Is that it then, is it all over?

Cleaver

bluey890 wrote: »

Is what over? It means something different to whoever reads it...
I think it's one of those silly phrases.

True. In my case I mean that I don't think we're out of economic turbulant times and I think we'll see another drop in house prices that takes us below the 'bottom' in Feb 09. Only just below though, none of this 50% malarkey.

Cleaver

bluey890 wrote: »

It is sold to rent posters like PN & Ad that I feel sorry for.
If there were a few less bears on here, they might not have sold their home, and had the government cover their mortgage debt at 6% of the outstanding balance (assuming they're unemployed).

I don't believe Ad sold to rent and he's also in employment. As far as I know.

God rest his forum-soul.

bluey890

Cleaver wrote: »

I don't believe Ad sold to rent and he's also in employment. As far as I know.

God rest his forum-soul.

I thought he had sold a previous house and was looking to buy in a couple of years.
I may be mistaken. It is difficult keeping track of so many posters.

stonethrower

I sold to rent and don't regret it in the slightest house prices have fallen approx 15% and my money through investments have gone up by nearly the same so if my old house was up for sale I could buy it outright, but I think there is further to fall.

bluey890

Come to think of it, even if they are in employment, it was probably better to secure a decent long term mortgage deal whilst the offers were available.
For example; trackers have gone from below base rate to two percent of more above.

bluey890

stonethrower wrote: »

I sold to rent and don't regret it in the slightest house prices have fallen approx 15% and my money through investments have gone up by nearly the same so if my old house was up for sale I could buy it outright, but I think there is further to fall.

In my opinion it is the poor quality accomodation which has fallen in value.
The better homes appear to be holding their price and selling well.

mewbie_2

Dan: wrote: »

2009 has been a disaster for the majority of the forum, maybe you should have listened to the few.

Not really. I steadily reduced my property empire beginning of 2007, cashing in the money for the next move. Now sat on a cash mountain, (apart from treating myself to a Bentley on the scrappage scheme) waiting for the right time to rebuild my BTL and development portfolio. Expect to become a multi millionaire by the time I'm 25.

bluey890

mewbie wrote: »

Not really. I steadily reduced my property empire beginning of 2007, cashing in the money for the next move. Now sat on a cash mountain, (apart from treating myself to a Bentley on the scrappage scheme) waiting for the right time to rebuild my BTL and development portfolio. Expect to become a multi millionaire by the time I'm 25.

You invented a time machine too...? Henceforth I shall know you as mr awesome.

stonethrower

bluey890 wrote: »

In my opinion it is the poor quality accomodation which has fallen in value.
The better homes appear to be holding their price and selling well.

Thats why sales figures are very low

chucky

brit1234 wrote: »

"Is that it then, is it all over?"

NO, far from it.

Sorry but can't any one remember the reasons for the credit crunch? They are still well in play. The debt is still there, ok some of it may have a value but it is still round our necks. Sub prime was only one third of the US housing sectors problem, there are the other 2 classfications which are being hit and the debt rissing.

Low interest rates just delay the problem from naturally correcting, we have a long way to go yet. If you doubt this then look at the UKs debt mountain in comparison with savings. We are far from healthy.

why the big red font - do you want to be noticed and no-one is listening...

50% drops by Christmas 2009 :rotfl: