FTB's - don't buy now!

gazzak_2

The fact hat some people use the word "crash" is the problem. It's not a crash it's a correction. Of course prices are going to dip, it's been coming for years, but to call it a crash is similar to people who are against smacking children calling it "beating". You do your own cause no good.

A 90% reduction is what I'd call a crash, not a 10-20% correction.

Anyway, what is worse, seeing your house price fall £10K in a year or paying a landlord £15K for a years rent, (3 bed semi).

Tozer

dannyboycey wrote: »

My suggestion for Tozer would be to download 'Property bee'. How can people deny that which is right in front of their eyes!? Prices are not going to crash (future tense)... They are crashing now!

Absolutely unbelievable!!

Rubbish. They are correcting. I don't need to download anything thanks very much. We sold our place on Friday. It has been on the market for a while and there has been a huge amount of interest in the past 3-4 weeks - totally against the run of play.

There is a lack of confidence in the market. Genuine sellers are having to sell at much more realistic prices. But that isn't a crash.

dannyboycey

gazzak wrote: »

Anyway, what is worse, seeing your house price fall £10K in a year or paying a landlord £15K for a years rent, (3 bed semi).

A simplistic question, that clearly hasn't been thought through.

It depends on your level of equity, how much is outstanding on your mortgage, the interest rate on the repayment, the mortgage term, the amount of rent you pay, how much you have in savings or are able to save each month..... to name a few.

Fool.

dannyboycey

Tozer wrote: »

Rubbish.... I don't need to download anything thanks very much.

Very open minded.


I'm wasting my time here.

carolt

Al_Mac wrote: »

:rolleyes:They are journalists, their job is to sell papers, so sensationalism rather than pure fact is often the case. And as it has caught the world banks on the hop, can you truthfully say the journalist knows better

Not really relevant.


Again, I wouldn't trust a journalist, just a shame you do.

Shame you don't know the difference between a journalist and economic consultancy.

Shall I explain? The Guardian (a newspaper) employs journalists to write articles. In this one, they quote Capital Economics, an economic consultancy, on the future direction of house prices. The quote continues (in case, as I suspect, you were too lazy to actually bother to look at the article in question):

"Ed Stanford, property economist at Capital, said it was 'entirely plausible' that house prices would fall by between 20 per cent and 25 per cent in the next two years, particularly if the economy continued to be buffeted by the credit squeeze, financial markets' turbulence and sliding consumer confidence."

Now, unless you're suggesting that The Guardian journalist made up the quote and opinion - and this isn't the Sun we're talking here, or The News Of The World or something - then I think it's fairly clear that we're looking at is more than the entirely subjective view of some ignorant journo hack.

If you want to argue with the experts, fine.

But please produce another expert to back up your opinion, not just wishful thinking.

What?

There aren't ANY experts predicting prices will rise?

Case proved, I think....

carolt

gazzak wrote: »

The fact hat some people use the word "crash" is the problem. It's not a crash it's a correction. Of course prices are going to dip, it's been coming for years, but to call it a crash is similar to people who are against smacking children calling it "beating". You do your own cause no good.

A 90% reduction is what I'd call a crash, not a 10-20% correction.

You can call it what you damn well like. Call it a tickle or a fairy or a la-la.

Prices are falling, and the reduction in prices is speeding up. That's what I and millions of others desperate to buy a home at a reasonable multiple of normal earnings care about.

The important message?

Don't buy now.

Tozer

dannyboycey wrote: »

Very open minded.


I'm wasting my time here.

Extremely open-minded thanks. I can only go on REAL experiences from what I have seen in the market we have successfully sold in and the market we are now buying in.

If you want to believe the doom-mongerers then fine when on any analysis we are not in the same territory as the last property fall as interest rates, employment and so many other factors are so, so different.

We will have to agree to differ.

But it is quite wrong for people to say that things are "100% guaranteed."

snarffie

dannyboycey wrote: »

Good odds = those which provide a decent return.

Absolutely.

carolt

snarffie wrote: »

Clever the way you say, 'the vast majority'. You know full well, that there was a HUGE clamour of 'experts' saying that prices were due to collapse. Not the level of today, obviously.

Sorry, I remember 2002 quite well, thank you. Nothing 'clever' about it - it wasn't that long ago. Would you like to produce some evidence to back up your assertion, please?

Oh. You can't. What a surprise.

snarffie wrote: »

Letting the messenger live doesn't make the message any truer either.;)

People can read this message on the front of every national newspaper on a weekly basis. What, you going to try and shoot them all? You're going to have one hell of a job on your hands....

fischer79

Hi carolt

There might be no experts picking a house price rise but you do seem to have picked one with the highest fall predicted.

Most I've seen say 10% fall and while I agree the Guardian wouldn't make up a quote they certainly would look for an expert making the most sensational claim as it makes a better story.