House Price Crash Discussion Thread

TheGoldenChild

Only time will tell if prices rise in 2010.

I personally cant see this happening with the public sector job cull coming, contined job losses, continued tighter lending & disposable income deplenshing.

IveSeenTheLight

divadee wrote: »

After seeing the hundreds of threads started on a house price crash scenario, it is clogging up the boards.

After seeing house prices rise throughout 2009, is there a need for this thread to still be a sticky?

harryhound

We got a mini crash this time last year of about 15%.
We also have the seller's strike, as in former downturns.
We have the ripple effect, where increases start in SW London (I think there are lots of places "up North" that are still well below the peak).
This time round we have massive deficit financing and we are currently in a fools economy.

Where is the "Pound Sterling 30% devaluation junk currency" thread.

camper_1982

House prices definately are rising again. Or should i say asking prices are definately rising again.
People are buying, i went to one house and they had 13 viewings to get through (property was new to market).
In the last few months they have really shot up round here.

uk_property_expert

There is a way to sell a property that is in negative equity without having to put your hands in your pockets. You exchenge contracts with a long stop completion normally 5 years and put an instalment contract in place so your mortgage gets paid. Its better then renting as you get a bigger deposit when you exchange. For more details email me. You can also use options and lease options like they do in Australia and america as long as you can find a solicitor who knows how to do it.

harryhound

More borrowing from the future, this time by speculators who are certain that only inflation can get rid of the debt overhang.

It does sound a bit better than the "we will let you rent it back" promise that is good for 6 months or a year.

If a solicitor cannot explain what put and call options are - get another solicitor who does, of you want to swim amongst the real speculators.

It really rather depends on the level of "heat" in your local market. But in a hot market you can probably sell and move in 10 weeks anyway.

Catbells

Have lived in my home for 23 years and its my pension as I'm about to retire. 18 months ago it was valued at £1m now its gone up to £1.75m and I've had 4 offers on it one for £1.5m. True I havent exchanged yet but things have definitely improved and there's more buyers than sellers. I did have an offer from one who wanted to pay me £950k now and the rest in 2 years time - delayed completion date. Some folks have a cheek!

harryhound

Depends where you live.
In broad terms, where are you Catbells?

LoopyLuna_2

ah this forum seems slightly more positive about the current state of affairs =] Its nice to see some people have stopped acting like the a few newspapers... (4 months ago it was a bit to : the end is nigh,debt,unemployment shudders, for my liking).
Dont get me wrong I don't think people should be taking out credit cards left right and centre and start spending money they don't have again.
In my personal opinion the media has a lot to answer for... I mean reading previous messages/discussions on this im surprised some people even been able to leave their house due to the fact that the end of the world is coming...
unemployment has risen yes but again scare the public into this state of mind
: you will lose your house if you spend.. = no retail/property sales = businesses pulling out the champagne singing *I got a lovely large bonus.. and this will make everyone grateful for their job... lets make them suffer* =] personally things look a little brighter (not a lot but theres light at the end of the tunnel ext)

harryhound

Some of us think we are in that little patch of calm you get at the eye of a storm.
Every day the national debt is going up - who is going to pay it, or even the interest on it?

Don't expect a politician to be honest this side of the election.