Remember when...we noticed that Nationwide Year on Year was down to 4.2%

michaels

Pretty much impossible to call housing market trends at the moment due to the impact of the btl stamp duty cliff at the end of March. However we can remember that the late 80s boom / crash coincided with the removal of miras brining an artificial surge followed by a hangover.

PasturesNew

We can't all remember it .... not because of our age, but, quite simply, because back then most people only had knowledge of what their local newspaper published ... we had no idea of the wider world or what was going on, or anything.

The Internet now tells us everything, all day, every day, with the ability to read the words of total strangers sitting on their sofa 200-300 miles away.

We only know about what happened back then because we can now be directed to information/charts about it, via links provided by sofa-dwelling-strangers

ging84

is this a roundabout way of you saying you think there is going to be a crash, without having to actually say it?

padington

If property prices start to crash, watch how fast Osbourne and matey boy Carney will set a fire back underneath the property market n 2018.

Spidernick

PasturesNew wrote: »

We can't all remember it .... not because of our age, but, quite simply, because back then most people only had knowledge of what their local newspaper published ... we had no idea of the wider world or what was going on, or anything.

You do know that he's talking about 1989 and not 1889, I suppose?

Sapphire

PasturesNew wrote: »

We can't all remember it .... not because of our age, but, quite simply, because back then most people only had knowledge of what their local newspaper published ... we had no idea of the wider world or what was going on, or anything.

The Internet now tells us everything, all day, every day, with the ability to read the words of total strangers sitting on their sofa 200-300 miles away.

We only know about what happened back then because we can now be directed to information/charts about it, via links provided by sofa-dwelling-strangers

I get the sentiment, but one was still very much aware that there was a big crash at that time. Even though I wasn't particularly interested in such things then, I do remember seeing rows and rows of for sale boards outside houses along streets. I vaguely remember that it was discussed as well (on TV and the radio perhaps).

padington

The terrible thing according to Osborne is that Brexit might bring a house price crash.

That should tell you everything you need to know about what the plan is if we remain.

House prices going up is the economic strategy.

Don't be fooled otherwise, they won't be allowed to go down.

The tax on landlords is a whopping bet that prices will continue to rise with low interest rates and massively increasing population.

michaels

IN other shock news, the BBC can today exclusively reveal that you pay more interest on a 40 year mortgage than you do a 25 year one. The logical conclusion of this is that you should only buy a house cash then you will save all the mortgage interest.
http://www.bbc.co.uk/news/business-36445065

PasturesNew

Sapphire wrote: »

I get the sentiment, but one was still very much aware that there was a big crash at that time. Even though I wasn't particularly interested in such things then, I do remember seeing rows and rows of for sale boards outside houses along streets. I vaguely remember that it was discussed as well (on TV and the radio perhaps).

I wasn't aware, not at all. I lived in a small village, maybe you were in a big city.

PasturesNew

michaels wrote: »

IN other shock news, the BBC can today exclusively reveal that you pay more interest on a 40 year mortgage than you do a 25 year one. The logical conclusion of this is that you should only buy a house cash then you will save all the mortgage interest.
http://www.bbc.co.uk/news/business-36445065

They wheeled out a pointless-BBC-employee-gimp to do some stupid piece that involved him chalking a "25" and a "40" on a random pavement, then standing at each point .... and a brief interview with a couple and their kids moving into a £300k house and him asking them if they're worried they'll still be paying it off in 40 years' time.

Nobody quipped "Yeah, but the chances are that in 40 years' time wages will have increased, maybe even doubled... trebled ... so they can pay it down quicker if they wish".

economic

PasturesNew wrote: »

They wheeled out a pointless-BBC-employee-gimp to do some stupid piece that involved him chalking a "25" and a "40" on a random pavement, then standing at each point .... and a brief interview with a couple and their kids moving into a £300k house and him asking them if they're worried they'll still be paying it off in 40 years' time.

Nobody quipped "Yeah, but the chances are that in 40 years' time wages will have increased, maybe even doubled... trebled ... so they can pay it down quicker if they wish".

exactly. i rather borrow more and have a longer term as its all about oppurtunity cost - the cash i didnt put down can earn more then the mortgage interest saved.