Losing momentum

mr.broderick

Anybody else feel that the so called crash is losing a bit of momentum?
Got a feeling the peeps hanging on for the crash might be tempted to buy shortly while there is still a chance to get a good deal. Anybody else agree with these sentiments?

kunekune

Well, I might ... but it takes two to buy a house, so I doubt it'll happen!

mr.broderick

kunekune wrote: »

Well, I might ... but it takes two to buy a house, so I doubt it'll happen!

Of course and i do agree that sellers need to be a touch more realistic.

Dan:_4

mr.broderick wrote: »

Anybody else feel that the so called crash is losing a bit of momentum?
Got a feeling the peeps hanging on for the crash might be tempted to buy shortly while there is still a chance to get a good deal. Anybody else agree with these sentiments?

Well, this year may be the best chance to negotiate a knocked-down price.

motch

Nationwide year on year house prices out tommorrow could have some sway either way.

chappers

I've said it before and i'll say it again.
I don't believe this price correction will be as severe as the last, i think we are currently seeing the fastest rate of drop and will then see aperiod of inactivity followed by a steady recovery.
I believe all things being equal employment wise we will se a 5-6 year cycle to return prices to last summers highs.

Remember you heard it here first.

blimeyted

I agree that being realistic is the key.

It's the sellers who aren't out to make a killing (but to achieve a fair price) and the buyers who aren't expecting huge discounts (but a fair and sensible reduction) who will not only benefit the most from the current climate but will also help bring things to back to a more level and sustainable situation.

Buyers hoping for a crash could well miss out on reasonable deals right now. It wouldn't surprise me if the market takes a sharp upturn in June...

Alan_M_2

chappers wrote: »

I've said it before and i'll say it again.
I don't believe this price correction will be as severe as the last, i think we are currently seeing the fastest rate of drop and will then see aperiod of inactivity followed by a steady recovery.
I believe all things being equal employment wise we will se a 5-6 year cycle to return prices to last summers highs.

Remember you heard it here first.

I hope you're right, a huge crash and the resultant recession does no one any good, particularly the industry in which I operate my business. I'm feeling the pinch severely, today my biggest customer called to place a hold on a couple of orders as He'd been knocked for £400,000 this month by a well known construction firm unable to meet it's obligations.

Sadly I feel you're off the mark though, I wouldn't be surprised to see unprecedented falls and repossessions although this may take a little longer than many think to filter through to the general populous.

I don't think we're at the real crunch yet, sure the banks are there, it's going to take a while before it really starts to bite....I have a feeling we're sat here looking at the tip of the iceberg.....I sincerely hope I'm wrong....my head suggests I'm not.

abaxas

Has anyone ever thought that a correction/crash/dip/time of negative growth might be the lesser of two evils?

The party is over, so the sensible people go home to nurse their hangovers. Those that stay, snort their last line of coke and find themselves dead in Barrymore's swimming pool.

brit1234

If anything the last two months have massively accelerated the crash. In fact the high speed of collapse seems to be related to how massively overvalued the property market is.

The bigger they are the harder they fall.

Also Inside Track went bust today, together with more mortgage tightening record low mortgage approvals. There is only so much bear food I can take in a 24 hour period.:D

PasturesNew

I have been surprised at the speed and massive long-term implications of it to be honest.

I expected more of a long, slow and orderly crash with bits being chipped off here and there. What seems to have happened is more catastrophic events occurring weekly.