House Price Crash Discussion Thread

Blacklight

Sibley wrote: »

Hello again Hamish. I guess you got shown the HPC door as well.

Anyone with an opposing view did. It hasn't been a place for debate and banter for a long time. It's all one way traffic and the tail chasing fanaticism seems to have driven some tin foilers really over the edge.

Sibley

Anyone with an opposing view did. It hasn't been a place for debate and banter for a long time. It's all one way traffic and the tail chasing fanaticism seems to have driven some tin foilers really over the edge.

They remind me or a religious cult.

They had a lot more respect when they let bulls post. There is no point to the website when they just weed out anyone with an opposing view.

I knew I had them running scared for ages. At the end of the day all their graphs, figures, insider trading and silly house offers got them nowhere. Only humiliated.

Before the governments measures to protect the hard workers in our economy it might have been possible for prices to crash. Once the government stepped in and sent the message out that homeowners would be protected the game was up for them.

I bet they are seething. I'm not. The needs of the many outweigh the needs of the few (As my hero Dr Spock once said).

We were not going to let the country fail to please a bunch of bingo callers wanting a bargain property sorry. :rotfl:

julieq

Indeed, and not the least amusing aspect of the crashers is their indignation and surprise that a democracy comprising an overwhelming number of owner occupiers acted to support the interests of, well, owner occupiers. I mean, like DUHHHH, lol.

Engeroosi

There would be more people affected dramatically if prices were to crash as they would be left with mortgages that are alot greater than price of their property.

It's all the people who don't have a mortgage who are trying to get the crash just so they can feel better about their inability to get on the property ladder.

My thoughts are that depending on where you live different things will happen, where it's a steady market it will remain that way, where there was a major boom, there will be a crash, which will then boom back to where it was at the start of the crash quickly.

I think that makes sense, it does to me anyway

sabretoothtigger

The hpc crowd might be ok if they are also gold bugs, if they rate cash over houses it might be an expensive lesson in the history of the 1970's but Im sure some who post there will remember .

A house is always going to be more practical though less liquid, so it may become a measure of how transitional society becomes for gold vs house price performance

I,_Brian

The most telling point to me is when you compare past falls to the current one.

In the 90's, house prices fell over a period of around 3 years, and did not start to recover until towards the end of the decade.

And yet now, with the worst economic conditions for nearly a century, we're expected to believe house prices only fell for less than 12 months before bounding back.

Supply is only an argument if you have buyers - I think we just saw the last major cash buying rush with the mini property boom last year.

In the meantime, would be far more interesting to see an historical chart of house prices modified by inflation, to get an idea of actual real values. Because at present, property is losing money through inflation, and if you check Rightmove and similar sites using the Property Bee plugin for Firefox (http://www.property-bee.com/), you can see there's a lot of inventory around still from 2009, and they are continuing to cut prices but still not selling.

IveSeenTheLight

I,_Brian wrote: »

The most telling point to me is when you compare past falls to the current one.

In the 90's, house prices fell over a period of around 3 years, and did not start to recover until towards the end of the decade.

And yet now, with the worst economic conditions for nearly a century, we're expected to believe house prices only fell for less than 12 months before bounding back.

Interesting that you choose to measure on timescale rather than on a price comparison.
Certainly this correction was greater nominally and as a percentage than the one in the 90's

So yes the correction was shorter, but to a greater level.

P.S. I believe the correction this time lasted more than 12 months

nearlynew

The "correction" hasn't ended yet though.

House prices are continuing to fall.

FTBFun

In some parts of the country they are, some not.

IveSeenTheLight

FTBFun wrote: »

In some parts of the country they are, some not.

In some parts of the country they are, in most not