House Price Crash!

deemy2004

The housing market is marking time... waiting for good or bad news...

Good news = strong economic growth.
Bad news = stagflation with rising interest rates.

At the moment we are trending towards more and more bad news.

meanmachine_2

lapat wrote:

i made £57k in two years 3 months not a bad bit of profit

In the economy there is a finite amount of money.

For you to have "made" 57K, someone else will have to pick up that tab.

Unfortunately, that's the next generation, who are already saddled with debt.

Enjoy your free money chum, cos there's not going to be anyone around to support you when you're retired.

Ember999

meanmachine wrote:

In the economy there is a finite amount of money.

For you to have "made" 57K, someone else will have to pick up that tab.

Unfortunately, that's the next generation, who are already saddled with debt.

Enjoy your free money chum, cos there's not going to be anyone around to support you when you're retired.

57K is a sick amount of money to make in only 2 years, it's no wonder houses cost more than people can afford to pay anymore!

niadoz

Does anyone know when the MPC minutes comes out for the September meeting? I'm just about to take out a fixed rate mortgage but wondering whether to wait until the next MPC meeting or not. Any advise would be appriciated. Thanks x

waterbaby

They're already published for September

http://www.bankofengland.co.uk/publications/minutes/mpc/pdf/2005/mpc0509.pdf

MattLG

meanmachine wrote:

In the economy there is a finite amount of money.

You REALLY need an economics lesson if you believe that :-p

MattLG

Pal

meanmachine wrote:

In the economy there is a finite amount of money.

For you to have "made" 57K, someone else will have to pick up that tab.

Unfortunately, that's the next generation, who are already saddled with debt.

Enjoy your free money chum, cos there's not going to be anyone around to support you when you're retired.

Remember that although he made £57k profit, he simply ploughed it back into another property i.e. he gave it away to someone else. He now has no idea how much "profit" or "loss" he has made, and will not know until he either sells to rent or dies and his house is sold.

You can't declare a profit until you have finished playing the game, to badly mix metaphores.

Matthew2005

I bought a house for £25k and its now worth £125k not bad in 18 months, I spent 100k on renovating it though.

meanmachine_2

Matthew2005 wrote:

I bought a house for £25k and its now worth £125k not bad in 18 months, I spent 100k on renovating it though.

Well done.

But surely it's now worth £325K. At least, on these telly shows it would be...before the credits roll and you're left none the wiser.

meanmachine_2

Pal wrote:

Remember that although he made £57k profit, he simply ploughed it back into another property i.e. he gave it away to someone else. He now has no idea how much "profit" or "loss" he has made, and will not know until he either sells to rent or dies and his house is sold.

How depressing.

Except he'd have to pay X amount more now had he not been on the property ladder, I guess.