Viewings - What Is Deemed A Good Response

deemy2004

Its more than the % drop in house prices that will effect sentiment. Its house prices relative to everything else.

I.e. say a 10% drop over 3 years

Wages go up 12%, inflation 9% ... thus the fall in house pricesin relative terms on inflation is 19% and on wages is 22% ! Which is how it will be felt.... for the asset is not only failing to keep pace, but actually falling in real terms..... Its what happened last time, when no one would touch property at a barge poll despite it being at ridiculously low prices, as it had lost its history of growing in real terms.... At the moment most people are still conditioned into thinking house prices will grow in real-terms, thus deluding themselves that

a. There ain't going to be a fall
b. If there is a fall its only going to be small i.e. 5 or 10%

But the reality is in relative terms the fall will be huge ! and have a big impact on scaring potential buyers into the burrows... But this won't be felt until its actually occured...

dougk_2

I am happy to argue / discuss things and I agree Mean Machine and deemy have different views to me - but then thats the whole point of discussion boards. I still feel that the main reason for any crash/drop will be because of scaremongering.

Nelly - If you want to discuss things as an adult and submit more than a brief sentance and produce reasoned arguments then fine, otherwise please grow up. I have explained before my position and just resulting to childish attacks get's nowhere. You have in the past made it very clear you won't buy unless prices drop and you would rather spend than save (which is the opposite of what this board is about).

What annoys me is whatever is being posted on this board (house buying, selling) turns into a debate about house price crashes or rises and the same thing cycles round. Lets please give up on this argument and WAIT and see what happens. NOBODY knows what is going to happen, if they did we wouldn't be having this whole discussion.

Lets just answer peoples questions and help them.

KrazyFool

jeez i dont give a damn, its supposed to be about having a home to live in not just about trying to make a profit, have a go at those are in it just for the money like those who have a 2nd property they rent out reducing the number of houses for sale. they give out advice saying renting is a waste of money yet they are one of the culprits. As ive said i dont give a damn, when im good and ready, my job is secure, family are happy & ive seen a house we love, we go for it. It works both ways you buy a house at high prices but you can sell yours too. Lifes for living...

frugal_dougal_3

deemy2004 wrote:

.... Its what happened last time, when no one would touch property at a barge poll despite it being at ridiculously low prices, as it had lost its history of growing in real terms....

I've bought in a slump
I've bought in a boom
I've sold in a slump
I've sold in a boom

Long term I don't think it's made any difference to my finances, it's all swings and roundabouts. I've now lived through three property booms, they come and go and life goes on.

Those who really want to buy will find a way to do it. Presumably people like meanmachine who are self employed would be able to relocate to find something affordable. I was going to offer him help but he didn't answer the question as to whether he would actually go ahead if there was something in his price range.

Murtle

meanmachine wrote:

But they were 80K only four years ago. What's changed in the last four years? Have wages increased by 300% in that time? No. All that's happened is that debt has become cheaper.

If interest rates go back to their historical average of 8%, who could afford a property 5.5 times the average salary? No one.

Not in my part of the SE they weren't 80K :eek: I wish they had been, but they are more then that now, and still being bought rather quickly...in fact, two places where I live are on the market...the higher priced one SOLD first...

meanmachine_2

frugal_dougal wrote:

Those who really want to buy will find a way to do it. Presumably people like meanmachine who are self employed would be able to relocate to find something affordable. I was going to offer him help but he didn't answer the question as to whether he would actually go ahead if there was something in his price range.

Sorry, I thought I did respond.

As I'm anticipating major falls in the housing market, on top of my current uncertain income levels, no I'm not going to buy.

But I'm not buying to invest, so it's more to do with my personal circumstances that stop me considering buying.

Plus I'm a stingy git, so am not prepared to pay over the odds for anything, let alone a property.

Sput2001

frugal_dougal wrote:

I've bought in a slump
I've bought in a boom
I've sold in a slump
I've sold in a boom

Long term I don't think it's made any difference to my finances, it's all swings and roundabouts. I've now lived through three property booms, they come and go and life goes on.

It doesn't work for everyone, though... It wasn't so long ago that there was a boom, followed by huge interest rate rises and an accompanying slump. People couldn't afford to repay their mortgages and ended up either with negative equity, or having to sell for less than they bought.

I would say that talk of an imminent major price collapse is (probably)scaremongering. Given that the economy is reasonably stable and interest rates are low and don't look like rocketing, it's hard to see what would trigger a major price slump. Daily Express and Mail readers will probably disagree!

(And I'm NOT an estate agent or similarly interested party, before anyone asks).

dougk_2

Back to the question asked...........
Two or three viewings a week would be reasonable in my view.

KrazyFool

btw F_D, is that where you live? looks very nice, nice'n'remote too

meanmachine_2

NickMidgley wrote:

I would say that talk of an imminent major price collapse is (probably)scaremongering. Given that the economy is reasonably stable and interest rates are low and don't look like rocketing, it's hard to see what would trigger a major price slump. Daily Express and Mail readers will probably disagree!

Sure. The last housing slump was caused by a recession, and carts pull horses not the other way round.

Unfortunately, the way I remember it is a little different. Everything looked rosy until houses stopped becoming affordable. The market flatlined, then took a nose dive, consumers stopped spending, people lost their jobs and boom. Recession.

Remember remember remember, house prices started falling before the last recession. They DIDN'T fall as a result of it. At least, not initially.

And now what do we have? Repos are up, profit warnings are being issued by retailers, loan approvals are through the floor, the market is flatlining. Yep, brings back memories.