House prices set to crash from this point on

brit1234

House prices set to crash from this point on

I think that everyone believes interest rates will go up this year. Everyone knows unemployement is high and getting higher. Stamp duty is back and wages are being increasingly frozen. Now with taxes going up I believe prices will resume the crash. Asking prices have been down month after month and now the other figures are flatlinning or going down. There is a bear resurgance and now the media are taking notice of the basic economics.

Below is a link to what I will think will be the first of many bears on the news debating the continuation of the housing crash:

http://armstrong-davis.com/jonathan-davis-media/235/

nollag2006

Bear resurgance?



Even the most bearish of posters are scrambling to get back into the market:
http://forums.moneysavingexpert.com/showthread.html?t=2136639

Looks like you've missed the boat on house prices brit.

Never mind - hang on another 15 years, and there's bound to be another one along then

:rotfl::rotfl:

HAMISH_MCTAVISH

Johnathon Davis?:rolleyes:

Seriously..... You come on here posting links to the former official HPC.co.uk spokesman's website, and expect us to take it seriously?

He STR-ed in 2002..... right before house prices doubled.:eek:

And has been bitter, angry and shouting about it to anyone who will listen ever since.

The guy has a proven track record of being more wrong than capital economics...... And that takes real work.

Oh, by the way, history tells us house prices stayed at bottom for just one month before rising 10% in 10 months..... You may want to change that signature.

HammerSmashedFace

nollag2006 wrote: »

Bear resurgance?



Even the most bearish of posters are scrambling to get back into the market:
http://forums.moneysavingexpert.com/showthread.html?t=2136639

Looks like you've missed the boat on house prices brit.

Never mind - hang on another 15 years, and there's bound to be another one along then

:rotfl::rotfl:

Are you serious ?, in many areas and on many properties things are no different than last year selling wise (20% off peak easily). Add to this the temporary polices that have helped prices tread water on the back of low transactions in the last year, and what do we think the outcome will be ?

You and so many other people believe 97-07 can be repeated as far as growth and prosperity goes, you talk of 15 years time as if things will be the same or better than today. Here is just one nugget for you, there are many others.

In 2022, Norway will no longer be exporting it's gas reserves, it will be keeping it's dwindling supplies for itself, what do you think this will do for the housing market, especially in the north, when the costing of heating your home will cost you half of your monthly salary ?

I love the absolute blind faith that people have that just because things were good in the last 50 years they will somehow be even better in the next 50. Read up and you too will realise just how deluded much of the population is.

Dan:_4

Cheers brit, i needed a good laugh this morning.

HammerSmashedFace

HAMISH_MCTAVISH wrote: »

Johnathon Davis?:rolleyes:

Seriously..... You come on here posting links to the former official HPC.co.uk spokesman's website, and expect us to take it seriously?

He STR-ed in 2002..... right before house prices doubled.:eek:

And has been bitter, angry and shouting about it to anyone who will listen ever since.

The guy has a proven track record of being more wrong than capital economics...... And that takes real work.

Oh, by the way, history tells us house prices stayed at bottom for just one month before rising 10% in 10 months..... You may want to change that signature.

After looking at your signature Hamish, I have a serious question. If those figures are to be believed (and I'm not disputing them), how can they be sustained on the back of shrinking disposable incomes, QE reversal, low rates that will not last, huge public sector cuts, inflation in energy costs etc....

I'm not denying Nationwide's figures as they see them, but have no idea how going forward they can possibly be sustained. For growth in those figures you will need real growth in the economy, the fundamentals after Gordon stops spending on his last credit card are absolutely terrible.

Harry_Powell

HammerSmashedFace wrote: »

In 2022, Norway will no longer be exporting it's gas reserves, it will be keeping it's dwindling supplies for itself, what do you think this will do for the housing market, especially in the north, when the costing of heating your home will cost you half of your monthly salary ?

Hi Ad, can you supply a link to this please? I tried a quick search on google but didn't come up with anything.

Thnxs.

Jonbvn

HammerSmashedFace wrote: »

Are you serious ?, in many areas and on many properties things are no different than last year selling wise (20% off peak easily). Add to this the temporary polices that have helped prices tread water on the back of low transactions in the last year, and what do we think the outcome will be ?

You and so many other people believe 97-07 can be repeated as far as growth and prosperity goes, you talk of 15 years time as if things will be the same or better than today. Here is just one nugget for you, there are many others.

In 2022, Norway will no longer be exporting it's gas reserves, it will be keeping it's dwindling supplies for itself, what do you think this will do for the housing market, especially in the north, when the costing of heating your home will cost you half of your monthly salary ?

I love the absolute blind faith that people have that just because things were good in the last 50 years they will somehow be even better in the next 50. Read up and you too will realise just how deluded much of the population is.

How do you have time to post, and continue digging your bunker? BTW, how is your pasta mountain.;)

System

HammerSmashedFace wrote: »

After looking at your signature Hamish, I have a serious question. If those figures are to be believed (and I'm not disputing them), how can they be sustained on the back of shrinking disposable incomes, QE reversal, low rates that will not last, huge public sector cuts, inflation in energy costs etc....

I don't think anyone expects them to be sustained.

HammerSmashedFace

Harry_Powell wrote: »

Hi Ad, can you supply a link to this please? I tried a quick search on google but didn't come up with anything.

Thnxs.

Not from the internet Harry, I read books on the subject mainly (lots of them), so can't remember for sure of the source. However the last books I read was 'The Long Emergency' by James Howard Kuntsler and 'The Party Is Over' by Richard Heinberg.

I'm almost certain the information you are looking for will be in one of those. However if you really want to get to grips with humanity's downfall read Twilight In The Desert by Matthew Simmons, written in 2004, his analysis is based on 20 years worth of official documents from Saudi Aramco and the subjects covered are almost prophetic, scarily so.

HammerSmashedFace

Jonbvn wrote: »

How do you have time to post, and continue digging your bunker? BTW, how is your pasta mountain.;)

I booked three weeks holiday after Christmas, so have plenty of time for digging, posting on here and shopping for pasta.:D