Crash cancelled

poppy10_2

You're so naughty, mr b! :T

Anyway, here's the latest news - house prices down for the eighth month in a row

Gorgeous_George

How about next month's news?

house prices down for the ninth month in a row.


GG

wheretheresawill

Its only got to drop 1% a month to make it down 12% by next year etc, a crash is a crash whether its quick or slow. I find it amusing that some people try to say its not happening whilst they are secretly crapping themselves, I dont think its amusing for those who overstretched last year to buy. For those who gloated for years about house price rises I think the saying is what goes around comes around

why cant people just buy homes to live in rather than profit, I find moving stressful and when I do eventually buy it will be my home not a cash cow!

Annpan

Most people buy houses as homes you know. Then there are those who turned it into a business by buying up property to do up and sell on. But as Sarah Beeny says, your true profit is not in the inflation of the house and in the past few years you could buy a house, sit on it and do nowt to it and make silly money. End of all that for now though. But, there's nothing wrong with people buying houses, making them nicer and selling for a profit without silly inflation. This sort of thing helps all those numptys who can't knock a nail in! Wheretheresawill will (what a mouthful) want to see some increase in value when he/she buys no matter what he/she thinks now. Certain of that.

wheretheresawill

Actually i'd just like somewhere to live thats mine, i've moved that many times in rented accomodation, i'd like to be like my parents who have owned my childhood home for forty years, its our home and its got memories. Memories and security are more important than profit imho!

LillyJ

wheretheresawill wrote: »

Actually i'd just like somewhere to live thats mine, i've moved that many times in rented accomodation, i'd like to be like my parents who have owned my childhood home for forty years, its our home and its got memories. Memories and security are more important than profit imho!

Wow that's weird I could have written that myself. That sort of opinion doesn't go down well on here though quite often!

neilsc99

when me and my girlfriend brought our flat 18 months ago, we never thought about buy to make money, just a place to live and get on with our lives but now we are looking to move we hoped that it did make money so we could buy a bigger place together, it has made about 30K on the bases it sells for the asking price but with the FTB not being able to get on the market we just don't know whats going to happen

MrDT

neilsc99 wrote: »

but now we are looking to move we hoped that it did make money so we could buy a bigger place together

hoping it had increased in value and the bigger place you'd be moving to hadn't increased in value. right?

or were you hoping to spend more than you had to bridging the wider gap? :wall:

mystic_trev

The British pound’s substantial gains last week were primarily the result of the hawkish commentary contained in the minutes from the Bank of England’s policy meeting in May. However, the forex markets have a notoriously short-term memory, and traders could rapidly go from pondering the implications of an inflation-focused Monetary Policy Committee to weighing the risks associated with the sharp slowdown in the UK housing sector. In fact, BBA mortgage approvals on Tuesday and Nationwide house prices on Thursday are both expected to reflect waning demand for residential homes in the UK. Furthermore, GfK consumer confidence is anticipated to drop even lower to a nearly 26-year low of -25. While the Bank of England is unlikely to budge from their hawkish stance given rapid acceleration in inflation growth and persistant upside risks, the clear deterioration in economic activity in the UK may start to appear frighteningly similar to that of the US, and this sentiment could start to weigh on the British pound.

http://www.dailyfx.com/story/currency/gbp_fundamentals/British_Pound_looks_to_Important_1211822003183.html?engine=rss&keyword=article

PasturesNew

I want a house that's mine and safe. Where it's safe to be in it and safe to leave it.
Where I can be me, without interference.

Safe.

My little oasis of calm and sanity.

It's not about affording it, these days it's a question of being able to continue to afford to live in it. With rising prices of basics (council tax, heating, electricity, fuel to get access to services/goods) you have to think of the long-term livability of a place.