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

HAMISH_MCTAVISH

wotsthat wrote: »

Compounding works against the renter and with the homeowner - if your lot could grasp this they'd realise the significance of the price paid for a house diminishes over time.

Spot on...

The problem is psychological - today is always the tipping point. You can NEVER buy.

HousePriceCrash....

The website that has predicted 100 of the last 1 house price crashes.

I reckon what'll happen on HPC is that, at some point, prices will fall by 15% or so, you'll all buy (with mortgages ) and you'll have a big homeowners party to have a laugh at the sheeple.

No-one will be allowed to spoil the party by turning up with a calculator or an Excel spreadsheet.

Yep. And anyone who points that out to them in the meantime will continue to get banned from their site. :cool:

Jack_Johnson_the_acorn

HAMISH_MCTAVISH wrote: »

Spot on...



HousePriceCrash....

The website that has predicted 100 of the last 1 house price crashes.



Yep. And anyone who points that out to them in the meantime will continue to get banned from their site. :cool:

I've had a quick nosey on the hpc link you posted, it seems very "culty" round there. They all seem to believe the same thing almost to the extent where it feels awkwardly religious.

Rota

Hahaha, I see Bruce is talking about me now. How wrong could he be on every assertion? :rotfl:

I'm not surprised though, not like that lot are good at guessing anything right, particularly when to STR.

I have joined that site in the past. When you try to add a measured response the cacophony of bear drivel you get banned on the spot. Its pathetic!

I couldn't think of anything worse than being on a forum where everyone is posting selective bad news (ignoring good or positive) to falsely reinforce a point of view that is, will let be honest - wrong for the better part of 2 decades.

I almost bought into it in 2003. Luckily one guy at work sat me down and drilled some common sense into my head. Funnily enough, its the same math anyone with half a brain has used in here. Renting is dead money, long term house prices do only go up, at the end of mortgage you have an asset. Even if you do have to move away for a while you can still rent it out. Agents take a cut and manage it. You still own it.

These are all facts. If you have shorted the market (STRed) and lost don't get sore at everyone else.

Crashy_Time

wotsthat wrote: »

Rather than go over old ground...



I could have been in negative equity from day 1 paying £480/ month mortgage - at the exact same time you were paying £330/ month to rent a room in a shared house - I'd have coped

Compounding works against the renter and with the homeowner - if your lot could grasp this they'd realise the significance of the price paid for a house diminishes over time.

The problem is psychological - today is always the tipping point. You can NEVER buy.

I reckon what'll happen on HPC is that, at some point, prices will fall by 15% or so, you'll all buy (with mortgages ) and you'll have a big homeowners party to have a laugh at the sheeple. No-one will be allowed to spoil the party by turning up with a calculator or an Excel spreadsheet.

Are you saying you HAVE paid that amount in interest, or are you predicting the future for interest rates? How long until you pay back the debt (principle) you owe?

Crashy_Time

Rota wrote: »

Lot of "if's" in there. Whats your prediction track record been like so far?

Well I predicted that sentiment would shift against high house prices, and it looks like that has happened. There are opinions in the media today that would only have been aired on the HPC site a few years ago? Just tune into the Prime London Crashing thread on HPC and watch the reductions as they roll in. Would have thought people on a site called MONEY SAVING EXPERT.com would enjoy getting things cheaper, but maybe not

mystic_trev

Crashy_Time wrote: »

Would have thought people on a site called MONEY SAVING EXPERT.com would enjoy getting things cheaper, but maybe not

Of course we do,but unlike the HPC Cult, we don't like to wait for House Prices prices to double before they drop a couple of percent. That's NOT very Moneysaving :money:

Crashy_Time

Well happy Saturday chaps, hope you all get to experience what it`s like to be debt free one day. Bye for now.

Rota

Crashy_Time wrote: »

Well I predicted that sentiment would shift against high house prices, and it looks like that has happened. There are opinions in the media today that would only have been aired on the HPC site a few years ago? Just tune into the Prime London Crashing thread on HPC and watch the reductions as they roll in. Would have thought people on a site called MONEY SAVING EXPERT.com would enjoy getting things cheaper, but maybe not

The problem with that thread Crashy, is that you guys are reading it wrong. While it's true there are reductions they aren't because a 50-70% crash will happen next week, its because many owners have seen the 20%+ uptick in London over the last 18 months and decided to cash in.

This strategy worked at the start of the year when HTB money, with no MMR was in place. As I and others have said here this slowdown is welcome in London. 20% rises are not sustainable.

What you are seeing is these chancers that have seen the house across the road sell for "X", added 20% to that and listed.

When they haven't sold quickly they think "mmm, OK, I'm still up "x" if I reduce the price by 10%".

In addition to these points it is the middle of summer, when the market traditionally slows.

If it doesn't sell from there, and I suspect a lot won't these properties will be withdrawn from the market and return to rental stock.

Some sellers will drop further to meet the market. In a balanced forum readers would see both sides of this debate and make up their own minds.

If that view was presented on HPC the poster would be banned.

Rota

Crashy_Time wrote: »

Well happy Saturday chaps, hope you all get to experience what it`s like to be debt free one day. Bye for now.

I am. :beer:

mystic_trev

Rota wrote: »

Hahaha, I see Bruce is talking about me now. How wrong could he be on every assertion? :rotfl:

Banner's a complete idiot,and got me banned from HPC for asking 'what area in the SE are you, where prices continue to plummet?'

Now I notice this

At least on HPC there is diversity in the posters on the forums. Unlike MSE, which seems to have only 4 to 5 pro property idiots!

That from the website that bans anyone bullish on Property!