anyone else want a CRASH...?

CB1979_2

scorpio_princess wrote:

Interest rates WILL go up - why can't history repeat itself? It has before.

yes it can repeat itself but it's not a true picture as there are other factors affecting housing availability.

as i said before social trends differ hugely now (more divorces means 2 houses needed for 1 family, more young single mothers, more immigrants, etc etc) there are also products on offer from the banks/building societies that differ now.

a simple example may be if people can't afford their 25 year repayment mortgage they can get extended products if they wish, or they can downgrade to IO.

it's not just a simple "well it's happened before so it'll happen again" scenario.

abaxas

CB1979 wrote:

yes it can repeat itself but it's not a true picture as there are other factors affecting housing availability.

as i said before social trends differ hugely now (more divorces means 2 houses needed for 1 family, more young single mothers, more immigrants, etc etc) there are also products on offer from the banks/building societies that differ now.

a simple example may be if people can't afford their 25 year repayment mortgage they can get extended products if they wish, or they can downgrade to IO.

it's not just a simple "well it's happened before so it'll happen again" scenario.

This always gets said but no-one ever provides supporting data. They just beleive what they are told.

Also "well it's happened before so it'll happen again" means nothing as it is applicable to house price inflation and crashes.

So I have to ask.... why are people scared of a house price crash? Surely they have planned for the future?

EagerLearner

Surely we need to be more objective here and quit citing 'more immigrants' as being one of the main factors? Immigrant levels have been rising at the same rate the economy has, so in fact the levels are not that different to what they have always been - they are on a par.

Besides, with so many people 'escaping' Britain to live in France, Australia, New Zealand, enter-your-own-sun-spot-here as per the 'property !!!!!!' on TV - anyone coming in is fortunately replacing the gap which would have been left in the economy.

lynzpower

IN fact I do believe that there are more people leaving the Uk than coming.

All these new life down under type people- and theres plenty among us here, emigrated, emigrating and wanting to at some point.

Is this still current?

Also lets not forget a large amount of economic migrants are on working visas that are time limited.

CB1979_2

abaxas wrote:

This always gets said but no-one ever provides supporting data. They just beleive what they are told.

Also "well it's happened before so it'll happen again" means nothing as it is applicable to house price inflation and crashes.

So I have to ask.... why are people scared of a house price crash? Surely they have planned for the future?

what you really don't think there's more divorces & young single mothers nowadays compared to 15-20 years ago?

I'm not scared of a house price crash, I don't give a f*ck if it happens or not, I have my home I can afford my monthly payments and I have a pile of cash in the bank.

It just gets me the amount of people who say there will DEFINATELY be a crash all because "it's happened before it'll happen again".

what do people define as a crash?
1) 5% reduction?
2) 10% reduction?
3) 50% reduction?

all the "experts" on here who will no doubt when/if it happens will come out and say "ha told you so"

so does that mean for every month it doesn't happen I can say "ha told you there wouldn't be!"

lynzpower wrote:

IN fact I do believe that there are more people leaving the Uk than coming.

you HONESTLY think that there are more people leaving the UK?

wow I'm gonna have to check some of these figures out i think, but if they reckon there's over 10,000 poles coming in each week (ONLY Poles), i will need to see the emigration figures for people leaving

manhattan

CB1979 wrote:

what you really don't think there's more divorces & young single mothers nowadays compared to 15-20 years ago?

I'm not scared of a house price crash, I don't give a f*ck if it happens or not, I have my home I can afford my monthly payments and I have a pile of cash in the bank.

It just gets me the amount of people who say there will DEFINATELY be a crash all because "it's happened before it'll happen again".

what do people define as a crash?
1) 5% reduction?
2) 10% reduction?
3) 50% reduction?

all the "experts" on here who will no doubt when/if it happens will come out and say "ha told you so"

so does that mean for every month it doesn't happen I can say "ha told you there wouldn't be!"



you HONESTLY think that there are more people leaving the UK?

wow I'm gonna have to check some of these figures out i think, but if they reckon there's over 10,000 poles coming in each week (ONLY Poles), i will need to see the emigration figures for people leaving

if your not scared about a future crash why do you keep getting wound up about peoples opinions here,on these type of threads?

you need to simmer down as well! lol there seems to be alot of anger in you it looks like you see your house as an investment? instead of a home

manhattan

and wouldnt it be best if you use that pile of cash you have to pay off your mortgage?

abaxas

manhattan wrote:

if your not scared about a future crash why keep arguing about peoples opinions here,on these type of threads?

you need to simmer down as well! lol there seems to be alot of anger in you it looks like you see your house as an investment? instead of a home

Good point!

However it is weird that recently most of the anger has come from the bulls, the bears appear to be chilled out....

abaxas

manhattan wrote:

and wouldnt it be best if you use that pile of cash you have to pay off your mortgage?

Everyone needs some cash. You cant borrow money if you have no job!

lynzpower

wow I'm gonna have to check some of these figures out i think, but if they reckon there's over 10,000 poles coming in each week (ONLY Poles), i will need to see the emigration figures for people leaving

the difference is whether ( as we have discussed earlier in the thread) whether these economic migrants stay permanently.

Im sure scorpio princess would be able to tell us more about the influx of workers from the accession countries who live in caravans/ outhouses on agricultural land, I believe its endemic in Norfolk.