Warning to house buyers

macaque_2

The bulls can filter and spin data all they like but ultimately gravity will always triumph over hot air.

House prices have nowhere to go but down

http://www.guardian.co.uk/business/2010/aug/30/house-prices-first-time-buyers

HAMISH_MCTAVISH

Only a mug bets against rising house prices in Britain. This is a small island that has a rising population, tight planning controls and a tax system that favours property. Demand tends to run well ahead of supply, and that means bricks and mortar always seems a good investment.

First para from your article.

Which then goes on to spend a full page discussing all the reasons why house prices will rise, but concludes with a single paragraph expressing his thoughts that they will fall anyway.

Terrible journalism.

Doctor_Gloom

macaque wrote: »

The bulls can filter and spin data all they like but ultimately gravity will always triumph over hot air.



http://www.guardian.co.uk/business/2010/aug/30/house-prices-first-time-buyers

It just confirms what we all already knew - The 2nd leg of the housing price crash is gathering pace.

HAMISH_MCTAVISH

Doctor_Gloom wrote: »

It just confirms what we all already knew - The 2nd leg of the housing price crash is gathering pace.

So that's what you call three out of the four major indices rising in the last available figures.

Interesting.

macaque_2

HAMISH_MCTAVISH wrote: »

First para from your article.

Which then goes on to spend a full page discussing all the reasons why house prices will rise, but concludes with a single paragraph expressing his thoughts that they will fall anyway.

Terrible journalism.

First para from my post:

The bulls can filter and spin data all they like but ultimately gravity will always triumph over hot air.

chris_m

HAMISH_MCTAVISH wrote: »

Terrible journalism.

Is there any other sort nowadays?
:rotfl::rotfl::rotfl:

Sibley

These weekly battles are getting so boring. One thing for sure. A £200k house in 2007 isn't cheaper to buy now. If you've chucked 3 years rent away waiting for a crash you have a lot to catch up on. Your landlord is happy to be recieving your money. His mortgage will be shrinking whatever happens.

As far as I'm concerned the longer rates stay at this level and tenants keep holding out for a crash the better.

doire_2

Sibley wrote: »

These weekly battles are getting so boring. One thing for sure. A £200k house in 2007 isn't cheaper to buy now. If you've chucked 3 years rent away waiting for a crash you have a lot to catch up on. Your landlord is happy to be recieving your money. His mortgage will be shrinking whatever happens.

As far as I'm concerned the longer rates stay at this level and tenants keep holding out for a crash the better.

Eh? So EVERY single house "valued" at 200k in 2007 isnt cheaper now? They have either risen in price or stayed at 200k? No matter where that house is?

Dirk_Rambo

its ok. sibeley is just having a girrafe. hes a bit of a joker afterall. no harm done

ps. the word on the street [learned by talking to some clever peopel round my way) is that the houseprice falls so far are just for begginers. and the realy bigfalls are round the corner. i just thought id share that with you. usefull info for any new housebuyer

milliebear00001

Sibley wrote: »

These weekly battles are getting so boring. One thing for sure. A £200k house in 2007 isn't cheaper to buy now. If you've chucked 3 years rent away waiting for a crash you have a lot to catch up on. Your landlord is happy to be recieving your money. His mortgage will be shrinking whatever happens.

As far as I'm concerned the longer rates stay at this level and tenants keep holding out for a crash the better.

House prices in my town are most certainly lower than they were in 2007. I am buying a house I definitely couldn't have afforded in 2007 when it would have been at least £20000 more. My mum's inner-city house isn't selling either - overpriced compared with what it was worth in 2007. My friend's inner city London flat is expected to fetch at least £20,000 less than she 'wanted' for it - and far less than it would have sold for in 2007.

Clearly, there are many areas where house prices are lower today than they were in 2007.

I also don't see much mileage in 'waiting for the crash' because I don't buy a house as an investment, but as a home. I couldn't really care less what happens to the market in the short-medium term because I expect to stay in my house for at least 10-15 years. I expect many people feel the same as I do.

nembot

It is round "his way" :rotfl: