House price crash-don't make me laugh

porridge

So how prices are falling?, boy how everyone wants to talk the market down !, Nationwide have just announced that houseprices rose 0.7% again. With lower interest rates on the cards, a stable economy and low unemployment, the best the STR's can hope for is a stagnant low growth market.

Generali

FWIW, Big Bank have changed their interest rate outlook to 0.5-1.0% off next year.

As to house prices? Time will tell. Might be worth buying Gilts with that deposit money - you make a capital gain if interest rates are cut.

Running_Horse

Who cares? More importantly, who wants to sound like an 80s yuppie dinner party by droning on about the price of property? There are more important things in life.

Rkelly_2

Doc N will be along shortly to tell you prices are going to fall 50% and his kids are waiting to make a killing........

porridge

Running_Horse wrote: »

Who cares? More importantly, who wants to sound like an 80s yuppie dinner party by droning on about the price of property? There are more important things in life.

To be honest I'm not bothered either, I just get fed up reading post after after post gleefully announcing that prices are going to fall 50%, Personally I would never want to rent !, I would rather have the security of knowing it is my home and I can do as I please, I am not at the mercy of LL.

manhattan

porridge wrote: »

So how prices are falling?, boy how everyone wants to talk the market down !, Nationwide have just announced that houseprices rose 0.7% again. With lower interest rates on the cards, a stable economy and low unemployment, the best the STR's can hope for is a stagnant low growth market.

Another desperate "made my fortune" house owner trying to prop up the market.

Accept that sentiment is changing, and very shortly people will come to their senses and realise your house/investment is not worth what you want!

manhattan

If it is your home as you state above, why worry?

Badger_Lady

Actually, I was started to be convinced by some of the various threads on here that property in England was subject to decline and that buy-to-lets were no longer an option.

However, my one remaining advert for my old (sold) flat in SW England (an expensive area that has barely beaten inflation over the last couple of years), has suddenly started getting an influx of enquiries from people wanting to view it!

Now, this is a 1-bedroom flat ideal for letting out... so, if the buy-to-let market is no longer profitable, and the area I'm in doesn't have a recent history of increasing capital value (making it more susceptible to any market downfall), why does everyone suddenly want to see it?

(Out of interest, the reason the advert is still there is because I've forgotten my login details for the free website it's on, and can't contact them. I had hoped that, after 6 months of being 'on the market', they might have requested renewal or dropped it!)

manhattan

Dont read the crash threads! You are not forced too. :T

porridge

manhattan wrote: »

Another desperate "made my fortune" house owner trying to prop up the market.

Accept that sentiment is changing, and very shortly people will come to their senses and realise your house/investment is not worth what you want!

You obviously never understood my later statement, to put it it into more basic terms, "I value the freedom of owning my own home", I know that I am not at the mercy of a LL on whether I have to move in 6-12 months. To be honest I do'nt think its the homeowners who come on here talking the market up out of greed, no the really greedy sods are the scaremongering STR'S who are preying to get an entry point back into the market, they are the ones who placed their greed above having a home and security.

So up or down- who cares- its my home

Generali

If you're not buying selling or remortgaging (or planning on being the most boring person at a dinner party) it matters not one jot.

Unless the bottom falls out of the market of course. Then you have an interesting conumdrum (to me at least): Do falling house prices cause bad economies or do bad economies cause falling house prices?

We will see an answer in the US. The their housing market is falling in pretty serene economic conditions.