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this is how bad it is out there....
geoffky
Posts: 6,835 Forumite
these people want to sell to go to live in australia and the poor people just are struggling,this brings it home how it affects real people.
http://britishexpats.com/forum/showthread.php?t=518829
http://britishexpats.com/forum/showthread.php?t=518829
It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
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Comments
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Interesting reading as they are motivated sellers.0
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yes this will be a big shock to a lot of people as even motivated sellers cannot sell a house...scaryIt is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
It's basically what we have been seeing.
Motivated sellers are having to take a big cut in their expectations, way beyond the actual overall drop in prices so far. Non-motivated sellers are holding firm and refusing to drop the price. The result is that the market is pretty much stagnant and it's anyone's guess which way things will go.0 -
I work in an estate agents and cover two branches. one branch didnt sell a single property in 5 months, estate agents everywhere are folding and closing their doors. it really is a lot worse than the press would have you believe.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
with the exception of the crazy stuff like subsidance/crack den's etc almost every house will sell, its just not at the prices they want.
i mean seriously if you have 1 viewing in 11 months what do you think is the problem, the wallpaper?0 -
Can report second local estate agents going bust within the last couple of months.
2 down..oooh, about another 10 to go.
Not that I want no estate agents, but within my village and 2 local ones, there are probably about 20 estate agents - and I for one would welcome some 'real' shops in their place. (Our village has a grand total of 6 shops, of which 2 are estate agents!)0 -
I for one would welcome some 'real' shops in their place. (Our village has a grand total of 6 shops, of which 2 are estate agents!)
Except nobody's renting commercial property either. There's a crash in that too.
Low confidence means people aren't taking on new businesses/premises.
So they might sit empty for months before becoming a poorly fitted charity shop.0 -
The prices will have to fall to meet the new credit environment we now have. There's no getting around it - the money has to come from somewhere! And at the moment it's not coming from the banks.
Whilst I'd love a full blown housing crash, the potential of what could happen in the next 2-5 years is actually a bit scary. Only then will we realise what a huge house price bubble we're currently in.0 -
The prices will have to fall to meet the new credit environment we now have. There's no getting around it - the money has to come from somewhere! And at the moment it's not coming from the banks.
Whilst I'd love a full blown housing crash, the potential of what could happen in the next 2-5 years is actually a bit scary. Only then will we realise what a huge house price bubble we're currently in.
The prevalent theme on a lot of these threads about HP falls is that it won't affect everyone elses incomes...it's just a positive thing that will happen in isolation to everything else..........but the fall-out and trickle down effect of the credit crunch etc will spread out.
It's already happening in some sectors.
Even the well respected hedge fund; Peleton (sic?) has hit a snag.
'Safe' public sector employees may feel the fall-out in years to come....I can't see how this Govt. is going to keep on top of all its spending commitments.
......and I am no economist either.
Can't have a 30% fall in house prices without other falls too.0 -
The prevalent theme on a lot of these threads about HP falls is that it won't affect everyone elses incomes...it's just a positive thing that will happen in isolation to everything else..........but the fall-out and trickle down effect of the credit crunch etc will spread out.
It's already happening in some sectors.
Even the well respected hedge fund; Peleton (sic?) has hit a snag.
'Safe' public sector employees may feel the fall-out in years to come....I can't see how this Govt. is going to keep on top of all its spending commitments.
......and I am no economist either.
Can't have a 30% fall in house prices without other falls too.
Peloton (this is what a peloton is) went bust because they used a lot of leverage (borrowing). The assets that they bought (mortgages basically) fell in value by a little bit and so they had to find more collateral. They couldn't.
Before you feel too sorry for their investors, the fund made 87% last year so they must have at least guessed that this was a pretty high risk strategy.
Oh and they complained to the bosses about my cycling buddy when we both worked for Big Bank and were pretty nasty to him a lot of the time so I for one am glad they went bust.
One of the owners was the bloke who worked at Goldman Sachs whose secretary stole 3 million quid from him. He noticed because his current account was 'a couple of million short'.0
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