When did you realize house prices would not crash?

StevieJ

Aberdeenangarse wrote: »

Agreed. They're all getting pretty desperate now. Think they'll be able to live in Luxury in the US.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=154370

Only place likely to accept them, would be Guantanamo bay :rotfl:

More like 'Somewhere over the Rainbow' with Dorothy :eek:

On Friday May 4, 2007 Greensburg, Kansas was almost completely destroyed by a F5 tornado. 97% of the buildings in the town of 1500 were destroyed or damaged beyond repair. Nearly every single resident was left homeless, jobless, and devastated. At least eleven people died in the storm, and hundreds of companion animals, livestock, and wild animals were killed as well.

http://news.infoshop.org/article.php?story=2007kma_greensburg1

jamesd

Sibley wrote: »

I was worried there may be a property crash about 2 years ago.

And you were right to worry, there was a crash between 2008 and 2010, when prices fell by about 20% over a short time.

Sibley wrote: »

Once this happened they were committed. It was obvious that the UK would have to crash and burn before the government would allow prices to drop.

Then the government failed, because there was a 20% drop.

Sibley wrote: »

We simply refuse to sell our places cheap.

We don't have a lot of choice when dead, in divorce or repossessed. The last of those has been delayed by the interest rate cuts but the other two remain.

Sibley wrote: »

Are you going to hold out for a crash or just buy now?

I recently bought a place formerly owned by a person who died. And will be leaving a place being sold by someone else who is divorcing.

The usual response here isn't crashes like that rapid 20% drop but prices that decline only slowly or stay the same in money terms but decline in real terms due to inflation. That seems to be quite a likely result so long as interest rates and repossessions remain lower than they would otherwise be as a result.

To cause another crash will presumably take a surge in repossessions as interest rates increase. Since low rates have let people build up savings, that may be delayed by some time, as the savings can subsidise the mortgage payments of some for quite a while. Though the FSA's proposed changes in mortgage regulations could also produce another crash.

des_cartes

Sibley wrote: »

I was worried there may be a property crash about 2 years ago.

I returned from a months holiday to be greeted with ' House prices may crash' headlines in the newspapers. To be honest everything was in place for that to happen.

The government made moves to protect home owners though.

But that was the previous government. You know the one that thought wealth could be 'created' by ever increasing debt/house prices. The new government believe exactly the opposite. Bad luck.

neverdespairgirl

When did you stop beating your wife?

N1AK

Graham_Devon wrote: »

Oh, I like that graph / chart / doodle / oil painting.

I, like you it seems, really wish people would stop posting it and stating how you can see where we are in the cycle. Yes, I personally think we will see a second fall. However if prices stagnate now we'll have seen a cookie cutter one step drop, there is absolutely nothing about the graph that 'proves' we will see further falls, or about the market so far that proves the graph fits the current paradigm.

alpha23

Why not make this a poll Sibley, like your last one 'Who is the most bitter person on this forum'.

I can understand your reluctance to as your last poll was removed by the moderators, not however before you actually came top in it though. That was quite poetic in it's justice.

Perhaps if your posts were of a little better quality and you were a little less twisted in your judgement of others your standing here might improve.

Procrastinator333

Sibley wrote: »

I was worried there may be a property crash about 2 years ago.

I returned from a months holiday to be greeted with ' House prices may crash' headlines in the newspapers. To be honest everything was in place for that to happen.

The government made moves to protect home owners though.

Once this happened they were committed. It was obvious that the UK would have to crash and burn before the government would allow prices to drop.

A couple of times in the last two years I wouldn't have been surprised if prices had gone down a bit. They defied gravity at times and the bears underestimated the will power of the home owner. We simply refuse to sell our places cheap.

Basically the bears see a drop in Right move prices (say 2%) then apply that to every house they see for sale. This is crazy.

I've noticed the bears have given up in the last week. The rise in prices last month was the final nail in the coffin for a house price crash.

I'd like to ask them. Are you going to hold out for a crash or just buy now?

Hate to break it to you, but at present the quarterly house price falls along with the blaance of surveyors reporting falls are accelerating.

That last RICS report is in my opinion a pointer that in the near future at least, the house price falls are going gather pace.

Sibley

Why not make this a poll Sibley, like your last one 'Who is the most bitter person on this forum'.

I can understand your reluctance to as your last poll was removed by the moderators, not however before you actually came top in it though. That was quite poetic in it's justice.

Perhaps if your posts were of a little better quality and you were a little less twisted in your judgement of others your standing here might improve.

I'm sorry you feel like that. I don't feel twisted at all. I thought the idea of message boards was to have a little debate. No harm intended from me. I like a giggle as well but some of here only like things serious. Gloomy won the poll anyway.

When did you stop beating your wife?

I never started. My wifes Thai remember. She could crack my skull in I reckon.:rotfl:

bendix

ruggedtoast wrote: »

Where do you actually live; the UK or Thailand?

He lives in a £100 a month rented house in one of the worst areas of Bangkok, an area where even the Thais don't want to live.

The expat community of Thailand know the pattern well. People like Sibley come to Thailand based on a couple of holidays and live in upmarkets areas like Sukhumvit because they like the idea of being in the heart of things. Soon, though, the money starts to dwindle, and they move to the Thai local areas, like Rangsit.

It's hard to explain what a craphole it is - no transport, no infrastructure, nothing. Hours drive to the city to his girlie bars, and difficult to get taxis to take him home again.

Don't listen to this notion of Sibley living the good life in Thailand based on his rental income in the UK. He's barely scraping a living,hence his obsession with desperately hoping his house in the UK doesn't lose its value. He has a lot at stake.

ruggedtoast

bendix wrote: »

He lives in a £100 a month rented house in one of the worst areas of Bangkok, an area where even the Thais don't want to live.

The expat community of Thailand know the pattern well. People like Sibley come to Thailand based on a couple of holidays and live in upmarkets areas like Sukhumvit because they like the idea of being in the heart of things. Soon, though, the money starts to dwindle, and they move to the Thai local areas, like Rangsit.

It's hard to explain what a craphole it is - no transport, no infrastructure, nothing. Hours drive to the city to his girlie bars, and difficult to get taxis to take him home again.

Don't listen to this notion of Sibley living the good life in Thailand based on his rental income in the UK. He's barely scraping a living,hence his obsession with desperately hoping his house in the UK doesn't lose its value. He has a lot at stake.

I know BKK fairly well, if not that recently. The last time I left I was glad to go.

Briefly looked for an apartment there once, I was surprised how expensive they were for how little you get. None of the ones we saw that we could afford were in areas I would want to live in.

Outside of the somewhat limited scope of the Skytrain public transport is pretty non existent as well.

I wouldnt have thought £100 would get you far in Bangkok's rental market.