House prices need to drop 40% to be affordable discussion

crash123

RenovationMan wrote: »

Or go on about how he lives in a Northern slum. Worst.. pretent.. northerner.. ever..

I wouldn`t mind living near Jimmy as he seems to be very sensible and comes across as a decent chap.
Every area has its good and bad bits, you just have to know how to survive in the bad ones.

Pimperne1

crash123 wrote: »

I wouldn`t mind living near Jimmy as he seems to be very sensible and comes across as a decent chap.
Every area has its good and bad bits, you just have to know how to survive in the bad ones.

Its a pity we can't convince more people to think like you then we would be able to fill the houses without people with the people without houses.

IveSeenTheLight

geneer wrote: »

Thanks Light.

I'll ammend my original post then.

"£60K off your average semi-detatched house.
Yay. Bulls win!"

Your going to have to amend your original post again.

Average semi-detached peaked at £145,078 in Apr 2008
Currently they are averaging £115,675

[IMG]http://www1.landregistry.gov.uk/Apps/house-prices/house-price-index-custom-reports/hpi_report.asp?g=1&a=Manchester&s=01 January 2007&e=01 September 2011&t=2[/IMG]

IveSeenTheLight

geneer wrote: »

BTW this bear is on record predicting approx 35% real term falls from peak, with prices initially dropping off a cliff followed by years of grinding falls. Not to shabby really, when you consider the fact that Halifax is almost there right now.

Interesting.
You therefore would not be expecting further falls then

Interestingly, I said back around 2008, that prices needed to fall 22% immediately or 15% over 3 years to consider inflation.

Not far off either

Pimperne1

IveSeenTheLight wrote: »

Your going to have to amend your original post again.

Average semi-detached peaked at £145,078 in Apr 2008
Currently they are averaging £115,675

Yeah, I already asked him how he worked that out.

geneer

Pimperne1 wrote: »

Actually I am pretty sure the prediction must exist or he wouldn't be promoting it so.

As with you, I would like to see the context in which it was made.

The context would be assessing the range of views expressed and determining what seemed to be reasonable. I wasn’t exactly sticking my neck out at the time.
35% falls were consistent with mainstream bearish opinion, in the press as well as the healthy stable world of internet discussion forums.

The obsessions of a handful of fringe bulls in cherry picking the ramblings of a couple of fringe bears really has nothing to do with it.

geneer

IveSeenTheLight wrote: »

Your going to have to amend your original post again.

Average semi-detached peaked at £145,078 in Apr 2008
Currently they are averaging £115,675

Whoops! Looks like you were far too quick off the mark light.
http://forums.moneysavingexpert.com/showpost.php?p=48087147&postcount=193
Ha ha. Looks like the cheap internet forum pointscoring goes to me for this one..

geneer

Rinoa wrote: »

I saw how Edinburgh prices were £30k higher than when you joined HPC 6 years ago

Actually Rinoa, applying your patented "rules of harsh reality" house prices in edinburgh are actually a bit less than they would have been had I decided to buy when I joined HPC.

Which I presume magically means my opinions on UK house prices remain relevant.

Don't sulk though mate. The B*lls**t timing game runs on your carefully constructed rules after all. :rotfl:

Back to houseprices in 2001 now is it?

wotsthat

geneer wrote: »

The context would be assessing the range of views expressed and determining what seemed to be reasonable. I wasn’t exactly sticking my neck out at the time.
35% falls were consistent with mainstream bearish opinion, in the press as well as the healthy stable world of internet discussion forums.

The obsessions of a handful of fringe bulls in cherry picking the ramblings of a couple of fringe bears really has nothing to do with it.

My body clock is completely out of kilter today. As soon as I saw your post I thought it was lunchtime. Either you've got the day off or the clocks changing has given me mild jet lag.

Rinoa

geneer wrote: »

Actually Rinoa, applying your patented "rules of harsh reality" house prices in edinburgh are actually a bit less than they would have been had I decided to buy when I joined HPC.

Which I presume magically means my opinions on UK house prices remain relevant.

Don't sulk though mate. The B*lls**t timing game runs on your carefully constructed rules after all. :rotfl:

Back to houseprices in 2001 now is it?

Actually I was a little out.

ESPC has Q4 2005 Edinburgh prices at £176,917

Whereas the very latest report has Edinburgh prices at £216,673

So prices are up around £40,000 since you joined HPC.

Congratulations