House Price Crash Discussion Thread

puppy999

No I am in Lancashire

Charles1968

puppy999 wrote: »

No I am in Lancashire

There's no way Lancashire has fallen that much. One or both of your valuations is supsect.

Zoran_Ilievski

Bullfighter wrote: »

Garbage. Utter garbage.

If your logic was correct then the house average house price in 40 years time will be £5.12 MILLION. That means that the average buyer would need to be earning £1.7 MILLION a year.

And what's the problem there?

Those numbers are arbitrary designations, depending on the rate of inflation, the numbers could be anything.

johnwarner75

if it get too long -divide and conquer!

adyj73

I spent 105k on my house 5 years ago. Similar house 3 doors down just gone on the market for 64k and still no takers. I guess the 99k I am asking for mine is going to be unsold for a very long time

This is in Blackpool where houses seem to be devaluing daily and I see things getting worse.....

scotty1000

I reckon the house price drops will slow, and then go up continually like they have done in the past as economies start to recover..

BUT, the more countries that get in trouble, especially America, the more banks are going to panic. The banks have lent £billions to european countries and IF any of them default I think we could have a banking crisis far worse than the one a few years ago. Then house prices would crash big time!

Basically if countries sort them selves out, I think house prices will rise within 2 years. And if they default on their debts, house prices will crash.

nomobel

As the share prices of many banks in the so called "first world" have halved this year they are in danger of not covering their capital requirements and will be unable to lend. That will drive house prices down pretty quickly. It will take years before they recover. Japan had this problem decades ago and they still have not recovered.

IveSeenTheLight

Bullfighter wrote: »

Garbage. Utter garbage.

If your logic was correct then the house average house price in 40 years time will be £5.12 MILLION. That means that the average buyer would need to be earning £1.7 MILLION a year.

What was the average price and earnings 40 years ago i.e 1971.
Compare that with today and see the difference.

hazeblye

When the price of an existing home doubles, triples, quadruples, hey, it's bubble-time. Foolish buyers willing to pay inflated prices due to psychology, not wise fiscal behavior.

thebestdeckingman

Yep, same spent 100k on my house 5 yrs ago, guess what its worth now lol

....not much