House Price Crash Discussion Thread

lypsey

Amazing admission from Adam Applegarth
It says"He told the Treasury Select Committee that the bank had planned how it would cope with a 40% fall in house prices."
http://news.bbc.co.uk/1/hi/business/7046770.stm

If they planned for it , then maybe my 50% reduction in prices is no-where near enough

divadee

After seeing the hundreds of threads started on a house price crash scenario, it is clogging up the boards.

If you could keep all discussion to this thread only and DO NOT start another threads that would be greatly appreciated.

Any threads that are started will be automatically merged in with this one.

Please do not start arguements. And please be nice to all moneysavers.

Thanks very much.

mystic_trev

Thanks - at last!

How about making it a 'sticky' ?

dannyboycey

I'm amazed by this attitude personally. If we are indeed entering a period of decline in the housing market, it will arguably be the most important area of discussion for those buying or selling. I'm also astonished by the use of the word 'doom' in the thread entitled 'no more house price crash threads please'. That implies that a crash would be bad for everyone - tell that to the thousands of hard-working, tax paying young couples in the UK who have been priced out of the market by disproportionate and unsustainable house price inflation. Many of these people have even put off starting families as a result of the current situation. I personally find this a sickening and deeply saddening state of affairs.

Others, who have actually taken the plunge and stretched themselves financially face years of misery and possible reposessions. The implications of this on both them and the country as a whole is huge.

Yet despite this, it is not seen as a worthy topic for discussion. The very reason that there appear to be more and more threads of this nature is a change in sentiment and a feeling among many that the housing market has peaked. Housing markets are cyclical - you get a period of growth followed by a period of decline. You don't need to be a financial genius to grasp the basics of this model, yet again, we appear unable to discuss the latter stage of this cycle in a sensible manner in relation to the current market.

I am therefore taking the decision to no longer participate in message boards on this site as I absolutely refuse to have my views censored on the basis that they might offend. This is political correctness gone mad - as I feel that many first time buyers would benefit greatly by reading some of the HPC posts and making an informed decision on their purchase. Sure, telling them that they are mad to buy is not at all helpful, but neither is telling them to jump in with both feet. I feel that people have a level of intelligence high enough not to make the biggest financial decision of there lives based on a post on an internet forum, and to think otherwise is patronising in the very least!

Thanks to all those who have offered advice and contributed to interesting debate! Bye..........

pamaris

A sub board regarding the topic of the general state of the property market, where all points of view are welcome would be more helpful than a sticky that is bound to get so long it becomes irrelevant and tedious.

So, are people still allowed to state that property values will rise?

And how do we respond to people who can't sell their house (after they've decluttered, taken new photos etc.)?

Is it just "No crash threads" or is it, "No suggesting that prices may fall in any context". If it is the former, then fine. But if it is the latter I am not sure how some posters will receive relevant answers.

mystic_trev

No pamaris - my view is we can still have those threads. The only problem I see is that some will be hijacked by Trolls or the usual suspects - lets wait and see!

divadee

for clarification!!

its not that you cant discuss house price crashes, if you couldnt i wouldnt be giving you a 'discussion thread' would I!!

Its just that on a daily basis thread are started on the same topic, which clutters up the boards. If all the discussion could be kept in one thread it clears up the boards.

A sub board is not really a requirement for this subject, if it was where do you stop? a sub board for buying, selling, renting, BT, crashing, rising markets etc...

there is no censorship going on here, just a matter of keep the boards running smoothly.

pamaris

OK I get it now, no probs

WTF?_2

divadee wrote: »

for clarification!!

its not that you cant discuss house price crashes, if you couldnt i wouldnt be giving you a 'discussion thread' would I!!

Its just that on a daily basis thread are started on the same topic, which clutters up the boards. If all the discussion could be kept in one thread it clears up the boards.

A sub board is not really a requirement for this subject, if it was where do you stop? a sub board for buying, selling, renting, BT, crashing, rising markets etc...

there is no censorship going on here, just a matter of keep the boards running smoothly.

I can see the need to cut down on HPC threads as there really were lots of them.

However, falling house prices are now a reality and a crash may not be far off.

In such an event, you may have to reconsider the policy of shoehorning all the discussion into one thread in order to actually allow the board to function properly.

beingjdc

I think it's a matter of deciding where something goes. "Will prices crash", or "I think prices will crash because..." goes in here. Personally I think "How much further will prices rise" should go in here too.

"My house is worth 10% less than I paid, what should I do?" would in my view still want a thread of its own in the main board. It is called "Renting, Selling, *and Prices*"!

pamaris

beingjdc wrote: »

I think it's a matter of deciding where something goes. "Will prices crash", or "I think prices will crash because..." goes in here. Personally I think "How much further will prices rise" should go in here too.

"My house is worth 10% less than I paid, what should I do?" would in my view still want a thread of its own in the main board. It is called "Renting, Selling, *and Prices*"!

This is my understanding too. I agree with others that there were too many similar threads... that just tend to degenerate into a virtual shouting match.