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Debate House Prices


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UK house prices down 23 percent in real terms.

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Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    There your 8000 thanks well done :beer:
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    StevieJ wrote: »
    There your 8000 thanks well done :beer:
    My count has taken a kicking since NDG left, 2000 of my 'thanks' were from her. :(
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    ad9898 wrote: »
    My count has taken a kicking since NDG left, 2000 of my 'thanks' were from her. :(
    Likewise. But at least I feel I can watch Borat with a clear conscience now.

    Oh btw. House Prices are not going to recover anytime soon.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    mewbie wrote: »
    Likewise. But at least I feel I can watch Borat with a clear conscience now.

    Oh btw. House Prices are not going to recover anytime soon.

    Mmmmm, subtle change of emphasis there, from 70% down club to not recover soonicon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    What does this mean house price affordability back to 2007 levels, I thought that was the peak :eek:

    [SIZE=+1]Houses At Most Affordable Since 2007[/SIZE]

    http://uk.biz.yahoo.com/090501/140/ikow5.html
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    StevieJ wrote: »
    Mmmmm, subtle change of emphasis there, from 70% down club to not recover soonicon7.gif
    You got me Stevie. I don't have the first idea what I am talking about. Boom times around the corner maybe? I'm certainly going to pile all in with a few 100% BTL mortgages as soon as I come out of rehab.
  • julieq
    julieq Posts: 2,603 Forumite
    Dithering_Dad wrote: »
    Totally agree, a large percentage of the UK population still has a mania for property that even such a steep crash as this one hasn't dented it.

    Arguably because almost all of them actually live in it? Just a thought anyway.
  • Cozworth806
    Cozworth806 Posts: 530 Forumite
    The reason I bought was because the price led to a 10 year fixed mortgage rate £100pm less than the rent we were paying on a comparable property.
    SO without rent inflation etc I can see that property is still going to be popular, but rather than inflation linked surely it should be earnings linked?
    Nothing to see here :beer:
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    Cozworth806 wrote: »
    The reason I bought was because the price led to a 10 year fixed mortgage rate £100pm less than the rent we were paying on a comparable property.
    SO without rent inflation etc I can see that property is still going to be popular, but rather than inflation linked surely it should be earnings linked?

    Ahh, the 10 year fix I've been talking about, a wise choice, as we come out of recession in 12-18 months time, oil will raise it's head again, and inflation will be on the rise, to say nothing of the 2.5% VAT increase at the end of the year, BoE base rate will be over 4% by the end of 2010, and before anyone asks, yes I do have a crystal ball, you have all be warned:D, get your 10 year fixes in now.
  • julieq
    julieq Posts: 2,603 Forumite
    What makes you think the people offering 10 year fixes can't see the same things you can Ad? Because if they have they've priced them in already with a stonking margin to offset the risk of not really knowing what will be happening 10 years hence.

    Long term fixed rates are about budgetary stability and predictibility and nothing more. Unless you know something other people don't, you can't use them to beat the market.
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