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The Guardian: UK mortgage lender [Skipton] to offer first 100% loans since 2008 crisis
Comments
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We move in 2021 and due to the area saw a high of 35% increase in value. A current drop of 5% at the moment but all in all looking 👍Gavin83 said:
Who?Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
There is zero chance that house prices will drop by 50%. I'm so confident they won't that I'll buy you a house if they do.
In all honesty for industries like this I don't really believe in experts. They so often get financial predictions wrong because the truth of the matter is no one knows.Sarah1Mitty2 said:
Who are the real experts in your opinion?MattMattMattUK said:
Having a few thousand followers on Twitter does not make someone an expert.Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
However everything I've seen from the 'experts' (ie: people who work in the field, lenders, surveyors) seem to predict anywhere between a few % up to a max of 10% over the next year, having recovered within a few years after that. I expect that's a much more realistic outlook. Unfortunately for those that want a price drop this wouldn't even be enough to bring them down to pre-pandemic levels.
We bought in late 2021. Since that time our house has increased in value by around 12.5%, according to the bank anyway. Even if it dropped 10% we'd still be in profit. I'd take that.
This is nothing like 2007-20090 -
There are no experts just blaggers.
The "experts" opinion of "the new normal" is them blagging and trying to force the market for their own benefit not to allow people to be owner occupiers without selling their souls for >30 years.
Some people will have you believe their "property wealth" is due to hard work whereas it was mostly luck. Roll those years forward and with the skills and abilities they had, they would be far worse off than many young professionals are now
Enjoy the roller coaster.
1 -
^^ This. Sad but true.[Deleted User] said:
That only helps if I get an average 10% a year pay increase. I think more likely matey from the BoE was right and we are all just going to have to accept being poorer now.Yellowsub2000 said:
On his interviews and livestreamsMultiFuelBurner said:
Read his tweets and no mention of the following so where has he sai this?Yellowsub2000 said:No it’s going to be around 10% per year for the next 5 years
” The problem with that theory of 19% inflation for the next 5 years is this”the 50% real term drop is absolutely inevitable. Inflation is more than 10% so if average house prices remain at about the £300K level for the next five years that is a 50% crash in real terms.
he and other property bears have said at least 50% real term crash over the next five years,
what this will look like is inflation average 10% per year over the next five years and property being roughly the same price as now in five years
this would be a 50% real term crash
Nothing is foolproof to a talented fool.1 -
That`s right, and when people are poor housing gets much cheaper.[Deleted User] said:
That only helps if I get an average 10% a year pay increase. I think more likely matey from the BoE was right and we are all just going to have to accept being poorer now.Yellowsub2000 said:
On his interviews and livestreamsMultiFuelBurner said:
Read his tweets and no mention of the following so where has he sai this?Yellowsub2000 said:No it’s going to be around 10% per year for the next 5 years
” The problem with that theory of 19% inflation for the next 5 years is this”the 50% real term drop is absolutely inevitable. Inflation is more than 10% so if average house prices remain at about the £300K level for the next five years that is a 50% crash in real terms.
he and other property bears have said at least 50% real term crash over the next five years,
what this will look like is inflation average 10% per year over the next five years and property being roughly the same price as now in five years
this would be a 50% real term crash0 -
Those predictions don`t work within the parameters of the rate changes though, they don`t really come close to making sense within those parameters, you have to ask yourself how much a house/flat cost when rates were last at this level, then you need to ask what has changed? The "supply and demand" argument doesn`t work because the "demand" side is also working within the interest rate parameters, and that affects massively how much they can pay.Gavin83 said:
Who?Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
There is zero chance that house prices will drop by 50%. I'm so confident they won't that I'll buy you a house if they do.
In all honesty for industries like this I don't really believe in experts. They so often get financial predictions wrong because the truth of the matter is no one knows.Sarah1Mitty2 said:
Who are the real experts in your opinion?MattMattMattUK said:
Having a few thousand followers on Twitter does not make someone an expert.Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
However everything I've seen from the 'experts' (ie: people who work in the field, lenders, surveyors) seem to predict anywhere between a few % up to a max of 10% over the next year, having recovered within a few years after that. I expect that's a much more realistic outlook. Unfortunately for those that want a price drop this wouldn't even be enough to bring them down to pre-pandemic levels.
We bought in late 2021. Since that time our house has increased in value by around 12.5%, according to the bank anyway. Even if it dropped 10% we'd still be in profit. I'd take that.0 -
Sarah1Mitty2 said:
Those predictions don`t work within the parameters of the rate changes though, they don`t really come close to making sense within those parameters, you have to ask yourself how much a house/flat cost when rates were last at this level, then you need to ask what has changed? The "supply and demand" argument doesn`t work because the "demand" side is also working within the interest rate parameters, and that affects massively how much they can pay.Gavin83 said:
Who?Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
There is zero chance that house prices will drop by 50%. I'm so confident they won't that I'll buy you a house if they do.
In all honesty for industries like this I don't really believe in experts. They so often get financial predictions wrong because the truth of the matter is no one knows.Sarah1Mitty2 said:
Who are the real experts in your opinion?MattMattMattUK said:
Having a few thousand followers on Twitter does not make someone an expert.Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
However everything I've seen from the 'experts' (ie: people who work in the field, lenders, surveyors) seem to predict anywhere between a few % up to a max of 10% over the next year, having recovered within a few years after that. I expect that's a much more realistic outlook. Unfortunately for those that want a price drop this wouldn't even be enough to bring them down to pre-pandemic levels.
We bought in late 2021. Since that time our house has increased in value by around 12.5%, according to the bank anyway. Even if it dropped 10% we'd still be in profit. I'd take that.How do those predictions work within the parameters of the real world?Where are all these half price houses going to come from? Both building materials costs and labour rates have been increasing for years (and of course especially dramatically over the last two years) so how many new houses do you think will get built if the selling price is half what it is today?
Every generation blames the one before...
Mike + The Mechanics - The Living Years1 -
Yea Many LLs don’t go and fix things or sort problems out, they always delay and hope the problem will be forgotten about, or that the tenant will pay for it themselves
This is the sort of thing the ombudsman will be good for next year.
many LLs don’t want to deal with pest control because it’s so expensive and they try to get out of it or do a cheap job.
next year they will face £25K fines 👏1 -
The cost of building a cheap property is still considerably cheaper than the selling price. There is lots of room to fall before its not economic to build any new propertiesMobileSaver said:Sarah1Mitty2 said:
Those predictions don`t work within the parameters of the rate changes though, they don`t really come close to making sense within those parameters, you have to ask yourself how much a house/flat cost when rates were last at this level, then you need to ask what has changed? The "supply and demand" argument doesn`t work because the "demand" side is also working within the interest rate parameters, and that affects massively how much they can pay.Gavin83 said:
Who?Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
There is zero chance that house prices will drop by 50%. I'm so confident they won't that I'll buy you a house if they do.
In all honesty for industries like this I don't really believe in experts. They so often get financial predictions wrong because the truth of the matter is no one knows.Sarah1Mitty2 said:
Who are the real experts in your opinion?MattMattMattUK said:
Having a few thousand followers on Twitter does not make someone an expert.Yellowsub2000 said:
experts like moving home with Charlie say between 35% to 50% by the time the correction is overGavin83 said:
Except they're not struggling to find buyers. If you read the article it states properties are increasing in price and still selling quickly. The only people that seem to be struggling based on that article are young FTBs, especially single people.Sarah1Mitty2 said:
Yes, looks like prices need to fall quite a bit now to attract any buyers.BikingBud said:
Out of interest how much do you think house prices will drop as part of this correction?Yellowsub2000 said:It’s not going to be a housing apocalypse, it’s just going to be a correction.
Interest rates are going back to normal so property will go back to normal in relation to everything else.
property went up artificially due to artificially low interest rates but things are correcting now back to normal
However everything I've seen from the 'experts' (ie: people who work in the field, lenders, surveyors) seem to predict anywhere between a few % up to a max of 10% over the next year, having recovered within a few years after that. I expect that's a much more realistic outlook. Unfortunately for those that want a price drop this wouldn't even be enough to bring them down to pre-pandemic levels.
We bought in late 2021. Since that time our house has increased in value by around 12.5%, according to the bank anyway. Even if it dropped 10% we'd still be in profit. I'd take that.How do those predictions work within the parameters of the real world?Where are all these half price houses going to come from? Both building materials costs and labour rates have been increasing for years (and of course especially dramatically over the last two years) so how many new houses do you think will get built if the selling price is half what it is today?1 -
Can we have another record please?Yellowsub2000 said:Yea Many LLs don’t go and fix things or sort problems out, they always delay and hope the problem will be forgotten about, or that the tenant will pay for it themselves
This is the sort of thing the ombudsman will be good for next year.
many LLs don’t want to deal with pest control because it’s so expensive and they try to get out of it or do a cheap job.
next year they will face £25K fines 👏I'm unsure about my spine, I think it's holding me back.3 -
That’s right. It’s all about supply and demand. It doesn’t matter how many want to live in a property all that matter is how many can afford it.Sarah1Mitty2 said:
That`s right, and when people are poor housing gets much cheaper.[Deleted User] said:
That only helps if I get an average 10% a year pay increase. I think more likely matey from the BoE was right and we are all just going to have to accept being poorer now.Yellowsub2000 said:
On his interviews and livestreamsMultiFuelBurner said:
Read his tweets and no mention of the following so where has he sai this?Yellowsub2000 said:No it’s going to be around 10% per year for the next 5 years
” The problem with that theory of 19% inflation for the next 5 years is this”the 50% real term drop is absolutely inevitable. Inflation is more than 10% so if average house prices remain at about the £300K level for the next five years that is a 50% crash in real terms.
he and other property bears have said at least 50% real term crash over the next five years,
what this will look like is inflation average 10% per year over the next five years and property being roughly the same price as now in five years
this would be a 50% real term crash
There is a ceiling how high property can go0
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