Nationwide June -0.6% MoM, -1.5% YoY

Thrugelmir

the_flying_pig wrote: »

& its hangover were never going to wash out of the system quickly.

Thinking of the debt burden in terms of a single mortgage. 15 to 20 years would seem a reasonable time frame to wash it through the system, and return to normality.

homelessskilledworker

moneyinmypocket wrote: »

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

Yep, 2005/2006 levels, even more real terms.

The-Joker

Generali wrote: »

I think that the housing market may be coming to an interesting point.

It was problems with the US housing market that mucked up the banks. However, it is increasingly looking like US housing has hit a bottom and that US housing could be a decent investment in yield terms at least.

If that is the case (a big if I grant you) then perhaps the foreclosed houses and those under forebearance (sp?) might start to regain value. That in turn could return some value to MBS/CDOs etc which could reflate the banking system.

That's not a prediction mind, just a possible outcome. I think the most likely outcome from here is not very nice but you never know <<<gives cheery !!!!!! van Dyke wink>>>.

So are you saying the UK property market has to fall as much as US market did before things get moving again? I think you could be right.

The-Joker

homelessskilledworker wrote: »

Right now I don't care what price these houses are selling for, all I care about is that if we could be selling two or three million of them a year right now then the knock on effect to the UK economy would be massive... Trades working, white good's, sold ,white collar work etc etc

But in reality this is only going to happen when we get the fall in prices we need(Ihave a figure in my head).

Is your figure less than £130K average? May be close to my figure then.

The-Joker

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 also am looking forward to a natural bottom

wotsthat

The-Joker wrote: »

Is your figure less than £130K average? May be close to my figure then.

At that sort of level fairly ordinary middle-class people would be buying houses and keeping them for future use by their children.

Can't see it myself. On most measures it looks as if stagnation/ slow real declines are the continued order of the day. When the economy improves, and it will, there will be a price to pay for the continued lack of building.

All fairly irrelevant to me because I measure my house value against silver and it's soaring this year.

chucknorris

wotsthat wrote: »

At that sort of level fairly ordinary middle-class people would be buying houses and keeping them for future use by their children.

Can't see it myself. On most measures it looks as if stagnation/ slow real declines are the continued order of the day. When the economy improves, and it will, there will be a price to pay for the continued lack of building.

All fairly irrelevant to me because I measure my house value against silver and it's soaring this year.

We just don't want the hassle of owning more property so we will not be buying any more unless they fall a lot (which I am not anticipating).

We don't mind this stagnation though as the rental profit ia very good with the low interest rates, we will just wait for whenever the market eventually picks up to sell. Even then we are starting to have a change of heart and will probably hold onto some properties just to ensure a diversified portfolio.

homelessskilledworker

Well somebody is being delusional, and if it is not the sellers it is the buyers. And before Wotsthat bursts into tears again, calling someone delusional is not meant in a derogatory way, I was delusional last night when I went 10 sets 400mtrs interval training and thought I would be doing them in 60 seconds, I was throwing up after four and doing closer to 70seconds.


Fact is that the property market is a dead parrot, WHY!!

moneyinmypocket

HKW - are you a rower?

wotsthat

homelessskilledworker wrote: »

Well somebody is being delusional, and if it is not the sellers it is the buyers. And before Wotsthat bursts into tears again, calling someone delusional is not meant in a derogatory way, I was delusional last night when I went 10 sets 400mtrs interval training and thought I would be doing them in 60 seconds, I was throwing up after four and doing closer to 70seconds.

Thanks for being so clear - have you thought about a job with the Plain English Society?

Sorry about the training last night - it was a bit muggy wasn't it. Running 10 x 400m in 70 secs still sounds pretty quick to me - please do keep me updated.