Why I Love House Prices Crashing

chucky

ad9898 wrote: »

Just to edit..... and I'll probably get flamed for this but I think 2009 can be written off as not being realistic in the large scheme of things, borrowed money (£13 billion just last month) is being used hand over fist in every single month of this year, far, far more than has ever been used. As we all know, anyone can borrow money and look healthy and wealthy for a time..... but at some point it's going to have to stop, it will be then when we see if the country and house prices can stand on their own two feet.

by saying this it gives the impression that you are expecting another crash (i know you are but "bear" with me).

you're doing the same thing that people did in 2002 predicting a crash - they had to wait 5 years for it to happen!

ad9898_3

Dan: wrote: »

I would agree with this. However, I don't think it will cause a second house price crash but more likely to keep prices around the same level and prevent any HPI.

Not sure if that will happen but I'd be ok with that, I would have liked to buy a 911(not brand new you understand) if I had any money left from my house purchase, but I shouldn't get greedy I guess.

cogito

I expect that if you were unfortunate and naive enough to have bought at the top of the market and now have seen your property decline in value by around 20%, you'd consider the situation to be absolutely hilarious. OP wants to grow up.

BTW - I'm a mortgage free home owner who has always regarded my house as somewhere to live and not an investment.

shakerbaby

chucky wrote: »

let's just hope that you can buy that dream home in Bridge Of Weir.

YOY, Renfrewshire is only down 12%... still expecting that extra 40%... dream on... :rotfl:

Don't worry it's well known Scotland lags behind the indices. :beer:

michaels

I'm sorry to burst everyone's bubble but:

Lets assume that houses are more affordable.

Good everyone can spend less of their income on housing and have a bigger house - everyone is a winner

Spotted the fallacy yet?

Are there any more houses to go around? With lower prices will suddenly more of these larger houses get built?

Oh dear, penny starting to drop. House prices rise to the level where the just enough people are priced out of the market for all houses to be sold.

There may be some redistribution between who can afford the houses out there (those who have regular salaried income, those who have the discipline to save for a large deposit or the luck to be gifted this from their parents may gain, those self employed or willing to lie for a bigger loan may lose out) but unless there are either more houses out there or the proportion on people's incomes they are willing to spend on housing fall then there will be no change in affordability.

Sorry

shakerbaby wrote: »

a) It will enable 'first time buyers' to buy something bigger than a slave-box rabbit hutch; :beer:

ad9898_3

chucky wrote: »

by saying this it gives the impression that you are expecting another crash (i know you are but "bear" with me).

you're doing the same thing that people did in 2002 predicting a crash - they had to wait 5 years for it to happen!

The forecasts for the economy looked a lot rosier in 2002, just as they did in 1993, when the crash was mostly over, with prices only dipping due to inflation in other areas through to '96. This time the future is not rosy, and borrowing not only will have to stop, but the debt repaid, if it doesn't the bond markets will look upon us unfavourably.

chucky

ad9898 wrote: »

The forecasts for the economy looked a lot rosier in 2002, just as they did in 1993, when the crash was mostly over, with prices only dipping due to inflation in other areas through to '96. This time the future is not rosy, and borrowing not only will have to stop, but the debt repaid, if it doesn't the bond markets will look upon us unfavourably.

i disagree - but it doesn't matter

good to see that you got your password back for your account.
some 'chode' was using your account for the last couple of days

ad9898_3

chucky wrote: »

i disagree - but it doesn't matter

good to see that you got your password back for your account.
some 'chode' was using your account for the last couple of days

What's a chode ?;)

IveSeenTheLight

shakerbaby wrote: »

Don't worry it's well known Scotland lags behind the indices. :beer:

Anymore than LR?

You can see here they have May's figures released
http://www.ros.gov.uk/professional/eservices/land_property_data/lpd_stats.html

greggymagic

All this !!!! about whether house prices will be higher or lower in x amount of years is just people on both ends of the scale thinking that they and they alone deserve the best deal!! Of course that's human nature but to really really obsess about it? Come one that's just silly.

At the end of the day if you want to buy a house and you can afford one then buy a house!! If you don't then don't buy one. No one is going to force you.

To all those people that think by waiting a few years they're going to be somehow magically better off -it doesn't work like that. This obsession with whether they're going up or down is irrelevant unless you plan to continue the cycle forever and keep selling every time you think that prices are going down. . . What are you going to do when you want to upsize? Wait for the market to peak, sell and then wait for the bottom again? ? ? Unless you're one of the tiny minority that will only ever buy and sell one house in their entire life?

To all those people that think they're somehow Lord of the Manor because their house has gone up by a few quid - well they're just as stupid if they think that anyone in any shape or form gives them any more respect for the fact that their house has gone up and they somehow stumbled in and bought at the right time? Come one people it may make you feel better but everyone else who has to listen to you thinks you're a !!!!!!!

So in conclusion and to sum up :-) Don't man to offend anyone just saying as I see it. . . . Peace people!!

Who's round is it?

X