First time buyers + Crash. Is this our chance?

jago25_98

Thanks for the link. Found housepricecrash.co.uk graph to be useful because you can look at 2 ways:
1) correction to the red trend line
2) crash to a large dip in the graph

I shall stay in my van and be ready to pounce!

cubegame

jago25_98 wrote: »

Thanks for the link. Found housepricecrash.co.uk graph to be useful because you can look at 2 ways:
1) correction to the red trend line
2) crash to a large dip in the graph

I shall stay in my van and be ready to pounce!

But should you take the opinion of a internet site with a clear agenda on such an important decision? That site is littered with the broken dreams of people who were expecting a crash a few years ago to be their opportunity. People who have become increasingly twisted because it never happened. People who are quite prepared to wish a diasaster on the economy for their own selfish ends, without quite realising they would not be immune from said diasaster.

neas

Aye HPC has been waiting for it a while hence why i discuss HPC here rather than on their site. Its OTT biased.

TheChicken

Us FTB's though have new herdles with no 100% mortgages and very few 95% mortgages, How many people does that now push out of the Housing Market?

I am now personally going to HAVE TO wait at least 6 months to raise a larger deposit so the houses I have been looking at can say goodbye to ANY offers!

Ch!ck

skap7309

cubegame wrote: »

I speak as a first time buyer who is currently waiting to exchange. I've come to the opinion that a crash isn't going to happen.

Im sorry but you are in for a heck of a shock my friend.

ruggedtoast

cubegame wrote: »

I speak as a first time buyer who is currently waiting to exchange. I've come to the opinion that a crash isn't going to happen. We're seeing a slow down due to lack of availability of credit which is effecting people who are on the borderline of being able to afford to buy a house.

Those who sit and wait for a crash to occur before buying a house are fooling themselves IMHO. The effect a crash would have on the economy would, in all probability damage average joes capability to buy anyway!

I know plenty of people who are waiting to buy and are seeing a dipping market as being the trigger for them to make the move. In my area of the world (Sussex), decent properties are being snapped up in days of them going on the market. There certainly isn't the correct conditions for a crash as the supply of houses on agents books is pretty low.

If you'd have asked me a few months ago I would have advised buying if you could afford it. Now, considering how mortgages have dried up and decent deals are hard to find I would suggest waiting. Personally I suspect we will see the start of the summer bringing a mortgage price war (I have a source in a large building society who tells me they are sitting on a war chest from the ex-Northern Rock savers) and prices will either level or start gently rising again.

Hahahahahahahahaha!

EDIT: Just read the Sussex bit - I also hail from Sussex and I can assure you that people there are groaning under debt which has supported house price inflation totally dislocated from any sustainable underlying fundamentals. i.e. No one has any savings and the paltry wages companies in Sussex pay mean that hpi there is only going one way. And its not up.

Rick62

Cubegame (and the other millions still thinking like them), you are so wrong. Prices are now falling as surely as a ball thrown in the air comes down again.

The current 'credit crisis' is actually not a (temporary) 'credit crisis' as the banks and governments would have you believe. The annomaly was the reckless lending of the last few years.

Banks have remembered that they should lend (a) to people who will pay them back, (b) at a profit. This, combined with securitisation levels well below a fifth ahat they were, will guarantee that prices come down because people will not be able to borrow the same levels of funds even if they are stupid enough to want to.

HenryWeston

TheChicken wrote: »

Us FTB's though have new herdles with no 100% mortgages and very few 95% mortgages, How many people does that now push out of the Housing Market?

Ch!ck

It pushes out the people that shouldnt be buying anyway as they dont have a decent deposit.

Dan:_4

skap7309 wrote: »

Im sorry but you are in for a heck of a shock my friend.

Time will tell my friend

Turnbull2000

cubegame wrote: »

But should you take the opinion of a internet site with a clear agenda on such an important decision? That site is littered with the broken dreams of people who were expecting a crash a few years ago to be their opportunity. People who have become increasingly twisted because it never happened. People who are quite prepared to wish a diasaster on the economy for their own selfish ends, without quite realising they would not be immune from said diasaster.

I think you're confusing confusing opinions with statistics. That graph is a stastistic.

And wishing for price rises to the detriment of others isn't selfish?