House Price Crash Discussion Thread

abidan_2

So Codger why are you on this forum? Do you want prices to fall? Have you got a house? You obviously have a vested interest in a fall but you wont tell anyone why?:D

pamaris

abidan wrote: »

So Codger why are you on this forum? Do you want prices to fall? Have you got a house? You obviously have a vested interest in a fall but you wont tell anyone why?:D

You are making a faulty assumption. Just because someone believes that something will happen does not mean that they will benefit from it. Many people want prices to fall for the overall good of the economy and the citizens of the country. They just happen to be thinking of the bigger picture.

ETA: I have a vested interest in a fall. I want a secure home to raise my children in. This isn't all about making money... some people just want a home.

abidan_2

Once again misquoted, please read what i am saying, i was trying to point out exactly what you atually just said for me, you want a home to raise your family in, precisely why you need prices to fall! I never said it was all about making money! Once again as i say i feel for all those people who so want and deserve a house to bring their familys up in i would have been one of them had i listened to all those stupid analyts predicting a fall in property in 2001/2002, i was lucky that i really had no choice but to buy so i did! but just becuase everyone says it will fall and everyone wants it to fall does not mean to say it will!

Pobby

Oh er misses,here`s another paper that thinks it`s all a bit dodgy

http://express.co.uk/posts/view/27017/100-days-to-halt-housing-crash

Now if next week we read in the Sunday Sport ``House prices will go so low they will be cheaper to buy than Saucy Sallys thong`` then we know we have a real problem!

abidan_2

read up at my previous post!

Yep thast another article there pobby saying thast prices will crash, like was said in 2001, 2002, 2003, 2004, 2005, 2006, 2007!!! Perhaps they will be right this time but of course eventually they will be they have said it for the last 7 YES 7 years!!!!! :rotfl:

jubblyjimbo

abidan wrote: »

Here is a good site for you to look at where most analysts including the renowned savilles do not believe a house price crash is around the corner for 2008. Most belive it will flatline or rise with very few suggesting a fall.
http://www.housepricecrash.co.uk/#statistics

I've no wish to knock what Savilles are saying, but they are an estate agent and have a vested interest in talking the market up. If they were to suggest a crash was coming that would be similar to a turkey voting for Christmas.

Also, we need to understand that whether the market crashes or booms, one thing it wont do is end in a "soft landing". Markets just dont work that way - its human nature determining market sentiment - either the market booms (bcause of greed) or it crashes (because of fear). No asset bubble ever has ended in a "soft landing".

JohnInDebt

abidan wrote: »

read up at my previous post!

Yep thast another article there pobby saying thast prices will crash, like was said in 2001, 2002, 2003, 2004, 2005, 2006, 2007!!! Perhaps they will be right this time but of course eventually they will be they have said it for the last 7 YES 7 years!!!!! :rotfl:

But doesn't that tell you that when the bubble does burst it's gonna be a big one!

Pobby

Hey Abi,I have no problem regarding your posts.Don`t really agree but what the heck.The wider picture though is not too great.1.3 trillion pounds owed,lots of folk taking out loans,oops sorry,equity release to buy gee gaws,a credit crunch(just imagine the lie to buy brigade getting a good deal when their fixed rate comes to an end this year).as someone who sells luxury goods(and as Ratner said,some of which is utter crap) things have really slowed up the last 2 years.

Truth is,I believe we are on the cusp of a change.Having basked in historically low interest rates,the party is over.I truely believe that next year will bring on massive corrections.

Btw,please don`t think i have vested interests in property prices.Bought and paid for.my investment portfolio is of cash/low risk.Living life low,would rather save than spend.

secondtoughest

Right, lets get back to normality.

I'm exactly the type of person 'the economy' wants on the housing ladder. I'm a single FTB earning mid £20k in a comparitively stable industry. I have a £10k deposit. I'd move into one of those crappy little new build 2 bedroom flats in an instant just to get my foot in the door. That's the kind of property that typifies 'first rung' in 2007.

But I can't. None of us can. In my area the minimum price is around £160k. And therein lies the problem.. there's nothing to kick start the housing process, none of us to sustain the growth and the future is looking a bit grim further up the ladder.

What 6 months ago seemed hopeless to me, now seems like an opportunity in 12-18 months. And what 6 months ago was a fat wad of equity for all those 2 home owners (call me bitter but it's the one of the biggest economic inequalites in this country today) now seems like a growing problem.

What goes up must come down.. and when it does all us FTBers will start the whole process off again.

We don't want much, just a home. Paying off someone else second mortgage is just.. painful

Pobby

secondtoughest wrote: »

Right, lets get back to normality.

I'm exactly the type of person 'the economy' wants on the housing ladder. I'm a single FTB earning mid £20k in a comparitively stable industry. I have a £10k deposit. I'd move into one of those crappy little new build 2 bedroom flats in an instant just to get my foot in the door. That's the kind of property that typifies 'first rung' in 2007.

But I can't. None of us can. In my area the minimum price is around £160k. And therein lies the problem.. there's nothing to kick start the housing process, none of us to sustain the growth and the future is looking a bit grim further up the ladder.

What 6 months ago seemed hopeless to me, now seems like an opportunity in 12-18 months. And what 6 months ago was a fat wad of equity for all those 2 home owners (call me bitter but it's the one of the biggest economic inequalites in this country today) now seems like a growing problem.

What goes up must come down.. and when it does all us FTBers will start the whole process off again.

We don't want much, just a home. Paying off someone else second mortgage is just.. painful

Hmmm,can I just say,what a great post.I am probally 30 years older than you but truely you have my support.