House Price Crash Discussion Thread

harryhound

http://news.bbc.co.uk/1/hi/business/7374730.stm

The Nationwide index seems to measure house buyers with a lower socio economic profile than customers of Halifax. It is seasonally adjusted.

So the message is that there has been no spring bounce this year. Is anyone surprised?

Look out for the next Halifax report and see what their quarterly "smoothing" can be dressed up as this time.

budget_counsellor_shaz

Reuters
http://uk.news.yahoo.com/rtrs/20080430/tuk-uk-britain-houseprices-nationwide-fa6b408.html



BBC
http://news.bbc.co.uk/1/hi/business/7375069.stm

NEW PREDICTIONS FOR 2008
CML "negative"
Halifax "modest decline"
Nationwide "modest falls"
Rics -5%
John Charcol -7%
Capital Economics -8%


Sky
http://news.sky.com/skynews/article/0,,30400-1314484,00.html


But don't worry...............

'Brown aims to get housing market moving again'

http://uk.news.yahoo.com/rtrs/20080430/tpl-uk-britain-brown-20b2d2f.html

boinging_2

pawpurrs wrote: »

thanks for your reply.
My concern I guessismoving to a moreexpensive property at this time,and therefore possibly seeing a greater loss? Its also the cost of moving with stampduty etc.
The housing market is so difficult in this country a stable one in line with inflation would be good:p

But then you wouldn't have the equity in your house... You can't have the good times without the bad.

kateharv

Hi John
We could afford the mortgage at the standard variable rate but it would leave us a bit tight. I would say over the next five years both of us will be earning a bit more. I'm not sure it would be classed as significant though - maybe an extra 10-15k all together? No chance of coming into a lump sum unless we win the lottery! I don't think we'd get a rental value that would cover the mortgage payments. If we had to stay in the house for another 5 years it wouldn't be the end of the world but I think we'll be severely outgrowing it in a couple of years. I think I'm just clinging to blind hope that we might have a bit equity in the house next year when we come to remortgage so that we can make the decision about whether to stay put or move.

I'm not sure what the situation is with the fact that 5% of the mortgage is an unsecured loan. I know if we move away from Coventry then the interest rate goes up significantly but I'm not sure what happens if we take another conventry product - does it mean we only have to get a 95% mortgage? It's all a bit confusing.

harryhound

The Halifax result is in this thread complete with the usual 3 month spin.

http://forums.moneysavingexpert.com/showthread.html?p=10634677#post10634677

neverdespairgirl

My son just dropped his bottle through the railings on our landing, and it fell two stories on to a stone floor.

There has been no spring bottle bounce. Instead, there is an exploded bottle, 3 million tiny bits of plastic, and oddly, given it was a 9 ounce bottle, 3 gallons of milk all over the place.

I think this is a pretty accurate metaphor for the housing market.

JonnyBravo

neverdespairgirl wrote: »

My son just dropped his bottle through the railings on our landing, and it fell two stories on to a stone floor.

There has been no spring bottle bounce. Instead, there is an exploded bottle, 3 million tiny bits of plastic, and oddly, given it was a 9 ounce bottle, 3 gallons of milk all over the place.

I think this is a pretty accurate metaphor for the housing market.

Why? Does your son look like Gordon Brown?

neverdespairgirl

Have a look at my avatar and judge for yourself!

in my entirely unbiased maternal opinion, he looks nothing like GB, fortunately.

Jorgan_2

neverdespairgirl wrote: »

Have a look at my avatar and judge for yourself!

in my entirely unbiased maternal opinion, he looks nothing like GB, fortunately.

Your right, nothing like GB, he looks like he's enjoying himself.

mr.broderick

neverdespairgirl wrote: »

My son just dropped his bottle through the railings on our landing, and it fell two stories on to a stone floor.

There has been no spring bottle bounce. Instead, there is an exploded bottle, 3 million tiny bits of plastic, and oddly, given it was a 9 ounce bottle, 3 gallons of milk all over the place.

I think this is a pretty accurate metaphor for the housing market.

You need a break from this forum.....