So, House Prices can't fall uh?

oldwiring

From today's DT

Prof Peter Spencer, an economic adviser to the Ernst & Young Item Club, said Britain was arguably more vulnerable to the slump than many other countries because the economy was so reliant on the City to power it ahead.
"We have become far too dependent on this kind of growth," he said. "We are going to see a pretty big correction - but it's a correction, not a crash.
"The age of big City bonuses is coming to an end. London's housing market boom is now effectively over."
The capital's housing market has seen record jumps in the past year, following record City bonuses last year.
Prof Spencer added that the housing market nationally was already grinding to a halt, but that the financial crisis would accentuate this.
"Prices will flatline," he said. "We are not talking about a crash, but we are expecting house price inflation to come back to practically zero for the next two years."

Zero

http://www.belfasttelegraph.co.uk/tv/article2844142.ece

hearts

phlash wrote: »

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!!'

My friend I am probably worth a great deal more than you. But thats another matter. ;-)
When I said "walk up the road" I asummed you would have the common sense to then check what the houses were actually selling for and not just go by the For sale price. As I said where I am prices are still rising. This is the evidence that matters not the continual garbage being spouted by you HPC lot.
OH and had I listened to you even 9 months ago I would be worth 200k less today. So much for you and your "entrepreneurial, no foresight or initiative" ;-)

barrymung

movilogo wrote: »

So, house price won't crash in true sense, but there will be definitely a stabilisation soon.

Depends how you define "crash"..

Will house prices fall substantially over the next 18 months or so? IMHO yes.

Will there be larger numbers of people have their homes repossessed? IMHO yes.

Will the market go from being a sellers one to a buyers one? IMHO yes.

You must remember the old addage: "When America sneezes, Britain catches a cold"..

barrymung

hearts wrote: »

When I said "walk up the road" I asummed you would have the common sense to then check what the houses were actually selling for and not just go by the For sale price. As I said where I am prices are still rising. This is the evidence that matters not the continual garbage being spouted by you HPC lot.
OH and had I listened to you even 9 months ago I would be worth 200k less today. So much for you and your "entrepreneurial, no foresight or initiative" ;-)

If I had a penny for every smug investor that said that before the last price crash I'd be richer than you!

roswell

And the age old crash debate continues again,

The truth is no body knows and nbody can be sure what will happen in the next 12 months just the same as last year and the year before and the year before.

The reality is as long as you are aware of the risks and make plans to minimise the risks do as you need to, if your happy to take the risk dont sell, if your happy to take the risk buy, if your not happy to take the risk sell.

No matter what happens its out of our control, it doesnt matter who says it will or who says it wont happen the reality is there is nothing anyone can do if it does happen.

Orion_3

hearts wrote: »

When I said "walk up the road" I asummed you would have the common sense to then check what the houses were actually selling for and not just go by the For sale price.

Well that's hardly 'walking out to your street and using your eyes', is it? One would first have to go online to see what the selling price was, then wait till the house was sold, then phone up the estate agent and ask what the accepting purchase price was (which they often don't like to give out anyway). And then repeat for several different houses.

Is this what you have been doing?

globalds

Orion wrote: »

Well that's hardly 'walking out to your street and using your eyes', is it? One would first have to go online to see what the selling price was, then wait till the house was sold, then phone up the estate agent and ask what the accepting purchase price was (which they often don't like to give out anyway). And then repeat for several different houses.

Is this what you have been doing?

He only really needs to go and have a look at this web-site http://www.houseprices.co.uk/and tap in his post-code ......not really working hard

tomstickland

This is the evidence that matters not the continual garbage being spouted by you HPC lot.

Past performance is no indicator of future performance.

Orion_3

globalds wrote: »

He only really needs to go and have a look at this web-site http://www.houseprices.co.uk/and tap in his post-code ......not really working hard

Yes, probably a lot more reliable than walking up his high street.