How can we get the housing market moving?

abaxas

ILW wrote: »

Why 3 months?

Would you also define something that sells within a week as underpriced?

3 months is the definition of normal market conditions used in the repo process.

IE there can be no come back if the property has been marketed for 3 months.

ILW

abaxas wrote: »

3 months is the definition of normal market conditions used in the repo process.

IE there can be no come back if the property has been marketed for 3 months.

The repo process is not the normal market though.

The normal market is made of willing buyers and sellers.

abaxas

ILW wrote: »

The repo process is not the normal market though.

The normal market is made of willing buyers and sellers.

That's not true. The process is designed to mimic the real market so there is no comeback for the lender. If it was anything other, people would have some comeback, which they dont have.

thorsoak

I see this in simplistic terms :-

A wants to sell his house but wants £XXXX because the new house he wants is priced at £XXXX + X .

B wants to buy A's house - but has decided that he only wants to pay £XXXX less 15% - because he's been told on fora such as this that houses are over-priced.

C wants to buy A's house at the price that A paid for it in the 1990s.

Result - stalemate. And until they all see sense, the market will remain flat.

CLAPTON

thorsoak wrote: »

I see this in simplistic terms :-

A wants to sell his house but wants £XXXX because the new house he wants is priced at £XXXX + X .

B wants to buy A's house - but has decided that he only wants to pay £XXXX less 15% - because he's been told on fora such as this that houses are over-priced.

C wants to buy A's house at the price that A paid for it in the 1990s.

Result - stalemate. And until they all see sense, the market will remain flat.

why have they not seen sense?
they have made individual rational decisions

why do you think your view is better than theirs?

shortchanged_2

thorsoak wrote: »

I see this in simplistic terms :-

A wants to sell his house but wants £XXXX because the new house he wants is priced at £XXXX + X .

B wants to buy A's house - but has decided that he only wants to pay £XXXX less 15% - because he's been told on fora such as this that houses are over-priced.

C wants to buy A's house at the price that A paid for it in the 1990s.

Result - stalemate. And until they all see sense, the market will remain flat.

So what's your view of them seeing sense? FTB's feeding the pyramid scheme again.

coastline

first time buyer chart..

Daedalus

coastline wrote: »

first time buyer chart..

The average first time home is now £50k?

coastline

Daedalus wrote: »

The average first time home is now £50k?

number of buyers..

Eellogofusciouhipoppokunu

shortchanged wrote: »

Like I've said all along renoman, there is a gap between what people are asking for houses and the amount that banks are currently willing to lend.

No what you said 'all along' was that banks "were not prepared to lend because house prices were too high", which is patently untrue and what's more, you know it is. The fact that you are now ducking and diving bares tribute to this.