We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

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

124

Comments

  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    nearlynew wrote: »
    This is good news


    The only people who want prices to rise are debt-junkies who want to borrow more money.

    And my parents.
  • PhylPho
    PhylPho Posts: 1,443 Forumite
    Part of the Furniture 1,000 Posts
    My son and his gf are waiting for the announcement of a scrappage scheme under which anything built by Barratt Homes becomes available to FTBs for a fiver down and a mortgage not exceeding £25k.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    Repossession. Foreclosure is almost impossible now.
    ...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'.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    MikeMaloney wrote: »
    How is the decision made to either foreclose or repossess?

    When interest rates go back to normal and monthly payments go back up there will be many who can not meet their mortgage payments. How does the bank decide what to do?
    what's normal?
  • DervProf
    DervProf Posts: 4,035 Forumite
    chucky wrote: »
    what's normal?

    Not a base rate of 0.5%, unless it remains at this level for a very long time.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    DervProf wrote: »
    Not a base rate of 0.5%, unless it remains at this level for a very long time.
    to be fair - it's all pointing in the direction of not moving for quite a long while...
  • PhylPho
    PhylPho Posts: 1,443 Forumite
    Part of the Furniture 1,000 Posts
    But if it is going to be "normal" for interest rates to be so low. . . then doesn't that situation argue specifically *against* a substantial drop in house prices?

    Unfortunately, I'm not one blessed with £000s of savings, but if I were, then I'd not be sitting around, lamenting the lack of return. I'd be off to buy bricks and mortar.

    And as I hardly think I'd be alone in migrating cash from non-performing savings accounts -- which seem to have no prospect of doing any better -- then wouldn't the number of other cash-rich savers likewise deciding to buy property assure that though house prices are at a plateau, they're not going to drop off it?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    PhylPho wrote: »
    But if it is going to be "normal" for interest rates to be so low. . . then doesn't that situation argue specifically *against* a substantial drop in house prices?

    Unfortunately, I'm not one blessed with £000s of savings, but if I were, then I'd not be sitting around, lamenting the lack of return. I'd be off to buy bricks and mortar.

    And as I hardly think I'd be alone in migrating cash from non-performing savings accounts -- which seem to have no prospect of doing any better -- then wouldn't the number of other cash-rich savers likewise deciding to buy property assure that though house prices are at a plateau, they're not going to drop off it?
    not everyone is able to get a mortgage.

    many that can, can't afford to raise a deposit.
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    House prices are falling in all regions.

    100% gauranteed (;)) fact.

    Despite what any liars and thieves tell you.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • ILW
    ILW Posts: 18,333 Forumite
    HOUSE_PRICE_CRASH_GHOULS wrote: »
    Utter lies. Only this week we had 2 respected reports out and BOTH pointed to clear and present HOUSE PRICE RISES.

    Quit lying and quit scaremongering you downright ghoul.

    You do sound rather desperate, I would guess you have at least a 100% mortgage and are sh1tting yourself.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.6K Banking & Borrowing
  • 254.5K Reduce Debt & Boost Income
  • 455.5K Spending & Discounts
  • 247.5K Work, Benefits & Business
  • 604.4K Mortgages, Homes & Bills
  • 178.6K Life & Family
  • 262K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture