House Price Crash Discussion Thread

LisbonLaura

The Ultimate post, from codger at 12.10pm.

Thank you.

I think it should a sticky. A morality lesson where it is sorely needed

geoffky

abidan wrote: »

Don't understand Turnbull, what's to laugh about, look at the stats! Yes eventually there will be a correction of sorts but people have been saying it for years!!! Those people that were saying dont buy prices will fall back in 2001 will soon say well i told you so in 2008! Unfortunately for those people who listend to them all them years back it is far too late. The government insist in letting in more and more people into this country, we are a small island, there are less and less council homes to rent, people owing 2nd homes to let out is on the increase, divorce is rising........... i wont go on its all inthe article on my site! Simply put as you quoted me forums like this prove that people are desperate for house prices to fall and as such that measn they are desperate to buy, as i say, just as soon as they fall people start buying again, i would not say they will go up much but i dont reakon they will go down much either!!! The only way house prices will start to go downis if the countries ecconomy starts to falter dramatically and unemployment rises!!! We are coming into a new era where parents remortgage to help their children buy houses and until people stop seeing owing a house as crucial to your financial future dont expect any major correction in the housing market!!!!

Abi Andrews

http://www.lets-makemoney.co.uk/property_investment.php

i think its about time you have to get a real job instead of leeching off people via a fee.some people in this country earn the wages they get you do not,what do you produce not a thing,you just leach off other peoples deals..and if you cannot see whats coming and its all bad for you,,,you will be bankrupt by this time next year...

tobuyornot3buy

Hi there - i'm in the process of buying a 2 bed in gipsy hill, london (having searches done) but am becoming more and more concerned by the imminent price crash. Am currently thinking of pulling out - any advice? Have read newspapers and all seem to be pointing to 'not a good time to buy'... thanks in advance...

HammersFan

There is a strategy for people who are unhappy about over-priced houses. Don't buy one. Rents have risen at a rate well below house price inflation. And savings rates are good(ish) at the moment. It does mean that you won't ever own a house, but its an individual decision / viewpoint as to whether that really matters anyway. But I think you have to then be prepared to pay more in the future if you change your mind. I still think there's decent logic in buying if the interest on the loan is around the same as the rent you'd pay on a place anyway if you are planning to stay put for a few years.

geoffky

tobuyornot3buy wrote: »

Hi there - i'm in the process of buying a 2 bed in gipsy hill, london (having searches done) but am becoming more and more concerned by the imminent price crash. Am currently thinking of pulling out - any advice? Have read newspapers and all seem to be pointing to 'not a good time to buy'... thanks in advance...

do your own research.=
dyor

well m8 can you stay there for the next five to ten years if you end up in negative equity and is it a flat as these are deemed to be going to fall the worst and have been for three months now,can you afford rate rises that may come and will you be comfortable knowing you could of got a place £20,000 or £30,000 cheaper.this is not certain to happen but we have never had a time in the last ten years where is was more likely to happen. you must do more research and never offer asking prices, i was going to buy september but have put it off till june when i am going to have a look at the market again,but i am watching the markets every day and like what i see,,,, good luck

geoffky

. It does mean that you won't ever own a house, but its an individual decision /


what absolute crap,,, i have never heard so much tosh..hey you might get one for a lot less than now.....does it mean i wont ever own a house ..i bet you ten grand i will......your stupid comments help no one unless you have a intrest or are scared as to whats coming...fool

LisbonLaura

tobuyornot3buy wrote: »

Am currently thinking of pulling out - any advice? ...

Steps

1)Multiply your annual salary by 3.

2)Does this equal the price of the property?

3)If not, wait until it does.

4)This might take a few years in London.

5) Ask Abi

6) Buy a truck/van you can sleep in & go travelling. It's so much cheaper than surviving in the septic isle

7) Don't take 5 seriously

Pobby

ses are on the way down.

tobuyornot3buy wrote: »

Hi there - i'm in the process of buying a 2 bed in gipsy hill, london (having searches done) but am becoming more and more concerned by the imminent price crash. Am currently thinking of pulling out - any advice? Have read newspapers and all seem to be pointing to 'not a good time to buy'... thanks in advance...

Think you are right to be thinking of pulling out.If the flats are new build I wouldn`t touch it with a barge pole.My guess is there is a storm coming and by April next year we will be experiencing it`s ferocity.

[Deleted User]

London was the worst effected by the house market crash last time and itll be the same again, due to the mentality of the average person in london vs that of people up north who are much cleverer and choose to live in big mansions at 3 times there salary rather then pokey bedsits with heroine users at their doorstep.

BTW I live in surrey so im stupid too lol.

HammersFan

geoffky wrote: »

. It does mean that you won't ever own a house, but its an individual decision /


what absolute crap,,, i have never heard so much tosh..hey you might get one for a lot less than now.....does it mean i wont ever own a house ..i bet you ten grand i will......your stupid comments help no one unless you have a intrest or are scared as to whats coming...fool

Calm down, and no need for the abuse. My point was that always renting is not a bad choice if you think the figures stack up. But if you always rent you never own a house (unless you can save loads while paying rent). If interest on the house purchase costs the same as rent then its purely a choice based on your own personal values. Ten grand, that's quite a bet - you must be determined, so there's nowt to stop you IMO. I just don't think a price crash is gonna be happening to make it easier for you (unless you are after a city centre new build, where prices are barmy).