We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
talk of end of year property crash in London...
Deals_2
Posts: 2,410 Forumite
what are people's thoughts on the matter.... apparently for every house there are 8 buyers.... so pushing prices up...
0
Comments
-
2008 According to Fred Harrison.
Sometime soon according to mystic_trev0 -
Tbh, there's been talk of a property crash every year for years. I don't take any notice anymore.
You can tell for yourself when the market is slow and when it's fast. As far as I'm concerned, it's irresponsible to keep making these predictions (because that's all they are, at the end of the day - only time will tell what's going to happen) - it causes panic, it mucks up the market and could well cause a problem by its' scaremongering.
Use your own intuition - and remember that there's always a mid year and end of year lull, it doesn't mean it's all going bits up though
0 -
I think a lot of people still remember the price crash in the 80's and living in London at the time was bad, I used to walk the 2 miles to work because I got fed up with them scraping the people off the tube tracks. The reports were inevitably of people defaulting on mortgages etc, they seemed normal people, just caught up in a situation which had gone crazy. Practically every economist admits the market is overheated and there will be a downturn, the question is will it be a soft landing or a crash. God forbid.
Also remember at one stage the interest rate was something like 18%.
Also with Alan Greenspan scaring the wits out of America and the reports the last few days about the USA defaults on mortgages - it doesn't look good. After all when america coughs........0 -
who is fred harrison?mystic_trev wrote: »2008 According to Fred Harrison.
Sometime soon according to mystic_trev0 -
LOL yes - 2 Russian gangsters, 1 each American, Japanese, Chinese, Colombian, Nigerian, and Romanian gangsters... (sorry if I missed anyone).what are people's thoughts on the matter.... apparently for every house there are 8 buyers.... so pushing prices up...
Serious point is that todays assets are tomorrows debts - are UK salaries eventually going to catch up with property prices (and who's going to buy from us if they do), or will property revert to "ye goode olde dayes" (thanks NuEdwardian party**) where next to nobody can actuallly flog it, so they're stuck with donating IHT every generation.
** I'm not really going to be affected by NuEdwardians/Lab(lol), but I do think they have stuffed the country for many years to come.0 -
This "8 buyers for every house business" sounds suspicious.
How is this calculated? Is this estate agents saying how many buyers are registered with them, vs the number of properties that they have on their books? I suspect it is. If so, this is an inaccurate figure, as many buyers are registered with lots and lots of EAs.
They've been predicting a crash for the past five years. If you house is your home, you paid the price the market dictated at the time. As long as you can afford the mortgage, then there is no need to worry. There has been no five year period in the UK when house prices have gone down -but if you're really worried, why not start saving for a rainy day, if it comes?Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
8 buyers to every house <
okie dokie
Theres a reason why only the truely stupid belive anything an estate agent says.
Intresting viewing 0 -
8 buyers to every house <
okie dokie
Theres a reason why only the truely stupid belive anything an estate agent says.
Intresting viewing
Yep... apparently it's a load of Polish workers earning £5 per hour buying them?:rotfl:0 -
8 people want to buy a house for each one on the market I assume, 7 can't afford it.
250 people want to buy each Ferrari on the market. I'm one of the 249 without the readies.0 -
It will be pretty soon we'll see on newspaper headline
"Bank now offer mortgage at 7 times salary"
Somehow i felt the same as majority of ppl in the market, the house market will never crash because the interest is no where near 18% and there are 8 buyers for 1 house. think my last resort is get a job elsewhere and move out of the UK.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards