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Debate House Prices


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How long before the inevitable nominal fall of 35% in houseprices

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Comments

  • DervProf
    DervProf Posts: 4,035 Forumite
    robmatic wrote: »
    Possibly. I would really hope that such people would have spent the last 3 years sorting themselves out but that could be a wildly optimistic view of human nature.

    I would really hope that such people may not have decide to spend the "profit" they made from their homes, but that could also be an optimistic view of human nature. It also contradicts some of the things that I witnessed just prior to the credit crunch.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • Cherryjack
    Cherryjack Posts: 1,125 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    robmatic wrote: »
    I am curious regarding what exactly those people for whom low interest are a necessity were doing in 2005/2006 when their housing costs were much higher?

    I bought another house and am renting this out now.. hoping to be in a much better situation in the next few years..
  • Cherryjack
    Cherryjack Posts: 1,125 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    homelessskilledworker wrote: »
    No Cherryjack, they will not be raising them soon and if they do they will not be by much. It would have been laughed at 10 years ago if someone had said that if BOE raise interest rates to 3% then the whole country would be hammered, but thats where we are now.

    Your only hope is for the UK to remain desperate.

    Thanks for the reply .. hoping the uk does not stay desperate for too much longer of course.. but was just wanting to know so i could prepare myself :beer:
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    paulmapp8306 wrote: »
    Not quite sure why thats relevant. I.

    Just to point out that things don't always work out as you expect.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Cherryjack wrote: »
    i have an interest only mortgage due to bad debt which i am slowly clearing.. my mortgage was going to be £1300.00 in 2006 and then the credit crunch hit and it went down to £600..
    do you see this rising any time soon? it scares me..
    Thank you

    If you are scared now what were you like in 2006 :eek:
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Cherryjack
    Cherryjack Posts: 1,125 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    StevieJ wrote: »
    If you are scared now what were you like in 2006 :eek:


    ahhh i see.. what happened is the payment was £800.00 ish and was about to go upto the £1300 mark .. then everything crashed and it went down to £600.00 ish..
    so i never did end up paying the high amount.. very scary lol:eek:
  • heathcote123
    heathcote123 Posts: 1,133 Forumite
    paulmapp8306 wrote: »


    Im hoping 2013 :) only as that5s when Im looking at buying and will have a decent deposit even on todays prices (50% ish). If there is a 25% fall over the next 18 months I could even buy cash :)


    How come youve got an 18k debt in your sig then?
  • heathcote123
    heathcote123 Posts: 1,133 Forumite
    homelessskilledworker wrote: »
    No, I am really not..

    But here is a fact... THERE IS NO MONEY LEFT

    At least to buy property at the levels they are now, people can claim that they are able to hold out forever, but that is simply impossible, over 500,000 die each year in the UK, thats a lot of houses.


    Wow, we have one sharp cookie here.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 6 November 2011 at 9:00PM
    DervProf wrote: »
    True.

    This is where you get if you worship at the altar of HPI. Low interest rates become a necessity, rather than a bonus .

    Where is the evidence? householders were paying their mortgage in 2007 when BR was 5.75% so what evidence that masses of people will suddenly fleeing for the exits at BR 3%.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • DervProf
    DervProf Posts: 4,035 Forumite
    StevieJ wrote: »
    Where is the evidence? householders were paying their mortgage in 2007 when BR was 5.75% so what evidence that masses of people will suddenly fleeing for the exits at BR 3%.

    Did I mention "masses of people" ?
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
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