New House Prices sub-board

propertyguy7

Just wrote a really detailed post..andit was good and this site just logged me out! and lost and hours worth of work and time!!!

propertyguy7

Ok, where to start? I know lets define the word CRASH! "to collapse or fail suddenly" So, can anyone really admit to not seeing a price slow down coming? OK that sorts out the sudden part. In the same vein can anyone argue with me that the following figures would be classed as a "collapse". Dec -0.8%, Jan +1%, -0.6% Feb, -1%, March and now the MASSIVE -2.5% drop since the turn of the year. So, is this a "collapse" no I don't think so. Are prices righting themselves, yes. Are owners taking drops on their asking prices, yes. Was the origional asking price a genuine true value, quite simply no. Anybody that has been trying to sell since last year will be taking bigger drops because the price last year is not the same as it is now, but does this really mean the prices are CRASHING and SLIDING, are we really in a CRISIS. NO NO NO.

Look around you, are there still people going to shops, bars, and restaurants? In my area thses places are packed regularly. Has anyone seen 08 cars on the road? I have, once agin my area. So, I am guessing that people still have money and we are not in recession. You can't really compare us to Zimbabwe can you?

All the stats that we read in the paper and on TV are produced by economists who love this kind of thing. Thats what flicks their switch. Comparing this years stats to 1992, but failing to add in inflation, average wage and so on from that year, so this really makes the figures meaningless. Before long they will be comparing our slow down in house prices to a by gone era just to make a point. Just because house prices have gone up so much that the drops looks bigger, this is simple logic. The average house price in 1912 dropped by 2.4% from 500 - 488 compared to a 2.5% drop now of 188,500 - 183,787, but the headline reads PRICES DROPPING AT SUCH A RATE NOT SEEN SINCE 1912. Oh please! if people out there really think that the press are helping us by giving us the information we really deserve then jog on because its all crap.

Prices will come down to a better level for all and I for one think it will be a great thing. Will it come down to the levels of of 30% drop, hell no! It just won't happen, it maybe wishfull thinking from the people that what to get on the property ladder and have been waiting in the wings for the last 10 years trying make up your minds. If your waiting for the perfect time then it will never happen for you. What if we see 5 main high street banks close down. The credit crunch causes hikes of interest rates to 12% and banks will only lend to a given few. House prices drop by 80%, is this a good time?? I can guarantee that the people that haven't taken a risk over the last 10 years won't be taking one then either.

Please don't believe everything you read in the press. Banks want the bank of England to reduce its interest rate because they want to try and recoup some losses. Hence the reason they haven't given any of the reductions to their customers over the last 2 months because they want to put pressure on the bank of England...and its working. Now picture with me if you will the owner of the TIMES. Do you think its purley run on cash? hopefully you think no!! What if the the owner of the TIMES have 5 million worth of lending on the business. Seeing interest rates rise probably don't make him to happy, so what can he do, he has a newpaper that can jump on the band wagon and talk us into a recession, which then adds more pressure on the bank of England. Thats his incentive to keep writing such drivel, as many of the papers. THEY ARE NOT HERE FOR OUR BENEFIT, WE ARE HERE FOR THEIRS!!!!

Who actually knows what is going to happen....the honest answer is that no-one knows.

Sorry for the long post!

carolt

Generali wrote: »

I doubt that "Letting Agent left me homeless - HELP!" or "Shared house: how does everyone else manage?" give a stuff about house prices right now.

Think you'd find you were wrong there, actually - just because people rent it doesn't mean they wouldn't rather buy.

Nomad25

carolt: you've missed Generali's point. He is quite rightly saying that people in rented accommodation etc. need a forum where their question on such related matters won't get swamped by house price posts which they don't give a stuff about right now, because they have more pressing issues!

Generali

carolt wrote: »

Think you'd find you were wrong there, actually - just because people rent it doesn't mean they wouldn't rather buy.

That's why I said, "right now" rather than "now". My point is that long repititious threads did nothing to help people that had genuine problems - in fact quite the reverse they were being crowded out.

clairesolo

I'm praying for a crash, it's the only way we can get a home and have a family, kids, pets etc without a landlord dictating our lives.

mr.broderick

neverdespairgirl wrote: »

Your nastiness is completely unjustified.

Go and do something useful like thank one of carolt's posts, actually just checked there are none left that you haven't thanked, as.s licker !!

Former_MSE_Andrea

Guys, I've removed posts that were personal about others and were unnecessary.

Feel free to continue the House Prices discussion without the personal remarks on the board we've set up for it.

In response to the criticism of the decision, to be honest it's rather surprising. There are people on other parts of the forum that would love their favourite subject to be given it's own board!

Andrea