Have a crash now and then lets build a real economy.

The_Fox_3

I have been in a little of a dream world today, i was earlier thinking about the house that i "might" get if things go the way i want them to go, dropping another 15%/20%.
I was thinking about how i was going to tear it apart and do this that and the other to it. Have a nice woodburner fitted, wooden floors everywhere, do all the plumbing and rewire myself etc etc.

Then i thought if there were another million like me, can you imagine what a boost to the economy that there would be, how many trades and how much retail would be saved.
This small/large crash IS going to happen, it will be terrible for those that did buy in the last 7 years(stuff the BTL vultures) and my heart really does and will go out to them, but thats market forces, trying to control them will only make things worse in the end.

Let's just get the inevitable horrible times out of the way, then seriously try and repair this mess. Those present homeowners who purchased in recent times that are all but maxed out on debt are being cruelly kept on life support that they know will be switched off soon, the economy needs us that are free of debt to rebuild, so stop making us all pay for the reckless, we need some moral hazard here to teach us a lesson for the next 20/30 years.

Then lets just use property as shelter, lets all have decent homes to come home to after aday contibuting to a real economy. Property speculators should be treated like they wre centurys ago, slung into a sack with starving rats.:)

wotsthat

Hooray for Foxy!

Another post based on a survey of one - himself this time.

System

By people like you do you mean "people who can afford to buy but are being greedy so they can have wood floors and woodburners as well"?

julieq

Actually property speculators were the norm when prices were low. It's only since 70% owner occupation that prices have increased due to supply and demand.

Pointless rhetoric aside - prices aren't going to fall just because someone on the internet with entitlement issues decide they should - the only way you're going to see significant falls is to build a lot of new homes. That would help your tradespeople too.

wotsthat

julieq wrote: »

Pointless rhetoric aside - prices aren't going to fall just because someone on the internet with entitlement issues decide they should - the only way you're going to see significant falls is to build a lot of new homes. That would help your tradespeople too.

..and I was just about to invest in woodburning stoves as well. Apparently, based on the survey, millions will be required.

ILW

Joeskeppi wrote: »

By people like you do you mean "people who can afford to buy but are being greedy so they can have wood floors and woodburners as well"?

I thought most houses had wood floors.

StevieJ

The_Fox wrote: »

Then i thought if there were another million like me, can you imagine what a boost to the economy that there would be, how many trades and how much retail would be saved.
This small/large crash IS going to happen, it will be terrible for those that did buy in the last 7 years(stuff the BTL vultures) and my heart really does and will go out to them, but thats market forces, trying to control them will only make things worse in the end.
s.:)

A couple of points.
a) How does you doing all the work on your house save the tradesman?
b) People who bought 7 years ago could be nearly halfway through paying for their house by now, half of it on tiny interest rates and more to come.

brit1234

julieq wrote: »

- the only way you're going to see significant falls is to build a lot of new homes. That would help your tradespeople too.

Sorry disagree. The reason house prices went up so much was loose lending, mass fraud and too low interest rates. Lending conditions as they are there is no option but falls.

ILW

StevieJ wrote: »

A couple of points.
a) How does you doing all the work on your house save the tradesman?
b) People who bought 7 years ago could be nearly halfway through paying for their house by now, half of it on tiny interest rates and more to come.

So a big crash wouldn,t be that harmful?

julieq

You'll have a bit of a job rewiring and replumbing these days, building regs have moved on quite significantly.

In the unlikely event you manage to buy a house, you need to be looking at Part P building regulations. Plumbing beyond simple replacement also I believe needs certifying by a qualified person. Even changing a back door needs certifying too. It's pretty crazy these days.

Really2

I had a dream one day, I had sold my house and house prices were tanking and builders were in trouble.
I dreamed that someone would take an offer 27% lower than that were only 4 months earlier based on the fact their was so much fear.

I would dream base rates would fall to 0.5% and I would get a 0.49% lifetime tracker.

Or was the dream I lived in a mansion and had won the lottery and I had A Bugatti.

mmm which was a dream?

I seem to remember reality was a bit more connected to reality and what was happening in the world, where the dream was fanciful.