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Debate House Prices
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How can house price's fall so much??
Comments
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This site is laughable! Money saving experts my !!!!! My friends were right when they said the internet was over run with numptys! Adios and keep dreaming you bunch of nomarks!
Same friends who told him 'house prices only ever go up' d'ya think ? :rolleyes:
AxDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
neverdespairgirl wrote: »or have 3 children in a 1 bed flat, or inherit a house
They are even more stupid than the people who think we will have over a 50% crash.0 -
Why would my rents be going up?magicdogsbrain wrote: »...and your rents going up 50% :eek:0 -
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If you owned a house worth £300k and all you could get for it was £150k you simply wouldn't sell. So how the heck are house prices going to drop that much? People simply wont sell. Even if prices drop by 25% I doubt many people would sell, they would stay put, surely??
There's been a lot mentioned about distressed sellers, but falling house prices can be beneficial to many.
Say, for example, my house was 'worth' 300k, but I can only now sell it for 150k. Great, because I can now buy that bigger house down the road for 200k, as opposed to the 400k it was worth previously. I now only have to borrow an extra 50k in stead of 100k - I can now afford that bigger house I wanted.
Most people have a lot of equity in their homes. The housing market is like a big conveyor belt and property downturns disadvantage those at the beginning and end of the belt (and distressed sellers).
Even if property prices drop by 20-30 percent, we still face a major problem with affordable property in this country as we quite simply are not building enough homes.0 -
pickles110564 wrote: »Snooze is deluded.:rolleyes:
'Hairy' is probably another one of your aliases. :rolleyes: "His" posts have got your name written all over them; you know - no understanding of basic economics etc. :rolleyes:
I see you've thanked all his posts already.... :rolleyes:
Rob0 -
Except the OP can't. He's at the "denial" stage. If you read his history he's somewhere in it over his head.RoyalSwank wrote: »Say, for example, my house was 'worth' 300k, but I can only now sell it for 150k. Great, because I can now buy that bigger house down the road for 200k, as opposed to the 400k it was worth previously. I now only have to borrow an extra 50k in stead of 100k - I can now afford that bigger house I wanted.
When his house drops to £150k he'll still owe the bank £100k more.
He'll end up in the newly formed Debtors Prison. Or the usual prison whwere you go for mortgage fraud possibly. Liar Loans are probably his route to riches.0 -
pickles110564 wrote: »Why would my rents be going up?
Having lots of people who want buy but wont because its a falling market - will stimulate rents to move higher.
So you, as jazzyjustlaw's landlord, can put the rent up by 50%.0 -
Just read through the thread. It seems to be a very one sided affair with all you lot ganging up on the newbie original poster.
My thoughts on this subject are that prices will drop over the next 2 year or so by about 20% (may vary quite widely by location). The market will start to grow again so that we are back to today’s prices (including inflation) in about 5 or 6 years.
I believe this because there is strong evidence that there is higher growth in the number of new households being created then in houses being built. This has been happening for a number of years and if projected to continue.
I agree that a proportion of households have to sell for certain reasons, and take a big hit by doing so. Others will not incur such a big loss because they have already built up a lot of equity. Many sellers will be trading up – so any loss in selling will be more than made up in buying.
I do believe that the vast majority of people will not sell in this volatile environment. Even the folks moving up will probably hang on.
Anyway, that’s my 2 cents – have a look at this regarding demand for houses outstripping supply: -
http://www.cabinetoffice.gov.uk/~/me...ell pdf.ashx
How much do you think the market will drop by and when (if at all) do you think it will recover?0 -
:eek: Gambling....:eek: It all starts with the first bet....;) if you win....then you want to go for a 2nd etc etc!!¬!!!
Nah, I have more sense that that (-:...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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