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 - Newest Posts First ( Show In Chronological Order)
penners28
9:06 Fri Jul 31
Re: House price crash
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The next problem will be when rates rise. So many people have stretched themselves for a introductory rate, then when it ends find their payments shooting up.
I fixed in for 4% last yr, for 10 yrs. could have got cheaper but wanted to lock in for as long as possible. Seeing as my rate was 6.89% in 2008 i was happy with 4% tbh
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MrCrowmanSir
9:13 Thu Jul 30
Re: House price crash
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A tractor trailer crashed into a house last week, saw it on my local news.
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munkyfunk
9:10 Thu Jul 30
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Boy starts college nxt yr. Would be a shit to get to college for him. Once that's done I think il be off.
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sidneyshitcunt
8:42 Thu Jul 30
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Seems wise to me.
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munkyfunk
8:37 Thu Jul 30
Re: House price crash
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Considering Selling mine and moving 10miles down Rd.
Identical house and 100k cheaper and virtually no mortgage...
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LAD
7:25 Thu Jul 30
Re: House price crash
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House prices have become a farce, The market is a complete joke. No properties coming on, when they do multiple offers over asking price then comes down valuations and additional issues - something needs to change as this rise isn't sustainable in the long term.
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1964
5:03 Thu Jul 30
Re: House price crash
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Prices in Ilford are on the up:
http://www.dailymail.co.uk/news/article-3179700/Homeless-man-sets-shanty-town-shack-crate-planks-bricks-sheet-London.html#newcomment
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penners28
3:50 Thu Jul 30
Re: House price crash
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Claret Badger 2:16 Thu Jul 30
you are correct. it's not a hole. its a shithole.
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Brucies_Star_Prize
2:47 Thu Jul 30
Re: House price crash
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BRANDED 2:21 Thu Jul 30
Just about every government policy is aimed at doing the opposite, whether it be the LHA, Right-to-buy, help-to-buy, abolition of compulsory annuities etc.
The economic recovery is built on rises in house prices. With interest rates being at a record low for a such a long time, there is very little wiggle room either. Something will have to give eventually...
As per the video I posted, the end of long term debt cycles are characterized by austerity and QE, then either mass social unrest and/or debt relief/redistribution of wealth. I imagine that might come to a head around 2020.
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Steve P
2:25 Thu Jul 30
Re: House price crash
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I also can't understand why we would allow any tax breaks to foreign buyers. It's created a price bubble that is adversely affecting UK citizens.
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,
2:22 Thu Jul 30
Re: House price crash
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In most places property prices reflect the earning levels of the local populace. This cannot be said of inner London though because so many places are being purchased by foreigners.
Outside of the M25 there is more sanity about property prices but it often puzzles me where people get the money to afford these houses and bring up a family as well.
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BRANDED
2:21 Thu Jul 30
Re: House price crash
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If it's market forces you should be protecting your electorate as much as you can. You shouldn't be allowing them to be fucked by external market pressure for something as essential as a home.
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Claret Badger
2:16 Thu Jul 30
Re: House price crash
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penners - not sure Reading is a "hole"
compared to all the other satellite towns 30-40 mins away from London - it is positively idyllic.
as for Crossrail - yeh its ramped up prices all along the GWML - I live in Maidenhead - and you can't buy a terrace for less than 300 now
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ted fenton
2:15 Thu Jul 30
Re: House price crash
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Exactly Bruce,
We put our Bungalow on the market for silly money in Harold wood 1984 neighbours laughed at us but we got very close to our asking price !
As Bruce say's there is always someone out there prepared to pay the price.
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Darby_
2:12 Thu Jul 30
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Property price rises are just a fact of life if you live in a highly sought after location like London is these days.
20 years ago people were probably saying that it was unfair that young people were being driven out of Manhattan and forced to buy property in dumps like Brooklyn.
As I say, I think that London prices will flatten out in the next few years, and the rest of the UK property market will catch up in the next decade or so. So if I was a young person now I wouldn't bother buying property in London. I'd buy somewhere outside of London as an investment, and maybe rent a place in London to live in.
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Brucies_Star_Prize
1:57 Thu Jul 30
Re: House price crash
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In reality, they are just market forces at play. A house is worth what someone is prepared to pay for it.
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penners28
1:55 Thu Jul 30
Re: House price crash
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estate agents are to blame for house price rises. my mate wanted 250k for his so was told to put it on for 260k. he got £249k in the end.
so the next person things..."well, if andy's house is worth 260k then i want that for mine" cue estate agent then suggesting it goes on the market for 265-270k, and this goes on and on.
if people were more realitic about what their house was worth, instead of listening to the shiny suited fringe in the company mini told them, we wouldnt be in this situation.
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1964
1:54 Thu Jul 30
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"Homes are for living in, not making money out of."
I agree, but these thousands that disagree with that.
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GreenStreetPlayer
1:33 Thu Jul 30
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Who wants to pay more for their house. The word investment and property should not be used in the same sentence. Homes are for living in, not making money out of.
A generation has become greedy with the obsession of higher house prices and fucked it up for our youngsters.
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Brucies_Star_Prize
1:29 Thu Jul 30
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The economy for dummies (I found it useful):
https://www.youtube.com/watch?v=PHe0bXAIuk0
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Gavros
12:43 Thu Jul 30
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They'll never do that would damage reputation. London needs foreign money, for houses, retail, financial sector etc
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