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Housing Market Downturn - Really?!
Comments
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makes no difference.
Of course it does. If, say, the number of sellers falls by 20%, and the number of buyers who can get funding falls by 40%, you have a drop....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Rubbish! they have been saying prices are falling by 2.5% nationwide, which is incorrect.
Um. Not in the media I read. From the BBC,
"For the first three months of the year, the Halifax said prices fell by 1.1% to a UK-wide average of £191,556, according to its data.
Using this figure, the average house price fell by £4,912 in March."...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Lips, no downturn in Bournemouth/Dorest yet either. In fact a glut of overpriced new builds just come onto the market and appear to be selling!
You have no idea what you are talking about.
Four estate agents recently closed down
At least Four conveyancing departments of local solicitors have laid staff off.
Very large price reductions taking place.
Estate agent very quiet,trade down a massive 70% on this time last year."Do not let what you can't do interfere with what you can do."0 -
Where I live there are loads(555) properties listed on rightmove with more being added every day. There is 1 SSTC, yes 1.
People are still in the denial stage, with many on here being at that stage and still trying to talk the market up.
Nobody knows how long the credit crunch will last but the damage has been done and to say it will be over in a few months is just madness (again denial).
Many will NEED to sell and the only way for this to happen is to drop the price which is what we are seeing now in the price drops.
If your mortgage costs go up due to the credit crunch then over the long term you will be paying more for the property, people can't/wont pay this extra money so a drop needs to happen.0 -
Pants.The press do not state the blatantly obvious, they are saying that ALL house prices have fallen 2.5% this week, which is simply not true. If a house price crash happens the media are to blame, because people will be scared into selling. If people sit tight over the next few months, and let the credit crunch pass, everything will stay the same.
Pants, pants and pants.
The media aren't to blame, they're just reporting on events. . . many months after the triggers were lining up.
Where were you in the last house price crash?
Sitting tight over the next few months won't make one jot of difference.
History will show the credit crunch to be a defining event in social history. Things will go back to "the norm" from this peculiar "cheap credit frenzy" which is unprecedented.0 -
Totally agree. The media have been reporting about rises for years, now theres a downturn they report this too.PasturesNew wrote: »Pants.
Pants, pants and pants.
The media aren't to blame, they're just reporting on events. . . many months after the triggers were lining up.
Where were you in the last house price crash?
Sitting tight over the next few months won't make one jot of difference.
History will show the credit crunch to be a defining event in social history. Things will go back to "the norm" from this peculiar "cheap credit frenzy" which is unprecedented.
How irresponsible.:rotfl:0 -
The press do not state the blatantly obvious, they are saying that ALL house prices have fallen 2.5% this week, which is simply not true. If a house price crash happens the media are to blame, because people will be scared into selling. If people sit tight over the next few months, and let the credit crunch pass, everything will stay the same.
Dan - sorry but oh dear, oh dear. A few months?
hahahhahahahahahahahaha:rotfl: hahahahahahahahaha :rotfl: :rotfl: :rotfl:
These things take years and years and years to sort them selves out. Are you going to wake up one morning and find the world is suddenly alright again - global warming a thing of the past, credit crunch over, house prices stabilizing, wars ending, world peace? Im lost for words!0 -
Clearly not everyone reads newspapers or hears whats going on around them though. We went to visit some friends last weekend who unfortunately have to decided to seperate and sell their home. They had the house valued last August when things between them were rocky but have been trying to salvage things since then. When we spoke to her she said obviously now is really not a good time to have to sell. My thinking of, I am soooo glad you understand whats happening at the moment was wrong. She said it's the wrong time of the year which is why they are holding off until May! When asked how much they were putting it on at, I got the reply of 'well I know prices haven't gone UP much since last year so only £5k more than last summers valuation'.
DH gave me that look of shut up and leave them to it.0 -
... If people sit tight over the next few months, and let the credit crunch pass, everything will stay the same ...
A statement worthy of the likes of Adam Applegarth (who sold over £2.6m of shares at peak prices while urging employees to keep buying) and all the other robbing toerags that infest the City!
You really think - a few months - and all will be forgotten. :rotfl:0 -
I moved in December 2007. A house we were interested at the time was for sale at £194,950 but had sold (house sold for £193k)
The new occupants have built a double garage as planning had already been granted and have now put it on the market for £224,995. I personally think it's a little optimistic but I'll be keeping an eye on it.
http://www.rightmove.co.uk/viewdetails-20646968.rsp?pa_n=false&tr_t=buy0
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