UK Housing market still very strong...

Sibley

After yesterdays 3.6% drop news the bears were going crazy. It's hardly in the newspapers today. In fact it's not that important. YOY houses are still on the up.

I think this very level headed article sums it up nicely.

http://www.dailyexpress.co.uk/posts/view/204236

smamst

Level headed article from the Daily Express, when did they start doing that.

PasturesNew

House prices at half what they are is actually good news.... people'd have spare money to buy more stuff = more jobs created.

High house prices ties up everybody's money in one thing.

Sibley

Getting a bit worried Sibley? If house prices fall much more Ting Tong is going to leave you for a younger and more prosperous model.

Honestly Gloomy it doesn't work like that over here.

Paleface big boss in Thailand. Him have big power can buy many wife with buffalo.

Back to the newspapers today. I'm actually quite surprised the papers aren't stuffed full of this monumental news. It shows really it's not important what we all say on message boards. Nobody listens or cares.

I've copied some of the comments from the Mail today.


Estate agents insisted yesterday that the fall, which is based on Halifax’s own data of its mortgage approvals last month, has been exaggerated.
For example, prices in the capital have been rising at rates of up to 15 per cent over the last year.
Peter Rollings, managing director of Marsh and Parsons, said: ‘Large areas of London, particularly Kensington, Chelsea



Owning your own home, is better than wasting money renting, i have worked out that i have invested 250k cash in my house, if i stay there for 10 years i would have wasted at least 120kl in rent. so even if prices fall 50% i have not lost anything, and if i cant sell i will rent....... buy a home to live in not for investment, and you cant go wrong , especially as pensions will be worth nothing in 20 years time... all these people commenting about , wanting house prices to drop, will change their tune once they own one



It's not a crisis for homeowners, it's a crisis for people with mortgages! There is a difference.


Falling house prices are not even a crisis for people with mortgages. Even if you go into a position of negative equity, it does not mattter - as long as you are still able to keep up your repayments.
It is only if you need to sell that the value of your house or any negative equity becomes relevant in any practical sense.

smamst

So you went on to the Mail website and copied and pasted selective comments here?

And you are the Prime Bull on this website forum.

Jesus wept.

Bangkok-Dave

So you went on to the Mail website and copied and pasted selective comments here?

And you are the Prime Bull on this website forum.

Jesus wept.

They are two different articles and there were no other comments on the Mails story.

I'm not really a bull either. My tenant paid the rent this month. What difference has it made to me that prices supposedly went down this month?

Same as when they go up. I don't see an extra few grand on my bank balance.

AD9898_2

Come on Sibley, the housing market is not strong in any way. It's been propped up by low approvals, low IRs, SLS, banks not repo'ing etc...

A strong market in any asset class would not need those measures to keep it afloat. It might only be one month, but even with all that help prices fell by the biggest amount since records began yesterday.

Sibley

Everyone is entitled to have their say. One thing for sure, if the newspapers had really gone to town on this news it might have created the panic the crash brigade need.

We don't want a crash and we won't have a crash. It's a simple as that.

doire_2

Sibley wrote: »

After yesterdays 3.6% drop news the bears were going crazy. It's hardly in the newspapers today. In fact it's not that important. YOY houses are still on the up.

I think this very level headed article sums it up nicely.

http://www.dailyexpress.co.uk/posts/view/204236

:rotfl::rotfl::rotfl::rotfl: Pinning your hopes on this! The editior of this paper has a huge number of houses.:rotfl:


Where is there proof of this rise?

Look at this rubbish

With the number of sales also up by more than 11 per cent in the past 12 months, one leading estate agent called the news “welcome”.
The mixed picture began with figures from LSL, owner of the Your Move and Reeds Rains chains, reporting year-on-year price growth of 7 per cent.
The number of transactions in September also increased by 3.4 per cent in the month, up 11.5 per cent against last September. David Newnes, estate agency managing director of LSL, said: “Historically, transactions slow in September but there has been a welcome increase in activity this year.”

Is that it? :rotfl:Is that the proof of this supposed rise???? A quote from an estate agent?

doire_2

Bangkok-Dave wrote: »

They are two different articles and there were no other comments on the Mails story.

I'm not really a bull either. My tenant paid the rent this month. What difference has it made to me that prices supposedly went down this month?

Same as when they go up. I don't see an extra few grand on my bank balance.

Oh Sibley. Caught! Proof you are bangkok dave!

smamst asked sibley a question and bangkok dave answered it :rotfl:

What a plonker!

phil_b_2

doire wrote: »

Oh Sibley. Caught! Proof you are bangkok dave!

smamst asked sibley a question and bangkok dave answered it :rotfl:

What a plonker!

I think he's already admitted to being both users.

Prices havnt done much of anything over the last couple of years in my area. Statistics will actually tell you they have risen but from observation it seems you can still get the same houses for the same money.