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Debate House Prices


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House prices could fall by 25% amid new lending rules

mystic_trev
mystic_trev Posts: 5,434 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
in Debate House Prices & the Economy
THE housing market is on the precipice of a double dip as experts warn that new mortgage affordability rules could send house prices tumbling.

http://news.scotsman.com/news/House-prices-could-fall-by.6425428.jp
«134567

Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    That is quite bullish, real house prices reaching their 2007 peak again in 2020 and a 50% chance that it will be before then, 30% chance by 2015.
    That slump could be prolonged, PricewaterhouseCoopers has warned. It said there was a 70 per cent chance that the real cost of a property in 2015 would be below that in 2007 and a 50 per cent chance that it would take until 2020 for the market to surpass its previous peak.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    StevieJ wrote: »
    That is quite bullish, real house prices reaching their 2007 peak again in 2020 and a 50% chance that it will be before then, 30% chance by 2015.

    If THAT's bullish, then nearly every single article posted on here is bullish.
  • Batchy
    Batchy Posts: 1,632 Forumite
    Im buying at 25% lower than a early 2007 transaction on less disirable plot, so from peaks of 2008 id say thats about 30-35% down.

    Good time for me too.

    If prices fall, then buying my next place will be cheaper then too... cant wait, thats if I ever move, as this is pretty much perfect!
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    This is interesting. I 'could' spend the rest of the day doing useful household chores and reading improving books. Or I could go to the pub...
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Chaos_A.D. wrote: »
    Also a 50% chance that it won't, not great for the over leveraged who bought at or near peak.

    Don't think it says that, I read it as 50% chance that it will take until 2020 and 50% chance it will be before icon7.gif as I said quite bullish.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Graham_Devon wrote: »
    If THAT's bullish, then nearly every single article posted on here is bullish.

    I think Really will be along to have a word with you soon icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • mitchaa
    mitchaa Posts: 4,487 Forumite
    Batchy wrote: »
    Im buying at 25% lower than a early 2007 transaction on less disirable plot, so from peaks of 2008 id say thats about 30-35% down.

    Good time for me too.

    If prices fall, then buying my next place will be cheaper then too... cant wait, thats if I ever move, as this is pretty much perfect!

    35% down on what?

    2007 peak was England and Wales
    2008 peak was Scotland so I suspect you are a Scottish buyer?

    Please show me which area in Scotland has dropped 35% in the last 2yrs? Scotland has been stagnating now for the last 2yrs or so.

    We are not too far off 2007 peak values now,what 5-10%? I suspect we will be back up there before 2015 and almost definitely well before 2020:rotfl:

    Saying that, the housing boom pre 2007 will never ever happen again in our lifetimes so anyone expecting to make gains of 3-400% in the space of 5-10yrs or so are in for a rude awakening.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mitchaa wrote: »
    We are not too far off 2007 peak values now,what 5-10%? I suspect we will be back up there before 2015 and almost definitely well before 2020:rotfl:

    I'm laughing too....... but for totally different reasons.
  • Exocet
    Exocet Posts: 744 Forumite
    StevieJ wrote: »
    That is quite bullish, real house prices reaching their 2007 peak again in 2020 and a 50% chance that it will be before then, 30% chance by 2015.
    Wonder what the opposite of a 'quick buck' is?
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Exocet wrote: »
    Wonder what the opposite of a 'quick buck' is?

    Let me have a guess, slow buck?
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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