House Price Crash Discussion Thread

Nenen

m00m00 wrote: »

consider it done, first 'report on cb1' will be here in 7 days time

I'll grab a 'base sample' this afternoon.

OOOh I'm all excited now! Can't wait to see the 'proof' rather than my estimates and overall gut feeling! Thanks MooMoo! :beer::beer::beer::beer:

bo_drinker

Be gentle it's my first post. We had sold and so were looking to buy elsewhere until a couple of weeks ago when our buyer bailed out Up until that point we went after 3 houses and missed all 3 in a row. It seems to be that if a property has "issues" say position, parking or garden size/ not facing the right way etc they are sticking. If not they are selling if up for the right price. There are some around here that have been on the market for up to and maybe over 12 months. Needless to say ours is back on the market. Watching TV and reading papers this last week I would say the media etc want to stick the last nail in the coffin. Selling houses has become like selling a car if it does not sell then you have to lower the price until it does. Not every one can play by those rules and there are some that could but will not.

carolt

Certainly - in a rising market, people will buy something even if it's not perfect just to get somewhere. But in a potentially falling market, where the buyer could end up getting stuck there (due to negative equity) for some considerable time, if the worst came to the worst, people think twice about buying any house they view as less than perfect.

Hopefully, for people such as yourself, assuming you want to trade up and not down, falling prices across the board will make the place you are trying to buy nearer your grasp rather than further. But it may take a few months or even year or two of steadily falling prices across the board for that realisation to kick in with all sellers.

gingin_2

Nenen wrote: »

I know exactly what you mean PN! It is certainly difficult to make ends meet living here. City houses are either 0.5 million ++++ or ex-LA for about 0.25- 0.33 million+! I do think Cambridge is a beautiful city though. I love the cultural mix, the history of academic excellence and the amazing architecture. We've also got fantastic theatres, cinemas, museums etc on our doorstep... as well as quick links to London and most of the rest of the country. It also feels relatively safe compared to most cities I've been in. I guess that's what makes it so expensive! As you can see... I'm trying to look on the bright side today!

We are central Cambridge too Nenen and love it for all the same reasons and it is a fantastic place to bring up young children. We can only afford it because we rent and husband commutes into London. I just love it for the kids and have no desire to move out to a village. We are seriously considering moving to London or the London side of Kent just because the commute is extreme, but the draw of Cambridge is stopping us at the moment. It's very much 50/50 for us and i suspect that house prices might sway the decision if Cambridge remains stubbourn in the next 18 months.

My rough rightmove stats show 427 houses (not including flats) for sale the 1st weekend of march within central Cambridge and as of today it is at 481 houses.

The only drops I can really see on property bee are those that were extremely overpriced to begin. The central Victorian semi's/ terraces (exactly what we are after) still seem to be selling.

m00m00

CB1 342 (all property types, including stc)

is today's figure for the area nenen asked me to track.

neverdespairgirl

gingin wrote: »

We are seriously considering moving to London or the London side of Kent just because the commute is extreme, but the draw of Cambridge is stopping us at the moment.

How long is your OH's commute?

gingin_2

neverdespairgirl wrote: »

How long is your OH's commute?

Door to desk and vice versa is taking him 3 1/2 - 4 hours a day (morning commute can be just over 1 1/2 hours on a good day and evening around 2 hrs). He stays in London 2 nights a week. Most people think we are mad .

neverdespairgirl

PasturesNew wrote: »

She IS posh isn't she.
I've not read the bible, certainly wouldn't ever quote from it.

I bet you're off thinking about hockey fields and gymslips now.

Having read the Bible is the result of a church school, not posh-ness (-:

It's a great thing to read. So much of our history and culture is based on it, that it's important, IMO.

neverdespairgirl

PasturesNew wrote: »

Well "there". Nobody lives "there". "the people" all live on the outskirts/in the villages (only posh people and council houses in the town). But you know what I mean.

Lots of students, though?

m00m00

BSA figures show that 33pc of all new mortgages are now advanced on an interest-only basis, compared to only 13pc five years ago.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/12/cnmortgage11.xml


a fixed term interest only mortgage, in a flat or declining market ?


prediction : Pain.