House Price Crash Discussion Thread

HammersFan

Turnbull2000 wrote: »

I don't think you can compare. That was a market bubble that affected very few, this is a market bubble that affects everybody.

In addition...

Were the money markets decimated in 2000? Did the whole system require a desperate rescue attempt? Was a bank nationalised? Were house prices as overvalued? Were households as overextended? Were earnings growing as slowly? Was disposable income so low? Was the tax burden as high? Were we facing stagflation?

Indeed, you are quite right. I should have realised. I'll just sit at home worrying about it and wait for it all to come crashing down. Its all so unavoidably terrible.

Turnbull2000

HammersFan wrote: »

Indeed, you are quite right. I should have realised. I'll just sit at home worrying about it and wait for it all to come crashing down. Its all so unavoidably terrible.

As they say, 'sarcasm is the...'

WTF?_2

Now it's front page news on the BBC News website:

http://news.bbc.co.uk/1/hi/business/7300017.stm

The Bank of England on Monday made an extra £5bn ($10bn) available for UK banks to borrow to ease credit fears.

The money was five times over-subscribed.


Now, anyone still insisting that all is going to be well and people should go ahead and buy a house is clearly deluded.


When are the mods going to stop trying to shoehorn all discussion of the obvious implosion to one thread and pandering to the "head firmly in the sand, my property is going to be just fine" cretins?

This board is supposed to help people invest and save money and pandering to fools with an emotional attachment to property is doing the subscriber base a great disservice.

abaxas

!!!!!!? wrote: »

Now it's front page news on the BBC News website:

http://news.bbc.co.uk/1/hi/business/7300017.stm

The Bank of England on Monday made an extra £5bn ($10bn) available for UK banks to borrow to ease credit fears.

The money was five times over-subscribed.


Now, anyone still insisting that all is going to be well and people should go ahead and buy a house is clearly deluded.


When are the mods going to stop trying to shoehorn all discussion of the obvious implosion to one thread and pandering to the "head firmly in the sand, my property is going to be just fine" cretins?

This board is supposed to help people invest and save money and pandering to fools with an emotional attachment to property is doing the subscriber base a great disservice.

Don't spook the herd! Instead wait and profit from their greed.

busy_bee_7

merlinthehappypig wrote: »

Nothing personal intended at all, but it just shows how short people's memories are when someone who works in property doesn't understand negative equity. Houses - those are the things that always increase in value, aren't they?

I couldn't agree more Merlin.

It may be thanks to (ignorant?? greedy??) people/agents like "ebony" we now have such an overpriced and inflated housing market.


BB

MissMoneypenny

FTSE 100 closes, down 3.9%:eek:

HBOS and Barclays taking big hits.

merlinthehappypig

Blimey, I've been away for a few days and blissfully unaware of everything that was happening. I thought I'd have a few days off from the news and just caught up with the FTSE down almost 4% and everyone running for the hills.

If someone can arrange for the same for the same carnage regarding house prices I'll happily go away again...........

WTF?_2

merlinthehappypig wrote: »

Blimey, I've been away for a few days and blissfully unaware of everything that was happening. I thought I'd have a few days off from the news and just caught up with the FTSE down almost 4% and everyone running for the hills.

If someone can arrange for the same for the same carnage regarding house prices I'll happily go away again...........

That's coming soon ... As plenty of us have been warning for the last six months.

Let's hope enough MSE readers saw the warnings and held off sinking lots of money into property, despite some fools on these boards who tried (and succeeded) to limit talk of house price crashes to this thread.:rolleyes:

Snafflepants

I'm new so I apologise if this is not in the right place but I felt if I posted in the main forum I would get replies from people who would say I was being daft....

I do think that the market will crash and we will go into recession and I am terrified.

I'm 25 and bought my house on my own 4 years ago. I had a 20% deposit and have a mortgage of 58k on a 3 year fixed deal which I could afford happily on my own.

Fast forward 3 years and I refixed last year for another 5 years and my payment went up by £30 a month so still very affordable. However, my circumstances have changed now: I have a fianc!e and a DD who has just turned one. He works full time and I work part time and we both earn above the national average. He however has quite a bit of debt but has approximately 20 months to run and he will be debt free. I have a car loan (through my bank) which has 2.5 years to run.

Houses are selling for about 20 - 25% above what I paid and are staying on the market for about a month before they are sold (I get the monthly report through) but hardly any seem to be on the market around our area....

We do have free income after all our bills, nursery fees etc and I am pouring what's left into our loans.

However, I work for a small company which although is very successful now (I get access to the P&L's so can vouch for this) I am terrified we will suffer in the near future, I will lose my job and we will end up losing my house.

Can anyone advise is there anything I can do to prepare or do I just baton down the hatches and wait....

ETA: Apologies if I come across naive or daft but I just want to be in the best position possible - thanks

andy_c_c

Hello evreyone, my first post so please be kind

Just seen this, think things could start to head this way here?
http://www.youtube.com/watch?v=CnnOOo6tRs8&fmt=18

I look forward to a time when I can buy my own place insted of renting, but the thought of things getting this bad is scary.