What would happen if there was a crash?

Crashy_Time

nzseries1 wrote: »

In a crash, I won't be able to pay my credit card bill. Should we therefore also post it in the credit cards section?
In a crash, I might get depressed, which would put strain on my relationship with my boyfriend. Should we therefore also post it in the Marriage, Relationships and Families board?

No, of course not. You should find the most appropriate place for the thread, and that place is the "debate house prices" board, as that is the main thing you are discussing.

In a crash the main board will be buzzing with crash talk anyway, so it doesn`t really matter much does it? Why would a housing crash affect your credit card?

padington

You know it's a crash when you have really high interest rates because lots of hiuses on the street is for sale.

You know it's a crash when you have really low interest rates because almost everything isn't for sale.

HAMISH_MCTAVISH

Thread has been moved to Debate House Prices where it belongs.

The crash was in 07/08 and the next one is due in the mid to late 2020's, any temporary blip due to election uncertainty this year is just that, temporary.

System

jjlandlord wrote: »

There is usually an element of panic during a crash.

If you are going to panic, panic early.

chucknorris

Toptom1 wrote: »

If there was to be a house price crash how would it happen? Do the estate agents value houses for less or does it start when houses don't get sold so they lower offers? What's are the stages and what stage do you think we are in?

I think the country is in various stages of recovery, London has recovered a bit too quickly and is likely to stagnate for a bit, while the rest of the country catches up. The rest of country is also at various stages, but not as stark as London (and maybe a few other places) versus elsewhere.


I don't think that the next crash will be with us for about 10-12 years, at which point I need to have already sold, I like holding property but I may be pushing 70 by then. I don't want to get stuck holding property going into the next crash because I have a fair bit of equity that needs to be released and spent, and I won't have enough years left after the next crash. So my strategy has to be to sell before then. Previously I was thinking of hanging on for longer, but it is only recently that I have realized that I probably won't live long enough to do that. So when I sell will be market driven.

chucknorris

HAMISH_MCTAVISH wrote: »

Thread has been moved to Debate House Prices where it belongs.

The crash was in 07/08 and the next one is due in the mid to late 2020's, any temporary blip due to election uncertainty this year is just that, temporary.

I'm guessing that same timeframe too, as I said above, in about 10-12 years is my guess. I'll be happy with current prices matching inflation (in London), any real term growth I will consider as a bonus.

Blacklight

If there was any drop I suspect many people would buy up whole streets to capitalise on the falls.

I know I would.

Crashy_Time

Blacklight wrote: »

If there was any drop I suspect many people would buy up whole streets to capitalise on the falls.

I know I would.

I thought people took their property off the market in a crash?

Crashy_Time

HAMISH_MCTAVISH wrote: »

Thread has been moved to Debate House Prices where it belongs.

The crash was in 07/08 and the next one is due in the mid to late 2020's, any temporary blip due to election uncertainty this year is just that, temporary.

Do you think Aberdeen will have it`s own little crash before that Hamish?

TickersPlaysPop

Maybe this has already been posted, so please excuse me....

How to start a crash?.... disincentivise landlord'ism ..... this could be a change in the rules for protection of tenants.... a change in the taxes for landlords...

The landlord would then run away from their property .... Put it on the market at a low price to get out while they can..... And then put their money into other avenues, incentivised avenues that strengthen the economy, create jobs and real value.