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

dopester

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.

Where is Chucky? If he doesn't show up today, it'll be 10 days since his last post (above). At least he totally disagrees with me in a respectful way, and normally puts over his own position on the economy, house prices and BTL discussion in a well reasoned manner. Some of the bulls have become increasingly pushy and noisy in his absence I think.

dopester

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

I'm not sure I'd think even 1 house for a home represented good value with 60% off.

That'd take the house I'm in at the moment down to just 2001 prices, back when there were well paid jobs a plenty, ever increasing credit, a full-on boom taking hold.

Too many people in much worse financial positions with much shakier job prospects than they were in 2001.

ukcarper

If average house prices dropped 60% the mortgage on an average house would be about £100 per week what are council rents.

beingjdc

I don't know. If prices dropped 60% without it causing me to lose my job, obliterating my savings, etc, I would either buy a reasonably nice house in a decent bit of London - say £200k for the kind of thing that's £500k today, or else I would move back to the Midlands town where I used to live, where I would be able to buy two 2-bed flats for cash, and shift down a gear for a while.

fc123

dopester wrote: »

Where is Chucky? If he doesn't show up today, it'll be 10 days since his last post (above). At least he totally disagrees with me in a respectful way, and normally puts over his own position on the economy, house prices and BTL discussion in a well reasoned manner. Some of the bulls have become increasingly pushy and noisy in his absence I think.

I am 99% sure he's on holiday.

treliac

dopester wrote: »

Where is Chucky? If he doesn't show up today, it'll be 10 days since his last post (above). At least he totally disagrees with me in a respectful way, and normally puts over his own position on the economy, house prices and BTL discussion in a well reasoned manner. Some of the bulls have become increasingly pushy and noisy in his absence I think.

fc123 wrote: »

I am 99% sure he's on holiday.

Unless he's another one who can't log on any more?

Graham_Devon

treliac wrote: »

Unless he's another one who can't log on any more?

It's great! I can say such stuff as "I like ladies" now without it being twisted into

C: "Ha, graham said he likes ladyboys"
G: Where did I say that?
C: You said you like ladies. Ladyboys could be classed as ladies, therefore you like ladyboys
G: !!!!!! are you on about
C: You don't understand....again.
G: I do understand, but tell me how I said I liked ladyboys
C: No point, you won't understand, you never understand.
G: Come off it, you have twisted again
C: well done on ruining yet another thread with your chewybacca technique.

Pobby

I`m in a bit of a strange situation regarding this. Living in a city where we are just a bit under the average price I could go and spend the savings on a couple of flats at little or no mortgage.

That poses a big problem. Firstly I don`t want to be a buy to let landlord. I was of a generation, which in my opinion, had it far easier when it came to buying. I like home ownership and I would like to see it for everyone who makes it their choice and is prepared to work for it. Also I don`t want the bother of it.

Having said that, at todays prices, the return on a couple of flats would be in the region of £900 per month. Now of a certain age, the pension provision has been slowly eroded. Lower annuities and Gordons tax raid. Right now, my savings are doing nothing and with business where it is, that sum of money coming in would be more than useful.

Anyway, there is no way. Misses P is not of the mind to do it. So that`s that.

treliac

Graham_Devon wrote: »

It's great! I can say such stuff as "I like ladies" now without it being twisted into

C: "Ha, graham said he likes ladyboys"
G: Where did I say that?
C: You said you like ladies. Ladyboys could be classed as ladies, therefore you like ladyboys
G: !!!!!! are you on about
C: You don't understand....again.
G: I do understand, but tell me how I said I liked ladyboys
C: No point, you won't understand, you never understand.
G: Come off it, you have twisted again
C: well done on ruining yet another thread with your chewybacca technique.

:rotfl: Maybe you should keep your fingers crossed for a bit longer Graham - just in case! :rotfl:

fc123

treliac wrote: »

Unless he's another one who can't log on any more?

His profile says he last logged in on Friday 4.50pm. Maybe nothing caught his attention....not that I am stalking or anything heaven forbid.:D