House Price Crash Discussion Thread

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Is this big crash really going to happen? People have been waiting for it to happen for a while but things seem quite static.

Certainly I cannot see any enormous drops in house prices. Remember, it is relative anyway and any house price drop will not affect you unless you plan to down-size. For everyone planning to up-size then a crash would be beneficial?

Harry_Powell

has a crash happened? I missed it

nembot

You're posting in a thread that started in 2007, which covers exactly what happened during 2008-2009 and then suggesting there was no crash?

That's a rhetorical question btw

gillez

Or he's just saying he missed it. Maybe he's been living in a box for the last three years? Or maybe he's only twelve and so doesn't pay attention to house prices and crashes?

harryhound

Harry_Powell wrote: »

has a crash happened? I missed it

Yes it happened in 2009 but "good" areas have bounced back again;
however the government engineered a 25% crash in the value of the currency, partly by slashing interest rates.
This has cushioned mortgage payers from default, but has the country's creditors (and many of its pensioners) chewing their elbows.

HAMISH_MCTAVISH

Harry_Powell wrote: »

has a crash happened? I missed it

You must have blinked then.....

thesavvysaver_2

Is it just me or are the house prices all over the place, I looked at 2 houses on the same road today (fairly identical, one was 225k and the other was 200k - there was no discernable difference! im confused? is now a good time to buy?

Sibley

Is it just me or are the house prices all over the place, I looked at 2 houses on the same road today (fairly identical, one was 225k and the other was 200k - there was no discernable difference! im confused? is now a good time to buy?

It hardly makes a difference when you buy if you are after a decent house in nice area.
They don't really go down much. A % here and there but unless a seller is desperate they will sit tight for the right price. So many sold cheap in the 90's then had to swallow a bitter pill watching prices shoot up and somebody else make the money. Get on the ladder before you are the one without a chair when the music stops.

van_persie

Sibley wrote: »

It hardly makes a difference when you buy if you are after a decent house in nice area.
They don't really go down much. A % here and there but unless a seller is desperate they will sit tight for the right price. So many sold cheap in the 90's then had to swallow a bitter pill watching prices shoot up and somebody else make the money. Get on the ladder before you are the one without a chair when the music stops.

SPONSORED BY 'PLEASE, PLEASE DON'T LET MY HOUSE DROP IN VALUE, PLEASE, PLEASE' INC. 2010

Yeah, people will 'sit tight' waiting and waiting for the 'right price' until they realise that next door sold for 100K less...then they'll either become forced sellers and drop their price or withdraw from the market and keep dreaming that their place is 'worth' whatever they damn well please.

Blacklight

van_persie wrote: »

SPONSORED BY 'PLEASE, PLEASE DON'T LET MY HOUSE DROP IN VALUE, PLEASE, PLEASE' INC. 2010

Yeah, people will 'sit tight' waiting and waiting for the 'right price' until they realise that next door sold for 100K less...then they'll either become forced sellers and drop their price or withdraw from the market and keep dreaming that their place is 'worth' whatever they damn well please.

Or alternatively prices will remain fairly stable for the foreseeable future because there is nothing to trigger a return to the 20% fall we saw in 2008.