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macaque_2

Will 2011 go down as the calm before the storm?

Property wealth has tumbled by 3.7% to £3,375 billion since 2006, says the Office of National Statistics.

The survey found that homeowners are in denial about the value of their properties, with many refusing to accept prices have fallen and continue to overvalue their homes and buy to let investments.
Owners reckon their homes are worth an average 16% more than the true price.

Family homes lost more value than any other property – decreasing by 12.4% compared to a market average of 4.6% of all properties.
http://www.property118.com/index.php/homes-drop-in-value-by-131-billion-in-five-years/22615/

homelessskilledworker

macaque wrote: »

Will 2011 go down as the calm before the storm?

I have posted about the some thing on numerous occasions on this board, I honestly believe that 2012 is going to a stinker, actually worse than a stinker. If the Euro goes belly up it will be even worse.

Pobby

Not a lot of good news on jobs, savings, annuities and mortgage lender. Oh and the Middle East, ah the Euro Zone. Still house prices are always on the up. Um` so people have told me. Must be inflation.

Road_Hog

Well, if it's all so bad, you lot must be snapping up the bargains. But actually no, people are digging in and saying, "no, you can't buy my house for a song, I'll wait, I'm in no hurry".

And that's the rub, you can shout about tumbling house prices all you want, but if there's none for sale, then it won't do you any good.

homelessskilledworker

Road_Hog wrote: »

Well, if it's all so bad, you lot must be snapping up the bargains. But actually no, people are digging in and saying, "no, you can't buy my house for a song, I'll wait, I'm in no hurry".

And that's the rub, you can shout about tumbling house prices all you want, but if there's none for sale, then it won't do you any good.

What is it with people on this board that they jump all over you for giving an opinion. I honestly feel like 2012 is going to be a really tough year that will probably hitting houses hard too.
If you don't think that Hog, well great!!
Just don't get all worked up with others that do.

TruckerT

I think it is extremely risky to harbour any kind of expectation about the way property prices might move in the future.

If you have a roof over your head, then you should count your blessings

TruckerT

Road_Hog

homelessskilledworker wrote: »

What is it with people on this board that they jump all over you for giving an opinion. I honestly feel like 2012 is going to be a really tough year that will probably hitting houses hard too.

Because the board is full of idiots posting the same rubbish. If you want a home that you can own, then buy a house, if not, then just get on with your life. It's all so silly, people wanting/hoping for a house price crash, people laughing at those that can't get on the property ladder.

My first house was bought in Christmas 1993, it probably went down in value for two years. I didn't/don't care, I was just happy not renting anymore. All these people wanting house prices drop, I wonder if they'll feel the same when they buy their own home. Or do they only want to buy at the bottom of the market.

Running_Horse

I'm going to take a contrarian position based on no evidence whatsoever, other than a hunch. Just like the Euro Zone crisis, withdrawing from the ERM in 1992 seemed like the latest in a series of economic catastrophes, but with the benefit of hindsight the foundations had been laid for economic recovery. Labour managed to capitalise on steady growth and take the credit for what had gone before. Just a shame they believed their own propaganda about no more boom and bust.

Dan:_4

homelessskilledworker wrote: »

I have posted about the some thing on numerous occasions on this board, I honestly believe that 2012 is going to a stinker, actually worse than a stinker. If the Euro goes belly up it will be even worse.

How about supplying a link to something that might back up your argument?

You are full of sound bites, but never actually produce any substance on the deatils on your opinions.

What does "2012 is going to be a stinker, actually worse then than a stinker" mean????

I very much doubt you will still be around this forum by this time next year, but I hope you are so I can dig up some of these stupid posts when things in 2012 turn out to be more-or-less the same as 2011.

Graham_Devon

Road_Hog wrote: »

I wonder if they'll feel the same when they buy their own home. Or do they only want to buy at the bottom of the market.

Well i can't speak for anyone else, but yes, I feel the same.

Property prices falling would be for the greater good over time. Better for the econmy, better for jobs, better for families. Better for our own children.

Not quite so good for mortgaged up to the hilt owners and banks though.

Mallotum_X

Personally I think house prices will stay pretty flat. Although probably with continued small (average) drops.

Most of the country has already been living on a tighter budget for a few years, many have been helped by the government and bank policy to keep rates low and people in their homes.

Inflation is much more likely to be what erodes house prices. The banks/government cant cope with significant nominal falls, but longer term real falls will be hidden as most people have no idea what that means.

We keep hearing that there will be significant job losses, but by and large unemployment is not massive, things are not great but they are reasonably contained, and I think the banks/governments will continue with similar policy. This is going to be a long slow drawn out process, but unless the Euro explodes into chaos then slow, steady and with low levels of pain are the way its going to continue.

I dont necessarily think this has been the best way to handle the crisis, however the policies adopted appear to be working in the way the government/banks wished them to do.