House Price Crash Discussion Thread

tr3mor

hgllgh wrote: »

As I suspected ... we just have a load of overlapping discussion threads.
AND, Divadee has closed my thread on this matter.

Does anyone else think we should push for a House prices board?

All we need is one more board... Rename the existing board to:-
"House Buying, Selling, and Renting"
and create a new board for "House prices".

This board needs dividing into:

Buying/Selling: Advice on estates agents, moving, fees, viewings, etc.

Renting: Advice for LLs and tenants, etc.

Markets: Anyone wanting to predict the future, so that we don't doom-monger on anyone else's parade.

hgllgh

I agree, but we will be lucky to get one extra board let alone two.

I am about to send a private message to the other board guide and to MSF Andrea to try and push this through. It seems to be what everyone wants.

How do you start a poll on this site?

merlinthehappypig

I agree with the sentiment in the last few posts.

Yes, any discussion about house prices will attract both extremes of views, but debate is to be welcomed surely? Most of us can spot the troll posts and ignore them, but buying a house is the most expensive financial commitment any of us will ever make.

I have bought and sold 7 times now and am in the unfortunate position of wanting to stay renting for 12-18 months, but probably having to buy because of my family situation.

The 'crash or not' debate is certainly making things more difficult, but I don't want to go blindly into a big purchase that I might later regret.

Most people who post on here regularly have very well informed views and express them intelligently. I, for one, appreciate the help and advice, but am perfectly capable, in the end, of making my own mind up and don't need the crash discussions posted safely out of harms way (and mysteriously disappearing)

If I have doubts as a seasoned house buyer (one who participated in the crash in the late 80's) then FTB's need all the help they can get.

I'm not advocating 'doom-mongering' for the sake of it, but a healthy discussion pointing out that house prices can go down as well as up can't do any harm. Most younger people have no idea that their house might lose value. If you actually stopped and looked hard ( as I have recently) at just how much a house costs, purchase & taxes, as well as mortgage interest, we would all run a mile if it wasn't for the investent potential. If that is in danger of disappearing in the short to medium term, then it should be discussed.

Romani_Ite_Domum

tr3mor wrote: »

This board needs dividing into:

Buying/Selling: Advice on estates agents, moving, fees, viewings, etc.

Renting: Advice for LLs and tenants, etc.

Markets: Anyone wanting to predict the future, so that we don't doom-monger on anyone else's parade.

Gets my vote.

rheme

dreado wrote: »

Thanks for your replies m00m00 and !!!!!!?, very useful.

The discount I would get (as of next January) is 50%, with a cap of 37,500. I don’t know how much the flat is currently worth, but if it helps it a first floor, one bedroom.

Would being in an area with lots of new builds make a difference? My town has LOADS of new apartments, anywhere remotely near some water is being tagged "riverside living" or something.

Could anyone recommend a good way for a layman to start to keep an eye on what’s happening with the market? Perhaps some websites?

Try this website to see falls in property prices in your area

www.propertysnake.co.uk

AmbleBall_2

tr3mor wrote: »

This board needs dividing into:

Buying/Selling: Advice on estates agents, moving, fees, viewings, etc.

Renting: Advice for LLs and tenants, etc.

Markets: Anyone wanting to predict the future, so that we don't doom-monger on anyone else's parade.

I second this very good idea.

Yes fish n chips still good try the Harbour one next time Tr3mor

budget_counsellor_shaz

The Barnard Marcus auction was suprising today a number of properties didn't reach as high as previous auctons. They seemed to be struggling to sell

http://www.barnardmarcusauctions.co.uk/

Maybe its the time of year.......or are buyers being cautious?:rolleyes:

Nenen

tr3mor wrote: »

This board needs dividing into:

Buying/Selling: Advice on estates agents, moving, fees, viewings, etc.

Renting: Advice for LLs and tenants, etc.

Markets: Anyone wanting to predict the future, so that we don't doom-monger on anyone else's parade.

I agree totally... I am an avid reader and contributor to this board (among others) and am really struggling since all HPC threads have been moved to this one sticky thread as there are too many different discussions to follow things easily. I have gained soooooooooooooo much good advice from previous posts and lots of food for thought including consequneces of MEWing. I used to love reading all the conflicting opinions (even the trolls made me laugh) and it gave me both sides of the arguement so that I could decide on my own take.
We are currently renting having sold (although not deliberately STR, just circumstances at the time) and appreciate all the opinions/advice we can get re making the largest purchase of our lives. I would respectfully urge (whoever has the power) you to create the three sub-boards as outlined by tre3mor above.:beer:

Doozergirl

budget_counsellor_shaz wrote: »

The Barnard Marcus auction was suprising today a number of properties didn't reach as high as previous auctons. They seemed to be struggling to sell

http://www.barnardmarcusauctions.co.uk/

Maybe its the time of year.......or are buyers being cautious?:rolleyes:

Local auction last night - I dont even bother with them as the prices are stupid. Not last night, a friend went; two in our town, one went for a good price, the other didn't even bid up to a good price - good house, very busy road - offputting for some but a bargain at the price it went to. Didn't sell.

(I agree a sub-board is in order - has anyone actually posted on the questions and suggestions board?)

Nenen

Doozergirl wrote: »

(I agree a sub-board is in order - has anyone actually posted on the questions and suggestions board?)

I've just posted a poll on there... hope that's OK! I'd really appreciate anyone who has an opinion on this joining the thread and voting. This is the link:
http://forums.moneysavingexpert.com/showthread.html?t=582940

:beer: