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MSE news 'House price crash is over'
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Its far from over, the economic situation is horrendous. People buying now are in for a shock next year.
Lending critera does not support prices and they are still highly overvalued. If you think that these 0.5 interest rates are a good thing for buying you are in for a shock.
Hi Brit.
When are you going to change your signature?
Your prediction is well out mate.
:beer:0 -
House prices bottomed out end of last year. Then they stabilised (as predicted) and are now back on the up (as predicted).
The crash never really happend - just few overprived properties were corrected. That's all.
in a way sorta agree w this. massively reduced transaction numbers have postponed further falls. no one really selling or buying so price discovery somewhat awry. Looks to me more like the crash only partially happened - could be a while before the next 20% down imoPrefer girls to money0 -
Its far from over, the economic situation is horrendous. People buying now are in for a shock next year.
Lending critera does not support prices and they are still highly overvalued. If you think that these 0.5 interest rates are a good thing for buying you are in for a shock.
50% drop by Christmas 2009!!!! :rotfl:0 -
The thing that bothers me is that MSE Guy doesn't seem to have understood the material he's writing about. He says
Lack of supply restrain HPI?????? In the very next paragraph he quotes the bloke from RICS as sayingOther commentators are also more cautious than Boulger, saying the lack of supply of properties could restrain house price growth.Rics believes the recent support for prices is to a large extent a sign of a lack of supply. This could remain an important crutch for the market in the near term.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
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There are too many rich people and too many people with lots of capital and equity around to allow a full crash to happen. Any sniff of that happening and they would be snapped up by these people trying to make more money. I don't personally think that properties are that far out of the reach of normal people. I'm a FTB and managed to buy my first 2 bed flat for £180k this week. Put down a £30k deposit and I'm borrowing 3.75x salary. Fair enough this is in London, but up north lower salaries are reflected in much lower asking prices. People that can't afford a flat in their local area would appear to be spending too much on a frivolous lifestyle and not on the important things, like a roof over your head.
Based on the above, your income is £40K. That puts you comfortably in to the top 10% earning percentile in UK salaries.
Therefore 90% of employees in the UK earn a lot less than this...so whilst you are clearly in a comfortable position based on multiples. It is not representative of the country as a whole.
Out of curiosity, at what rate did you agree the £150K mortgage?0 -
Based on the above, your income is £40K. That puts you comfortably in to the top 10% earning percentile in UK salaries.
Therefore 90% of employees in the UK earn a lot less than this...so whilst you are clearly in a comfortable position based on multiples. It is not representative of the country as a whole.
He clarified tis by saying asking prices were lower elsewhere than in London.
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
We are in a rarefied environment - low housing stock, minute quantity of transactions, historically unprecedented low interest rates that cannot last.
Anyone who thinks they can extrapolate the future of house prices from the bit of recent price rise news is braver than I!0 -
First rise in prices detected after a long time =
HOUSE PRICE CRASH IS OVER, PRICES CAN ONLY NOW RISE AND RISE FOR EVERMORE!
Well I am a FTB and i am not going to be scared into jumping onto the Property ladder yet ... This is nothing more than stupid ramping by people with a vested interest ..0 -
£40k in London is below average full time earnings is it not?Based on the above, your income is £40K. That puts you comfortably in to the top 10% earning percentile in UK salaries.
Therefore 90% of employees in the UK earn a lot less than this...so whilst you are clearly in a comfortable position based on multiples. It is not representative of the country as a whole.
Out of curiosity, at what rate did you agree the £150K mortgage?0 -
£40k in London is below average full time earnings is it not?
Maybe if you take the mean average with all those city peoples wages. However the vast majority of Londons normal people are below £40K.;)
These low interest rates are just delaying the problem, I wonder if someone wants it delayed to after the next election. House prices will return to normal values, the number of cash buyers are running out no matter now much the vested interest groups talk the market up.
PS we have the banking yearly results next week, that will be a good indication of the way mortgage lending will go. Watch out for their savings and property loses.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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