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'Financial crisis'
Comments
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I think a lot depends where you live. My friend bought a house in Newcastle in 2008 and it cost £200k .... Its current value is £198k
My house was valued at around £400k in 2008 .... Now its worth around £700k and thats greater london. In premium areas of London prices have gone up even more - its madness !Stuck on the carousel in Disneyland's Fantasyland
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.0 -
There is a specific house price thread where you can speculate about stuff like this."Real knowledge is to know the extent of one's ignorance" - Confucius0
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Three weeks ago interest rate rises were going to wipe us all out.
Today it's china.
Next week it'll probably be a downturn in the canadian cheese market.0 -
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Next week it'll probably be a downturn in the canadian cheese market.
Cheesy come, cheesy go, as they say.
I have one very, very rich acquaintance (sadly, not really a friend). I tried to sound smart and asked him, some time ago, when I was about to buy, what he thought was going to happen to the housing market and/or stock market in the foreseeable future. His answer was simply:
"F*** Knows". He caught me some hours later, and just said "... and that's my considered opinion", and walked on.
I live by his advice.0 -
Cheesy come, cheesy go, as they say.
I have one very, very rich acquaintance (sadly, not really a friend). I tried to sound smart and asked him, some time ago, when I was about to buy, what he thought was going to happen to the housing market and/or stock market in the foreseeable future. His answer was simply:
"F*** Knows". He caught me some hours later, and just said "... and that's my considered opinion", and walked on.
I live by his advice.
"There are those that don't know, and those that don't know they don't know."0 -
Three weeks ago interest rate rises were going to wipe us all out.
Today it's china.
Next week it'll probably be a downturn in the canadian cheese market.
That's why I've been short selling Canadian curd futures. On a serious note, it wasn't exactly a secret that many Chinese stocks were little more than tulipmania."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
Saw one report saying that the instability in China could delay the proposed interest rate rises next year so that'd be a bonus for people with mortgages that aren't fixed
You're right, the merry go round could be about to stop - but that's only a problem if your income drops or you lose your job. It's equally true the merry go round could just slow a bit or even speed the hell up and then you are stuck looking for places in a more affordable area. In London things slowed in the crash but house prices didn't fall the same way as others and now it's just mental.
Ultimately it's a gamble but it's better to be on and paying down your own mortgage than someone elses.0 -
Here come the crystal balls!
Unless one is a subscriber, this one fades tantalisingly , just at the point where it says my property's value is going to rise by almost 40%......
Hmmm...must be right, then.
Yes – estate agent produces research telling you house prices EVERYWHERE in the UK are going to rise by x.x% over the next x years. So you must buy now – as they need to earn more commission and make more profits. They are hardly going to pay for research that forecasts falls are they?
No one can accurate predict house price rises – no more than anyone could have predicted a 5% fall in the stock market yesterday with a 5% rise today. It will depend on a range of unknowns – the economy, interest rates, government support, housebuilding, salary growth, unemployment levels, the robustness of the banking system.
None of these forecasters predicted what happened in 2008-2009 or what has occurred since 2012 accurately. Why should they be any more accurate now.0 -
Ruby_Hepburn wrote: »this 'financial crisis' news
24th August FTSE 100 down 4.6%
25th August FTSE 100 up 3.09%
Supertramp, 1975. Crisis? What Crisis?0
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