But, but, but.... they said it was a bull trap.

Dan:_4

mewbie wrote: »

Early days Dan. Ten years of crap. Ten years of easy money thrown in a gamble. It nearly crashed the world economic system. This has a way to go yet mate.

Yes it does have a way to go yet, It will take at least 7-8 years for my house to be worth what it was in 2007.

mewbie_2

Dan: wrote: »

Yes it does have a way to go yet, It will take at least 7-8 years for my house to be worth what it was in 2007.

That's quite a long term prediction 7-8 years ahead Dan. But for your sake I hope it is. And its's just every other house, apart from mine, that drops 50%.

chucknorris

mewbie wrote: »

That's quite a long term prediction 7-8 years ahead Dan. But for your sake I hope it is. And its's just every other house, apart from mine, that drops 50%.

I would actually agree with 7 years to get back to 2007 levels, but not in real terms (ie taking inflation into account, it's quite possible IMO that 2007 in real terms will not be matched in my lifetime)

mewbie_2

chucknorris wrote: »

I would actually agree with 7 years to get back to 2007 levels, but not in real terms (ie taking inflation into account, it's quite possible IMO that 2007 in real terms will not be matched in my lifetime)

Quite a staement. But then you could be 85.

chucknorris

mewbie wrote: »

Quite a staement. But then you could be 85.

I'm 51, but hoping to last more than a bit longer, to me 2007 was a very very high point which in real terms will be very hard to match. I don't think that is being pessimistic at all, as it was such a high, I think other highs (just not as good) could be still viewed as very good performances in the market.

sabretoothtigger

No, you smegging idiot, it was a BULL MARKET....

Its not a bull market just because it keeps going up imo. I think time is more a factor in deciding its real nature

Apart from anything else we have to see how the currency fairs also as a stock price in pounds is a seesaw between the currency worth also

nembot

I would really like someone to explain to me how 80,000 people can lose their job every month and no reals signs of it stopping, yet somehow house prices are rising?

I'm all ears...

headcone

nembot wrote: »

I would really like someone to explain to me how 80,000 people can lose their job every month and no reals signs of it stopping, yet somehow house prices are rising?

I'm all ears...

Market forces will explain it, it`s a little bit more complicated than the last Tory disaster...see that was created by and for them.

shakerbaby

nembot wrote: »

I would really like someone to explain to me how 80,000 people can lose their job every month and no reals signs of it stopping, yet somehow house prices are rising?

I'm all ears...

Too few transactions and the ones going through are expensive properties to cash buyers so all stats are being skewed. Don't believe the hype it is very much BAU for this crash.

HAMISH_MCTAVISH

shakerbaby wrote: »

Too few transactions and the ones going through are expensive properties to cash buyers so all stats are being skewed. Don't believe the hype it is very much BAU for this crash.

Not exactly true.

There were 76,000 sales last month and 55,000 mortgage approvals.

Whilst the ratio of cash buyers to mortgage buyers has certainly increased since 2007, mortgage buyers still outnumber cash buyers by almost 3 to 1, and the gap between mortgage buyers and cash buyers is increasing every month as mortgage approvals rise.

Furthermore, many of the indices are mix adjusted, to avoid precisely the type of skew towards more expensive properties you mention.

And what cash buyers there are should actually be paying LESS for properties, not more, as they are in a far better position to negotiate. In fact the boards are full of stories of people accepting lower offers from a proceedable cash buyer rather than accepting higher mortgaged but possibly non-proceedable offers. Cash buyers drag the average down, not up.