House prices may never recover...

FungusFighter

...sez some dude who writes for some money thingy
http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/why-home-prices-may-never-recover.aspx

Like anybody cares

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Even with HSBC's 'huge':D,£1 billion of funds entering the market, it is predicted that total mortgage lending for 2009 will £180 billion, that is 50% of peak. Regardless of media ramping, Kirstie Allsop, Gordon Brown, EA's blatant 'lying' at dumping previously sold property on Rightmove..............etc....etc.......

2007 is gone, and ain't never coming back in real terms, and I for one say Amen to that, as I'm sure my child, other peoples children and grandchildren, even the 'bulls' children, will say.

StevieJ

FungusFighter wrote: »

...sez some dude who writes for some money thingy
http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/why-home-prices-may-never-recover.aspx

Like anybody cares

You are travelling far and wide to find crap

FungusFighter

StevieJ wrote: »

You are travelling far and wide to find crap

Actually mate I was looking for !!!!!! and stubled on it;)

worried_jim

Of course it will recover, it just may take a little longer.

FungusFighter

worried_jim wrote: »

Of course it will recover, it just may take a little longer.

Longer than what mate?

It took 20 years to build the great pyramid...;)

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worried_jim wrote: »

Of course it will recover, it just may take a little longer.

I think the issue is, will you ever see a '2007 price' on a particular house again ?, the answer is of course, yes, probably around 2016-2017, however will we ever see prices this high again compared to wages/salaries ? (i.e real inflationary terms), that is a different issue all together, my suspicion is not.

My reason for saying this, is the carnage that now surrounds us.

Swans1912

We bought our house right at the peak for £109K which we were pleased with at the time. We can afford the mortgage and have a fair bit of money left over at the end of each month... we are living not surviving.

However, we would love to move to something a little bigger. This house has served its purpose and we would love to either part-ex or sell up.

There is a similar house in the street on the market for £109K and out mortgage current sits at £99,300. If we could sell at £100K then we would lose our deposit and anything less then we are losing even more money.

My view is...

1. Sell now, lose roughly £15K, buy new house.
2. Wait, Sell in future, break even, new house will cost more

Either way we would lose out!

We bought at the wrong time and we understand that, we don't regret buying... had we bought it 3-4 year ago we would be moving on with a fair profit!

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iKennett wrote: »

We bought at the wrong time and we understand that, we don't regret buying... had we bought it 3-4 year ago we would be moving on with a fair profit!

Although I sympathise with your situation, I doubt even the above statement is true. average house prices are already back to 2004.

Broken_hearted

Of course it will recover as there will always those stupid enough to lend/borrow too much.

FungusFighter

Broken_hearted wrote: »

Of course it will recover as there will always those stupid enough to lend/borrow too much.

That's not what that Yale geezer is saying;)

2 bubbles in history and we've just had one, let's face it mate, their fewked for the forseeable:eek: