House price crash?

Rick62

Gorgeous_George wrote: »

Thanks for that. Interest Rates are higher than 2 years ago. With knowledge like that I can see why you are a mortgage adviser.

I advise my friends not to fix for short terms like 2, 3 and even 5 years. If I was a mortgage adviser I'd advise my customers to fix for a month and come back again next month. Lots of lovely commi$$ion.



GG

GG, thanks for the sarcasm! Thats why I'm recommending mostly 5 year Fixed or Lifetime Trackers right now, particularly for smaller mortgages. However a lot of people want the security of Fixed rates but don't want to be tied in for more than 2 or 3 years in case their circumstances change.

carpetbelly

dolce_vita wrote: »

According tho THIS report, things are going to get really bad.

ahhh this made me chuckle

Turnbull2000

eco-friendly wrote: »

Absolutely, the sooner the better, howzabout another million or more unemployed start the repos NOW, why wait! possibly a few hundred thousand broken homes, bring in the social workers I say! take the kiddies off them also, if their homeless they can't sleep in the park, there's not enough astute BTLers to house em all .

BRUTAL = cruel and vicious [adj]

Record economic deficits, pension provisions ruined, infrastructure costs mortgaged and hidden through PFI, obscene public sectors costs and pensions, weakening currency with resulting inflation, millions playing along with the housing scam and borrowing beyond their means.

The economy is not sustainable. You can only keep the party going so long.

If a bad downturn is what it take to put right 10 years of wrong and drive these morons out of office, then so be it. The country will be in far better shape in years to come and society will benefit.

hearts

"If a bad downturn is what it take to put right 10 years of wrong and drive these morons out of office, then so be it. The country will be in far better shape in years to come and society will benefit"

LOL..........I always find it amusing when someone comes along and tells me the next lot will be better. ;-) They will be exactly the same if they get in. A few years down the line and someone from the other side will be on here saying exactly the same as you. ;-)

m00m00

yes a house price crash is all labours fault, and the tories will make sure there's never another crash

now who was in power for the last crash ?

dannyboycey

m00m00 wrote: »

yes a house price crash is all labours fault, and the tories will make sure there's never another crash

now who was in power for the last crash ?

At the risk of starting a flame war - may I suggest that the person responsible for this one remains the same...... Thatcher.

She ripped the heart out of this country and we have never recovered.

Turnbull2000

yes a house price crash is all labours fault, and the tories will make sure there's never another crash

You think this is all about a house price crash? The US is experiencing one. Spain is Experiencing one. Ireland is experiencing one. Many other nations are due one. This is not isolated. But Labour did allow it to happen.

Unfortunately, the UK economy is in a much poorer state than all the above to help weather an economic storm. There's been some real shocking statistics revealed in the FT this week. For tis, Labour must shoulder the blame.

It's funny how people tend to bring the Tories into the equation when Labour are criticised. They seem to assume everybody who does so must be a Blue Boy.

I'm no fan of the Conservatives, but it's an undeniable fact that the economy was in much greater health in 1997. We had an economy that could be sustained, even following the housing bust of the early 90's. They're the lesser of two evils.

But this time round, we have a very sick economy after 10 years of supposed boom, stability and growth. Take this quote from the Guardian;

The much vaunted stability of the past decade and more has actually been destabilising since it has encouraged ever greater risk-taking and generated the conditions for a dangerous and unconstrained speculative bubble that inevitably ends in a painful bust. "It is only in retrospect that we can see the boom for what it was - mass delusion propagated in part by policy makers and those with vested interests who should have known better."

Badger_Lady

epz wrote: »

i remember when they used to joke about $100 a barrel because it was so unbeliveable

It was all a lie! :rotfl:

Romani_Ite_Domum

Badger_Lady wrote: »

It was all a lie! :rotfl:

A journalist by any chance?
600 bucks buys you a cheap headline. :rotfl:

Soprano

A crash is coming simply because the media is feeding on this hype pointing its bony fingers at America and saying "Looky here!!! It's coming over here too!!!!" Even though you couldn't link the US to the UK housing market, they will create one.

So every news report will have an 'expert' come on and say "credit crunch" as many times as possible in their 3 minute slot. Which the average person doesn't know what it means, but it sounds grim so they will start to worry.

The more long faced journo's pop up on TV saying the housing market is slowing down and heading for a crash, the more likely it will actually happen as people start to panic sell.

I'm not bias. I don't own my home. I have a fair bit of savings to put towards my first. But I'm not one of those silly enough to wish for a crash, somehow thinking I'll get a great bargain... Maybe I will, but there are 1,000's of others out there waiting to buy.