House prices will fall another 4%

Going4TheDream

Pimperne1 wrote: »

Again, negative equity isn't a problem if you don't need to remortgage or sell. Does provide falls hope for some though.

Depends if you are desperate to buy, sure there would be many willing to gain at the expense of others misery if the SHTF so to speak....

chewmylegoff

Pimperne1 wrote: »

Again, negative equity isn't a problem if you don't need to remortgage or sell. Does provide falls hope for some though.

not a problem? it's hardly ideal is it!

geneer

Pimperne1 wrote: »

"will make grim reading for homeowners who bought their property at the height of the boom four years ago and have already seen around 20 percent wiped off the value since then."

It will only make grim reading if they need to sell or remortgage otherwise they will be five years into paying off their mortgages during a period when rates have been at their lowest ever.

Ah the old "house prices haven't really changed until they sell" gambit (c)2008 combined with the dusty old "taking credit for the emergency base rates required by the global economic collapse and house price crash we utterly failed to see coming" position.

Classic Bull.


Though to pimperne1s credit he didn't simply go for the "what house price crash" option. The internet equivalent of putting their fingers in their ears and going "lalalala can't hear you". :rotfl:

geneer

Pimperne1 wrote: »

These polls are laughable anyway, most of the people questioned have probably never even been on an HPC website and have as much chance of successfully predicting the housing marked as, well, geneer.

You are of course refering to the house price crash which started just over a year and a half after I joined HPC.

geneer

HAMISH_MCTAVISH wrote: »

Only on the Halifax index, which even Halifax admit is unreliable....

Nationwide is down around 10% from peak, Acadametrics is only down 5.2% from peak. ROS is within a percent or two.

Regardless, it's more interesting that one of the forum uber-bears saw fit to post an article claiming prices will only fall another 4%.

Amazing how expectations have changed.:)

You have of course forgotten to list the Land Registry figures.
Isn't that strange? :rotfl:


Its amazing how interpretations have changed.
Last time prices fell as much in nominal terms, they called it a house price crash.

This time, the bulls call it a "teapot".
So clearly its not a crash.


Still, I do like the cross eyed argument that the Halifax has to now be dismissed out of hand, as its a "unreliable" indicator of average uk house prices.
As if avergage UK house prices are currently a reliable indicator of anything.

The argument I've heard (y'know by applying a bit of context and analysis) is that halifax has a more northen bias, whilst nationwide better tracks darn saff.
On that basis you might expect the land reg to be somewhere inbetween.
Which, of course it is.

So equally it could be argued that in certain area's of the country, Halifax is actually more relevant than most.
Simples.