House prices will plummet 10 percent

geoffky

Halifax figures out now - monthly prices down 1.1%.

Mortgage approvals down 32% in Nov 07 compared to Nov 06.

Crash ON.

dannyboycey

kittie wrote: »

Come early spring there will be a mad scramble for houses.

Yep. By the baliffs and repo people.

dannyboycey

SquatNow wrote: »

Well no matter how hard I work, I'll never enjoy the life my parents did. I fact, my life will get progressively worse until I die.

This made me think of the serenity prayer. Sure, the world in which you live is different to theirs, but to take the roll over and die attitude that you can't do anything about it is frankly pathetic. The fact is, there are more self-made millionaires in the UK than any time before in history. The difference between them and people like you is their mindset. They operate under the same social and economic conditions as you. There are people dying in hospices who would give anything for just one more day to grab by the balls and make the most of. Life is what you make of it.

John_Pierpoint

Come and join us on the "hot under the collar" reasoned argument thread.

http://forums.moneysavingexpert.com/showthread.html?p=7062113#post7062113

phlash

IveSeenTheLight wrote: »

What's it got to do with when you were born?
Sure its hard, sure its expensive, sure you need a big deposit.
Now go and speak to your parents and grand parents and ask them how easy was it to get a mortgage for their own home. Also ask them when they bought their first property.
You'll find that this generation is not much different from previous generations.

The problem is that it appears that it has been easy for the last 15 years to get a property because it was just after the last house price correction, mortgages were easy to come by in fact financial institutions were throwing it at you.
This is not the norm, yes people have been very furtunate in this period, but again I ask to you speak to older generations who probably found it just as hard as people today to get on the property ladder.

Did they moan about it, I doubt it, they would have just got on with it and did the best they could

I think this has been suitably countered by a number of posts.

The denial of *some* of the older generations that they have had it easier with getting a house, compared to this very moment in time is worrying. Imagine if our generation ignored/denied the cries of older generations in the future about their pension amount?

If you want us to look after you in the future, then look out for us now! At the moment it very much feels like we are being indebted for the green eyed pockets of the generations above. Housing should not be a pension, it should be a home, take out the speculative investment in housing.

Please, take a look at just a few of the barometers out there and you will see why its tougher. I'll start you off, average wage to average house price.

SquatNow

dannyboycey wrote: »

This made me think of the serenity prayer. Sure, the world in which you live is different to theirs, but to take the roll over and die attitude that you can't do anything about it is frankly pathetic.

I'm not rolling over and dieing I'm trying to do something about it... starting with raising awareness and promoting social squatting.

dannyboycey wrote: »

The fact is, there are more self-made millionaires in the UK than any time before in history.

How did they get rich hhhmmm?
A) Property Speculation - Buy Low, (with borrowed money,) Sell High
Property Speculation - Buy Low, (with borrowed money,) have large asset value. (Lose it all again in the crash)
C) High Finance - earn big commisions by lending other peoples money to Group B.

dannyboycey wrote: »

The difference between them and people like you is their mindset. They operate under the same social and economic conditions as you. There are people dying in hospices who would give anything for just one more day to grab by the balls and make the most of. Life is what you make of it.

Actually the difference is I chose not to get rich by causing other people misery by pushing up house prices. Apparently, you think morals are a character flaw.

Hereward

SquatNow wrote: »

I'm not rolling over and dieing I'm trying to do something about it... starting with raising awareness and promoting social squatting.

How did they get rich hhhmmm?
A) Property Speculation - Buy Low, (with borrowed money,) Sell High
Property Speculation - Buy Low, (with borrowed money,) have large asset value. (Lose it all again in the crash)
C) High Finance - earn big commisions by lending other peoples money to Group B.

Actually the difference is I chose not to get rich by causing other people misery by pushing up house prices. Apparently, you think morals are a character flaw.

Most self-made millionnaire haven't made their riches through property, most of them earned it by having an idea and sheer hard work.

Who are Group B in this thread anyway? I think you are confussing this thread with the one in the Arms.

SquatNow

Hereward wrote: »

Most self-made millionnaire haven't made their riches through property, most of them earned it by having an idea and sheer hard work.

Sorry, but this is Labour Spin! Part of their "You've never had it so good" campaign. If you check the figures the large number of millionaires are mostly paper millionaires... people whos houses are worth more than a million pounds due to HPI. There are a few inventive people but mostly we have people getting rich through the property market one way or another, and a load of foreigners who "officially" live here for tax purposes but spend all their time on their boat in the med.

Hereward wrote: »

Who are Group B in this thread anyway? I think you are confussing this thread with the one in the Arms.

Group B was line B:
Property Speculation - Buy Low, (with borrowed money,) have large asset value. (Lose it all again in the crash)

Running_Horse

!!!!!!? wrote: »

You clearly don't know what a recession is actually like then. Have you lived through one before, as an adult?

Ignorant comment. I grew up in an unemployed household in the 70s/80s. I've always worked, once for less than £1 an hour, and lived in London on £2 an hour. I had negative equity in the 90s. I was made redundant in 2005, and it was the best thing that ever happened to me, as I finally used the qualifications I have been earning to get a better job. If redundancy ever came again I would go out and get another job; anything to be working. A few people give up and go into decline when recession comes. Most get over it and move on.

SquatNow

Running_Horse wrote: »

If redundancy ever came again I would go out and get another job; anything to be working.

What if the only job you could get paid half what you are on now?

What if it didn't pay enough for you to cover your mortgage and bills?