House Price Crash Discussion Thread

bazzzz

UK house market is ‘heading for crash’-according to IMF

http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article2681755.ece:eek:

The runaway increase in prices during the property boom of the past ten years has left the British housing market in danger of following the slump in American home values, the International Monetary Fund said yesterday.


In a bleak warning, the IMF found that homes in Britain were overpriced by up to 40 per cent – far more than the overpricing in the US before the current property slump began there. The finding will fuel fears over housing market prospects after growing evidence recently that prices have already begun to fall in some parts of Britain. ...

:eek: :eek: :eek: :eek:

WTF?_2

Turnbull2000 wrote: »

Has somebody been whining again? I see 'crash' has been replaced with 'prices' in the subject. Kinda defeats the point, when the forum itself is called 'House Buying, Renting, Selling & Prices'.

A single sticky will prevent market discussions diversifying. If you wish to avoid upsetting those who wish to talk the market up, at least provide a sub-forum - something a bit more practical.

Truly pathetic.

We clearly need three official, mandated threads on this forum to stop all those messy posts from clogging the system up:

* The house buying thread
* The house selling thread
* The house prices thread

Sorted

Generali

!!!!!!? wrote: »

We clearly need three official, mandated threads on this forum to stop all those messy posts from clogging the system up:

* The house buying thread
* The house selling thread
* The house prices thread

Sorted

Sounds good to me.

To my mind it's right that the 'Green ink brigade' (e.g. you and I) weren't crowding out the 'OMG I gonna be homeless posters' that really have something more important on their minds than our petty obsessions.

That green inkers should also be able to get things off their chests is also right.

Jason74

This seems to me like an overreaction to a genuine problem. Yes the plethora of HPC threads from a small number of posters was getting silly, as were the antics of a few posters shouting CRASH in every thread related to buying property.

However, the state of the market is surely a factor in buying decisions, especially for FTBs, who may be more likely than others to ask a forum like this for help. Clearly someone replying to a potential FTB that they should avoid the property market like the plague because property prices will fall 50% in the next 18 Months (or something equally extreme) probably doesn't help in that situation.

However, for a lot of queries, surely comments associated with current market conditions are an essential part of asking the quey. For example, if a potential FTB talked of their plans to buy a studio flat, it would surely be worth mentioning to them (as they may be unaware) that such properties have a tendancy to suffer more than most in a downturn. It is also surely worth mentioning that there is significant uncertainty over the state of the market at present, and that some people expect prices to fall. This will represent new information to many people in that position, and will help them make a more informed decision about how to proceed (which is surely the whole point of the forum?)

If the above type of comment is now banned from general housebuying threads, then I would argue (and this is a purely personal view), that the board is actually not doing the job it is set out to do. I acknowledge the need to stop the silly bickering between bears and bulls on the boards, but surely there is a better way to do it than this ?

thesaint

Generali wrote: »

It's a shame that it comes to this. A little self control by posters would have done a better job.

Well dannyboycey has gone, so only another 2 or 3 to go.

PasturesNew

Or you could just read about it in most of tomorrow's newspapers (again)

http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article2681755.ece

But as we know, it's not real until it's in the Sun

Update: b4lls, already posted... that'll teach me to be lazy and wait hours before I post

tomstickland

I was quite happy with the level of house price crash threads. Not a big problem either way though, this thread can just be a lot larger.

thesaint

To all those complaining about the thread getting long, don't worry, it's all been said before, and no one is going to read it from the start anyway.

Maybe after 1000 posts, divadee can lock and delete this thread, and it can all start again.

Who was that poster who started those threads that went something like "House Price Crash 1,2,3" etc? It would go something like that.

At least it's safe to venture in the main board now, see you down there. :hello:

obsessed_saver

Been monitoring a particular flat price in Cambridge, and just noticed it's fallen from the asking price of £195,000 (first listed 30/08/07) to £185,000 some time in the past few days. That's slightly more than a 5% drop in the asking price.

This page has yet to be updated yet and shows the original £195,000:
http://www.cambridgepropertydatabase.co.uk/property_search/?minimum_search_price=194000&maximum_search_price=196000&agent_id=5&keywords=garage

and Right Move with the new updated price:
http://www.rightmove.co.uk/viewdetails-8999007.rsp?pa_n=1&tr_t=buy

Too bad Right Move put a stop to Property Snake. I'm sure it will paint a very interesting picture right now wrt HPC. :rolleyes: Guess this is exactly what Right Move is afraid of. Unfortunately for them, it is now inevitable.

Running_Horse

Rightmove will not lose any money if prices fall as they do not sell houses. If anything traffic from nervous sellers and canny buyers should rise, and desparate agents and builders will advertise more.