House Price Crash Discussion Thread

Scabs

IveSeenTheLight wrote: »

This is not the case everywhere.
I bought a BTL flat last year and the rent received more than covers the mortgage and associated costs.

I have been trying to find an investment which covers the mortgage (never mind the associated costs) for last 3 years. Well done.

merlinthehappypig

Tucker says Bank can only partly cushion credit blow:

http://uk.news.yahoo.com/rtrs/20080403/tuk-uk-britain-bank-tucker-fa6b408.html

boinging_2

borntobefree wrote: »

This is abit much especially as there is no evidence to back it up.
B2bF

Your quite right there is no evidence to back up the fact that house price inflation is falling, that actual prices on the streets today are falling, that mortgage approvals are at their lowest for 12 years or that there is a shortage of money in the banking system.

Apologies I seem to have misread all the news of the last 5 months.

I'm off to buy a house quick before it's too late.

Mr._H_2

borntobefree wrote: »

oh and I'm off to sell mine :rolleyes:- must pay out loads in rent and rack up a load of stamp duty

Stamp duty is paid when you buy, not when you sell.

borntobefree wrote: »

....oh and I mustn't forget the estate agents and the solicitors....I'll be wanting to give them a load of money. And why am I going to do this cos I "might" just a couple of quid sometime in the next few years....and cos some bloke on MSE said I should.:eek::cool:

"A couple of quid"? I think it's more than that. I used to be of the opinion that the property market would stagnate, but I kept my eyes and mind open and cannot deny the evidence in front of me. The credit crunch has lasted longer than I expected and is still getting worse rather than better; house prices have fallen for 5 months in a row. House prices are not stagnating, they are falling. A "crash" is a real possibility.

abaxas

borntobefree wrote: »

House prices have not fallen by enough to actually make "real" money by renting. If you are planning on getting back into the market then stamp duty needs to be factored into any profit/loss you make. A "crash" is still only a possibility not a reality. I'm still not sure that the HPCers are going to make the money they think they are but we'll see.

We've just been arranging a new rental.

Filled in all the forms.. Put down 'non smoker' 'no kids' etc.

Went round to chat with the LL, and he lights up a tab in the living room.

Couldnt make it up.

PayDay

borntobefree wrote: »

My neighbour has just exchanged for £750k.....there's still poke in the London market.:D....bet that disappoints all you HPCers:p

Put the righttmove link up.

pickledpink

Just out of interest how much in savings would you need to earn enough interest to pay your rent each month? I'd have thought you'd need a fair whack to earn £1000 pm interest -or even just £500 pm interest.

So how much in savings would you need?


PickledPINK

Turnbull2000

!!!!!!? wrote: »

Who on earth said that the credit crunch is a good thing?

It's certainly a good thing if house prices become more affordable that doesn't make the cause a good thing.

Too bad it took a near-meltdown of the global financial system - caused ironically by reckless mortgage lending - to make the house price correction happen.

Exactly. I always find it funny that those nasty HPCers are accused of wishing misery on others, when the repercussions people face is the consequence of an asset bubble the accusers celebrated so much.

snoopy78

borntobefree wrote: »

My neighbour has just exchanged for £750k.....there's still poke in the London market.:D....bet that disappoints all you HPCers:p

So what a friend of mine has just bought a 3 bed room flat in clapham for £20K under what the BTL LL purchased it at 2 years ago,

...this and your story proves nothing pointing out one or two examples does not prove or disprove anything.

PayDay

PayDay wrote: »

Put the righttmove link up.

Where is that rightmove link borntobefree?