Has HPC website got the message?

Sibley

Homeowners will never drop their prices allowing the vultures to pick up a bargain.

Do you get it now bears?

We will not allow prices to drop. We will keep our places unti l they sell for the cotrrect money which is over 2007 peak +

Take it or pay off our mortgage.

payless

I don't usually get involved in the HPC discussions-

there is however some credence in the OP's thoughts both from a behavioural viewpoint and the lack of ability to sell below mortgage value

( IU'm not suggesting what timescales are involved)

moneyinmypocket

Here here I agree home owners stand firm don't drop your prices.

DervProf

moneyinmypocket wrote: »

Here here I agree home owners stand firm don't drop your prices.

Yes, you tell 'em.

[Deleted User]

a recent perusal of a local estate agent tells a different story,many many reductions the biggest perhaps £30k on a £120k asking price,plenty reduced by 10-15% some of them quite new to market as well,in the summer we reduced ours by a third but got a 50% saving on the home we bought,all completed in 4 weeks

moneyinmypocket

Those who reduce prices will only due so if they can afford to. Most who bought in last 7 years can't and will stay put

DaddyBear

Sibley wrote: »

Homeowners will never drop their prices allowing the vultures to pick up a bargain.

Do you get it now bears?

We will not allow prices to drop. We will keep our places unti l they sell for the cotrrect money which is over 2007 peak +

Take it or pay off our mortgage.

Link please.

brit1234

moneyinmypocket wrote: »

Those who reduce prices will only due so if they can afford to. Most who bought in last 7 years can't and will stay put

What if they get these negative equity mortgages the government is getting going. The seller can take their negative else where and drop the price for a ftb to afford.

Job done, end of thread. :beer:

treliac

One of the factors keeping house prices artificially high seems to be lenders' reluctance to repossess. If that changes, a flood of cheap repos onto the market will force prices down.

julieq

treliac wrote: »

One of the factors keeping house prices artificially high seems to be lenders' reluctance to repossess. If that changes, a flood of cheap repos onto the market will force prices down.

No it won't. Default and arrears rates are low. It's a total myth that lender forbearance is distorting the market.

There are a total of over 800,000 mortage transactions a year, and even with the 22% rise forecast for next year, only 45,000 repossessions against 180,000 mortgages over 2.5% in arrears (from the recent CML figures) out of over 11 million in total. It's a drop in the ocean.

If you want to believe that there is a general picture of householders on the edge of repossession and that when something changes there will be a flood of houses on the market, then I'm afraid you're utterly wrong. The biggest factor that MIGHT increase rates of repossession is unemployment, but even then the displaced people have to live somewhere and there will still be a strong rental market so houses will be bought to be let out and the market floor will be determined by rental yield.

moneyinmypocket

house prices are here to stay get your morage paid off today