Foxton's Share Price dropping rapidly

ukcarper

Crashy_Time wrote: »

Great news for the landlords in that town?

It's in the south east but not one of the best areas and is pretty typical for the area. Personally I think prices are to high and large numbers of people are not able to afford reasonable properties but even though I can see prices falling a bit with the shortage of properties I can't see them falling that much.

Crashy_Time

ukcarper wrote: »

It's in the south east but not one of the best areas and is pretty typical for the area. Personally I think prices are to high and large numbers of people are not able to afford reasonable properties but even though I can see prices falling a bit with the shortage of properties I can't see them falling that much.

Great news for sellers in that area. If I owned a property in that area I would sell it to the next highest bidder that came along (they can always default later, no real harm done) You can`t always extrapolate from your local area to the wider property/credit markets though. My opinion is that the asset class called "property" is due a big correction.

ukcarper

Crashy_Time wrote: »

Great news for sellers in that area. If I owned a property in that area I would sell it to the next highest bidder that came along (they can always default later, no real harm done) You can`t always extrapolate from your local area to the wider property/credit markets though. My opinion is that the asset class called "property" is due a big correction.

I think you have been saying that for some time .

How big a correction?

Crashy_Time

ukcarper wrote: »

I think you have been saying that for some time .

How big a correction?[/QUOTE]


Property will go from a "must have" to a "who cares", that will be the correction.

ukcarper

Crashy_Time wrote: »

ukcarper wrote: »

I think you have been saying that for some time .

How big a correction?[/QUOTE]


Property will go from a "must have" to a "who cares", that will be the correction.

Not prepared to put a figure on it then

Crashy_Time

ukcarper wrote: »

Crashy_Time wrote: »

Not prepared to put a figure on it then

Figures will vary round the country, London will show big % drops, but it is sentiment that is important to me, as when people just stay away from over extending themselves for property we will have everything in place for a good correction that will last for many years.

Thrugelmir

Crashy_Time wrote: »

ukcarper wrote: »

Figures will vary round the country, London will show big % drops, but it is sentiment that is important to me, as when people just stay away from over extending themselves for property we will have everything in place for a good correction that will last for many years.

Much depends on the measures that the BOE introduces to control credit flow as well. More than likely will be a slow tightening down that has a progressive effect.

Bubble_and_Squeak

Thrugelmir wrote: »

Crashy_Time wrote: »

Much depends on the measures that the BOE introduces to control credit flow as well. More than likely will be a slow tightening down that has a progressive effect.

markets have a tendency to over react, though
asking prices usually fall in the run up to christmas so if we get some big falls (which is possible as demand is fading) it could carry on into next year

ukcarper

Bubble_and_Squeak wrote: »

Thrugelmir wrote: »

markets have a tendency to over react, though
asking prices usually fall in the run up to christmas so if we get some big falls (which is possible as demand is fading) it could carry on into next year

I can see prices falling but I can't see the big crash Crashy is hoping for.

Bubble_and_Squeak

ukcarper wrote: »

Bubble_and_Squeak wrote: »

I can see prices falling but I can't see the big crash Crashy is hoping for.

in the absence of interest rate rises nor can i.
but like i said, markets over react so its a very real possibility.
there are a lot of people waiting in the wings (like me) but if prices drop off people might hold out for a better deal.