Get ready for the housing crash part II

Thrugelmir

Really2 wrote: »

That is the same for any time not just a recession.

But we've never had such low interest rates with correspondingly high levels of debt.

Really2

Thrugelmir wrote: »

But we've never had such low interest rates with correspondingly high levels of debt.

The market will find its level, I don't know where that is. But some of the point's in the article are poor as they were the same pointer's for this year.

Thrugelmir

Really2 wrote: »

The market will find a its level. I don't know where that is but some of the point's in the article are poor as they were the same pointer's for this year.

Agree. Everybody is expecting instant answers but only time will tell what impact the financial crisis has actually had. We will have passed the bottom before realising it , as we're in for a choppy ride. Its not if people are going to stop buying houses entirely ay any time.

the_ash_and_the_oak

Really2 wrote: »

True but if you did go to IR I think housing benefit covers you for 2 years.

That gives plenty of time to stop being a "forced seller" and could be part of the reason why prices have not fell this year.

Yes - actually agree w this totally. Think there are v few forced sellers (not a bad thing) and I don't see this changing any time soon

Conrad

It's definetly bottomed out, at least in prosperous areas. If a Banking collapse and long stare into the abyss did'nt put people off, now't will.

StevieJ

carolt wrote: »

Not my words, read the article:

http://www.lovemoney.com/news/the-property-ladder/get-ready-for-the-housing-crash-part-ii-3994.aspx?source=1000417

Cliff the early STR must be getting a little panicky

HammersFan

carolt wrote: »

Not my words, read the article:

http://www.lovemoney.com/news/the-property-ladder/get-ready-for-the-housing-crash-part-ii-3994.aspx?source=1000417

Great comments at the end of the article. A mixture of dismantling of D'Arcy arguments and character assasination.

Carol, you'll have to up your game and find better than this to provide you with proper 'good news'.

lemonjelly

Thrugelmir wrote: »

Has this crash even ended yet?

So bound to be ups and downs for a lot longer yet.

The exact same point I've been wondering recently, especially given one or 2 threads I've read this morning.

Really2 wrote: »

True but if you did go to IR I think housing benefit covers you for 2 years.

That gives plenty of time to stop being a "forced seller" and could be part of the reason why prices have not fell this year.

AFAIK there isn't a time limit of 2 years, provided you continue to meet the qualifying criteria for Income Support/JSA/ESA which passports you to interest relief, you will continue to get that help. There are caps on what interest payments will be met though, & it doesn't address the issue around capital repayments.

Thrugelmir wrote: »

But we've never had such low interest rates with correspondingly high levels of debt.

The key point this IMO. I've spent years wondering when the personal debt issue will come home to roost. I'm wondering if the seeds are being sown now (credit restrictions) & it'll get worse as IR's rise.

Kenny4315

Another few months at this rate of recovery and we'll be heading for a boom period as the sheep in rented hoping to make a killing by selling then buying later start to PANIC, and start trying to buy whatever the cost.

Still looking to buy carolt or have you bought yet ?

abaxas

Kenny4315 wrote: »

Another few months at this rate of recovery and we'll be heading for a boom period as the sheep in rented hoping to make a killing by selling then buying later start to PANIC, and start trying to buy whatever the cost.

Still looking to buy carolt or have you bought yet ?

What wonderful country we live in.

The word 'PANIC' and human need should never be in the same sentence.