House price crash news

[Deleted User]

Dithering_Dad wrote: »

The trouble is that unless you can find a large enough terrace, as soon as you start having pups, you outgrow the house and it becomes an ordeal. If you do have a large enough terrace, when the pups grow up and leave then you rattle around in the house!

Also, if you live in a terrace and have awful neighbours then it becomes a nightmare of banging on walls, phoning the police, trying to find a parking space, etc, etc. No, better to get an interest only and get that detached house with garage and driveway!!

Wack the pups in a kennel outside

HenryWeston

Doozergirl wrote: »

"Something’s definitely not right – I can just feel it in my waters."

:rotfl:

never underestimate sentiment in any market

JBeau

Dithering_Dad wrote: »

yes, but that's not a basic need. We all require shelter, but we don't NEED to own the shelter.

That's very true we do not NEED to own the shelter BUT..........this is not how the British public view things. A hard one to change IMO.

dean_ham

pinkshoes wrote: »

I was a bit young during the 80s market crash, but low and behold, everyone i know that had a house then, still has a house now... if the market crashes, then it'll no doubt build itself back up again, and so long as people don't borrow beyond their means, and so long as people are sensible enough to have savings to cover periods of high interest, then I think people are fretting and getting their knickers in a twist over nothing. Only those who borrowed irresponsibly and beyond their means will suffer..

But people are borrowing beyond their means, lots of people!!!!!
Alot of people arent sensible enough to save to cover hard times!!!!!!
People are fretting because they realise that if interest rates continue to rise they wont be able to afford their lifestyle or in worst cases afford their home full stop!!!!
Only people who borrowed irrespnsibly and beyond their means will suffer... yep alot of people and i personally think the ones who borrowed on 125% mortages over 40 years deserve it.

CheeseOnToast

dean_ham wrote: »

yep alot of people and i personally think the ones who borrowed on 125% mortages over 40 years deserve it.

Why would anyone DESERVE it?

It's the banks faults for lending irresponsibly!

I don't think anyone deserves the stress and upset that it would case, but it undoubtley will be the group you mentioned.

baby_boomer

JBeau wrote: »

That's very true we do not NEED to own the shelter BUT..........this is not how the British public view things. A hard one to change IMO.

2006 saw the start of such a change, with 25,000 fewer owner occupied dwellings.

Although there's no obvious connection beween this and any possible crash, IMHO.

mystic_trev

CheeseOnToast wrote: »

Why would anyone DESERVE it?

It's the banks faults for lending irresponsibly!

You'd be surprised how many people have been falsifying Self Certs, and other Mortgage applications. I can see many of them being issued with Court proceedings (Criminal and Civil) once they can't keep up with their repayments!

dean_ham

CheeseOnToast wrote: »

Why would anyone DESERVE it?

It's the banks faults for lending irresponsibly!

I don't think anyone deserves the stress and upset that it would case, but it undoubtley will be the group you mentioned.

People dont have to borrow upto their eyeballs just to have the house they "want", they should borrow to have a house they can "afford"

Yes banks fault for lending irresponsibly but ultimatley its the publics fault for taking the bait keep pushing the prices up and up and up untill IR goes up to correct inflation, banks have wised up and now only offering 90-95% mortages fearing they wont get their money back, less people can afford houses on 90-95% mortages + higher interest rates = lower demand in houses

Ems*Honie

Why is it, on nearly every thread that brings up the term 'BTL' , some people can only justify there point by calling btlers insulting names. Very sound , grown up way of articulating yourself. It's not something you see on other parts of MSE really, it's just mainly on this board, despite the fact a few of the posters that contribute some brillaint advice are BTL'ers themselves. Still, if it makes for a better point.....

mystic_trev

Ems*Honie wrote: »

Why is it, on nearly every thread that brings up the term 'BTL' , some people can only justify there point by calling btlers insulting names. Very sound , grown up way of articulating yourself. It's not something you see on other parts of MSE really, it's just mainly on this board, despite the fact a few of the posters that contribute some brillaint advice are BTL'ers themselves. Still, if it makes for a better point.....

There are some insulters, but many such as myself have a genuine concern. I'm a long term Landlord and well aware of the risks, the majority of newbie BTL think it's a one way ticket to make money. Most of these people would never dream of investing in a highly leveraged financial product, but they are doing worse than that. They are investing in a neagative geared product. When the down turn comes, many of these wil lnot only lose their "Investment" but also their home which have been used as for security.Many will face bankruptcy and will then (no doubt) turn to the DFW board to complain it was the Banks fault for lending them the money!

BTL is a business NOT an investment covered by the FSA.