I've got that sinking feeling about this latest housing slump

PasturesNew

I think the analogy of the Titanic is good. There are many aspects of that which can be used to explain the housing price crash.

It's like people expect to wake up one morning and it's happened. It would never happen like that, it will simply gracefully slide, property by property, road by road, over a long period of time... many will never even notice. You'd only notice if you wanted to buy/sell or were close to somebody having issues because of the way things are.

Property Bee is my favourite hobby.

mystic_trev

meanmachine wrote: »

And Pickles is in the engine room desperately trying to keep the water out with a cracked champagne flute!!

.............and drinking it!

Gorgeous_George

Is that SquatNow I see perched on the iceberg?

Somebody else's iceberg at that.

GG

ianmr65

cells wrote: »

the goverment wount let house prices drop :beer:

so you all keep renting and hopeing :rotfl:

Yeah Gordons gonna wave a big magic wand... and everythings gonna be ok... get real, the goverment can't even stop an idiot like boris johnson from becoming mayor of london.

Even if they wanted to stop house prices crashing... which they don't.... how exectly do you think they could possibly acheive this unprecedented feat ie reversing a multi billion pound property market crash.....

:rolleyes:

FaTB

cells wrote: »

the goverment wount let house prices drop :beer:

so you all keep renting and hopeing :rotfl:

How naive can you get !!

I do hope you were joking.

BTW you can't spell either.

Gorgeous_George

ianmr65 wrote: »

... get real, the goverment can't even stop an idiot like boris johnson from becoming mayor of london ...

Fair point.

That must wipe some value off London's house prices. Who would want that buffoon as their Mayor?

GG

Gorgeous_George

FaTB wrote: »

How naive can you get !!

I do hope you were joking.

BTW you can't spell either.

Should that not be 'neither'?



GG

I could be wrong on this one

Generali

FaTB wrote: »

How naive can you get !!

I do hope you were joking.

BTW you can't spell either.

Don't you mean he can't spell hoping?

stonethrower

... get real, the goverment can't even stop an idiot like boris johnson from becoming mayor of london ..

Funny this idiot is fairly spot on about the stupid way property has gone

http://www.telegraph.co.uk/opinion/main.jhtml?xml=/opinion/2005/12/01/do0101.xml

merlinthehappypig

meanmachine wrote: »

And Pickles is in the engine room desperately trying to keep the water out with a cracked champagne flute!!

And we have bought tickets three times in the last 5 months only to find that they aren't valid and the ship has sailed.......

Following the latest collapsed attempted purchase, this time due to a moronic seller, we have reluctantly set out to view houses again today. I don't think that we have ever found anything so depressing.

There is some hope though.

We went to to see this today

http://www.rightmove.co.uk/viewdetails-18146660.rsp?pa_n=1&tr_t=buy

It keeps cropping up when we search, but we have avoided going because we don't like barn conversions, on the whole, and it wasn't big enough, at least on paper.

When we first saw it it was on at £499000, but the agent today told us that it had been on at £550000 at the back end of 2006. They even had an offer of £490000, but turned it down.

It's been on at around £399950 for a few months with no success and the e-mail today said it was going to auction in a couple of weeks unless sold first at a guide price of £300000. We were told that he would take £350000 now prior to the auction.

That's a reduction of around 36% from the original asking price and almost 29%, £140000, less than the price he turned down last year. Plus he has had all the upkeep for the last year and a half it has been empty.

It's really small for a 4 bed - he would have been better off keeping as 3 beds, but it's greed again. The finish was awful as well, despite all the expensive fixtures and fittings. The land was largely water meadow so pretty useless for horses.

All in all I doubt it will fetch even £350000 at auction. I wouldn't pay £300000.

It was badly overpriced at £550000, but some idiot still offered £490000 for it. What a lucky escape.

It just shows how quickly things have changed.

Still no luck for us. I'm tempted to buy a field and a £50000 motor home and keep the rest in the bank.