House market crash!

mixmaster

Yeah I think I'm just going to hold out for a bit, I'm in quite a fortunate position due to being in the forces that the shared house i rent is just short of £40 p.c.m. inclusive of all bills/utilities. It should give me plenty of chance to save up a decent deposit for when the time comes (hopeully soon lol)

asandwhen

F_T_Buyer wrote:

Do you realise there is a site dedicated to this? https://www.housepricecrash.co.uk

I agree prices will fall, and they should be now if it wasn't for the interest rate cut last August. All it has done is push the fundermentals more out of kilt, meaning any crash would be far harder.

But still, it does amaze me how the media is spinning away like crazy. Just like the BBC reported the RICS survey after the interest rate cut. And how the banks are lending more and more recklessly, including sub prime lending where no one previously would of even dared suggest actively targetting lending to this group.

But with debt growth way over 10% a year, and wage growth 4% a year... you know something's up. Now with joblessness well over 5million, inflation brewing under the surface, bankruptcies, bad debt, company failures, repossessions... the list goes on.

Oh, and it will take around 5+ years to the bottom...

I think you are right about the 5 years to bottom bit but after 5 years the bottom will probably be a current levels ish give of take 5%

I can see where you are coming from with this spin of the media but some of the figures you have quoted here are also media spin (5 million joblessness news of the world today)

No body really knows for sure but would say you are better off saving for the next few years and getting on at current level in a few years time when you have saved enough - I wouldn't hold off for a crash because it may never happen

libitina_2

Try also https://www.globalhousepricecrash.com.
House price comparison sites can let you see whats happening in your local area. http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/houses.stm is another good one.

F_T_Buyer

asandwhen wrote:

I think you are right about the 5 years to bottom bit but after 5 years the bottom will probably be a current levels ish give of take 5%

I can see where you are coming from with this spin of the media but some of the figures you have quoted here are also media spin (5 million joblessness news of the world today)

No body really knows for sure but would say you are better off saving for the next few years and getting on at current level in a few years time when you have saved enough - I wouldn't hold off for a crash because it may never happen

Saying it twice really puts your point across.

asandwhen

I have no idea how that happened - think its because I was pressing back - sorry guys

ps nice sarcasm

gallygirl

House prices will rise 20% in the next 2 years.....

If I keep saying this at monthly intervals eventually it will come true - and then I can say 'I told you so'.

Which is exactly the scenario with the price crashes - it has to come true eventually, but I've been reading it on here since I joined over 2 years ago, and I'm still waiting for it to happen.

Discuss.......

F_T_Buyer

ali007 wrote:

House prices will rise 20% in the next 2 years.....

If I keep saying this at monthly intervals eventually it will come true - and then I can say 'I told you so'.

Which is exactly the scenario with the price crashes - it has to come true eventually, but I've been reading it on here since I joined over 2 years ago, and I'm still waiting for it to happen.

Discuss.......

I dunno, but you've got the best avator on this site.

If interest rates went down now, I would fully expect prices to rise on the back of it. Just like in Aug 05.

richgirl

markets tend to overextend in both extremes, so, since houses have gone much higher than anyone could an imagined and for far longer, its entirely likely the same will occur when they decline.

cuffie

Where did I read somewhere that someone has "predicted (?!)" that house prices will double by 2011??!! xx

Jim_B_3

Daily Express, I expect. It was three a.m., the Diana Desk still couldn't come up with anything other than "Did she fake her death to marry Elvis?" and the editor said "!!!! it, just say house prices are going to double."

Edit: Goddamn censorship.