Media Is Now Predicting A Massive 40% Property Price Crash

AdrianC

antrobus wrote: »

The Daily Mail is not 'calling' anything. It is merely reporting on the views of one Paul Cheshire, Professor of Economic Geography at the LSE.

With whatever spin and weight on those views.

.. the Daily Mail however is only a newspaper.

<raises eyebrows> Is THAT what it is...?

Tiners

If we're talking about recent Daily Mail property articles and a possible shift in sentiment I think this one is more salient....

http://www.dailymail.co.uk/news/article-4655918/Why-320-000-families-t-afford-move.html?offset=417&max=100&jumpTo=comment-219355232#comment-219355232

After years of the Daily Mail ramping the housing market and rejoicing at house price inflation it's finally dawned on them that rampant HPI is actually no benefit to many home owners, never mind people looking to buy their their first home.

Tiners

AdrianC wrote: »

With whatever spin and weight on those views.


<raises eyebrows> Is THAT what it is...?

You can be as sniffy as you like about the Daily Mail but the fact is it has one of the biggest readerships nationally and internationally online of any newspaper in the world... that's a whole lot of sentiment that can be influenced.

Blakey74_2

People have been talking the housing market down since 2004 and before.

There are plenty of people on HPC who sold to rent and have been waiting for the crash to happen.

Whilst there's no doubt that prices will eventually crash at some time, timing the crash will be luck as will be picking up a bargain.

The other problem with crashes is that its mainly repossessions and often properties that people in general don't really want that sell.

Therefore I suspect that many will be disappointed with the availability of properties.

Crashy_Time

00ec25 wrote: »

because they are in the wrong part of the UK - perhaps you struggle with geography? Hint: look at a map, the top is north where the poor people live, the bottom is south, where the rich people live. Properties in the south are selling quite easily, although I grant that is an advanced level concept beyond your understanding - perhaps ask your mother to explain it to you?

http://landregistry.data.gov.uk/app/ukhpi
Current index
As of April 2017 the average house price in the UK is £220,094, and the index stands at 115.43. Property prices have risen by 1.6% compared to the previous month, and risen by 5.6% compared to the previous year.

If you call being in debt for a 500k shoebox in a dodgy part of London "rich" then we are never going to agree I`m afraid. Do you have the % of sales volumes for the last few years handy to post up?

Crashy_Time

Blakey74 wrote: »

People have been talking the housing market down since 2004 and before.

There are plenty of people on HPC who sold to rent and have been waiting for the crash to happen.

Whilst there's no doubt that prices will eventually crash at some time, timing the crash will be luck as will be picking up a bargain.

The other problem with crashes is that its mainly repossessions and often properties that people in general don't really want that sell.

Therefore I suspect that many will be disappointed with the availability of properties that are available.

Not nearly as disappointed as those who did their financial planning for retirement based on someone borrowing ten times income to buy their house off them :rotfl:

economic

Tiners wrote: »

If we're talking about recent Daily Mail property articles and a possible shift in sentiment I think this one is more salient....

http://www.dailymail.co.uk/news/article-4655918/Why-320-000-families-t-afford-move.html?offset=417&max=100&jumpTo=comment-219355232#comment-219355232

After years of the Daily Mail ramping the housing market and rejoicing at house price inflation it's finally dawned on them that rampant HPI is actually no benefit to many home owners, never mind people looking to buy their their first home.

the only thing the daily mail is good for is for wiping my bum.

Crashy_Time

economic wrote: »

the only thing the daily mail is good for is for wiping my bum.

I would say that for most newspapers, but the sentiment effect of this stuff is huge, the bubble was blown with the help of silly articles about property "Soaring to the Moon" etc. People bought into it, but it was mainly cheap credit that brought us to where we are, and this mess can`t unwind painlessly, the more property debt you have at recent prices the harder the crash will affect you.

Out,_Vile_Jelly

A significant drop in the price of new flats in London wouldn't surprise me. These are invariably tiny, in rancid parts of town and are laughably overpriced.

Sensibly sized houses in respectable areas with good transport connections will always be desirable.

Crashy_Time

Out,_Vile_Jelly wrote: »

A significant drop in the price of new flats in London wouldn't surprise me. These are invariably tiny, in rancid parts of town and are laughably overpriced.

Sensibly sized houses in respectable areas with good transport connections will always be desirable.

Not at any price though.