House Price Crash Website

I can't take it seriously.

I'm sure they'd be more successful if they weren't so angry all the time. I'd far rather read and learn from meanmachine's considered posts on here than the posts on HPC which mainly seem to consist of swearing, patting each other on the back, accusing any article that doesn't agree with them of being spin and linking into threads on this site, purely to the mickey out of people asking for help. I don't get it; answer the question with a reasoned argument and do some good by persuading them not to BTL or whatever instead of goading people to come and posts insults.

I'm sure meanmachine has managed to put more people reading this board off buying. If that's his crusade, then good on him as he does a good job fanning the flames. This is a well balanced board with all sorts of opinions and I'll stick to this one thanks.

I'll look out for the link on HPC back to my comments on this thread shall I? :rolleyes:

It's hard to take them seriously when you do a bit of reading and find that most of them are very bitter and twisted towards current homeowners - sounding just like they're sorry for themselves that they missed out on buying when prices were lower.
It's one thing having constructive discussion about a predicted crash but quite another rubbing their hands in glee and taking great pleasure in wishing financial harm on others.

They make a few good points but don’t really help their case with all the bitterness.

Although I’m getting frustrated with the amount of people I know getting interest only mortgages on low caped rates that they can't even afford. They have the intention to 'sell in a few years and make a fortune.' Naive.

Although I’m getting frustrated with the amount of people I know getting interest only mortgages on low caped rates that they can't even afford. They have the intention to 'sell in a few years and make a fortune.' Naive.

Yet you don't believe we're in a housing bubble?

As I understand it British house prices today are higher relative to incomes than they've ever been in the last fifty years, and that at a time of historically low interest rates. I don't see how prices can _not_ crash when global interest rates are increasing and most new buyers are only buying because they expect prices to keep rising... a couple of rate rises will make mortgages unaffordable for many people, forcing them to sell, and a drop in prices will lead to a cascading crash as no-one wants to buy a depreciating asset.

rvts wrote:

Has anyone seen this site? and indeed this thread!

http://www.housepricecrash.co.uk/forum/index.php?showtopic=12762

Just wondered what peoples views are on this?

As I was explaining to my uncle last night - it's all about unemployment, inflation and interest rates. Unemployment is rising month on month (deteriorating the ability of people to buy houses), rises in interest rates are now pencilled in but how much they will rise depends on what happens to inflation. The US is having problems controlling inflation and interest rates there have gone from 1% - 5% in under 18 months. It is possible, in fact I'd say likely that interest rates will have to rise in the UK to combat rising inflation and in 2 years time if interest rates are even 5% when lots of people are coming off their very cheap 2-3 year fixed rate mortgages then that really will the crunch point for the UK housing market.

IMO interest rates in 2 years time are likely to be 6-7% but predicting inflation is not an exact science, even the Bank of England isn't very good at it!