How low will property go?

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Don`t need to mate, the government and media do it for me every day now...:rotfl:

You'll be able to laugh at us "mortgage free mugs" from the luxury of your 1 bed rented flat when the crash does eventually hit. We might be laughing as well though...... The drop will likely be less than than all the HPI gravy we've benefited from.... & that's just from the last 5 yrs.:rotfl:

System

Typical attitude of a mortgage owner but doesn't like it when it goes the other way - HPC. I love it when people with attitudes like that go into negative equity. People need to respect people's views on properties, positive or negative.

westernpromise

mrlegend123 wrote: »

The housing market has been manipulated over the years to suit. Yes, some people have done well out of it aided by the central bankers. The property market is one of the best tools to create money.

The belief that all economic policy is about denying you a house is a recognition feature of a crash troll. It was #11 of 16 I proposed in a recent thread. Which of these others apply?

1. Waiting 5, 10 or 20 years to buy after a dip is economically rational. I'm guessing you believe this one?

2. Because the crash troll would insist a crash was imminent, they never do buy Not sure - have you bought, or would you only do so subject to 1/ ? If so, see 2.

3. Crash trolls believe the only good times to buy were in the past, and always will be. You appear to believe this, yes?

4. Relatedly, nobody who took a risk that paid off 10 years later took any risk at all. And this?

5. No crash troll ever works out the NPV of their future rents, or compares these to the cost of buying a property and selling it for £0. This one definitely applies, right? You do not know what the lifetime cost of renting looks like in NPV terms compared to buying?

6. Crash trolls think that rising property prices mean an area is becoming less and less attractive to live in. Again, this sounds likely for you. Do you think London is an overpriced cr~phole?

7. Other people’s gains from house price inflation are illusory. Losses from house price deflation are, however, real. This certainly applies to Crashy. It sounds like you think so too?

8. Crash trolls expect to be able to buy a house in the place they grew up in for 3x their own salary. If a family house in their town sells for more than 3x one national average salary, it’s a bubble. I'm sure you've said this.

9. Only crash trolls ever use certain terms: tulips, Ponzi, boomer.....Many like to bandy around economic terms but none has any understanding of economics in general. Definitely you.

10. Crash trolls think homeowners are greedy idiots, but would like to have bought in themselves at the prices of 10 years ago. Yes - see 3.

11. All economic policy is about keeping house prices high. Low interest rates serve no other purpose than to deny crash trolls a house. You clearly believe this.

12. Crash trolls think high house prices have been caused by low interest rates. Hence they must think that interest rates are different in different parts of the country. Otherwise, there would also be a bubble in Stoke-on-Trent. You clearly do believe the first and last sentences, so inferentially, do you think that interest rates are different in Stoke? If not, how do you reconcile the rest?

13. Buyers play no role in setting house prices. They just pay whatever sellers decide. I do get the impression you don't realise you're competing with other buyers; this I'd say is true.

14. Crash trolls believe that mortgaged houses are legally owned by the lender. You've not directly mentioned this but you think there's a conspiracy to favour banks, so you probably do think this, right?

15. Crash trolls believe that selling a house at its current market value is greed, and that wanting it buy it for 70% less than its current market value is not. Not sure.

16. Recessions are wholly benign. No crash troll ever loses their job in a recession. House prices will simply become affordable. Bigger deposits will not be required by lenders, nor will salary multiples shrink, nor will property availability fall, nor will rents rise. Not sure.

It still feels to me like you score at least 12/16 and probably a full house. Am I right?

MobileSaver

p1212 wrote: »

That's also why prices have been increasing since 2008 as they keep preventing the free market mechanisms from correcting

Just to be clear on this... you do not believe that the fact that the population is growing much quicker than we're building new houses has anything to do with house prices increasing?

System

It's affordability not demand vs supply. Have a think about it before posting a aggressive post back at me.

System

Your list is stupid and sad. Sorry I had to say that.

System

You don't see crash or corrections making silly lists about HPI trolls....

wotsthat

mrlegend123 wrote: »

It's affordability not demand vs supply. Have a think about it before posting a aggressive post back at me.

You've really got to get on top of your multiple logins - it's getting embarrassing.

System

*trolls.

Go ahead with your daft list lol

System

What drugs are you taking wotsthat? You dont like it when someone has a different opinion. You sound like a loser.