the house price crash..... which is to do with the economy in a recession....

HELLO

Hello - did you read what I said?

Appropriate being the key word

davidb881

dervish wrote: »

so why tell everyone to WAKE UP then - who is your beef against?

Surely your 'anger' would be better directed at house seller/ buyers and NOT fellow MSErs...? :rolleyes:

very true.. but I did hope for a little more sense from the posters.

besonders1

May be you need to spend less time listening to what the estate agents say, that sounds barmy. I don't know of a town in the UK thats selling houses like hot cakes in todays market. Are you sure they are not just putting SOLD boards on every house to wind us all up?

davidb881

Back to the point.
My experience is that people with money are buying houses. If people could get a mortgage they would buy a house too. House prices are declining because of this alone. To my knowledge 95% of the working population are still, well, working. I expect a sharp reverse in prices, when banks sort themselves out and I believe investors know it and it’s laughable to think that financial institutions will become more responsible. The horse has already bolted and the horse will need to reined in, tethered and then sold even more imaginative credit products.

mp2

davidb881 wrote: »

That’s rubbish, if more people could get a mortgage there would be a stampede.
.

It amazes me how people still dont understand why house prices are falling and why they will continue to fall.

The main point being, people cant get a mortgage and wont be able to get a mortgage for the foreseeable future.
The era of easy lending is over. At best "normal" lending will return eventually, leading to "normal" house prices.

People cant get a mortgage today because they cant afford to. If you want to get a mortgage based on 3.5 times earnings its quite easy, almost everyone can do it. If you want to buy a house at 3.5 times earnings you cant.

The idea that people "cant" get a mortgage today is misleading. The truth is, most people "cant" get a mortgage based on todays house prices. As a result house prices will continue to fall until it reaches normal levels again. i.e a national average of around 90k.

davidb881

besonders1 wrote: »

May be you need to spend less time listening to what the estate agents say, that sounds barmy. I don't know of a town in the UK thats selling houses like hot cakes in todays market. Are you sure they are not just putting SOLD boards on every house to wind us all up?

I know of others who have sold.. Any house, in this area, under 200K, correctly priced, is selling.