First it was dead cat bounce

Really2

nearlynew wrote: »

I did sell at the market value.

But in order to sell, I had to first acknowledge that the market value had dropped.

That's the difference between me and "the rest of the country"

It is not 2007 anymore and the funny money that propped up our phony economy is no longer available to support such high prices.


(cue supply and demand arguments :rolleyes:)

I sold in July 08 for market value I sold at 13% below peak. (so not really the rest of the country)

If you are saying their will be further falls you have passed on a "falling knife"

So not that socialy responsible really is it.:)

I don't knock what you did but playing the further drops are what is needing while selling at current market value hardly fits in with what is "socialy needed"

chucky

nearlynew wrote: »

I did sell at the market value.

But in order to sell, I had to first acknowledge that the market value had dropped.

That's the difference between me and "the rest of the country"

It is not 2007 anymore and the funny money that propped up our phony economy is no longer available to support such high prices

the rest of the country don't usually own more than one home... you did and still do

this wasn't the house you were living in - it was the house that you were letting... so not only have you made money from BTL you've made money out of HPI...

that is two sins in one!! you should go and confess your sins to the holy man!!

ILW

Dan: wrote: »

- so to suggest im waiting for my old man to croak it so I can get my hands on his house is a little far fetched from reality.
.

What, do you mean you're going to kill him?
Shame on you.

the_ash_and_the_oak

ruggedtoast wrote: »

What "they" are hoping will happen is a two tier economy. On one side are the low wage, bad credit and otherwise priced out renters. Unable to amass suffucent equity to ever buy in a limited market.

And on the other side will be a cabal of canny property owners, vicariously ekeing out supply and renting their properties sparingly.

Unfortunately I suspect once the latest boost stops tinkling out of the QE slot machine "they" might be somewhat disappointed at this growing underclasses financial capacity to keep "them" in the manner to which they expect.

Can sort of see something along these lines, but for this to happen it will have to involved continued low transactions. don't think it will manifest itself in form of reduced supply of housing though, would more likely to be continued reduced supply of credit. Either way this would look to be a scenario where buying and selling happened much less frequently than did so in the bubble, people stayed for longer where they were. Ultimately pretty sure that this is a scenario where prices would fall further but affordability would not increase. Can definitely see something like this

dfh

Yes-Hopefully we will never see a return of the double digit HPI seen in the last few years.

mewbie_2

dfh wrote: »

Yes-Hopefully we will never see a return of the double digit HPI seen in the last few years.

Two fingers to double digit HPI.

PasturesNew

When I sold my house, at the peak, average salary there to average house price was about 12x. I was mostly earning about 60% of the average local salary.

If I'd still been earning what I did when I first bought my house, I could have got a mortgage on it... but I had a significant change of circumstances when I'd owned it a year and never recovered.

When I sold it, the price was 16x my own salary.