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Base Rate Cut; Will house prices take off again?
Comments
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IMO we've been under the illusion that we've been getting richer, when in fact we are all getting into more debt.
Thats a very succinct summation of the last few years, I'd say.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
All is not well with the UK economy despite the government spin.
Have a look at http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/08/cnukecon108.xml
I don't believe it's all about the level of interest rates anymore. If you believe in markets, then you believe in market cycles - what goes up must come down.
IMO we've been under the illusion that we've been getting richer, when in fact we are all getting into more debt.
There are no such things as market cycles. Each market responds to supply and demand, nothing more nor less.
IMO, the idea of market cycles comes from the human need to see order in chaotic systems.
House prices will fall IMO but not because they follow some kind of quasi-lunar cycle but because they cost too much.0 -
ha ha here you go m8theres no easy thing about it (you can't do it) .....and because it can't be done...this is why prices cannot crash 50% (they can't even crash 30%) you just cannot build a 3 bedroom property for this money (its impossible)
i agree with your pope comment....make mine a pint of vodka
from yesterdays auction
Lot 90 Flat 4, Kendal Court, Eccles - Bought Sept 2003 for £104k
Lot 90 just sold for £60k - down £44k on its September 2003 price!It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Demand's falling as shown by the BOE mortgage applications so if there's a surplus of supply prices should fall. House prices have been falling for a few months now. I don't see where the credit support for continued price growth would come from. We're in a credit crunch! Northern Rock tried it and lent themselves into oblivion.0
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There are no such things as market cycles. Each market responds to supply and demand, nothing more nor less.
IMO, the idea of market cycles comes from the human need to see order in chaotic systems.
House prices will fall IMO but not because they follow some kind of quasi-lunar cycle but because they cost too much.
I said exactly the same thing last year, if they crash it'll be great, i for 1 will buy 2 or 3 houses, cause as certain as we are the sun will come up in the morning i am just as certain we will put them back where they are now and some.0 -
There are no such things as market cycles. Each market responds to supply and demand, nothing more nor less.
IMO, the idea of market cycles comes from the human need to see order in chaotic systems.
House prices will fall IMO but not because they follow some kind of quasi-lunar cycle but because they cost too much.
and it's the human response to supply and demand that makes the cycle...
:rolleyes:0 -
Or the human response to the bandwagon.0
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