MSE News: House prices 'still uncertain', Halifax says

jayphe

business_man wrote: »

Well lets be honest here for a minute, if "brit1234" had such a valuable insight into property market, he wouldn't be a FTB, he would have a multi-billion pound fortune....

I call reductio ad absurdum.

brit1234

chucky wrote: »

Ok then Mr Crystal Ball Fortune Teller, they may fall but I definitely won't be taking your word for it that house prices in London will drop after the Olympics only because I've seen your previous predictions and they've been completely wrong. Do I need to remind you of them?

Really, I said the crash would happen years ago, I wasn't believed and then it crashed. Interest rates were slashed to prop unsustainable prices and slow down the crash but the market is correcting itself and forcing borrowing rates up and prices have continued to fall.

neas

Brit you've been saying house prices will essentially 'nose-dive' since 2007 or so.

You continued predicted 50% falls within a few years....

If someone playing roulette says "The next number will be 11" keeps saying it every time the ball is rolled..... then eventually they will be right

Your 'prediction' has been modified over time... along with your strike.

As predicted by myself ... the fall will be long and slow meaning it wont be a 'shock' fall that makes the economy unstable.

Inflation will help as well.. with inflation 2-4% and property falling slowly or flat.. houses/property in most areas will hopefully get cheaper for all.

Your predictions were wild and well biased. I bit the bullet in 2010 to purchase and 2 years later not much movement in the sold prices for 3 houses in the same road (one of them went for 10% more than average weirdly). For that 'risk' I took I have got the enjoyment of my own place. It may be different from where you are but at 3x my salary the property (along with a nice deposit saved from 2007 to 2010) was enough to get on the ladder. I wasn't greedy trying to get to 2x salary or something .

I'm also now saving another deposit for student BTL as with these low rates fixed mortgage (for 10 years) is 700 quid a month... but rental income is 1800!

My prediction is a continued stagnation/small decline taking 5 more years to finally bottom out. Property isn't going to rise anytime soon but hopefully it will get more affordable for other people. In 5 years time then yes properties would be around 20% less.. but you've got to wait 5 years paying rent and having job uncertainty while rest of us take advantage of low rates and pay off our mortgages quicker