Media Is Now Predicting A Massive 40% Property Price Crash

padington

economic wrote: »

thats worse then both gold and P2P.

Tell that to people that bought it last year

Thrugelmir

bobbymotors wrote: »

sorry but those figures are wrong

£130k @ 6% = £7800 p.a. interest 25 yr at £838

£150k @ 4% = £6000 p.a. interest 25 yr t £792

Yes it is painful, but only in the short term - if you can wait it out without having to sell, even if you buy at the very peak, in 10 years you'll be in front.

And you've got a home to live in thrown in.

Sorry my typo. Meant to say £120k.

Over 25 years figures are total payments of £231,949 / £237,527

In an era of wage stagnation and the prospect of rising interest rates. Debt will no longer be inflated away as the past generation enjoyed. I know I did.

HAMISH_MCTAVISH

bobbymotors wrote: »

Yes it is painful, but only in the short term - if you can wait it out without having to sell, even if you buy at the very peak, in 10 years you'll be in front.

Reality is it hasn't even been painful in the short term.

Those who bought at the previous peak are mostly now laughing 10 years later, having paid such a paltry amount of interest that they're well ahead of what it would have cost to rent since then or even buy in previous times with lower prices but higher rates.

bobbymotors

^^^^^^^^^^^^

Hamish, it's always been the case SO FAR.

Any 10 year period, and you're in front.

Too many people. not enough houses or space. cheap money = no crash

Yes, easing, crash, no.

seven-day-weekend

I would like house prices to come down so that more young people could afford them. Whether they will or not I have no idea.

bobbymotors

seven-day-weekend wrote: »

I would like house prices to come down so that more young people could afford them. Whether they will or not I have no idea.

well, they might, but only a bit.

patel007

bobbymotors wrote: »

well, they might, but only a bit.

You are strongly wrong!!

Facts from todays media, I hve alos just update the OP:


Here

http://www.dailymail.co.uk/money/mortgageshome/article-4677680/RICS-data-expected-house-price-growth-slipping.html

AdrianC

Facts. Daily Mail. Right.

Koldweather1

I think an easing of house prices is good for most bar those who depend on house profits for their pension and those who have got very high LTV. For everyone else it is at worst a neutral thing, and its obviously good for FTB.

Personally if prices drop 20%, that simply also means the next house I go for will likely be in a similar range, so in reality I'd be no worse off, indeed a lower asking price means my savings would go further.

I think a crash tends to suggest the whole economy has gone wrong somewhere, and few come out of that totally unscathed...so easing is IMO much better than a crash unless your in that exceptional position to have a very large sum of cash to outright buy a house, but I can't think the percent of the population who are in that position is too high.

kinger101

patel007 wrote: »

You are strongly wrong!!

Facts from todays media, I hve alos just update the OP:


Here

http://www.dailymail.co.uk/money/mortgageshome/article-4677680/RICS-data-expected-house-price-growth-slipping.html

In what was is a survey based on opinions "fact"?