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

Jason74

h

Blooloo wrote: »

so far.

Anyone would think winning was what everyone in the BTL game has done.

Its what mortgage sellers want you to beleive.

Its what the housing market course sellers want you to beleive.

It isnt true for many..

but dont mention that...its going to jinx the market.

clearly, pricing everyone out of the market but a favoured few is going to raise a few hackles, bust a few banks...but who cares..some people got wealthy...some shot themselves and their families, who cares.

I actually agree with your sentiments in this post. I think that rampant HPI is socially catastrophic, and am seeing first hand the very negative effects it has in London. My vote in next years election will be decided primarilly on the basis of which party seems most serious about tackling all aspects of the housing crisis (from more building, through to better protection for tenants in the PRS, and ideally, serious attempts to make BTL less attractive). A look through my comments on this and several other threads makes it clear that the increased value of my own home is not something I see as a particular benefit, and while broadly agreeing with posters like Hamish and Andy on this thread, I'm at the same time on the "other side" to them in debates on other threads.

I even have a lot of sympathy with the HPC view that we have a rigged market. While the Bank bailouts and cuts in interest rates were "least worst" solutions imho, FLS (for Mortgages) and HTB(2) were imho outrageous policies that should have never been implemented. But you and I cannot change that, and if we do indeed have a "market" that is effectively rigged to benefit one group of people and disadvantage another, then surely the rational thing to do is to be on the "side" of that trade which is benefiting.

Of course, more and more people are locked out of having any choice in that matter (and I fully expect to see serious social unrest in due course as a direct result), but to wilfully put yourself on the wrong side of that trade as some seem to choose to do makes no sense to me.

ukcarper

Crashy_Time wrote: »

Good idea. Care to show us the numbers?

There is one flat you linked to that's is up for £65k now and sold for £43k in 2004 that's 30% less that would make the first flat you linked to about £47k in 2004.

Crashy_Time

ukcarper wrote: »

There is one flat you linked to that's is up for £65k now and sold for £43k in 2004 that's 30% less that would make the first flat you linked to about £47k in 2004.

Ok, how about crunching the numbers for sales at the peak (2007)? I`m guessing this one went for a bit more at peak
http://www.rightmove.co.uk/property-for-sale/property-46607885.html

ukcarper

Crashy_Time wrote: »

http://www.rightmove.co.uk/property-for-sale/property-46862540.html


The home makeover shows have a lot to answer for. LOVE the taps, but it is still Wester Hailes (no offence Wester Hailes)

Still they sold it for £17k more than they paid a year ago.

System

ukcarper wrote: »

Still they sold it for £17k more than they paid a year ago.

That's a tidy profit for a 1 bed flat in a slum

http://www.zoopla.co.uk/property/15/2/murrayburn-green/edinburgh/eh14-2pl/8155517

ukcarper

Crashy_Time wrote: »

Ok, how about crunching the numbers for sales at the peak (2007)? I`m guessing this one went for a bit more at peak
http://www.rightmove.co.uk/property-for-sale/property-46607885.html

We all now it's not so good from the peak but you have been renting for 17 years and I bet all those flats were a lot cheaper it 1998.

wotsthat

Crashy_Time wrote: »

http://www.rightmove.co.uk/property-for-sale/property-42459785.html


Realism, with a slight whiff of desperation creeping in?

Sold STC £55k. 2004 probably £35k?

You've spent too much time trotting out stuff that everyone either believes or can't be arsed to check. You have no idea about prices in your own area - I live 300 miles away and it takes literally seconds to check.

Crashy_Time

http://www.rightmove.co.uk/property-for-sale/property-31889139.html


This one is interesting because they are playing up the tram connection (as opposed to the Sean Connery/Castle/Parliament/shortbread connection) Stenhouse was a big BTL area when it all seemed so easy, back before the initial collapse, and I would be happy to rent this house for about 600 p.m

wotsthat

Crashy_Time wrote: »

Ok, how about crunching the numbers for sales at the peak (2007)? I`m guessing this one went for a bit more at peak
http://www.rightmove.co.uk/property-for-sale/property-46607885.html

It's like Rightmove Bingo.

Can't find it but would agree it went for more at peak (the word 'peak' is a clue).

Somewhat less in 1997.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

http://www.rightmove.co.uk/property-for-sale/property-31889139.html


This one is interesting because they are playing up the tram connection (as opposed to the Sean Connery/Castle/Parliament/shortbread connection) Stenhouse was a big BTL area when it all seemed so easy, back before the initial collapse, and I would be happy to rent this house for about 600 p.m

Wow that really proves how much better off you are renting for over 16yrs..... Well reasoned argument crashy..... Well done:rotfl:

How's this for a point?

You've spent over 80k in rent when you could of bought for about 60k factoring in interest.... You would now be living rent free.... Better again you'd actually have your own bathroom rather than having to bog brush the loo after your crackhead housemate has been for a dump.