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

Mummy100

Bubble_and_Squeak wrote: »

yay!
crashys back!

Yep I think so

wotsthat

Crashy_Time wrote: »

People who "ride it out" don`t make the market.

Which is tangential to your argument.

Falling prices don't compel people to sell. Supply drops, people ride it out and shatter the HPC dream of a choice of cheap properties. Your crew are left picking over the usual supply of distressed properties and complaining about delusional sellers.

The fantasy you peddle would be an entirely new response to falling house prices.

MobileSaver

Mummy100 wrote: »

the property market has rather gone off the boil lately,

Sounds more like HPC wishful thinking than a genuine EA letter.

Crashy_Time wrote: »

You mean they don`t rush for the exits ... doesn`t matter if Joe Average has a For Sale board in his garden or not.

Of course it matters! If Joe Average doesn't have a For Sale board then he's obviously not "rushing for the exits". :rotfl:

wotsthat wrote: »

Falling prices don't compel people to sell.

This is the bit that the HPC crowd don't get and never will.

They are so fixated on price themselves they can't understand that for the vast majority of people a house is a home; we're not talking about shares where people will take a hit to generate cash flow or because they're worried the shares may eventually drop to zero value.

For the majority of people moving to a new home is a choice and not an absolute necessity. People will simply sit tight and stay in their existing home. The irony, of course, is that the HPC crowd do know this as they repeatedly mention sales volume statistics when it suits them but seem incapable of realising that when prices did take a hit sales volumes fell off a cliff.

Crashy_Time

wotsthat wrote: »

Which is tangential to your argument.

Falling prices don't compel people to sell. Supply drops, people ride it out and shatter the HPC dream of a choice of cheap properties. Your crew are left picking over the usual supply of distressed properties and complaining about delusional sellers.

The fantasy you peddle would be an entirely new response to falling house prices.

http://www.housepricecrash.co.uk/forum/index.php?/topic/195761-is-prime-london-crashing/page-243


According to this, supply seems to be going up? Does this mean prices must be rising?

Crashy_Time

MobileSaver wrote: »

Sounds more like HPC wishful thinking than a genuine EA letter.



Of course it matters! If Joe Average doesn't have a For Sale board then he's obviously not "rushing for the exits". :rotfl:




This is the bit that the HPC crowd don't get and never will.

They are so fixated on price themselves they can't understand that for the vast majority of people a house is a home; we're not talking about shares where people will take a hit to generate cash flow or because they're worried the shares may eventually drop to zero value.

For the majority of people moving to a new home is a choice and not an absolute necessity. People will simply sit tight and stay in their existing home. The irony, of course, is that the HPC crowd do know this as they repeatedly mention sales volume statistics when it suits them but seem incapable of realising that when prices did take a hit sales volumes fell off a cliff.

Are you on an I.O mortgage Mobile Debtor?

MobileSaver

Crashy_Time wrote: »

Are you on an I.O mortgage Mobile Debtor?

Nope, paid off my mortgage a few years ago. :beer:

Crashy_Time

MobileSaver wrote: »

Nope, paid off my mortgage a few years ago. :beer:

I see, just got to hope the value holds up now then?

MobileSaver

Crashy_Time wrote: »

I see, just got to hope the value holds up now then?

Nope, makes no difference to me whether the price goes up, down or sideways. It's my home, not an investment, why would I care?

I'm just enjoying my home secure in the knowledge that it's mine and I've no monthly outgoing to keep it that way.

Mummy100

It isn't wishful thinking I received it its genuine I didn't post the whole thing as it had my name and the agents name too.

Mummy100

It also reflects what I see here. I am not in a difficult situation as some are and tbh price rises benefit me and the like I suppose but I would prefer a crash as it would make things fairer.