Prices will fall by 50% in four years

brit1234

pickles110564 wrote: »

Glad to see you are still wishing for misery on normal home owners, cant wait for the bad luck to hit you.
By the way a curse is on you until you stop wishing misery on others.;)

Sorry pickles I think something got lodged between your brain and typing hand.

You really don't understand do you. If prices fall so does the margin between different property types. Hence it is cheaper to climb the ladder for normal house owners. Surely that is helpful to them and not wishing them misery.

Misery is a complete generation of people who have been priced out of the housing market by, mass speculation, fraud and investors.

All I want is prices to come down to traditional levels (about 50% off) so families can climb on the ladder and progress up and better themselves.:beer:

Dan:_4

neverdespairgirl wrote: »

£25k is really quite a few quid.

Yes it sounds like a few quid, but the loan is only for 2 years and I can easily afford the repayments. I also intend to settle it within the 2 years as well.

m00m00

Dan: wrote: »

Yes it sounds like a few quid, but the loan is only for 2 years and I can easily afford the repayments. I also intend to settle it within the 2 years as well.

check the small print on early repayment carefully though, often 2 year loans have stings in the tail for early repayment,

Dan:_4

brit1234 wrote: »

Sorry pickles I think something got lodged between your brain and typing hand.

You really don't understand do you. If prices fall so does the margin between different property types. Hence it is cheaper to climb the ladder for normal house owners. Surely that is helpful to them and not wishing them misery.

Misery is a complete generation of people who have been priced out of the housing market by, mass speculation, fraud and investors.

All I want is prices to come down to traditional levels (about 50% off) so families can climb on the ladder and progress up and better themselves.:beer:

Well you are wishing misery Brit beacuse if house prices were to fall 50% many familys who brought in the last few years may end up in Negative Equity and so they will be trapped.

Surely price stagnation for the next 10 years would benefit everyone.

It seems to me that you WANT house prices to fall 50% so YOU can afford to buy a house. Owning a house is not a right and not everyone will be able to afford their own home - that has always been the case and always will be.

And even if prices were to fall 50% then everyone will be jumping in and buying BTL investments, pushing prices sky high again. I know I will.

phil_b_2

brit1234 wrote: »

By the end of this year prices will be down by 10% and by a further 10.5% in 2009, according to the index. Prices will keep dropping through 2010 and cut values by 23.5% when they hit rock bottom in 2011. House prices will then begin a slow climb back to current market values over a period of about six years.

Somebodys crystal ball has been working overtime... predicting 10 years into the future. Gimme a break, it's getting pretty tiresome.

Prices will drop, but as far as I'm concerned terrorists could have blown this planet to $h!t in ten years time, It strikes me as pointless looking that far.

As for the guy who keeps calling everyone 'sheeple', I see can see a few black pots and kettles kicking around.

Dan:_4

m00m00 wrote: »

check the small print on early repayment carefully though, often 2 year loans have stings in the tail for early repayment,

Yes they do, but if you time it right the interest rebate should still work out cheaper then letting the whole term run it's course.

EXPAT_2

Personally i'm 100% debt free, I did this with diligence & patience. The posters above who say £25k is not a lot obviously have no perception of money in real terms.

phil_b_2

brit1234 wrote:

All I want is prices to come down to traditional levels (about 50% off) so families can climb on the ladder and progress up and better themselves.

As far as I can tell, in most parts of the country families can climb on the ladder

Lets say we have 2 parents earning even a low-end wage of £15k each, 30k joint. they bring home nearly 2k after tax. They save up 20k for a deposit and buy a £140k house (lots of those knocking around from what I can see).
Mortgage is £750 a month on the 120k borrowed, what is so unaffordable there?

I just cant see it ever being 'easy' to buy a good house for yer below-average joe. that makes no sense to me. At a 50% average price cut it would be more than easy to buy a house.

In London where some parts are extortionately expensive for even a pokey 2 bed terrace, fair enough, its far from easy. But maybe the people living there should consider moving if it's so hard?

MABLE

Whatever happened to the soft landing then.

Dan:_4

EXPAT wrote: »

Personally i'm 100% debt free, I did this with diligence & patience. The posters above who say £25k is not a lot obviously have no perception of money in real terms.

As far as im concerned it only becomes a 'debt' when you can't afford to pay it back. Otherwise it is just borrowings.

P.S. well done with your diligence and patience. Personally, patience is one thing I ain't got.