We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House Prices will not correct
pickles110564
Posts: 2,374 Forumite
As has always been, they will be worth what the buyer will pay.
Therefore house prices will not crash.:rotfl:
Therefore house prices will not crash.:rotfl:
0
Comments
-
The buyer cannot pay as much as he used to.0
-
what a pointless thread.:A
:A"Everyone is a genius. But if you judge a fish on its ability to climb a tree, it will live its whole life believing that it is stupid" - Albert Einstein0 -
You think its starting to sink in that there is a "correction"? and that those who scream "they will rise again!!" are clambering to the hope that "if I was willing to pay this amount, someone else will be as well!"
.... yea, unfortunately, it may take about 10 years for someone else to be that person. so yes, they will get their money's worth...just not tomorrow, next year, or the year after.Debt : 10500 MNBA CC =£3000 EGG CC =£1500 Overdraft = £1500 Loan = £6000LBM2 = May 08 - The internet is not serious business
0 -
kristianwilliams wrote: »You think its starting to sink in that there is a "correction"? and that those who scream "they will rise again!!" are clambering to the hope that "if I was willing to pay this amount, someone else will be as well!"
.... yea, unfortunately, it may take about 10 years for someone else to be that person. so yes, they will get their money's worth...just not tomorrow, next year, or the year after.
There's an old-ish bloke living across the road from me who has had his house on the market since last summer. It hasn't sold yet and he won't shift on the price insisting that he wants the money to retire to a house out in the countryside. He now owns the house outright so no pressure to pay the mortgage or anything.
I tried telling him that the house in countryside is also getting cheaper so he should just reduce his price to sell, but no joy. He insists he won't take a penny less than his pride and joy is 'worth'. He gets the estimate of what the house is 'worth' from a neighbouring property that sold in spring 2007 setting a new ceiling price for the street pretty much at the peak of the bubble.
He seems to have no problems accepting that market values rose by a massive amount in the preceding two years for no apparent reason yet just can't take price drops on board.
I have a feeling he will be waiting another 7-8 years before it's likely that anyone pays what he is asking.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
kristianwilliams wrote: »You think its starting to sink in that there is a "correction"? and that those who scream "they will rise again!!" are clambering to the hope that "if I was willing to pay this amount, someone else will be as well!"
That's the Bigger Fool Theory
http://en.wikipedia.org/wiki/Bigger_fool_theoryRENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
some people need a few more brain cells oO0
-
There's an old-ish bloke living across the road from me who has had his house on the market since last summer. It hasn't sold yet and he won't shift on the price insisting that he wants the money to retire to a house out in the countryside. He now owns the house outright so no pressure to pay the mortgage or anything.
I tried telling him that the house in countryside is also getting cheaper so he should just reduce his price to sell, but no joy. He insists he won't take a penny less than his pride and joy is 'worth'. He gets the estimate of what the house is 'worth' from a neighbouring property that sold in spring 2007 setting a new ceiling price for the street pretty much at the peak of the bubble.
He seems to have no problems accepting that market values rose by a massive amount in the preceding two years for no apparent reason yet just can't take price drops on board.
I have a feeling he will be waiting another 7-8 years before it's likely that anyone pays what he is asking.
Anecdotal tosh..gosh !!!!!! you really are beginning to sound desperate you biff.0 -
mr.broderick wrote: »Anecdotal tosh..gosh !!!!!! you really are beginning to sound desperate you biff.
You're the biff remember... Sheesh talk about plagiarism.Keep the right company because life's a limited business.0 -
-
Houses are worth what somebody will offer and be able to pay - if they can find or borrow that much.pickles110564 wrote: »As has always been, they will be worth what the buyer will pay.
Therefore house prices will not crash.
Therefore house prices are crashing.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards