House sales drop

Jimmy_31

Another mention of mortgage rationing in that article, mortgage rationing doesnt exist, i can go and get a mortgage tomorrow to buy my first house, i can do this because house prices rose to ridiculous levels so this meant i had to save a bigger deposit to get a mortgage , Higher price = Higher deposit.

Now that i have a larger deposit saved and houses in my area are not selling and still falling in price im nearly at the stage were i wont need a mortgage.

Strange how things work out isnt it

Realmoney_2

Easy credit is still here, its got a little more complicated but the real mortgage rationing hasn't started yet.

The way the world wide crisis is heating up we will see a real rationing of credit when all these factors come to a head.

Could be sooner rather than later. Wait until its really hard to get any credit, then see prices come down faster than present.

HAMISH_MCTAVISH

Realmoney wrote: »

then see prices come down faster than present.

And yet still not as fast as silver, which fell 11% yesterday alone!!!:eek:

Flight2quality

Jimmy_31 wrote: »

Another mention of mortgage rationing in that article, mortgage rationing doesnt exist, i can go and get a mortgage tomorrow to buy my first house, i can do this because house prices rose to ridiculous levels so this meant i had to save a bigger deposit to get a mortgage , Higher price = Higher deposit.

Now that i have a larger deposit saved and houses in my area are not selling and still falling in price im nearly at the stage were i wont need a mortgage.

Strange how things work out isnt it

Many people will be in your position as houses keep falling if they keep saving. Cash and debt is going up as has been said.

Now is not a good time to buy in deflation, your debt is going up even if you pay the interest off.

Jimmy_31

HAMISH_MCTAVISH wrote: »

And yet still not as fast as silver, which fell 11% yesterday alone!!!:eek:

Holy 5hit:eek: 11%...............who gives a 5hit:rotfl:

Jimmy_31

Flight2quality wrote: »

Many people will be in your position as houses keep falling if they keep saving. Cash and debt is going up as has been said.

Now is not a good time to buy in deflation, your debt is going up even if you pay the interest off.

Now is not a good time to buy in my area anyway, 3 bed semis are starting at 50k and 2 bed terraces are starting lower than that, hardly any are selling and the prices are still dropping.

May as well hang on and get something better for my money in 6 months time:money:

Pimperne1

Jimmy_31 wrote: »

Now is not a good time to buy in my area anyway, 3 bed semis are starting at 50k and 2 bed terraces are starting lower than that, hardly any are selling and the prices are still dropping.

May as well hang on and get something better for my money in 6 months time:money:

You must live in a pretty deprived area then? I would recommend NEVER buy in such an area. Location, Location, Location.

Jimmy_31

Pimperne1 wrote: »

You must live in a pretty deprived area then? I would recommend NEVER buy in such an area. Location, Location, Location.

Ok ill let 90% of the north wests population know that they have dropped a massive 8ollock.

Cleaver

Jimmy_31 wrote: »

Now is not a good time to buy in my area anyway, 3 bed semis are starting at 50k

Can you post a rightmove link to a 3-bed semi in the area you're in? Interested to see what one looks like.

Jimmy_31

Cleaver wrote: »

Can you post a rightmove link to a 3-bed semi in the area you're in? Interested to see what one looks like.

I admit they dont have swimming pools, you can do a rightmove search for a 20 mile radius of manchester or liverpool and then find the worst looking 3 bed semi that is 50k or under and post the link yourself if you want mate.

Saves dragging this one out doesnt it:)