House Price Crash

Mrs_pbradley936

To what extent are demographics changing the housing market? By that I mean that it used to be common for 30 somethings to need a large house because they had a several children. Now they have few children and if they have a good income are likely to buy a nice flat and perhaps a holiday home. Houses with four bedrooms and large gardens are not selling well and people of my age looking to downsize are not getting as much for their houses as they once might have done.

Arch-Angel

manhattan wrote:

i love it when people quote "house prices never go down" thats so funny! lol

wibble68, tell him to cut down on the property !!!!!!,it will make him go blind!;)

them shows were probably recorded 2 years ago.

Funny you should say that about when the property channels were recorded - if you're bored (or a bit sad like me! ) have a look at the roman numerals at the end of the credits. The programs on Discovery and the like were first aired between 2-4 years ago. The houses are much cheaper (obviously!) and the rapidly rising property market at the time virtually ensured that the so-called developers made money. Quite an eye opener!

I don't know about the "current" crop of property !!!!!! on the main channels - but some of the programs finish with the "developer" barely making a profit...an indicator of a house price correction?

A_Fool_&_His_Borrowed_Mon

wibble68 wrote:

Had a conversation with a friend who's going to invest in property.

He tried to inform me that:-

1. You can't lose money on property

2. House prices will never go down because the
government will invent new shared ownership
schemes to keep the housing market afloat.

3. House prices will stay permanently high to incomes

I think he's been watching too much property !!!!!! on TV.

& Most likely only seen the housing market in action within the last 10 years

Doubt he would have the same opinion if his experience reached further back though......