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Debate House Prices


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House prices fall in June, but still first-time buyers struggle

24

Comments

  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bluey890 wrote: »
    This isn't my first house price crash and I doubt it will be my last.
    As for age, I am old enough to satisfy your wife / girlfriend. ;)

    If you're fit and anybody requires an independent assessment, I've emptied my Inbox.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    edited 22 June 2009 at 9:07PM
    PasturesNew wrote: »
    If you're fit and anybody requires an independent assessment, I've emptied my Inbox.

    I am an improvement on mewbies farting and belching robot.
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • System
    System Posts: 178,376 Community Admin
    10,000 Posts Photogenic Name Dropper
    Why the hell is the article entitled "House prices fall in June" when the 2nd paragraph wades in with "Asking prices dropped 0.4% in June"?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Mozette
    Mozette Posts: 2,247 Forumite
    bluey890 wrote: »
    I am an improvement on mewbies farting and belching robot.


    How, what else do you do?
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    Joeskeppi wrote: »
    Why the hell is the article entitled "House prices fall in June" when the 2nd paragraph wades in with "Asking prices dropped 0.4% in June"?

    Come on Joe, you must have seen this before when the asking prices were rising.
  • System
    System Posts: 178,376 Community Admin
    10,000 Posts Photogenic Name Dropper
    ad9898 wrote: »
    Come on Joe, you must have seen this before when the asking prices were rising.

    Yeah exactly, I'm just taking the role of you guys now in the interests of fairness ;)
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Bluebirdnick
    Bluebirdnick Posts: 113 Forumite
    edited 23 June 2009 at 12:05AM
    Interesting.

    I suppose if you are actually a first time buyer and you are seriously going to buy now, things will be a bit tough at the moment. This is simplistic, but in my view this is for two main reasons: One, house prices are going to fall further so you need a big deposit to avoid negative equity - if banks want a 20% deposit, I guess they fear that prices could fall another 20%. Two, interest rates are going to go up, and a lot, so lenders are not going to be pretty careful when looking at a borrower's ability to meet the interest cost.

    However, if you were a FTB and you have decided to wait for a year or two, life is actually pretty rosy. Rents are cheap, accommodation is plentiful, and a savings account is performing a hell of a lot better than the housing market at the moment. No panic or struggle here.

    EDIT: I'm not sure that I should have described a 20% deposit as "big". It is certainly bigger than what was needed in 2007, but is it big compared to other countries?
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Bluebirdnick wrote: »
    Interesting.
    However, if you were a FTB and you have decided to wait for a year or two, life is actually pretty rosy. Rents are cheap, accommodation is plentiful, and a savings account is performing a hell of a lot better than the housing market at the moment. No panic or struggle here.

    and fixed rates are increasing, every silver lining has a cloud icon7.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
  • zappahey
    zappahey Posts: 2,252 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    purch wrote: »

    BTW I would have thought that by now it would be generally accepted that Demand and Supply have very little impact on the price of Housing.

    Well, if it's not supply and demand, what does have an impact?
    What goes around - comes around
  • SingleSue
    SingleSue Posts: 11,718 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Public sentiment? The feeling that if they hold on they can get a better deal? Confidence in the system?

    I have no idea but thought I would throw them out there but I think confidence/sentiment would have to be big deciding factors...if your best buddy Annie is buying a house and gushing over it, you are more likely to buy..but if best buddy Petra is is bemoaning things and/or lost lots of money in a house sale, you are less likely to.

    Of course, I could be completely wrong as per usual......and probably am!
    We made it! All three boys have graduated, it's been hard work but it shows there is a possibility of a chance of normal (ish) life after a diagnosis (or two) of ASD. It's not been the easiest route but I am so glad I ignored everything and everyone and did my own therapies with them.
    Eldests' EDS diagnosis 4.5.10, mine 13.1.11 eekk - now having fun and games as a wheelchair user.
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