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

CLAPTON

hpc_troll wrote: »

What am I doing wrong - I replied to a post from this delightful fellow wotsthat, but his post is not in the thread. I'm new here - how does that work?

you click on 'QUOTE' at the bottom of his post




then write what you want


and then click on 'submit reply' at the bottom of your post

Crashy_Time

hpc_troll wrote: »

What am I doing wrong - I replied to a post from this delightful fellow wotsthat, but his post is not in the thread. I'm new here - how does that work?

Post got deleted after you replied, taken back to the workshop maybe for a polishing?

Crashy_Time

chucknorris wrote: »

Last house we bought was in 2008, we bought it for £243k and spent about £17k on it, so just under £265k incl. all the fees etc.


Our rental profit is currently over £12k a year, the total rental profit since purchase is about £65k the current value is about £360k. Total current rental profit and capital gain is therefore about £160k.

You are Fergus Wilson and I claim my free boiler.

MRMX9

saguk1234 wrote: »

And then there will be a crash and all those with cash/international money launderers will swoop in and buy the houses for dirt cheap because the banks have to be bailed out again.

Some of you lot will reap what you sow.

I don't want a massive crash. I just want to buy without having to sell my soul!!

Its very generous of you to want to pay more for a house to protect the gains of those who already own. I wish many of those older than you had as much regard for your interests as you have for theirs.

House prices fell 30% in the early 1990s allowing many more people to buy homes in the mid 1990s. Within 5 years we had a strong growing economy and the Government’s finances were in surplus. We survived – and prospered – for a while.

As with the stock market housing has had its ups and downs and peaks and troughs – sometimes a clear out of the deadwood is positively healthy. But long gone are the days when people or financial companies were expected to take responsibility for their mistakes and failings – its bailouts galore, privatising profits and socialising losses.

In the end our reliance on housing to drive the economy is positively unhealthy.

chucknorris

Crashy_Time wrote: »

You are Fergus Wilson and I claim my free boiler.

I am probably a lot more than a hundred million behind Fergus, but thankfully I consider myself to be a much more reliable and considerate landlord. I definitely would NOT change places with him, I don't care how much he is worth.

Crashy_Time

CLAPTON wrote: »

house prices will reduce when we build sufficient for people wants:
given the low level of building and the rising population that will be no time soon.

When enough people realise that house prices can reduce, then house prices will reduce.

CLAPTON

MRMX9 wrote: »

Its very generous of you to want to pay more for a house to protect the gains of those who already own. I wish many of those older than you had as much regard for your interests as you have for theirs.

House prices fell 30% in the early 1990s allowing many more people to buy homes in the mid 1990s. Within 5 years we had a strong growing economy and the Government’s finances were in surplus. We survived – and prospered – for a while.

As with the stock market housing has had its ups and downs and peaks and troughs – sometimes a clear out of the deadwood is positively healthy. But long gone are the days when people or financial companies were expected to take responsibility for their mistakes and failings – its bailouts galore, privatising profits and socialising losses.

In the end our reliance on housing to drive the economy is positively unhealthy.

in what way does the housing drive the economy?
in what way is it unhealthy?

Crashy_Time

chucknorris wrote: »

I am a lot more than a few million behind Fergus, but thankfully I consider myself to be a much more reliable and considerate landlord. I definitely would NOT change places with him, I don't care how much he is worth.

Fair enough. I have very little complaint about any of my landlords, they were all up to the mark on repairs etc. How much Fergus is worth is up for debate though.

CLAPTON

Crashy_Time wrote: »

When enough people realise that house prices can reduce, then house prices will reduce.

everyone knows that house price have reduced in the past so I would conclude that everyone knows that prices can reduce


I don't expect much reduction any time soon however, except in maybe small areas of London

Crashy_Time

CLAPTON wrote: »

in what way does the housing drive the economy?
in what way is it unhealthy?

MEW drove the economy for long enough? When the housing Ponzi broke, so did the economy?