How many would buy more than one house if prices fell 60%?

IveSeenTheLight

I've voted yes.
I've bought additional properties without a 60% decrease.
While there wold be caution to see if the market had settled at that price with no further deductions, of course increasing a portfolio for cheaper would be beneficial.

The problem would be extremely affected by the lack of supply in these circumstances as recently seen.
Many people would not be able to afford to sell at 60% deductions in price.

no_fat_chicks

chucky wrote: »

make sure that you filter this one out Brit... but you're wrong for a change....

here's normal - it hit the long term average in Q1 2009.

I didn't realise houses only existed for 31 years, I thought they had been around for hundreds or even thousands of years? What did people used to live in in 1978?

ukcarper

brit1234 wrote: »

But they are insanely overvalued lol, my argument has never changed

If you project the price at 2002 which is about £125k through to now which is £165k that’s a drop of less than 25% so why insist on 50%.

DaddyBear

IveSeenTheLight wrote: »

Ahh, it's a great graph for showing the bubble between 2002 to 2007 where the price is above the trend line, but you obviously want to gloss over the trough where it was below the long term trend.

This is why the trend line is good, it averages out the peaks and the troughs over a 30 year period.

Why do you think I'm glossing over that?? I was merely commenting on the 2002 to 2007 bubble. I'll happily discuss the previous 6 years when it was below trend because if the cycle repeats then we are about to head into that period. 6 years of affordable bliss.

However, as I've posted before, the trend line is complete rubbish. It is exponential meaning that house prices will continue to rise at an ever increasing rate. Complete nonsense.

twadge_face

If (when?) the property market drops 60% from peak it'll be pretty clear that property is an insanely risky investment and not worth the aggro.

What is this "normal" that is spoken of? Sounds somewhat like the "back to normal" of the sacred bubble chart. And what happens next? Capitulation.

This is a very weird poll. It tells us nothing of value about sentiment or the price of property.

doire_2

Blacklight wrote: »

We've seen the 2007 - 2008 crash and prices are rising back to normal levels

Yeah sure they are

hillcats

I voted NO. I just want to pay off my existing mortgage and have complete piece of mind. Why be greedy, you can only live in one place at a time, and we like our house anyway as it's perfect size for the four of us... not too big and not too small.

Blacklight

DaddyBear wrote: »

However, as I've posted before, the trend line is complete rubbish. It is exponential meaning that house prices will continue to rise at an ever increasing rate. Complete nonsense.

You haven't actually looked at that graph have you. I mean really looked at.

FATBALLZ

Blacklight wrote: »

You haven't actually looked at that graph have you. I mean really looked at.

He should have it printed on his loo roll like I do.

Out,_Vile_Jelly

I would just buy the one house, thanks very much. I would spend any remaining cash on vastly more interesting things such as travel, further study, new hobbies etc.

Wasn't it Liam Gallagher who bought a load of fancy sports cars as soon as he got rich and famous, without even having a driving licence? Wouldn't personally want to emulate such dullard behaviour.