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How Much Longer Before The Crash
pickles110564
Posts: 2,374 Forumite
Ever since i joined this forum everyone keeps telling me the crash is here/or it is just one one interest rise away.
Yet two very overpriced houses within a five iron shot have both this week had sold subject to contract boards raised.
How much longer do you all think we have to wait now?
Yet two very overpriced houses within a five iron shot have both this week had sold subject to contract boards raised.
How much longer do you all think we have to wait now?
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people are getting 30/40 year mortgages nowadays, thats the only way some can afford it - house prices near me (manchester) seem to be slowing slightlyeverybody tries to understand art, why not try to understand the song of a bird - pablo picasso0
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And the winning lotto numbers for wednesday's draw are: 1,2,3,4,5,6
Can anyone tell me how many people who got hit with negative equity in the 90's, stuck in there and now keep there mouths firmly shut since the house prices have more than doubled since.
Even if it all goes wrong again does anyone still think that house prices will not get back to these values within 10 years?
Short term pain with longterm gain.Lets get this straight. Say my house is worth £100K, it drops £20K and I complain but I should not complain when I actually pay £200K via a mortgage:rolleyes:0 -
Oops, hit thanks instead of quoteAndy_Hamilton wrote: »Even if it all goes wrong again does anyone still think that house prices will not get back to these values within 10 years?
That would probably mean we've been through a fall of over 30% or more, and salaries would have caught up considerably in that time - despite sluggish earnings growth. That's almost a bearish scenario.Andy_Hamilton wrote: »Short term pain with longterm gain.
I'd swap pain and gain. There is nothing to be gained from property bubbles for the population as a whole.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
pickles110564 wrote: »Ever since i joined this forum everyone keeps telling me the crash is here/or it is just one one interest rise away.
Yet two very overpriced houses within a five iron shot have both this week had sold subject to contract boards raised.
How much longer do you all think we have to wait now?
The issue is what once you realize it has started, it'll already have been 'crashing' for months.
Most people will only realize this when an estate agent refuses to market their property. This happened alot on the early 90's, why bother trying to sell something that simply wont sell at any price.0 -
If house prices crash, then the only people that will sell will be those who HAVE to sell i.e. they took a ridiculous mortgage that they can no longer afford, or those who need to move due to work. In the latter case, there's a high chance that they would rent it out instead. This could potentially mean that there are even less properties coming onto the market.
Demand by far outweighs availability here (Oxfordshire), and just because houses are out of most people's budgets, there's still PLENTY of people out there who CAN afford them...
People have been speculating about a price crash for years. some of those are probably a little bitter now, given that they could have made a lot of profit if they'd bought 7 years ago rather than sitting and waiting for a crash... zzzzzzzzzz.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
If house prices crash, then the only people that will sell will be those who HAVE to sell i.e. they took a ridiculous mortgage that they can no longer afford, or those who need to move due to work. In the latter case, there's a high chance that they would rent it out instead. This could potentially mean that there are even less properties coming onto the market.
Demand by far outweighs availability here (Oxfordshire), and just because houses are out of most people's budgets, there's still PLENTY of people out there who CAN afford them...
People have been speculating about a price crash for years. some of those are probably a little bitter now, given that they could have made a lot of profit if they'd bought 7 years ago rather than sitting and waiting for a crash... zzzzzzzzzz.
It's weird how people like yourself expect other to lend you money. This is NOT a right and it can easily be taken away from you. Remember that there lots of people 'who CAN afford them' currently. But that does not mean they CAN in the future.
The value of a property is only worth the available mortgage of its buyer.0 -
why bother trying to sell something that simply wont sell at any price.
That's not true, anything will sell at the right price. Houses do sell during property crashes, in fact plenty of people in the UK snapped up cheap houses at repo auctions. And if and when prices start falling here, there will be repossessions and there will be people willing to buy them.
I've been paying a lot of attention to the Irish market this year and it's pretty obvious to anyone who takes the time to look that prices are falling. Yet there are still buyers out there.
To the op, I think the crash is starting now. This is the despite the fact that on my street two houses in not great condition went on the market and were sold almost immediately. But property prices are unsustainable and they are reaching or have reached a peak, imho. Two months ago I thought London had a year or two of rises to squeeze out of it, a month ago I wasn't so sure and now I'm about 90% sure that it is all over. When I'm 99% sure I'm going to sell.0 -
If
People have been speculating about a price crash for years. some of those are probably a little bitter now, given that they could have made a lot of profit if they'd bought 7 years ago rather than sitting and waiting for a crash... zzzzzzzzzz.
The thing is most of us are not out to make a profit on property, we just want to be able to afford a suitable home where we live and that does not mean fitting two adults and two children into a studio flat!0 -
pickles110564 wrote: »How much longer do you all think we have to wait now?
On Thursday 21st February 2008, The Crash will happen. On that day every house in Britain will drop in value by 93.285%. Luckily no-one will be too bothered about that particular problem, because the reason for the crash will be an asteroid the size of the average London new-build tower block slamming into the Midlands the day before, plunging the country into a nuclear winter. At that point demand will dry up as home-buying in the UK will become appealing only to vampires and HPC forum dwellers, who'll see the new prices as offering "long-term investment potential".0 -
People have been speculating about a price crash for years. some of those are probably a little bitter now, given that they could have made a lot of profit if they'd bought 7 years ago rather than sitting and waiting for a crash... zzzzzzzzzz.
Plenty of people made a LOT of money in the dotcom bubble. I didn't, but I'm not even the tiniest bit bitter about it. Why do people assume that those who "missed out" on the property bubble are bitter?0
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