ok i admit it house prices ARE mental

Old_Git

my crystal ball say prices will rise again

leftieM

I wish you hadn't resurrected this thread. I certainly changed my tune since writing anything that I did!

I remember the day that I said "it's over" to my husband (referring to the housing bubble rather than our marriage). I used to watch bids coming in on the Templeton Robinson website. In April 2007 they stopped coming for most houses and the days and weeks started to pass. The bears had been right all along, as was obvious they would be when I started to read about the bubble and how it came to be.

leftieM

Old_Git wrote: »

my crystal ball say prices will rise again

When and why?

seatzie

tara747 wrote: »

Just came across this thread... my, how interesting it is to read with hindsight!!!

how do you "just come across" a thread that is over 2 years old???lol

NAR

x12yhp wrote: »

Haha very interesting. I especially love this one...
Quote:
Originally Posted by NAR
Doesn't really suprise me. Unfortunately some people on this board belong to a cloud cuckoo land that think house prices are going to fall!!!! :rotfl: :rotfl:


Seems that cloud cuckoo land was the place to be!!

I was doing a bit of winding up that day! :A

x12yhp

leftieM wrote: »

I wish you hadn't resurrected this thread. I certainly changed my tune since writing anything that I did!

I remember the day that I said "it's over" to my husband (referring to the housing bubble rather than our marriage). I used to watch bids coming in on the Templeton Robinson website. In April 2007 they stopped coming for most houses and the days and weeks started to pass. The bears had been right all along, as was obvious they would be when I started to read about the bubble and how it came to be.

A lot of people got it very wrong. The real question is whether you accepted it because you were forced by events or because you saw the underlying reasons... a lot of people were of the former persuasion and they are busily talking up the market again whilst once more neglecting the underlying reasons.

leftieM

A bit of both I suppose. Similar to yourself I expect - if you had owned a house at the time you might not have questioned the boom so much, or cared so much, or you might even have wanted it to be real and sustainable. Perhaps it was just because you found that you couldn't afford a reaonable house that you started to ask questions.

tara747

seatzie wrote: »

how do you "just come across" a thread that is over 2 years old???lol

Oh the cynicism! Funnily enough, I was doing a search for holidays from Belfast! lol

x12yhp

leftieM wrote: »

A bit of both I suppose. Similar to yourself I expect - if you had owned a house at the time you might not have questioned the boom so much, or cared so much, or you might even have wanted it to be real and sustainable. Perhaps it was just because you found that you couldn't afford a reaonable house that you started to ask questions.

And to ask the vital question.... can you afford one now? I have to be honest, I now have a choice of slightly dodgy terraced and former council estate properties - so whilst that is an improvement on 2 years ago, I still cannot afford anything I consider reasonable!

leftieM

Prices are still mental but, because they aren't as mental as they were, most people think they must be affordable. If we hadn't sold up to rent a couple of years back then we would have no hope of anything remotely reasonable. We are now within sniffing distance of remotely reasonable stuff but only because we played the market. It still requires 250k+ to buy a decent 'middle class' family gaff.
I reckon the bust is being inhibited by all the QE money sloshing about the system. Did anyone see Newsnight last night? This realignment of Capitalism is only just beginning.