Ooh buyers are coming back

backtomum

!!!!!!? wrote: »

Aah, but the US is different. Or the UK is different .... or something.

Anyway, the gist is that there's no way it could happen here otherwise a lot of people would be really in the doodoo and the government won't let it happen and anyway prices only ever go up.

So that should put your mind at rest

The Government won't let it happen:rolleyes: Took me a while to realise you were being ironic:rotfl:

backtomum

gingin wrote: »

Spot on!

From this mon to today husbs train fare has risen by 14% (he paid a whopping £106 per week prior to this), this is for one of the UK's busiest commuter routes so will affect a lot...

Gas bill up by 15%

Cost me £58 to fill up the car

£40 for 5 bags of groceries, no meat, no alcohol just good quality own branded fresh goods.

Looked at airfares to visit the overseas rellies £4200 for the cheapest flights for 4 to New Zealand!

It's all changed so much

Council tax to rise, other bills to rise, what else?

It's crazy, inflation MUST be rocketing. I will furious if the BOE lower interest rates.

Prices NEED to fall for this generation and the next generation I really worry for my kids if this continues because what will it be like in 20 years time?

Agree 100% the screws are being well and truly tightened. Finding it hard to cope in our house too - we both work, have 3 kids, no debt, everything is going up up up and away. If the interest rates come down this country is finished - hyperinflation here we come!!!!

BTman

HugoSP wrote: »

Estate agents in our area are telling us the same.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:CLASSIC!!!!

My butcher told me that meat is good for you, the baker told me bread is also very good for you. The local crack dealer told me to try some because I would have a good time on it....

nicola1982_2

Problem is whether these re-locating families are finding buyers for their houses. The problem usually starts at the bottom - ie flats and low-cost areas where single people bought who now have decided they need family homes. The apartments in the block I rented (before moving to a house) decreased by 13% in the past year and have shown no sign of going back up.

HeadInSand_2

Yeahhhhhh cut interest rates! Brilliant!
It'll be fun taking a wheelbarrow full of Fivers down to Tesco to buy a pint of milk and some bread.
CPI is already over 2% even with their obvious basket fiddling, I'm going to love reading the BOE press release explaining why it's so great to cut rates as the Pound in my pocket becomes toilet paper.

PS - RIP HPI, the house price run is over for this part of the cycle, accept it, it's slide time now - there will be a weak death rattle 'bounce' come April/May and then the tumbleweed will start wafting by.

fc123

HeadInSand wrote: »

Yeahhhhhh cut interest rates! Brilliant!
It'll be fun taking a wheelbarrow full of Fivers down to Tesco to buy a pint of milk and some bread.
CPI is already over 2% even with their obvious basket fiddling, I'm going to love reading the BOE press release explaining why it's so great to cut rates as the Pound in my pocket becomes toilet paper.

PS - RIP HPI, the house price run is over for this part of the cycle, accept it, it's slide time now - there will be a weak death rattle 'bounce' come April/May and then the tumbleweed will start wafting by.

The tumbleweeds are already in the land of retail...have been watching them blow past my store (and the others....all big chains too) since Sept.
Only snag is we are in clothing...soon you'll only need a bag of coppers to buy a whole new wardrobe............we supply data to the RPI...they fiddle it...every time we show a price rise , they quibble a spec on the item...so it is deleted from the data.

HammersFan

SquatNow wrote: »

Well your kids will be paying 40-60% income tax for a start. See this thread:
http://forums.moneysavingexpert.com/showthread.html?t=618029
Our parents have left us a few debts to pay... for a start theres a £1 TRILLION civil service pension debt. That's £1,000,000,000,000.00
Assuming 50% of the population is gainfully employed (fat chance) it works out at about £35,000 each. Currently 50% of the population is classed as being in employment, but that is expected to drop as more people retire, so expect to have to repay £50,000 each. Oh, and all the bills our parents left us? They're index linked to RPI, so they cant be inflated away... in fact your personal debt liability for your parents civil service pension bill will climb by £1400 in 2008. (With RPI at 4.1%)

So effectively if it was an interest only mortgage, it would cost you £119.58 a month. A repayment mortgage would cost £186.68. And those are assuming inflation doesn't rise at all. (Thanks to http://www.moneymadeclear.fsa.gov.uk/mortgagecalc)

Dont worry though, you and I will be in the camps well before then:
http://forums.moneysavingexpert.com/showthread.html?t=608253
As soon as you are 2.5 months behind on the mortgage you'll be out on your ear and moved to temporary accomodation. With 700,000 mortgages due to reset in the first 3 month of this year... there will be a lot of people needed temporary housing. Aircraft hangers are ideal.

The baby boomers have left their children and grandchildren a gargantuan debt to pay off. You and your children can expect lives of poverty and subservience to your parents.

Happy New Year.

Have your tablets run out?

shoppaholic_returns

After reading that little lot, im ready to slit my wrists!!

Sad thing is most of the readers of this website probably voted labour in to yet again bring the country to its knees!

PasturesNew

Another thing high house prices has given us is: a huge benefits bill.

All those private rented accommodations, landlords pocketing the cash of the taxpayer.

If house prices were half what they are, what might the situation be:
- lower housing benefits bill?
- more cash in everybody's pocket to spend on fun things instead of the roof over their head?
- more people on benefits able to consider returning to work because the overall benefits package with less paid out to housing means it's financially doable?
- less people in debt because they didn't have the escalating house price to borrow against?
- people able to save their money, save up for things without getting into debt

?

Nenen

With all due respect, (and I love hearing all the debate on both sides of the fence on this issue) there may be an alternative explanation to the assumptions made about what the sudden reappearance of buyers might mean and I'll give a counter anecdote to illustrate....

We've been house hunting for almost a year now. Until recently EAs couldn't be bothered to contact us (or even return our phone call sometimes) as they had plenty of buyers and no doubt lots of property speculators who would hand them a 'bung' for good leads. If an EA had to show us round a property then they would offer us one appointment time and if that wasn't convenient for us then 'tough luck' it was their time or no time!

Suddenly I've had phone calls from EAs asking me if we are still looking for a property and one even asking me if I'd like to make an appointment to go and view a property they were just taking onto their books... it isn't even on the website yet (I asked if I could see some photos) and she is going to measure up this SUNDAY!!!! In our area EAs haven't been willing to work on a Sunday for years... they haven't needed to. She was really doing a good sales pitch to try and get me to make an appointment.

I'm left wondering if the sudden 'rush' of buyers coming back is due to a sudden rush of drumming up business by EAs desparate not to lose their jobs! I would guess in the current climate (see previous links re EAs being made redundant) the only EAs who will keep their jobs are the ones working their ****s off to get buyers through the door!

If we are anything to go by (and I'm not sure how stereotypical as buyers we are), we are still looking at houses but with much less fervour and much greater discrimination than before. We would only consider something we absolutely loved and could easily afford or thought was a real bargain.

It may be that the OP's daughter's house is now being seen as a potential bargain as it has been on the market for some time and I wouldn't be surprised if viewers put in low offers. Of course that still means that her dd will be in a good position assuming she is 'trading up' as her next house is likely to be more of a bargain too!

Good luck to your dd Kittie... where is her house btw... it sounds lovely?