Housing gloom 'worst in 30 years'

Guy_Montag

neverdespairgirl wrote: »

Not many, but my parents' place in Kent was built in the 1320s, from memory.

Pah only 700 years old.

mr.broderick

carolt wrote: »

Sit and wait for the abusive posts to come - you dared to post the truth and so expect the bullies out in force soon.

Funny that cause i think you aren't far from being a bully, strange that considering you are a teacher and all that.

carolt

mr.broderick wrote: »

Funny that cause i think you aren't far from being a bully, strange that considering you are a teacher and all that.

I know you found it hard that I rejected your advances, but try not to take it personally.

neverdespairgirl

Guy_Montag wrote: »

Pah only 700 years old.

Good chance it'll stay up another 300, though (-:

Datasafe_2

adr0ck wrote: »

i didn't say everyones house in the uk is going to last 1000 yrs

i said the rate at which we build new homes will take us approx 1000 years to replace our housing stock

in japan it takes approx 30 years

Errr no. I'm still struggling with this one. By what you say someones house needs to last 1000 years, indeed 50% needs to last 500 years. Most of the housing in this country is 1920ish onwards. Thats still less than 100 years.

I still doubt that statement is true.

WTF?_2

carolt wrote: »

I know you found it hard that I rejected your advances, but try not to take it personally.

Little hint carolt - put him on the ignore list which is accessible from the User CP. You still have to read comments by him when others follow them up but they are automatically hidden as you browse the forums.

I did this as soon as his posts crossed the line into all out abuse territory and it's definitely the way to go.

RDB

The truth is the older the better in the UK. The materials were better back then.

Some buildings several hundred or more years old built of stone are very good quality and will last over 1000yrs.

In Japan they are built to flex with Earth quakes and are designed to be torn down and built again in about 25 yrs.

chump

MUDGUTS wrote: »

I think this will be a lot worse than most of us think it could be. Why?

People are generally stupid, short sighted and greedy, I have seen hundreds of folk watch the value of their house rise and immediately go and get a conservatory built on the back. Last time I looked into the value this added, it was 10%, that's 10% the cost of the conservatory, not the house, so at 5k they have just spent 4.5k which they will not get back.

The next thing they must do is borrow against the house to get a secondhand, clocked, ex-fleet, silver 3 Series BMW on the drive to 'keep up with the Joneses'. (Older types will get a Golf)

Then comes the laminate flooring, and huge TV.

If there is any money left they MUST have a jet wash for the new brick drive and PS2, etc., etc., plus a mini moto, and other 'boys toys': All on credit cards.

It's a long story but I would come into contact with these types a lot and out of curiosity I would ask them if they thought there would be a house price crash. The answer, from just about all was no.

The credit crunch & house price crash is more than a crunch IMO, it's the start of it and a lot of stupid, greedy people are going to lose their homes, some through not being able to re-mortgage and others through not being able to borrow more to live.

Borrowing money in the way we have been doing for the last few years is over.

Like I said people are generally stupid, short sighted and greedy.

...and yes the internet, without doubt has a large part to play, either way.

I agree with a lot that you have said here. I have thought this for a long time but people like us who live outside of the 'materialistic possessions bubble' are in the minority. As such I often keep my thoughts to myself as when it is raised in conversation with friends - i am always made to look like a fool.

I'm glad you had the guts to say it

Starz_Ceilings

!!!!!!? wrote: »

I doubt we'll see the same scale of 'destruction' where quite literally whole neighbourhoods become deserted and derelict and values there become effectively zero. The resulting carnage destroyed lenders' capital on a large scale and hence the credit crunch which has hit the world.

We'll also see some serious problems in UK banks as people default on loans (they are already on shaky ground) and a very nasty recession as retail spending dries up and the finance sector cuts jobs.

This is exactly what I was referring to. My friend in the USA lives in nice residential area of Florida where two thirds of the houses are now boarded up because people have defaulted on the mortgages.

Starz_Ceilings

luvpump wrote: »

We are not that far off in Macro Economic terms from the U.S situation, a lot of people are gonna suffer here over the next 12 months or so !! .. The "Bulls" can stay in a state of Denial as far as i am concerned ...they can fiddle while Rome Burns .. its going to happen whatever they say or how much they try & convince themselves or others .. !! the only question is how far the decline will go. & over what period ... .. I would suggest at least 20%..at least !!! :T

I sincerely hope you are wrong with the 20% prediction but something has to give and I'm afraid you might be right. I guess we will all start to find out in the near future.