Nationwide June -0.6% MoM, -1.5% YoY

moneyinmypocket

More stagnation which is ok since we are in tough times - get ready for a big boom

homelessskilledworker

the_flying_pig wrote: »

we all know better than to make strong predictions by now but i'd not be at all surprised to see quite a few more years of this, i.e. low transaction volumes & static or gently falling prices. the absurd noughties credit expansion [global but stronger than most in the UK] & its hangover were never going to wash out of the system quickly.

Biggest problem we have in the UK when it comes to the property market is the deluded seller who thinks that we are still in pre 2008 times, and if he does not think that then he is hoping we go back to then.

Sellers can except and justify when prices rocket, but seem to have a mental block when excepting it can also go the other way, I know I have done it myself.

Our UK economy will pick up a lot faster when we find our natural bottom and then start growing again without having to interfere, I suspect the USA are nearly there, and I suspect they might start getting some real growth soon. If we are not carefull we are going to spend the next decade mollycoddling the over indebted homeowner while the UK gets worse

wotsthat

homelessskilledworker wrote: »

Biggest problem we have in the UK when it comes to the property market is the deluded seller who thinks that we are still in pre 2008 times, and if he does not think that then he is hoping we go back to then.

Sellers can except and justify when prices rocket, but seem to have a mental block when excepting it can also go the other way, I know I have done it myself.

Our UK economy will pick up a lot faster when we find our natural bottom and then start growing again without having to interfere, I suspect the USA are nearly there, and I suspect they might start getting some real growth soon. If we are not carefull we are going to spend the next decade mollycoddling the over indebted homeowner while the UK gets worse

Why is the deluded seller the biggest problem in the UK property market? If someone puts a house up for sale at too high a price it won't sell - what's it to you? I can't see how sellers reducing prices by x% en masse would do anything for the property market or economy. (I can see how it would benefit you personally though)

In real terms prices are well down from peak and affordability ratios are near long term averages and yet transactions remain low. That should indicate that deluded sellers might not be as big a problem as you think.

Are all homeowners over-indebted and mollycoddled? It's just that it's sounds like a tired soundbite with no substance.

ukcarper

homelessskilledworker wrote: »

Biggest problem we have in the UK when it comes to the property market is the deluded seller who thinks that we are still in pre 2008 times, and if he does not think that then he is hoping we go back to then.

Sellers can except and justify when prices rocket, but seem to have a mental block when excepting it can also go the other way, I know I have done it myself.

Our UK economy will pick up a lot faster when we find our natural bottom and then start growing again without having to interfere, I suspect the USA are nearly there, and I suspect they might start getting some real growth soon. If we are not carefull we are going to spend the next decade mollycoddling the over indebted homeowner while the UK gets worse

I don't see that if they really want or have to sell it doesn't matter if they think their house is worth more than it is if they will have to accept today's price.

If they don't have or want to sell they can think what they like it makes no difference.

Graham_Devon

wotsthat wrote: »

Are all homeowners over-indebted and mollycoddled? It's just that it's sounds like a tired soundbite with no substance.

Well it's a good job homeless said nothing of the sort, and indeed, no one else did either.

homelessskilledworker

wotsthat wrote: »

Why is the deluded seller the biggest problem in the UK property market? If someone puts a house up for sale at too high a price it won't sell - what's it to you? I can't see how sellers reducing prices by x% en masse would do anything for the property market or economy. (I can see how it would benefit you personally though)

In real terms prices are well down from peak and affordability ratios are near long term averages and yet transactions remain low. That should indicate that deluded sellers might not be as big a problem as you think.

Are all homeowners over-indebted and mollycoddled? It's just that it's sounds like a tired soundbite with no substance.

Sellers don't have to sell, buyers don't have to buy, sellers can want £10 billion for a two bed terrace, buyers can want to buy a palace for 79p.

SO WHAT!!

It's only a property internet board, there is no right and wrong about it all, nobody is guilty of anything. I just happen to think that property prices need to find a natural level before we start getting the types of people that should be buying, buying!!
And the data proves my point, the housing market is dead.

Get off your high horse lad:)

homelessskilledworker

ukcarper wrote: »

I don't see that if they really want or have to sell it doesn't matter if they think their house is worth more than it is if they will have to accept today's price.

If they don't have or want to sell they can think what they like it makes no difference.

Yes you are 100% right???


And?

Mr._Pricklepants

Graham_Devon wrote: »

Well it's a good job homeless said nothing of the sort, and indeed, no one else did either.

It's clear what he said:

homelessskilledworker wrote: »

If we are not carefull we are going to spend the next decade mollycoddling the over indebted homeowner while the UK gets worse

Read.
Read it again.
Then come back to us.

moneyinmypocket

Wishing for house prices at 2000-2002 levels is like trying to fill your car up at 2000-20002 prices - madness it's 2012 prices are what they are

ukcarper

homelessskilledworker wrote: »

Yes you are 100% right???


And?

"Biggest problem we have in the UK when it comes to the property market is the deluded seller who thinks that we are still in pre 2008 times, and if he does not think that then he is hoping we go back to then."

What was the point of that then.