Looking back to 2007

nwflyboy

You don't worry negative changes might ever come to your area, in a similar or eventually worse impact on house values as your friend has "suffered"?

Yes I do.

A think-tank in 2008 said central government money to support Liverpool and other areas should be cut off, and residents encouraged to move down south.

Can you qualify this?

Housing is even tighter down there than up here!

:rotfl:

nwflyboy

Can you qualify this?

and is a think tank thoughts, Government policy? Eerrrrrrrrrrrrrr NO!!

dopester

nwflyboy wrote: »

Yes I do.

Can you qualify this?

Housing is even tighter down there than up here!

:rotfl:

The 2 links below. Cameron distanced himself from it, but he, and others, may come to realise the costs of trying to maintain the old ways are too high.

http://www.dailymail.co.uk/news/article-1044155/Cameron-blasts-Tory-think-tanks-abandon-poverty-stricken-north-south-insane.html

http://news.sky.com/skynews/Home/Politics/Policy-Exchange-Think-Tank-Says-People-In-Liverpool-Manchester-And-Newcastle-Should-Move-To-London/

Smart housing solutions, although much smaller that traditional housing, could be found. There are growing numbers of people digitalising and simplifying their lives too (I want to take a similar approach but not so extreme). Requiring less space.

But this trend in digital technology is now influencing some to get rid of nearly all of their physical possessions - from photographs to furniture to homes altogether.

16 August 2010
BBC News - Cult of less: Living out of a hard drive
By Matthew Danzico BBC News, Washington

dopester

Graham_Devon wrote: »

Theres not that many business's where you generally make an offer lower than the advertised price though.

You should come to some of the car-boot sales around here. Buyers aren't slow to drastically barter down on the sellers initial asking price in many instances. And many sellers are grudgingly accepting what they're generally being offered.

Went to Tunisia as a kid, and at the market really wanted a rattle-drum. At least back then, the market traders used to begin at a real high price with tourists, but could be bartered right down to settle on a much fairer price.

I used to loved that rattle drum toy. I'd like to use it now to annoy an EA, as a protest, when they say something stupid like "It's all about supply and demand."

You ask what the price is then you are expected to barter down.

House sellers today are the equivalent of those Tunisian market traders. Asking way too much for their homes hoping to find one of the rarer buyers who is still prepared, or has the financing, to pay old world boom prices. Against a background of tightened mortgage finance and changed economic circumstances, and so very few are selling each month.

Would be buyers of houses in the UK, especially FTBs, need to begin adopting the same tough bartering stance with house sellers.

Sibley

House sellers today are the equivalent of those Tunisian market traders. Asking way too much for their homes hoping to find one of the rarer buyers who is still prepared, or has the financing, to pay old world boom prices. Against a background of tightened mortgage finance and changed economic circumstances, and so very few are selling each month.

Would be buyers of houses in the UK, especially FTBs, need to begin adopting the same tough bartering stance with house sellers.

It's all very well saying that but people do not want to lose money on their house. They won't take the offers simple.
That is why all the bears are still without a property. If they are such experts on the housing market how come they haven't got their discount place?

dopester

Sibley wrote: »

It's all very well saying that but people do not want to lose money on their house. They won't take the offers simple.
That is why all the bears are still without a property. If they are such experts on the housing market how come they haven't got their discount place?

Because the BoE slashed interest rates to historic lows, and so many mortgage debtors are on very low interest SVRs + interest only deals, anti-repossession pressure.

A lot of mortgage debtors (100,000+ ?) on SMI (the rate of which is at least being reduced) and other schemes.

Because too many home-owners, those looking to sell especially, haven't fully understood just how under siege values are? (A complicated and prolonged siege maybe.)

What with mortgage supply lines starved compared to the flowing levels which pushed values up in the first place. And reluctance from buyers over-extend their mortgage debt positions anyway.

That it's a matter of waiting for a point where increasing numbers of besieged sellers realise they have to breakout. And to do so they have to lower their asking price in order to sell, or accept a lower offer, which in turn impacts on the market value of other owners homes. Many sellers will do alight even if they sell for considerably less than peak value.

RenovationMan

dopester wrote: »

Because the BoE slashed interest rates to historic lows, and so many mortgage debtors are on very low interest SVRs + interest only deals, anti-repossession pressure.

A lot of mortgage debtors (100,000+ ?) on SMI (the rate of which is at least being reduced) and other schemes.

Because too many home-owners, those looking to sell especially, haven't fully understood just how under siege values are? (A complicated and prolonged siege maybe.)

What with mortgage supply lines starved compared to the flowing levels which pushed values up in the first place. And reluctance from buyers over-extend their mortgage debt positions anyway.

That it's a matter of waiting for a point where increasing numbers of besieged sellers realise they have to breakout. And to do so they have to lower their asking price in order to sell, or accept a lower offer, which in turn impacts on the market value of other owners homes. Many sellers will do alight even if they sell for considerably less than peak value.

Your only looking at this from one side though Dopester, there are also people who are desperate to buy and will pay close to asking price for the right property. I'd also imagine that the majority of house buyers are also house sellers and so they all have a VI in maintaining house prices.

I got a 5x salary loan, not because I have an honest face but because I was an established home owner with a lot of equity. I dont think I'm unique in this and feel that more people are unaffected than affected by tighter mortgage lending.

I do put a caveat on that and state that I am only speaking from my own personal standpoint and observations. Just like everyone else, but at least I have the sense to see that

Radiantsoul

If you had decided not to buy in 2007 and held your money in cash(and rented instead) then you would not have made massive gains.

House prices are perhaps 5-10% lower and your cash would have returned another 5-10%. My feeling is that a loss of 10-20% over three years is not massive on an asset class that has large transaction costs and is normally a long term type of purchase.

The other factor is that you might have found that the disappearance of finance might have meant it is harder to buy now. I am not suggesting houses are a great investment, but for someone looking to buy a house to live in over a period of time there is probably little to regret - providing you are not forced to sell.

nicko33

dopester wrote: »

Went to Tunisia as a kid, and at the market really wanted a rattle-drum. At least back then, the market traders used to begin at a real high price with tourists, but could be bartered right down to settle on a much fairer price.

how often would they sell at a loss? would that be a fair price?

doire_2

neverdespairgirl wrote: »

Where is your way, nollag?

Cloud cuckoo land