Debate House Prices


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'We've reached a tipping point' Signs of house price weakness

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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Rota wrote: »
    With the UK economy getting stronger and stronger there is absolutely no catalyst for large reductions.

    And the correlation to house prices is ?
  • Rota
    Rota Posts: 167 Forumite
    Thrugelmir wrote: »
    And the correlation to house prices is ?

    Confidence and your pay packet. Mark Carney admits this has been stubborn, but the latest figures were up .8%. Compare that to when we crashed in 2008-9.
  • Rota
    Rota Posts: 167 Forumite
    Crashy_Time wrote: »
    How far do you think they will drop interest rates when it next crashes?

    They can't, but the spread between whats the banks charge, and what they borrow for is large. First this will close. You know as I do the govt will invent something to prop it up after that. After all, they have the ability to print money.

    If you are prepared to wait until a time that cant happen you are a braver man than I.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Rota wrote: »
    but the latest figures were up .8%.

    People are being auto enrolled into pension schemes. So for many this also resulting in reduced disposable income. The .8% would be wiped out by a meagre 1% contribution.
  • Rota
    Rota Posts: 167 Forumite
    Thrugelmir wrote: »
    People are being auto enrolled into pension schemes. So for many this also resulting in reduced disposable income. The .8% would be wiped out by a meagre 1% contribution.

    Possibly, next month those numbers will be stronger again, unemployment will drop more and the economy will be even stronger, confidence even higher.

    What will your negative comment be then? Economies are cyclical. With all the positive news which side of a cycle do you think we are in now?
  • Rota
    Rota Posts: 167 Forumite
    lukeh23 wrote: »
    Your question I have already answered....I would not buy in London at any point. What part of that don't you understand?

    So at which level (year) would you be prepared to buy, where you want to buy?
  • Reactor_2
    Reactor_2 Posts: 87 Forumite
    Rota wrote: »
    So at which level (year) would you be prepared to buy, where you want to buy?

    Not sure which year, but if there is World War 3 and they are bombing Knightsbridge, I'd be interested in snapping up a few properties for sale there.
    “Democracy destroys itself because it abuses its right to freedom and equality. Because it teaches its citizens to consider audacity as a right, lawlessness as a freedom, abrasive speech as equality, and anarchy as progress.”
    ― Isocrates
  • Rota
    Rota Posts: 167 Forumite
    The thing with crashes or corrections is, you never know where the bottom was until 3-4 years later, at which point you look back and think you were wrong not to buy.
  • padington
    padington Posts: 3,121 Forumite
    edited 3 August 2014 at 9:53AM
    Rent is shooting up in my London neck of the woods, 6 months ago nice 2 up 2 downs were renting for £1500, now £1700 a month is being breached.
    Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.
  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Why bother marketing your house in the summer if you know that demand (and prices) will be higher in a couple of months? What would happen if someone offered to buy it at that lower price, and you knew that (due to the iron clad laws of "supply and demand") you were taking less than you could get a couple of months later?

    Perhaps you don't know prices will be higher because you haev a young family to take care of and aren't am archair warrior.
    Perhaps the EA didn't tell you as they want the commission NOW and don't care what price you'll get.
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