Halifax -2.5 MoM

stonethrower

Isnt it funny how the banks produce these figures just a few days ahead of the BOE meeting !!! ... pure coincidence ofcourse !! .. but i guess it gaurantees a .25 cut now !!! ..

You read my taughts

Guy_Montag

stonethrower wrote: »

You read my taughts

If the MPC are strongly influenced by this they shouldn't be on the committee.

PasturesNew

I feel no joy like others do at prices slipping.

Some people have never known hard times. They grew up and had things bought for them, they ended up in a job with a partner and fell in love and got a place to live and to buy that place they could borrow up to 6x their joint salaries. So they felt wealthy. And the plastic in their wallets meant they could go out to some nice places and eat out, buy new clothes/shoes, take an annual holiday ...

Now the bedrock of what to them was "normal" is uncovering itself to be unsustainable, BIG time.

It will affect different people at different times. They will find they can't sit it out and cut back their spending because they will find out that "life is something that happens to you". Some will lose their jobs, want to change jobs, split up, find a partner, get pregnant, become sick ... and again. Over 10 years many people will fall into those categories unexpectedly. And how they think they would cope with it will turn out to be not possible.

Tell any homeowner "you might lose your job" and they'll say "I'll get another one", but you can't just get one.

Those chirpy "look how fantastic my life is, yours is poo you loser" types will be hit hard and will whine the loudest.

When house prices fall, you can't sell your house, you lose your job, your new boss hates you ... nobody can be blamed, or sued. This is called "life". Welcome.

merlinthehappypig

PasturesNew wrote: »

When house prices fall, you can't sell your house, you lose your job, your new boss hates you ... nobody can be blamed, or sued. This is called "life". Welcome.

True enough, but how long until the first court case trying to sue the bank/advisor/builder? These days it's always 'someone else's fault'.

How long before the Daily Express have a headline along the lines of 'No-one told me that house prices might go down' accompanied by a glum photograph of 'cheated houseowners'?

PasturesNew

merlinthehappypig wrote: »

True enough, but how long until the first court case trying to sue the bank/advisor/builder? These days it's always 'someone else's fault'.

Oh there'll be lots of whining. "in the old days" we just sucked it up and got on with it. The country's a different place now. Everybody's looking for somebody to blame.

merlinthehappypig wrote: »

How long before the Daily Express have a headline along the lines of 'No-one told me that house prices might go down' accompanied by a glum photograph of 'cheated houseowners'?

Tomorrow morning? Actually, most likely Thursday. I think Thursday's the day when those stories come out, I worked for a photographer and we'd get the bookings to go take the photos of those types.

Dan:_4

m00m00 wrote: »

well the halifax figures are based on halifax's own business. In general they were not big players in the 100%+ marketplace.

also deposits for FTBs will have been including a lot of vendor gifted deposits on newbuilds etc, skewing the figures.

They done all there 125% mortgages through BM Solutions.

Laughing_Man_2

itsnever2lateisit? wrote: »

Is it a crash? or just a long overdue correction? I say this because the 'value' of my property has ballooned to rediculous levels, I live in what is in effect a 30ft x 35ft garden shed, supposedly worth £450k!!

Is there some subtle difference between the two that I'm missing?

izzybusy23

neas wrote: »

South West

-2.6 % Monthly

-3.3 YoY

Wahoo :P

Whats Gloucester considered as, South West or Midlands?

izzybusy23

Those chirpy "look how fantastic my life is, yours is poo you loser" types will be hit hard and will whine the loudest.


I wonder how many of us are in the 'yours is poo, you loser' category?

I certainly am.. but then I put myself in that category because I DO feel inferior to friends etc because I haven't got a property.

Is it people making us feel like that, or are we doing it to ourselves?

Commonsensesearcher

izzybusy23 wrote: »

I wonder how many of us are in the 'yours is poo, you loser' category?

I certainly am.. but then I put myself in that category because I DO feel inferior to friends etc because I haven't got a property.

Is it people making us feel like that, or are we doing it to ourselves?

Why do you do that? What makes someone supposedly better just because they 'own' a property? Give yourself a break, its not the bee all and end all, and if I had to guess I'd say that any inferior feelings you may have will diminish rapidly over the coming months, possibly turning into waves of relief that you didn't stretch yourself to 'get on the ladder' and 'live the dream'...