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Debate House Prices
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There will be NO CRASH - think about
skint2008
Posts: 13 Forumite
simple really
most sellers put their house up for sale to either (1) move up the ladder or (2) to down size
ask yourself, would you a non desperate seller drop your asking price 40% to achieve a sale, if you did would your seller do the same - is he that desperate to downsize he'll accept tens of thousands lower than he wants?
there will be a relatively small reduction (due to the CC) and things will then level out.
to sum up if you DONT NEED TO sell then prices wont drop, far more non desperate sellers than ones that have no choice - far, far, far more
most sellers put their house up for sale to either (1) move up the ladder or (2) to down size
ask yourself, would you a non desperate seller drop your asking price 40% to achieve a sale, if you did would your seller do the same - is he that desperate to downsize he'll accept tens of thousands lower than he wants?
there will be a relatively small reduction (due to the CC) and things will then level out.
to sum up if you DONT NEED TO sell then prices wont drop, far more non desperate sellers than ones that have no choice - far, far, far more
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Comments
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and points 1 and 2 applied in the last 'crash'
didn't stop it.It's a health benefit ...0 -
simple really
most sellers put their house up for sale to either (1) move up the ladder or (2) to down size
ask yourself, would you a non desperate seller drop your asking price 40% to achieve a sale, if you did would your seller do the same - is he that desperate to downsize he'll accept tens of thousands lower than he wants?
there will be a relatively small reduction (due to the CC) and things will then level out.
to sum up if you DONT NEED TO sell then prices wont drop, far more non desperate sellers than ones that have no choice - far, far, far more
Oh dear.
Looks like someone hasn't done their homework.
Rob0 -
why would Mr 3 bed semi at no 22 (not desperate to sell) with a £150K mortgage slash his asking price by £75K to "better" himself on a 4 bed ?
are we saying that mr 4 bed (not desperate for a sale either) thinks "hey i'll reduce my asking price by 50% too", or wait again will he think "nah, I'll wait for a more sensible price" ?0 -
He won't if he can't because he borrowed too much/didn't have a repayment vehicle/MEWed/hasn't been there long enough to knock that mortgage down.why would Mr 3 bed semi at no 22 (not desperate to sell) with a £150K mortgage slash his asking price by £75K to "better" himself on a 4 bed ?
On the other hand, if he's in a £150k house he bought 5 years ago for £60k and the 4-bed house is now £90k he'll sell his readily for £75k.
What makes his worth £150k now? Nothing. Just because he paid that for it. But that was then. This is now.
Depends if he's stupid or understands what's been going on, what is going on and how things have changed.are we saying that mr 4 bed (not desperate for a sale either) thinks "hey i'll reduce my asking price by 50% too", or wait again will he think "nah, I'll wait for a more sensible price" ?
If he wants to stick his head in the sand, while he continues to pay his current mortgage, that's his choice.
It's not for us to educate the foolish.0 -
as the average mortgage is £150K (well known fact) then why would mr average not desperate to sell reduce and lose £75K ?
this simple fact will ensure there is no crash, 10%- 15% from the peak max0 -
You're just missing the point really. That bloke probably won't sell. So won't move. But others can and will lower their prices to move. Others will be repossessed. Some will die. Split up. Change jobs. Some people have to whatever their perceived loss.0
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Skint2008....what an appropriate name!
Your 'advice' smells of utter nonsense. I looked to your past posts for some credibility; Only to find that you were interested in buying a new build for 20% off only last month.
So, if you, with a bullish sentiment expect 20% off on a house purchase. May I ask the question what everyone else in the Country who is quite obviously more bearish than you would expect off?
Hmmm.....thought so.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
as the average mortgage is £150K (well known fact) then why would mr average not desperate to sell reduce and lose £75K ?
this simple fact will ensure there is no crash, 10%- 15% from the peak max
To be pedantic I think its more like £174'950
:ABeing Thrifty Gifty again this year:A
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PN gave a list of sellers who would lower prices and from that list the dead people will be the most important.
I remember my grandparents house in 1995. We cleared it, put it up for sale and zilch. The 'panic' STS wasn't needing the money but having a house sitting empty far from where we all lived. My dad let the agent know that offers would be considered......and it sold but for not a lot.....he wouldn't have just sat it out until 1997.....house would have been in a neglected state by then.
Those sales will push down land registry figures....and so prices for others in the immediate area.
People die all the time, can't stop it and they won't wait to die for a few years for when the housing market ''gets back to norma''l either.0 -
skint sounds like a strawman to me.
not another, godammit.miladdo0
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