Are House Prices Going to Crash?

OverlandLandy

Yes, within the next year

I guess this one is a bit like 'Crashing your car'........

Its about definition..... A crash can mean a small bump or a total write off! A crash means different things to different people.

It (like a car crash) is all down to impact and how much it hurts.

With lending & Debt at an all time high the 'crash' will most likly be 'self inflicted'....ie lots of people cant affort to pay their debts. Some of course may choose no to pay...look back a the days of negitive equity - some people just walked away (not a good idea - but some folks just cant cope).

The effect of a few not managinging becomes magnified...and you end up with a full scale panic...more property comes on the market....more people panic....etc....

At the moment the UK is experiencing a population decline, but it is being 'hidden' by people coming in to the country...if the people coming here to work slows down...so will demand for housing....

Divorce and single living are still on the increase...so the 'good news' on that front is that this creates a demand for housing (houses used to contain more people than they do now).

Land is not as plentiful as it used to be, so prices have gone up - this gets added to house prices...and thus fewer people can afford them..the market slows...

Taxes may have to rise to pay for NHS/Schools/Armed forces operations/MP wages etc...... add this to incresed BofE rates and we all end up paying more...some people will not be able to keep going with their payments....

If we end up with a 'pay per mile' road tax system - will people want to locate closer to their work - before 'commuting' becane commonplace? Waht would this do for prices?

I guess the honest answer is that no-one really knows - it may be that there is a flattening out of the differing house prices throughout the UK........but if YOUR house goes down in value (or does not increase as much as the UK average or as much as you 'think' it should) will you feel that you have had a Crash...As I say - it all depends on degree and impact!



If anyone realy knows the future can you let me have the numbers for the Euro Millions draw - Thanks

whambamboo

Yes, within the next year

mr.broderick wrote:

:rotfl: instigated every time by the losers who cant afford to buy now...

Yeah right.... All losers for being born in the wrong year. Good thinking, all those people who just graduated from university this year: losers the lot of them.

Here's a newsflash for you mate, the cost of housing is holding normal decent working people back from having kids. This means the only people having children will be the unemployed people on benefits who get everything paid for by the state. What this means for you is that there won't be anyone to pay for your pension, because let's face it the children of the welfare state aren't going to be out earning a packet are they?

I guess not wanting to pay £600k for a house that would have cost £300k a few years ago makes me the loser, and I must be scum for keeping my £100k deposit in the bank, and not paying over the odds.

Yeah right. I guess you'll be telling all the people buying their kids presents from Argos for £100 that they are losers and should be buying them for £300 in Harrods.

Have you not seen the name of this site? Money saving expert.

Seems to me like saving tens or hundreds of thousands on overpriced housing is the biggest saving you could possibly make.

It's a shame that government policy has turned housing from somewhere to live into an instrument of speculation, making UK property among the most expensive in the world, dangerously inflating prices by 3 times in 10 years without obviously delivering any benefits to the country

ollyshaw

Yes, within the next year

Woby_Tide wrote:

How about another poll "I've been predicting a crash for.....x years and still it hasn't happened"

What ever happens to house prices its a big assumption to suggest that no crash over the previous years equates to there being no crash coming!

Olly

prudryden

Wham - Are you having a bad day today? P.S. Thanks for the link re: professional cleaning- I can understand the spirit being the guidance.

abaxas

Yes, within the next year

whambamboo wrote:

Here's a newsflash for you mate, the cost of housing is holding normal decent working people back from having kids. This means the only people having children will be the unemployed people on benefits who get everything paid for by the state. What this means for you is that there won't be anyone to pay for your pension, because let's face it the children of the welfare state aren't going to be out earning a packet are they?

I never thought of that.

A countries success is goverened by the size of it's middle class. We are 'chaverizing' the UK.

Maybe we need to get back to fundementals. Once we add speculation and 'investment' into a basic human need, we are broken as a society.

sm9ai

Yes, within the next year

What is interesting is more people think houses will crash than not crash.

When a similar poll type thread was done a year or so ago what did people think then? That would be the key.

BobProperty

Yes, within the next year

sm9ai wrote:

What is interesting is more people think houses will crash than not crash.

When a similar poll type thread was done a year or so ago what did people think then? That would be the key.

You mean there isn't one on here?

cupid_s

I've absolutely no idea

I think the real losers will be those who have bought and overstretched themselves so much that they will not be able to afford to pay any increases in mortgage rates which we are starting to see already.

When we bought our first house in 2004, we fixed the rate. We knew by the time we moved to the variable rate we would be able to afford to pay our mortgage even if rates were 15%+. In fact in that situation we would still be able to overpay by about £700 per month. Now obviously not everyone can allow themselves such a wide safety margin but people who have taken out a mortgage and fixed it at 4.75% and tell me that they are stretching themselves (and I know people like this) know the rsik they are taking and should have been more sensible. And these people tell me it's ok cos if the interest rates rise and they cant afford the mortgage, they'll just sell and buy somewhere !

No-one knows if there will be a crash (but with attitudes like those I have just talked about it seems a possiblity to me). But if there is I'll be ok and so will the posters here who haven't bought and have instead rented and pocketed the difference. In fact we'll be laughing. I'll be in a position to buy another property, and those who have thousands of savings in the bank and no property as yet will be very happy.

mr.broderick

No, they will stabilise and interest rates will stay low enough

whambamboo wrote:

Yeah right.... All losers for being born in the wrong year. Good thinking, all those people who just graduated from university this year: losers the lot of them.

Here's a newsflash for you mate, the cost of housing is holding normal decent working people back from having kids. This means the only people having children will be the unemployed people on benefits who get everything paid for by the state. What this means for you is that there won't be anyone to pay for your pension, because let's face it the children of the welfare state aren't going to be out earning a packet are they?

I guess not wanting to pay £600k for a house that would have cost £300k a few years ago makes me the loser, and I must be scum for keeping my £100k deposit in the bank, and not paying over the odds.

Yeah right. I guess you'll be telling all the people buying their kids presents from Argos for £100 that they are losers and should be buying them for £300 in Harrods.

Have you not seen the name of this site? Money saving expert.

Seems to me like saving tens or hundreds of thousands on overpriced housing is the biggest saving you could possibly make.

It's a shame that government policy has turned housing from somewhere to live into an instrument of speculation, making UK property among the most expensive in the world, dangerously inflating prices by 3 times in 10 years without obviously delivering any benefits to the country

Newsflash - People renting now and who have deposits ready for a house hoping for a crash dont give a monkeys about people who bought in the last couple of years at high prices so I will defend them and call you losers, you dont like it do you when its turned against you do you. There are a lot of members on here you,mean machine angela d just to name a few who criticise people for buying now in the hope that no one buys now at inflated prices hence prices may come down so they can buy. These people dont give a monkeys about people who has other people put it "Risked" by buying during this explosion, i commend them for their balls. I didnt buy during this so I have relatively little to lose but lets look at the bigger picture and stup hoping for a crash to quote angela d "30% drop". I bought my house for the long term i dont care if i dont make a penny on it, its all relative anyway.

whambamboo

Yes, within the next year

prudryden wrote:

Wham - Are you having a bad day today? P.S. Thanks for the link re: professional cleaning- I can understand the spirit being the guidance.

Nah, I'm like this every day