A very very very bad day for the housing market

Rover

Mystic - when are you planning on buying your third mate? I'm genuinely interested.

ds1980

ask why he hasnt bought 10-12?? if he had he wouldn't be spending his time on here.........dumbo

mystic_trev

Rover wrote: »

Mystic - when are you planning on buying your third mate? I'm genuinely interested.

2011 ?

Here's my best 'flip' Look at Number 8

http://www.houseprices.co.uk/e.php?q=TN3+0XJ&s=11&n=10


24/05/2002 £495,000 Flat L No Map Bidborough Court, 8 Apartment, Penshurst Road, Bidborough, Tunbridge Wells, Kent, TN3 0XJ

16 12/04/2001 £295,000 Flat L No Map Bidborough Court, 8 Apartment, Penshurst Road, Bidborough, Tunbridge Wells, Kent, TN3 0XJ

£200,000 profit in 13 months !

hearts

phlash wrote: »

I'll answer that this way:

Bush ignores warnings of impending disaster in New Orleans;
http://news.independent.co.uk/world/americas/article310195.ece

Omagh bombing warnings ignored;
http://www.guardian.co.uk/Northern_Ireland/Story/0,2763,614890,00.html

Warnings are often ignored, our history is riddled with examples, and quite often there are devastating consequences.

So for me, just because it hasn't happened yet, does not mean that it is proof of an argument/warning being discredited.

...and I use what Ive already said. The wee man with his placcard declaring "The end of the World is Nigh" This will come true one day just as prices will eventually stop rising. But as neither of us know when this is likely to be, then just to say its going to happen is proof of nothing.
Prices WILL stop rising but this will probably happen at different rates in different areas and Ive still not seen any signs that indicate a fall.
(In my area prices are still rising fast)

Rover

Rover wrote: »

Mystic - when are you planning on buying your third mate? I'm genuinely interested. Ans 2011 ?

Sounds reasonable. Historically, if we presume the market has peaked, 2012/3 seem more likely - but I'm sure the market will have 'talked to us' by then.

Rover

hearts wrote: »

...Prices WILL stop rising but this will probably happen at different rates in different areas......... (In my area prices are still rising fast)

Correct. And in my area - they are falling. There are also alot of 'for sale' boards that are lingering and lingering. Analysts have already accepted another 0.5% IR hike this year, and if this doesn't have the desired effect re. inflation - there will be more.

This market is all about sentiment (less so for the London areas admittedly) and sentiment is changing..............................