House prices wont Crash/interest rates wont rise...

B_Blank

Asheron wrote: »

House prices will Crash, interests rates can't rise because it will increase unemployment

Yes, and the reason prices wont crash is because interest rates wont rise. We are in for 4-5 years of slow declines or stagnant prices. Thats (easily) the most likely outcome. This started about a year ago and it will continue for a while.

I suppose its better than prices going up and up, but it isnt the reduction that many people in my position need to see to make housing more affordable immediately.

julieq

I need a fall in the price of Georgian Rectories too.

More than that. I am ENTITLED to a fall in the price of Georgian Rectories.

Typhoon2000

The way banks are strapped for cash & the differeance between what they price thier SVR and fixed mortgages compared to base rates, I fear house prices may not drop as much as mortgage costs increase by. If one can only just afford the potential mortgage payment now on their chosen house, they may find they cant afford it in a year or 2 time when/if houses prices have eased and interests have gone up.

AD9898_2

Sibley wrote: »

Where was this crash then? Mars?

With approvals at all time lows the chances of selling a house are very low, therefore the 'crash' visits you if you become a forced seller. Forced sellers are the key whether on a large scale or small scale.

Conrad

B_Blank wrote: »

We are in for 4-5 years of slow declines or stagnant prices.

Stagnant at times, but over 5 years you will see some chunky rises. People said in 1981 following 2 years of decline that we were in for a flat market, but we were well into boom by 1986.

You may think things are worse now - it always seems that way, but go back to 1981 headlines and we had Iran / Iraq dispute, Russia and the threat of nuclear winters, mass strikes, the Falklands etc etc.

It's all too easy to overdo the downside.

doire_2

Conrad wrote: »

Stagnant at times, but over 5 years you will see some chunky rises. People said in 1981 following 2 years of decline that we were in for a flat market, but we were well into boom by 1986.

You may think things are worse now - it always seems that way, but go back to 1981 headlines and we had Iran / Iraq dispute, Russia and the threat of nuclear winters, mass strikes, the Falklands etc etc.

It's all too easy to overdo the downside.

This is not the 1980's. This is the worst economic mess since the 1920's

the_flying_pig

CloudCuckooLand wrote: »

Short memory some people. -16.7% peak to trough.

[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1&gt=1&a=E&W-ALL&s=01 September 2007&e=01 June 2009&t=1[/IMG]

Nah – in Sibleyland the average house price graph looks more like:


Jan 07 – whatever vendors think their house is worth/is a good price;

Jan 08 – as per Jan 07;

Jan 09 – see above;

Jan 10 – etc;

Jan 11 – “”

Conrad

doire wrote: »

This is not the 1980's. This is the worst economic mess since the 1920's

Absolutley classic response. Go read the papers of 1974, 1982, 1991 - it's always the worst time ever but in different ways.

Life goes on, fuc it all and get stuck in.
Who gives a rats @rse what the headlines read. Go cleaning people wheelie bins this summer, make £20,000 cash on the side.

Conrad

Here's some of 1982 - imagine reading this right now - it would feel pretty much the same as 2011. BARE IN MID THE WHOLE NUCLEAR THREAT TOO. :



Miners vote against strike action and accept the National Coal Board offer of a 9.3% pay rise.
26 January - Unemployment in the United Kingdom is recorded at over 3,000,000 for the first time since the 1930s.[4]
30 January - Rioting breaks out in St Paul's, Bristol.

5 February - Laker Airways collapses, leaving 6,000 passengers stranded, with debts of £270 million.[4]
12 February - Opening of first Next clothing store, a rebranding of the merged Joseph Hepworth and Kendall chains masterminded by George Davies.[5]

19 February - The DeLorean Car factory in Belfast is put into receivership.
23 February - The Glasgow-registered coal ship St. Bedan is bombed and sunk by an IRA unit driving a hijacked pilot boat in Lough Foyle.
]
19 March - Argentines land on South Georgia Island, precipitating war.

.

1 April - A 12-year-old unnamed Birmingham boy becomes one of the youngest people in England and Wales to be convincted of murder after he admits murdering an eight-year-old boy, and is sentenced to be detained indefinitely.[5]

2 April - Falklands War begins as Argentina invades the Falkland Islands.[1]



24 April

• The first British serviceman dies in the Falklands conflict, when his Sea King helicopter crashes.

25 April - Falklands War: Royal Marines recapture South Georgia.[10]

• 3 June - Israeli ambassador to the UK, Shlomo Argov, shot outside the Dorchester Hotel.[12]
• 8 June

• 16 June - Welsh miners go on strike to support health workers demanding a 12% pay rise.[13]
• 19 June - The body of "God's Banker", Roberto Calvi, chairman of Banco Ambrosiano, is found hanging beneath Blackfriars Bridge in London.
• 21
• 20 July - Hyde Park and Regents Park bombings: The Provisional IRA detonates two bombs in central London, killing 8 soldiers, wounding 47 people, and leading to the deaths of 7 horses.
• 21 22 July
• • Production of the Ford Cortina ends after 20 years and five incarnations (the final two of which were virtually identical). The Cortina's successor, the Sierra, will be built at Dagenham and in Belgium, though in slightly lower volumes as the smaller Escort is now Ford's strongest-selling car.

hearts

The poor will stay poor and the rich will get richer. This is as it was and as it will always be.