The “crash” is over – now how long before prices fully recover?

Conrad

Bears hugely underestimate the amount of wealth out there. Most customers I speak with that were in danger of getting into trouble, simply fell back on funds from parents / grandparents.

In the last crash there was'nt nearly as much wealth, afterall, we have masses of retired people that have seen thier homes triple in value, so a notional temporary dip is meaningless to them.

carolt

Never ever ever

michaels wrote: »

Just sold mine (to an FTB) at 2007 peak for the road. Asking price was a bit higher than peak as the markt currently prices in a small discount.

I thought on your own thread last week you'd decided not to sell?

So have you changed your mind, then?

mewbie_2

Some time after 2011

Do you think the end of stamp duty, NI increases, higher taxes, higher base rates, higher unemployment, double dip recession. VAT increase will help the housing market?

And if any of those arguments don't appeal - how about the simple inescapable fact that 2007 was the top of a crazy house price bubble fueled by easy cheap credit, liar loans and a mass delusion.

carolt

Never ever ever

And let us not forget that nollag was the man telling us at the end of 2007 that prices were about to SHOOT! up into the stratosphere the following year.

Which turned out to be sooo accurate (well, only 20%+ out...). :rolleyes:

b0rker

lethal0r wrote: »

ages off. most of the dullards who think they're rich because theyve got a house way underestimate the effect of base rate being 1%.

I think I am rich because I have a house.

The reason has nothing to do with equity.

Why do people always assume that the only wealth that a house creates is equity?!?!?

I am better off owning a house because I pay less for this house than it would cost me to rent it. I can save that money. Therefore I am better off than I would be renting. In fact I pay half of what it would cost to rent it if you only consider interest payments and not the repayment part of the mortgage.

The best bit is that I am on the SVR which means I can pay down the my mortgage in large instalments, therefore making the monthly payments even lower for the future. In fact at some point I will be paying so little for my mortgage I will be able to pay it with the interest on my pretty average savings. Bought in 2007 for £105K. We are now down to £74K after only 2 years. Saving to pay off another BIG lump sum and reducing our monthly payments even further.

Meanwhile the doom and gloom brigade on here will still be waiting for the bottom...

P.S. If I had lost my job I might not be so smug but then I suppose that goes without saying...

carolt

Never ever ever

What could you buy in 2007 for 105K?

Is that something to be 'smug' about?

I doubt there are many people on here who couldn't have afforded 105K two years ago, but most of us didn't fancy living in a shed.

purch

Some time after 2011

Can I change my answer ??

I don't like being part of the majority :eek:

nembot

You missed out "not" from the name of the poll.

nollag2006

Might be a bit up and down, but should be back by the end of 2010

Great post br0ker, and very true.

:T

b0rker wrote: »

Meanwhile the doom and gloom brigade on here will still be waiting for the bottom...

That bird has well and truly flown.

Bottom searchers, take note !

:rotfl::rotfl::rotfl::rotfl:


House prices are up dramatically since Feb, and showing no sign of falling back again, not while inflation and interest rates are low and the economy continues to emerge from recession.

mewbie_2

Some time after 2011

What do you make of your poll results Nollag?