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

ukcarper

Crashy_Time wrote: »

No. I think the seller is starting to get realistic about the market, and that it will likely drop in price further.

So you admit newbrit's post is rubbish.

Crashy_Time

ukcarper wrote: »

So you admit newbrit's post is rubbish.

Well the bit about "high end" is. It is a poorly constructed new build with a driveway that looks like it was done by Gypsies on the make.

ukcarper

Forget the house it's clearly overvalued but would the buyer of a 5 bed detached be a FTB with a 100% mortgage obviously not.

System

This is what you get when you deny the existence of a housing ladder. People scratching their heads trying to understand how people can afford expensive houses.

Crashy_Time

Joeskeppi wrote: »

This is what you get when you deny the existence of a housing ladder. People scratching their heads trying to understand how people can afford expensive houses.

Just go back to sleep Joeskeppi.

Crashy_Time

ukcarper wrote: »

Forget the house it's clearly overvalued but would the buyer of a 5 bed detached be a FTB with a 100% mortgage obviously not.

No, we can`t forget the house, because we are talking ABOUT the house, and it`s dwindling asking price. Who mentioned FTb`ers and 100% mortgages ? (Clue; You.) The original assertion was that someone would need to earn 80k just to pay way less than the asking price on tightened lending, so the question is, who will actually want it, and how low can the price go?

System

Crashy_Time wrote: »

No, we can`t forget the house, because we are talking ABOUT the house, and it`s dwindling asking price. Who mentioned FTb`ers and 100% mortgages ? (Clue; You.) The original assertion was that someone would need to earn 80k just to pay way less than the asking price on tightened lending, so the question is, who will actually want it, and how low can the price go?

If it's not a FTBer buying it then where has all this persons equity gone if they need to earn 80k?

ukcarper

Joeskeppi wrote: »

If it's not a FTBer buying it then where has all this persons equity gone if they need to earn 80k?

This is thing he is ignoring or is to stupid to see when I bought the house I'm in now the mortgage was only for 50%.

ukcarper

http://www.rightmove.co.uk/property-for-sale/property-45728608.html

This house is within 1/4 of mile as the one in link and easily affordable for a FTB.

gallygirl

Crashy_Time wrote: »

Well the bit about "high end" is. It is a poorly constructed new build with a driveway that looks like it was done by Gypsies on the make.

ukcarper wrote: »

Forget the house it's clearly overvalued but would the buyer of a 5 bed detached be a FTB with a 100% mortgage obviously not.

Crashy_Time wrote: »

No, we can`t forget the house, because we are talking ABOUT the house, and it`s dwindling asking price. Who mentioned FTb`ers and 100% mortgages ? (Clue; You.) The original assertion was that someone would need to earn 80k just to pay way less than the asking price on tightened lending, so the question is, who will actually want it, and how low can the price go?

SHUT UP ALL OF YOU .

I know this street. House massively overpriced - well over the ceiling price for that bit of the area - even with the reductions. There are very expensive houses in the area but not that street. It's a 3 bed house from the 80's with large side extension. Massive garden - would have been far better building another house there.

Look at other large houses in the NN8 area. A few prices down, a few up, a few up and down.

There may well be dropping prices but this was just a massively overpriced property. Have a look at other 5 bed houses in a 5 mile radius - there are better for the money (there are also a few with quite big drops which would be better examples of HPC - but again I know at least one of the streets and think was overpriced .........)