Sell Your House Now Or Face 80% Falls, what is YOUR prediction?

Oliveru

I strongly believe that between price falls and currency falls houses will drop by 80% on average over 10 years just like the Japanese housing crash of the 90s. I usually post in HPC etc but thought I'd sign up here because hopefully some people on a money savings forum may know what their talking about rather than label me as a troll.

My father and brother recently bought a house together and I warned them both about the falls but they said to me "Well prices will keep going up again when the economy bounces back soon"- Now these are both very intelligent people, so if they think that then there is a good chance even a lot of people on this forum also believe it.

I want to know what YOUR prediction is on house prices, and if you disagree with mine rather than just flame me give me real evidence to back up your opinion.

Everyone is welcome to comment, lets get some discussion going. Are there people here which used to be housing bulls but now wouldn't dare buy a house?

m00m00

a few properties may drop by this much ( insanely overpriced new builds in grotty areas), but the vast majority won't.

that's not to say that property won't drop, and drop by a possibly substantial amount.

no one has any way of knowing how much exactly, as anyone with the ability to call the bottom of the market, stands to make a great deal of money indeed.

LillyJ

Do you think that the AVERAGE house price will drop by 80% or that one or two will?

I can tell you now, if you think the average will fall by 80%, you keep on waiting! But good luck cos it ain't gonna happen.

If you think that one or two might, there is a house for sale near me that was burnt down and is now for sale by auction. That might have dropped by 80%

globalds

Oliveru wrote: »

I strongly believe that between price falls and currency falls houses will drop by 80% on average over 10 years just like the Japanese housing crash of the 90s.

So are you talking about a foreign investor buying into UK. Otherwise currency fluctuation would not be included ...As the transaction would be completed entirely in Sterling .
I can understand why you may think people would mistake you for a Troll .
Any situation that devalued property by 80% would be some kind of cataclysmic event and different rules would apply ...Something like a war or an earthquake .
So NO nowhere near 80% more like 15%........ As long as no foreign investors start diving in due to currency fluctuations ...Then less than 15%.

guyrulius

globalds wrote: »

Any situation that devalued property by 80% would be some kind of cataclysmic event and different rules would apply ...Something like a war or an earthquake .

Or a mortgage famine brought about by risk-averse shareholders demanding that banks return to traditional lending standards?

80% is a little extreme possibly but certainly not impossible. I'm expecting 35-50% falls for 2 and 3 bed semis.

scorpio_princess

So you think that a house that is currently valued at, say, 100k will drop to just 20k in the near future? REALLY? In that case, should I put an offer in to the flat i'm living in that the landlord is trying to sell for 110k - 30k should do it

Please! I think some people are getting a bit carried away with all this. Yes I think prices will go down, but I really don't think 80% is anywhere near a realistic figure. If only!

LillyJ

I just saw a pig flying in my back garden.

EdInvestor

We should perhaps bear in mind that despite all the breast- beating, drama, banking and recession fallout it has caused, the US property market has fallen by *only* 13% so far, and people are already talking about it bottoming out soon.

80% is just silly.Better go back to HPC. .

phil_b_2

PMSL!!!! why not just go the whole hog and predict 100% falls? Free houses for all?

LillyJ

There was actually a thread a while back where people said that houses would drop to £1 in some places. In which case I'll have 100. BTL here I come!

benb76

you're asking people to give evidence to back up their predictions yet fail to give any substantiation to your prediction of 80%!!!