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What Crash ?
Comments
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I can't see any signs of this crash that the doom and gloom mongers keep banging on about?
Is the penny finally dropping? This is TODAY's news.0 -
Oh please, the maturity in your petty name calling says more about you than I ever could....
I don't want to start comparing educational certificates on here with you, but judging by your posts, i've no need to...
You want the housing market to crash so you can "laugh my knackers off at all the sob stories" because thats all you've got it your sad little life to keep you amused... well I for one don't wish to see families out on the street bankrupt and eating scraps out of the bin so if that makes me thick, so be it....
I can't even talk about what that makes you, but moron doesn't even start to do you justice!
M,
Far too much anger to waste on someone with serious (@n@l) retention problems....In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
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I can't understand why a crash is seen as a bad thing. The fact is that the majority of Britain's people (both homeowners and non homeowners) will be better off. Lower prices mean FTBers have a chance and existing home owners will find it easier to go up the ladder. The only people who will get trashed are the BLTers who probably deserve it anyway (the good ones will already have made their money).
Bring on the crash and monitor www.housepricecrash.co.uk to view it in realtime!.0 -
HAHA,
I feel privileged, I also got a PM from the gimp boy...
I replied accordingly
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Oh please, the maturity in your petty name calling says more about you than I ever could....
I don't want to start comparing educational certificates on here with you, but judging by your posts, i've no need to...
You want the housing market to crash so you can!
Pay a sensible price for housing <---- Thats why!
I'll tell you my education right now........virtually non
And you are thick .....thats not childish name calling its me letting you know that advocting paying top whack for housing is stupid.....and it is.
Would you tell people to go out and pay the most expensive price for any other product?0 -
dannyboycey wrote: »
Well of course it had to happen.I have been banging on about all markets correcting proven by history.Here comes another correction.
Why in the world would some people think that housing is unique and house prices will keep rising beats me.
Oh and whilst I am here,does anyone wiser than myself understand how Gordy has done away with boom and bust?!0 -
I can't understand why a crash is seen as a bad thing. The fact is that the majority of Britain's people (both homeowners and non homeowners) will be better off. Lower prices mean FTBers have a chance and existing home owners will find it easier to go up the ladder. The only people who will get trashed are the BLTers who probably deserve it anyway (the good ones will already have made their money).
Bring on the crash and monitor www.housepricecrash.co.uk to view it in realtime!.
You need to think it through a bit more. FTB won't be able to buy because a) with dropping prices banks will tighten lending criteria and income multiples = still cant get the mortgage to buy it AND b) nobody will be selling if they will be in negative equity from it.
Same reason it won't be 'easier to move up the ladder', if your going to be in negative equity you just plain can't sell. Consider how many people have MEWed during the last few years too. Consider recent FTBs who will have bought a small 2bed flat/house to 'get on the ladder' and want a 3-4bed house in a couple years for family. These smaller houses will be the hardest hit theoretically in a crash (as they have risen the most). These people won't be able to sell so hence can't move up.
Your also glossing over the much farther reaching consequences of a crash. Alot of pension money, investment money, etc (I dont just mean BTLs either) is invested in property market. Alot of jobs are reliant on the property market, all these people unemployed will have a big effect on the economy. A reasonable size crash = recession or even depression.
Based on even just the above (there is alot more if you think about it) I can't see how homeowners OR non-homeowners will be 'better off' at all with a crash. I dont disagree one has to happen or will happen BTW, because something has gotta give really.0 -
As kingkano said a property crash will work in tandem with a recession as happened last time.The fact that interest rates could reach 7%,this will have the effect of IRs reaching 15% in the 90s.
Imho,this period of super low interest rates have done nothing more than stem off a recession that could have started in the early part of the decade.However these rates have done little more than distort markets.
When the government changed the laws regarding bankruptcy they shot themselves in the foot.The idea was to encourage people to start their own businesses but sadly some,and don`t flame me,I said,people have seen it as an easy way out.Couple that with the lending houses throwing money at people,it`s not surprising that bankruptcies and house repos are going threw the roof!0 -
As kingkano said a property crash will work in tandem with a recession as happened last time.The fact that interest rates could reach 7%,this will have the effect of IRs reaching 15% in the 90s.
Imho,this period of super low interest rates have done nothing more than stem off a recession that could have started in the early part of the decade.However these rates have done little more than distort markets.
The UK economy is currently growing at 3% per annum, and is expected to keep growing at 2.5% per year for the next few years. Where exactly is this recession you are talking about?
Interest rates are currently 5.5%, so it could take two years for rates to hit 7%, if they ever do.
Quite honestly, I am amazed by all the doom and gloom that people write about in this forum. I guess many people want a recession and cheaper house prices. The problem is that a recession will cause higher unemployment levels in those people looking to buy.0
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