Fresh 12:03 Thu Jul 30
House price crash
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Why does everyone want to see a house market crash specially existing home owners. I just don't get who wants a house price crash other than first time buyers. What possible benefits are there too the majority of people other than making wannabe landlords more attractive to buying btl properties causing a shortage of houses to move into which will push up prices anyway again,,,,
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Replies - In Chronological Order ( Show Newest Messages First)
simon.s
12:06 Thu Jul 30
Re: House price crash
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Who are these people? What homeowner would want to see a crash?
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,
12:40 Thu Jul 30
Re: House price crash
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What I want to see is every property purchased being lived in and not used as a hedge by foreign nationals who are just hiding or laundering their money.
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One Flew
12:43 Thu Jul 30
Re: House price crash
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Fresh, the kids might move out if they could afford to buy, and they and the grandchildren are getting a bit much now to be honest
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Vexed
12:49 Thu Jul 30
Re: House price crash
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Never gonna happen.
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Honest Hammer
12:51 Thu Jul 30
Re: House price crash
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I'd like them to nationally stay static so that when I decide to move away from the centre of Chelmsford to the outskirts, I can get a bigger house for not much more money.
I suspect this isn't going to happen and to afford a family home I'll end up with a huge mortgage.
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Annony
1:01 Thu Jul 30
Re: House price crash
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Maybe they still have BIG kids at home.
http://youtu.be/5nEl04eG8Eg
BOATS N HOES!
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Gavros
1:03 Thu Jul 30
Re: House price crash
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Capital economics, a wank firm that gets plenty of headlines due to their shit headline grabbing work, predicted a house price crash on 2002. When prices went down about 5% for six months in 2008 the BBC lorded them as economic seers, despite the fact that prices had gone up about 200% since then. Same old shit now. Supply doesn't meet demand, price rise to equilibrate the marketZ
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Mart O
1:11 Thu Jul 30
Re: House price crash
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Gavros 1:03 Thu Jul 30
Agreed. And as for Roger Bootle, don't get me started.
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Annony
1:27 Thu Jul 30
Re: House price crash
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0.5 interest rate is lowest for 300 yrs and has been underpinning the market for the last 6 years. If the BoE were to put the rate up things would change, but there is a method in their madness.
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jfk
1:44 Thu Jul 30
Re: House price crash
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I've done alright buying at the right time twenty years ago.doing places up and selling them on.
I've also had to go through bringing kids up and living in properties that wernt far off building sites. I can't see lthe London/nice subburbs going any other way than up over the next few years.
A mate of mine bought tenish properties in Hull two years ago for about 40 k a piece give them the once over let them out to students which have paid the mortgages and more and are now sell for between 90/100k.
I'm in Spain on holiday in a nice area there are lots of properties going cheap but in need of a once over.
If you buy right and are prepared to speculate there is no easier legitimate way of earning.
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Gavros
1:44 Thu Jul 30
Re: House price crash
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Mart O 1:11 Thu Jul 30
Yes, tosser. His lieutenants (Johnathon Loynes and Julian Jesssop) arent too much better either, though I do have a soft spot for Julian as he gave me my first professional job as an economist.
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Mart O
2:00 Thu Jul 30
Re: House price crash
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Gavros 1:44 Thu Jul 30
I saw the cunt give a presentation to a bunch of property investors just before the crash. 2 second mention of US house prices ("a slight concern"). Laughable reading his interviews after the crash about the failings of (other) economists in seeing it all coming.
Not to mention his manners. Even worse.
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Gavros
2:40 Thu Jul 30
Re: House price crash
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Well to some credit for him like for many European economists it wasn't a major concern because on price to income ratios things looked fairly tame. The big mistake was that few understood that there was virtually zero lending criteria after the Clinton 99 legislation and the bunkruptcy laws of course are totally different. It was European misunderstandings of the ridiculous way the US system worked that led to all the banks buying the CDOs off them in the first place. The local American lenders must have been laughing.
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Alfie
2:51 Thu Jul 30
Re: House price crash
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How do you crash a house?
Put large wheels on it like a tractors and then insert a giant steering column and drive the cunt with your head popping out the loft velux window?
Drive a semi detached off, mount pavements in it and then career down rural country lanes running over waddling ducks and flattening ancient hedgerows with little regard to byelaws.
Then spin the back end out and career the abode crashing the cunt full frontal on into a pensioners bungalow causing the death of all inside and causing the driver to be flung up into the loft and smashed to pulp like a collapsed balloon
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Westham67
3:31 Thu Jul 30
Re: House price crash
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I wish they would crash here
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Mirkwood
4:03 Thu Jul 30
Re: House price crash
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There is or was a website called HPC.
Load of nutters on there. Well worth a laugh.
If you post anything other than houses are going to drop 90% they ban you...Truth. Give it a go...lol
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Infidel
8:51 Thu Jul 30
Re: House price crash
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The fundamentals of the property market in the UK are terrifying - and will keep prices escalating higher.
We have 63 million people today in the UK. The official forecast is that this will rise to 83m by 2050.
That means we need to build the equivalent of two new cities the size of London somewhere in the UK.
That is what is forcing prices ever higher today.
On the other hand the UK is effectively bankrupt and once interest rates start to rise we will enter uncharted economic territory. The insolvency of the state is not out of the question.
It can always print money to pay the bills (as it has been doing over the last 5 years) but that is also a road to ruin. We cannot live beyond our means indefinitely.
So two opposing forces. Nobody but a fool would try to predict the outcome.
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REALGSA
10:33 Thu Jul 30
Re: House price crash
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Last time it crashed banks virtually stopped lending, so first time buyers with low budgets still wont be able to buy
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Darby_
10:50 Thu Jul 30
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House prices outside London are nothing special. It's the competition for property in London that's driving prices up, especially in areas close to the centre of London or with good transport links to the centre of London.
The price rises can't go on for ever, though, and will probably slow down and go into a long plateau for maybe 10-15 years while the rest of the UK catches up.
House prices generally don't crash unless there's a major financial meltdown, and they're generally the product of oil/commodity price shocks.
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penners28
10:56 Thu Jul 30
Re: House price crash
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due to the impending cross rail completion, house prices in reading have gone mental. ours has gone up £130k in 2 years, and my mate is in the process of buying a 2.5 bedroom ("3rd" downstairs so classed as 0.5) for £320k.
Reading is a hole
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