When will the market stabilise?

ianmr65

jamtart6 wrote: »

Ok this is a serious question, as I have ZERO knowledge of these things. I also know no one has a crystal ball, but does anyone with any knowledge have any idea what rough time scale we would be talking about for the house price market?

6 months? 2 years? 5 years? 10 years?

Previously I've thought about 1 year, then I read somewhere that last time this happened it was 8 years! :eek: which was a bit of a shock, I can hold off buying 12-18months but not 8 years!!

I'd seee what things look like in 2009, but expect not to buy till 2010 at the earliest if you want to buy at the bottom of the current crash... expect to pay roughly 25% less than you would now.

abaxas

Ermmm,

Since the 1970's the housing market has never been 'stable'. So I think the answer to your question is never.

It goes up,down,up,down,up,down etc etc.

caveatvenditor

id doubt youd get a mortgage offer unless you have more than 10% minimum.

The banking system is insolvent and they are never going back to lending money that support these prices. Government intervention is only going to prolong the problem.

Houses are going to lose value dependening on the type.

some will see 70% reductions....alot will see 50% many will only see about 35-40%

You should rent....its cheaper....more flexible.

Remember you dont own a house with a mortgage.....YOU OWN A DEBT!