Property crash soon???

RoCas

Here's an interesting site:
http://www.housepricecrash.co.uk/forum/

Woby_Tide

the house price crash officially happened from August 2004 until everyone got bored. The topic is still lurking a few pages further along this forum.

Nothing new to see here, move along

trigger_mike

well thank you for this joyful thread, just what you want to hear when you have a £132000 mortgage on a £152000 home...

NastyMatt

I have done some extensive analysis of deemy's graphics and have deduced that in the last 49 years house prices have steadily risen.

Wow.. thanks for that graph...

supersaversarah

NastyMatt wrote:

I have done some extensive analysis of deemy's graphics and have deduced that in the last 49 years house prices have steadily risen.

Wow.. thanks for that graph...

Loving your work! :rotfl:

nmiah786

more Sweet Popcorn Please!!!!!

welnik

Im looking at moving and I too am a bit worried as to whether I am doing the right thing. I'm thinking back to 1989. I bought my house in this year and 12 months later, the price plummeted by 35%. The house prices had doubled back then and I purchased my house thinking that if they went up anymore, I would never own my own house. I had neg equity until 1997 and was trapped. Strangely, friends that bought 18 months after I did have lovely big houses now in good areas with less mortgage than me!

Chatting to people I know, the majority cannot afford to move. They have mortgages around £50,000 currently and to better themselves, they need £150,000 on a mortgage. Instead they are staying put and improving the home. For an extra £100,000 they may get a 4 bed instead of a 3!

Also, when you listen to estate agents and lenders, house prices are only going to increase, but then I read the other day that the Land Registry quoted that house prices are now 2% less on average compared to 12 months ago. I saw a price the other day advertised as an Ideal First Time buyer purchase and it was on the market for £175,000! If I hadnt have joined the housing ladder 17 years ago, there is no way on this planet I could afford 95% of that! The deposit alone would take years for me to save and my husband and I are on above average wages!

There also seems to be a lot of ex buy to lets back on the market. Why?

distilled

Live-on-Less wrote:

I guess you'd be one of those pundits I mentioned.... maybe you could elaborate on why its "rubbish!"

A pundit? OMG I've been called some names in the past but a pundit!! Just leaving the office after dealing with a record number of reservations last week, (what recession?????). If I can drag myself away from the pub later, I'll be more than happy to explain why you're talking absolute !!!!e! (rhymes with night)

Deemy

NastyMatt wrote:

I have done some extensive analysis of deemy's graphics and have deduced that in the last 49 years house prices have steadily risen.

Wow.. thanks for that graph...

Don't forget the near 50% retracements from peak to trough which suggest target move from 160k to between 80 and 100k...


munch, munch, munch.

wibble68_2

Live-on-Less wrote:

The market is currently teetering on the edge, any upset in the general economy will precipitate a crash. Those who have recently entered the market will be left with massive negative equity, so if you are thinking of buying, very carefully compare the true total costs of renting vs. buying, and you'll probably find it's cheaper to rent and wait until prices fall to more normal levels in relation to earnings. The end. Phew!

This is a possible outcome but IMO not in the short term.

It's very hard to see where the trigger will come from to produce a crash.

Based on the current state of the economy it's very likely we will see a long period of adjustment.