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50% house price falls
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in the early 90s news items about property had become either "Woman Hands in Keys in to Building Society - I didn't Know What Else to Do Sighs Woman" or "Couple With Negative Equity Trying to Raise Triplets and Twins in a Studio Flat - We've Negative Equity and no Space Bemoan Couple".
I remember that and the fact that a lot of people just gave the keys to their homes, to their lenders and walked away.
I was able to sit tight, but my sister lost out as did my friend's brother, who nearly lost his own house, but was saved by his parents selling up and moving to a smaller house in a cheaper area. He had been buying houses in the boom and splitting them and putting students in them.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
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bargainbarmy wrote: »The whole market is led by supply and demand
not by the surveyors
The market is led by sentiment and affordability. Over the last few years we have had easy (too easy?) credit and the sentiment of "property always goes up in value". Add vested interests especially newspapers, "property !!!!!!" TV, property scaminars, etc. and people like the Glasgow taxi driver on the other thread "jump on the bandwagon". We are now at a point where the market is stalling. The current situation can only be prolonged for a few years at most (or cynically until after the next general election).MissMoneypenny wrote: »I though the market is led by fear or greed?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
BobProperty wrote: »The current situation can only be prolonged for a few years at most (or cynically until after the next general election).
:rotfl::rotfl::rotfl:
I'll agree with that. Gordon will try hard (at any cost) to keep the feel good factor going until then.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
BobProperty wrote: »The current situation can only be prolonged for a few years at most (or cynically until after the next general election).
That'll be about 3 weeks then
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Ok so I've done some straight talking but it annoys me so much when people complain about losing out due to property prices going up or down. It's a reflection of the market, just like shares and equities. It's a gamble but if you don't take it you just get left behind. Life is tough but we've all got to live it!!!0
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bargainbarmy wrote: »It's a gamble but if you don't take it you just get left behind.
Is that not a contradiction?0 -
dannyboycey wrote: »Is that not a contradiction?
I think BargainBarmy's typewriter ran out of ribbon:DRENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
dannyboycey wrote: »Is that not a contradiction?
Err? I don't think so!!!
We've got alot of whingey people on here today, haven't we?0 -
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