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Debate House Prices
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Bad news for homeowners as house prices will not return to pre-recession peak until e
Comments
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Mr._Pricklepants wrote: »Sorry ILW, wrong again.
How come then?0 -
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HAMISH_MCTAVISH wrote: »Depends where you live.
Prices round my way have already exceeded pre recession peak.
Exactly - the EAs know their area.
Who made hogs and dogs and frogs?
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How come you would need to take out a mortgage to have any equity? I am intrigued.Mr._Pricklepants wrote: »How come what?0 -
bylromarha wrote: »Exactly - the EAs know their area.
More likely they're just desperate.
Prices will recover faster than many on here seem to think.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
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HAMISH_MCTAVISH wrote: »Except of course, that's pretty much b0ll0cks for most existing first time owners.
The price of FTB houses fell more in the crash than 2TB houses, so the gap between rungs widened instead of narrowing.
We are now seeing the reverse. The price of FTB houses rose last year by more than the price of 2TB houses. So with prices rising, the gap is narrowing.
c'mon, H
.
obviously the best thing for any homeowner would be that prices in his street [streets if he owns more than one house] quadruple overnight & everywhere else they tank.
but unless you're claiming that there's some magic law of nature dictating that, when prices fall, small houses will be hit hardest, & when they rise, small houses will go up the most, it's clear that [zzz - this one has been covered so many times in on here in such depth that it's not even annoying to see the same old first-order rubbish rubbish being trotted out, it's just meh].FACT.0 -
As a new home owner just starting a 5 year fix so ending December 2017, I don't see this as bad news at all, whether its true or not.:eek:Living frugally at 24 :beer:
Increase net worth £30k in 2016 : http://forums.moneysavingexpert.com/showthread.php?p=69797771#post697977710 -
you can only blame the person buying - obviously they thought the price was 'correct'?
Very true but in reality who pushed the prices up so high Demand?
When you sell or buy, the market balances out, in that street where your property is where like meets like, but was it the valuers that worked out the prices? the Estate Agents....0 -
Very true but in reality who pushed the prices up so high Demand?
When you sell or buy, the market balances out, in that street where your property is where like meets like, but was it the valuers that worked out the prices? the Estate Agents....
I can assure you EA's in morning meetings always discuss the days upcomming valuations and how they can arm themselves with info to pursuade a usually house proud owner to put it on at a price to sell.
An agent makes no money unless a place sells, so it's in thier interest not to over value. It's the fastest way to go broke in the business.
Furthermore lets suippose EA's have this miraculous power to direct a market of made up of millions of participants. If they sell a place for £250k they make £4375 @ 1.75%. If they achieve £260k, they make an extra £175. Would you as a businessman risk having a property unsold on your books in order to try and gain a tiny bit extra money?0
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