It's finally here... the start of the long awaited property crash

homelessskilledworker

A small vocal minority started making a lot of noise in 2003, by about 2005/06 a few more started getting nervous or very suspect about the whole bubble, even Gordon Brown used the word Bubble that year. By 2007 it all went tits up and the government did what in poker terms is called ALL IN, we have since been putting off the inevitable even though there were a few voices still ramping property.
Economic conditions back in 2005 said that the bubble was ready for bursting but public sentiment was having none of it. Today in 2011 public sentiment says the game is up along with every san voice out there with the economy even worse than 2005 with 2012 certain to go down hill even more.

Good bye housing bubble, lets hope that it remains in the history books like the tulip bubble.

Dan:_4

This is getting boring. Nevertheless, thread bookmarked for another laugh in 12 months.

The_White_Horse

er, where is this from? The BullSh1t Times?

so boom and bust is cyclical. some people have been saying for a decade that house prices will crash. and now, after a decade of predictions house prices have fallen very slightly in some areas (and continue to rise in others). So the house in 2003 that was worth 150k is now worth 450k, down from 480k at peak. Big Deal. I bet the person who didn't buy the house in 2003, spent about 100k on rent and the house is still triple what they could have bought it for is well pleased.

laughable.

and i am not a bull at all. i think prices will simply stagnate for years.

Dan:_4

The_White_Horse wrote: »

er, where is this from? The BullSh1t Times?

so boom and bust is cyclical. some people have been saying for a decade that house prices will crash. and now, after a decade of predictions house prices have fallen very slightly in some areas (and continue to rise in others). So the house in 2003 that was worth 150k is now worth 450k, down from 480k at peak. Big Deal. I bet the person who didn't buy the house in 2003, spent about 100k on rent and the house is still triple what they could have bought it for is well pleased.

laughable.

and i am not a bull at all. i think prices will simply stagnate for years.

First sensible post Mr Horse - top marks sir.

ruggedtoast

It's looking like we may have seen the end of the era of aspirational home ownerism.

Prices will drop, but its looking increasingly unlikely that at some point on the demand curve we'll reach a sudden explosion of buying. Mortgages are scarce and the shortage of housing is making a floor of sorts.

nollag2006

Have a look at this coverage from London Tonight on the madness of this sort of nonsense:
http://www.housepricecrash.co.uk/forum/index.php?showtopic=246

Poor old Rheinhard in the video claims he sold his 3 bed in Aldgate, and made £95k, in 2003. Assuming he'd held onto it, he'd be sitting on another gain of £100k+. Instead, he beggared off on a round the world trip for a year and has probably priced himself out of the market for good.

Big mistake!! As Kirsty said, quite saliently "that sort of thing is so irresponsible".

The fact is that there was a crash in 2008, and house prices are still well up on their low point of 2009. It's been flat for 2011, so we should start to see prices start to raise up again in 2012.

Mallotum_X

nollag2006 wrote: »

... so we should start to see prices start to raise up again in 2012.

On what basis should that happen?

GlynD

Has nobody remembered that this has all happened before?

julieq

Happens every Christmas in fact, the uber-bear du jour turns up and explains the next leg down is about to start. We bookmark it and come back for a laugh on Christmas Eve. Usually ends up in drunken mayhem and a midnight lecture on the evils of fractional reserve banking from a spotty 17 year old who's been reading 9/11 conspiracies on Youtube.

doire_2

nollag2006 wrote: »

Have a look at this coverage from London Tonight on the madness of this sort of nonsense:
http://www.housepricecrash.co.uk/forum/index.php?showtopic=246

Poor old Rheinhard in the video claims he sold his 3 bed in Aldgate, and made £95k, in 2003. Assuming he'd held onto it, he'd be sitting on another gain of £100k+. Instead, he beggared off on a round the world trip for a year and has probably priced himself out of the market for good.

Big mistake!! As Kirsty said, quite saliently "that sort of thing is so irresponsible".

The fact is that there was a crash in 2008, and house prices are still well up on their low point of 2009. It's been flat for 2011, so we should start to see prices start to raise up again in 2012.

Is this you posting a link from HPC?

Yet on post 2 you thank the poster for slagging those that do it.

https://forums.moneysavingexpert.com/discussion/3673903

doire_2

julieq wrote: »

Happens every Christmas in fact, the uber-bear du jour turns up and explains the next leg down is about to start. We bookmark it and come back for a laugh on Christmas Eve. Usually ends up in drunken mayhem and a midnight lecture on the evils of fractional reserve banking from a spotty 17 year old who's been reading 9/11 conspiracies on Youtube.

Do you get your knickers in a twist when sibley does the same? Naw thought not