Has HPC website got the message?

treliac

julieq wrote: »

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.

I do believe there are many who are living on the edge and it wouldn't take much to tip them over, be it unemployment, eventual interest rate rises or losing the battle against the cost of living. Time will tell.

brit1234

moneyinmypocket wrote: »

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

But aren't prices falling???? :think:

moneyinmypocket

doesnt really matter if they are down a % here or there does it? still better off than renting

chewmylegoff

worst thread of the year

julieq

treliac wrote: »

I do believe there are many who are living on the edge and it wouldn't take much to tip them over, be it unemployment, eventual interest rate rises or losing the battle against the cost of living. Time will tell.

But on what basis do you believe it? It looks like religious faith, because the actual numbers don't lead to anything approaching that conclusion.

I live in one of the most expensive parts of the country, but I don't see people struggling with the cost of living at all. It's pure fantasy- land stuff to think that rates rising to the point they were at pre crisis or even beyond will cause significant problems, and the studies lead to other conclusions anyway - I posted a link earlier to a report that demonstrated that, but there are other broad based studies that show that relatively low levels of increases in arrears follow from interest rate and cost of livings rises.

It reminds me of the Rapture predictions. Confident predictions, nothing happens, find an excuse and make a new prediction. Rinse and repeat. Time will tell indeed, but not if you continually change the frame of reference.

zenmaster

woodbine wrote: »

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

But that is only in areas in which noone wants to live, according to Nationwide.

“Most English regions ended the year with prices higher than Q4 2010. Only the North and North West saw price falls, with average prices down 1.0% and 1.2% respectively.

“Scotland saw no change in prices during the quarter, and the annual rate of change remained negative at-0.8%.

“Wales saw a 0.9% fall in prices in Q4. However, thanks to strong growth in previous quarters, average prices ended the year up 1.5%.

And, as I recall, you bought a mobile home which, strictly speaking, should be monitored on caravanpricecrash.com.

treliac

julieq wrote: »

But on what basis do you believe it? It looks like religious faith, because the actual numbers don't lead to anything approaching that conclusion.

I live in one of the most expensive parts of the country as well.

My opinion comes from what I know from friends, relatives, neighbours and my work.... how many say they are struggling, fragile and having to cut back in order to survive.

I am aware of people who wanted bigger and better and were prepared to mortgage themselves up to the hilt, using their equity to get further into debt, believing that house prices would always rise and not facing up to the reality of a pay back time.

moneyinmypocket

although my opinon is in isolation (like many on here) I over heard a couple I know a bit talking about cutting back while looking through holiday mags, there cutting back from 3 holidays abroad to 2. I suspect there not alone in "cutting back" like this but still doing very well

Thrugelmir

moneyinmypocket wrote: »

I suspect there not alone in "cutting back" like this but still doing very well

As people cutback a little. Then its less commercial and employment activity for somebody else. More importantly though less profit. What goes around comes around as they say.

treliac

Thrugelmir wrote: »

As people cutback a little. Then its less commercial and employment activity for somebody else. More importantly though less profit. What goes around comes around as they say.

Hasn't too much of the economy been based on the debt-fuelled years though? Thus the inevitability of a downward spiral now.