Something fishy

buggy_boy

Crashy_Time wrote: »

Nearly all your posts are just trolling people who say the obvious facts - property is over-priced, and in big trouble when interest rates rise and if Brexit goes bad. I thought you were a millionaire? Be careful, too much Price Policing will have people thinking it is all on paper

Pot kettle black much? All of your post are just saying property is over-priced and were having a crash and have been for years. As I have said to you before, you don't look at all the facts, just those that suit your desired result. It makes me laugh the biggest Troll on here calling me a Troll.

Again you ignore if interest rates rise and Brexit goes bad, do you really think given current policy interest rates are going to keep rising if we have an economic down turn due to Brexit? You cant have your cake and eat it.

Well obviously I dont have well over a million sat in a bank account earning nothing, only a fool would do that. But there we have the reason your Troll, you are bitter that made bad choices, you took a gamble house prices were going to crash years ago, you believed the HPC rubbish the were spouting 10-15 yrs ago, Ironically you now try to get people to make the same mistake you did.. Be like Crashy living in a rented bedsit with the only hope of buying is if there is a massive crash. As I have said in the past I have very little borrowing so house prices reducing 20-30% even more would not really bother me, I could see some good of it but I just can't see it happening... I could be wrong, one thing for sure if a crash does occur you will not have predicted it...

Come on give us dates when are we likely to see this crash?

Crashy_Time

Asking for dates is just silly, most observers with even a basic grasp of economics know that prices are too high, sales volumes are falling fast, and the market was only saved (if you could even frame that as a positive, many now don`t see it like that) by record low interest rates. Propping up debt holders has had some quite big political and social consequences, and I think the PTB are keen to get back to some sort of "normalisation", including interest rates, and that will be tricky for people with bubble sized mortgage debt

Crashy_Time

Wow. Sales are falling even more steeply than I thought!


https://www.gov.uk/government/publications/uk-house-price-index-england-january-2018/uk-house-price-index-england-january-2018#sales-volumes

buggy_boy

Crashy_Time wrote: »

Asking for dates is just silly, most observers with even a basic grasp of economics know that prices are too high, sales volumes are falling fast, and the market was only saved (if you could even frame that as a positive, many now don`t see it like that) by record low interest rates. Propping up debt holders has had some quite big political and social consequences, and I think the PTB are keen to get back to some sort of "normalisation", including interest rates, and that will be tricky for people with bubble sized mortgage debt

Really, because you have been saying its imminent for years, any idiot can tell you there will be a crash in the housing market, history has shown there is always a crash, there will be a stock market crash, there will be a crash on our currency.

Are prices too high? only in some parts, house prices have been skewed by the huge rise in London house prices, they are now starting to correct, that doesn't mean house prices in Hull or Birmingham are suddenly going to crash. Sales volumes have been low for the last decade yet prices have continued to rise, I would agree with you if the number of houses on the market had vastly increased but that is not the case.

What is "normalisation"? Interest rates go up and down, when interest rates were high 13%+ when my parents bought their house in the late 70's house prices were running away, you cant just look at the things that support your argument that we are about to have a crash, look at all precursors to a crash and it will have been a depression, high unemployment, where people are forced to sell, we dont have that, interest rates are likely to rise yes but not to such a level it will have a devastating effect on house prices.

House sales have been extremely low the last decade or more, if house prices dropped by 20% the only people that would go into negative equity would be those that bought in the last 10 yrs, and even they would not be in trouble if they could still afford the mortgage, its just they cant move.

Crashy_Time

buggy_boy wrote: »

Really, because you have been saying its imminent for years, any idiot can tell you there will be a crash in the housing market, history has shown there is always a crash, there will be a stock market crash, there will be a crash on our currency.

Are prices too high? only in some parts, house prices have been skewed by the huge rise in London house prices, they are now starting to correct, that doesn't mean house prices in Hull or Birmingham are suddenly going to crash. Sales volumes have been low for the last decade yet prices have continued to rise, I would agree with you if the number of houses on the market had vastly increased but that is not the case.

What is "normalisation"? Interest rates go up and down, when interest rates were high 13%+ when my parents bought their house in the late 70's house prices were running away, you cant just look at the things that support your argument that we are about to have a crash, look at all precursors to a crash and it will have been a depression, high unemployment, where people are forced to sell, we dont have that, interest rates are likely to rise yes but not to such a level it will have a devastating effect on house prices.

House sales have been extremely low the last decade or more, if house prices dropped by 20% the only people that would go into negative equity would be those that bought in the last 10 yrs, and even they would not be in trouble if they could still afford the mortgage, its just they cant move.

When was the last time there was any meaningful uptick in rates? There is a whole generation of people running around with big debt who have only known below 1% interest rates :rotfl: You might as well tell them about cave paintings as talk to them about 1970`s interest rates (and of course your parents were getting big pay rises all the time back then so there is no comparison with today at all)

capital0ne

A survey is only a guide, houses sell for whatever the buyer thinks it worth and willing to pay for it - it's that simple.

Crashy_Time

capital0ne wrote: »

A survey is only a guide, houses sell for whatever the buyer thinks it worth and willing to pay for it - it's that simple.

Don`t agree, buyers tend to pay whatever a survey tells them it is worth, or even more if they can scrape the money from savings/relatives. The banks decide how much property sells for, and it looks like the banks are tightening up their act at long last, due no doubt to the volatility in credit markets that is starting to appear.

AdrianC

Crashy_Time wrote: »

When was the last time there was any meaningful uptick in rates?

Compare with...

Not quite as simple as you make out, is it?

Crashy_Time

AdrianC wrote: »

Compare with...

Not quite as simple as you make out, is it?

What point are you trying to make with those charts?

AdrianC

Crashy_Time wrote: »

What point are you trying to make with those charts?

What do you think an appropriate base rate would be?