Was The End of Last Year the bottom of the Market?

setmefree2

Was the end of last year the bottom of the market?


New Smugs who bought homes a few months ago feel vindicated. But are they right?

House prices are moving up according to the latest surveys. Mortgage approvals and other key indicators are also rising. We are also hearing a lot more from the New Smugs — those who faced down almost universal derision and bought a home at the end of last year. Today they feel vindicated in this calculation. You will know that you have met a New Smug when that person starts to preach the benefits of “buying before you see the light at the end of the tunnel”. In the past, this has been a profitable course of action, but only if well-timed. The New Smug would appear to have timed their purchases very close to the market’s nadir.

http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article6437226.ece?Submitted=true

themanbearpig

End of stage one maybe, but there are more falls to come in the medium term. How much and when is the real question.

kennyboy66_2

If I had to bet whether the end of last year saw the lowest point, or that house prices will fall by another 10% from now, I would be having a massive bet on then falling.

nearlynew

As an answer to the title of the thread..............

No the bottom in prices is yet to come.

ad9898_3

I've said it a million times, unemployment rising, GDP shrinking, public sector to be hammered after election, tax rises, interest rate rises in the medium term, if all these issues were opposite, the bottom would be here and now, they aren't and it isn't.

bluey890

Many houses are now paid for. Plus more and more people living under one roof. House price stabilization perhaps?

That is unless the Tories increase interest rates or reduce help to homeowners unable to pay their mortgages.

mewbie_2

I remember huddling behind a wall in Ypres with my mate Tommy at the end of 1940 and asking him "do you think it will be over by Xmas?" He was a wise old cove. "Not a chance Mewbie" he said.

nearlynew

mewbie wrote: »

I remember huddling behind a wall in Ypres with my mate Tommy at the end of 1940 and asking him "do you think it will be over by Xmas?" He was a wise old cove. "Not a chance Mewbie" he said.

Is this the sort of man you would want beside you in the trenches mr. b?

kennyboy66_2

mewbie wrote: »

I remember huddling behind a wall in Ypres with my mate Tommy at the end of 1940 and asking him "do you think it will be over by Xmas?" He was a wise old cove. "Not a chance Mewbie" he said.

If he was that wise he would have told you to get the boat back from Dunkirk 6 months earlier with the rest of the troops!

mewbie_2

kennyboy66 wrote: »

If he was that wise he would have told you to get the boat back from Dunkirk 6 months earlier with the rest of the troops!

It's no laughing matter. I lost a large part of my ear not long afterwards (shrapnel) and was airlifted back to Blighty. Fortunately Vera Lynn visited us in hospital and cheered me up. Patched up I spent the rest of the time... oh I can't keep it up, sorry.

bo_drinker

mewbie wrote: »

It's no laughing matter. I lost a large part of my ear not long afterwards (shrapnel) and was airlifted back to Blighty. Fortunately Vera Lynn visited us in hospital and cheered me up. Patched up I spent the rest of the time... oh I can't keep it up, sorry.

Oh do go on, it's better than some of the dross we have to wade through on here..... :rotfl:

PS we are nowhere near the bottom.