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Debate House Prices


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House prices fall in every region of UK...Even London succumbs to mortgage drought

245

Comments

  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    tawse57 wrote: »
    How long would it take for someone on the average wage to earn 15K tax-free?

    .

    That's about £625 per month what’s the average rent
  • phil_b_2
    phil_b_2 Posts: 995 Forumite
    tawse57 wrote: »
    Do you have any idea how much 15K ACTUALLY costs over a 25 year mortgage?

    How much can we expect the avergae house and wage to have increased in that 25 year period?
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    MikeMaloney wrote: »
    Ha ha yes very funny.

    You were joking werent you?

    So Graham that EA is a member of the 80% club by 2015? And he doesnt want to be alarmist?

    Without wishing to be alarmist, it's difficult to see how property won't have plunged at least 20% on average by the end of next year, and by at least another 60% by 2015.
    - Johnny, Birmingham, 27/9/2010 7:33


    .

    That should increase demand, as you would be able to buy a two-bed terrace in Surrey with a mortgage of less that 3x joint minimum wage.
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    HOUSE_PRICE_CRASH_GHOULS wrote: »
    House prics are stabilising at the bottom. Expect modest rises this winter before the next leg up early next year. Clear BUY signal.


    Is this MADNESS of HPC aka Bangok Dave aka sibley?

    Quite sad when bulls are resorting to having multiple monikers in an attempt to talk up the market
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    doire wrote: »
    Quite sad when bulls are resorting to having multiple monikers in an attempt to talk up the market

    :rotfl::rotfl::rotfl::rotfl::rotfl:

    Oh dear god, the irony.....

    The number of bear sockies on here these days is ridiculous. OP amongst them.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • tomterm8
    tomterm8 Posts: 5,892 Forumite
    Part of the Furniture Combo Breaker
    edited 27 September 2010 at 1:19PM
    phil_b wrote: »
    I dont tend to get into the nominal Vs real thing. I'm not convinced it has much relevance in the houseing market over such short timeframes.

    Well, the only way UK housing prices normally fall is via inflation. The reason for this is that only desperation sellers would sell their house if it is in negative equity in the UK. So if you ignore the nominal vs real thing, you are missing pretty much the entire risk of home ownership.
    “The ideas of debtor and creditor as to what constitutes a good time never coincide.”
    ― P.G. Wodehouse, Love Among the Chickens
  • torontoboy45
    torontoboy45 Posts: 1,064 Forumite
    ess0two wrote: »
    Then vendors withdraw from the market.
    excepting distressed sales ( minimal impact with IR's low and likely to stay that way for some time), inheritance sell-offs etc.

    is this a 2nd mexican stand off on its way?
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    torontoboy45 wrote: »

    is this a 2nd mexican stand off on its way?

    Hometrack seem to think so.....
    Mr Donnell [Hometrack] said, however, that despite the worsening of market conditions, he did not expect to see a full-blown house price crash. "Over the rest of the year and into early 2011, agents will start to focus on repricing the property on their books to a level where transactions volumes are maintained," he said. "Talk of a double dip, with the implication being that the market will see double-digit house price falls, is over-done despite the weak outlook for demand. We expect a slowdown in the volume of homes coming to the market to limit the scale of absolute price falls over the next 12 months."
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    This is good news


    The only people who want prices to rise are debt-junkies who want to borrow more money.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    MikeMaloney wrote: »
    If you are right and vendors wont want to sell because house prices have fallen so much then the number of foreclosures will make up the bulk of the figures.

    Not looking good.

    There are very, very few residential foreclosures in England & Wales. they relate to leases.

    Repossessions, on the other hand, might rise.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
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