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Debate House Prices
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advice please - my house has dropped £27k
Comments
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amcluesent wrote: »P45s will soon be raining down across England. Expect the worst and save!
I feel that many, many people just can't see what's in front of their eyes. It's obviously going to take some months for the penny to drop, it's comparable to turning the Titanic around (irony not intended).Fokking Fokk!0 -
well everyones house has devaluated and the prices will go up again later, even if your buying and selling you will get less and pay less. I suppose the biggest issue is your paying more for it than its worth but then thats because of circumstances and won't be a perminat thing0
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christ reading all your replies i may top myself ???? the kitchen is gonna cost £2k, I have 5 grand in shares due out in feb 2011 and my missus has the same as well ( 4k ).....so its not that bad, i have a fixed rate at 5.89 till 2018......im not planning on moving but things can change im just concerned that how much more my house wil fall by thats all0
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mvengemvenge wrote: »I feel that many, many people just can't see what's in front of their eyes. It's obviously going to take some months for the penny to drop, it's comparable to turning the Titanic around (irony not intended).
This is so true, 2 members of my family have their heads so firmly in the sand it's not funny, one has had 20 cars since he was 17 and has had car loans since that time, he is now 51:eek:, my sister has a 21 year old daughter who bought a terraced house in May 2006 for 92k, she split up from her boyfriend a year ago but is still on the mortgage, similar houses are up for sale within 200 yards for 69k and still aren't selling, yet my sister doesn't think her daughter is in negative equity.:rolleyes:
People will live and learn I guess.0 -
Simons-Photography wrote: »well everyones house has devaluated and the prices will go up again later, even if your buying and selling you will get less and pay less.
Don't be too sure of that. Prices will drop to realistic levels, so that people will be able to buy at 3 x salary maximum (as they used to until the recent madness). I don't see any reason why they should 'go up again later'. The HPI was unsustainable.
OP, if you are planning to stay in your house long term and keep your job, you should be OK. Leave any updating of kitchens and bathrooms until you can save for them – think about whether you actually 'need' to update them by spending a lot of money. Kitchens can be improved at little expense by changing cupboard doors, repainting, etc.0 -
christ reading all your replies i may top myself ???? the kitchen is gonna cost £2k, I have 5 grand in shares due out in feb 2011 and my missus has the same as well ( 4k ).....so its not that bad, i have a fixed rate at 5.89 till 2018......im not planning on moving but things can change im just concerned that how much more my house wil fall by thats all
According to "experts" expect it to fall by up to another 15%. Not a lot you can do about it I'm afraid so try not to let it worry you.0 -
christ reading all your replies i may top myself ???? the kitchen is gonna cost £2k, I have 5 grand in shares due out in feb 2011 and my missus has the same as well ( 4k ).....so its not that bad, i have a fixed rate at 5.89 till 2018......im not planning on moving but things can change im just concerned that how much more my house wil fall by thats all
If you are not planning to move, why are you concerned about how much the house will fall by?0 -
because we have shares in tesco every 3 yeasr they come out my missus has £2k in the bank and cashing in another share policy in march ( will get around £2,200 ) she will have £4k in credit in her bank in MArch...she we can afford it as I said we will be getting a nice bit of money in 2011, 2012 ans 2013 in shares when my shares mature...i dont think my house will fall below £100k no way I cant see it, i might be wrong0
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swipe = ???, so dont have my kitchen done keep the money in the bank ?? its been 5 years the kitchen is tatty and need for a re fit0
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