So, House Prices can't fall uh?

dolce_vita

hearts wrote: »

The best evidence on how the housing market is doing is to quite simply walk out your door and up the street. Check out whats happening there.
Houses where I am are still rising. You can post all the articles you want but I will always go on the evidence of my own eyes. ;-)

WOW, that's some talent you've got. You can SEE house prices rising just by walking down the street and looking at house.

:rotfl:


Remember after a boom, there is always, yes ALWAYS, a bust.

nelly_2

Snow_Dog wrote: »

Yup and for every bearish doom and gloom article

Things costing LESS is NOT doom and gloom its somthing to be happy about!

You are aware of this websites name I take it

money

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> saving <

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expert

just incase you missed it

sm9ai

phlash wrote: »

The article above discusses House Price falls in Ireland, not far away from us really, and maybe the UK should learn some lessons quickly about speculative markets, which the housing market has turned into (Homes into Investment properties).

Don't worry prices could never fall in the UK as we are an island...... :rolleyes:

sarkin1

Hey spurs nut you sound like a ftb buyer whos in to deep. I was thinking of buying myself but as I work as a mortgage broker I kind of had some, how can we say inside knowledge. This credit crunch is going to hurt

sarkin1

hearts wrote: »

The best evidence on how the housing market is doing is to quite simply walk out your door and up the street. Check out whats happening there.
Houses where I am are still rising. You can post all the articles you want but I will always go on the evidence of my own eyes. ;-)

If you do that where I live (Bournemouth) you will see loads of BTL properties for sale and no one buying. There are for sale signs everywhere with more properties being built and no takers.

wannabedebtfree_2

WOOHOO - so prices may drop a little - doesn't mean much though when I would need about £235k to buy round here, with a 2% drop it would still be £230k - not much in the grand scheme of things.

Sarkin - you must be very lucky to have 'inside knowledge' people have been saying for a LONG time there is going to be a 'correction' I've been out of the finance industry for 2 years and they were saying it then - and look at the price increases since!

PasturesNew

But what if we took some LOW figures. Would that please you?

What if prices didn't rise for 3 years -but- they actually fell by just 2% twice a year for those 3 years?

Then a £200k house would be £177k

And if you were saving £200/month and had £5k now, saved in an ISA at 6.3%, your deposit would be about £14k

So you'd need to borrow £163k instead of £195 needed today.

So, even on minimal changes, over just 3 years, you can see the change.
Now do the sums with bigger drops...

phlash

hearts wrote: »

The best evidence on how the housing market is doing is to quite simply walk out your door and up the street. Check out whats happening there.
Houses where I am are still rising. You can post all the articles you want but I will always go on the evidence of my own eyes. ;-)

Thats why I'd guess you wouldn't be very entrepreneurial, no foresight or initiative.

To those that say 'you guys have been saying the same thing for years', well yes some have, I've been saying it for the past 9 months, not because I enjoy saying what I think but because I have taken my time to actually put some research time into it, and not just 'look around me at what I see'. If and when house prices do fall, I hope that I will hold back from saying

'They tried to tell you for years!!'

cifpower

Same thing is happening (or has happened) in Northern Ireland

A combination of the recent overheated market, rising interest rates, more new houses being released and a seasonal lull have been blamed for house prices falling by up to 7% in some cases.

BUT

Jonathan Watson, director at MCW Residential in east Belfast, pointed out it is a great time for buyers. He said: "You have a better chance of getting a house for the asking price now than five years ago and the shrewd investor is still buying."

kingkano

dolce_vita wrote: »

WOW, that's some talent you've got. You can SEE house prices rising just by walking down the street and looking at house.

:rotfl:


Remember after a boom, there is always, yes ALWAYS, a bust.

Thats funny. looking at the nationwide figures the other day I noticed LOTS of booms in property prices with no corresponding 'busts'? early 70s... late 70s... there was a few others I forget now.