House Prices Now At 2004 Levels

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Jun 12, 2010 | 01:40 PM

#1711

Leslie

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Quote:

Originally Posted by pslewis

Mortgage approvals for April at their lowest levels for 10 years ...........

This could be the start of the proper downturn ... the last blip down was timid - maybe we are in for the correction which is needed of 30% falls?

What do you think will happen to interest rates Pete?

Les

Jun 12, 2010 | 02:54 PM

#1712

FlightMan

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From: Runway two seven right.

Quote:

Originally Posted by Leslie

What do you think will happen to interest rates Pete?

Les

Well they can't go much lower!

Jul 1, 2010 | 08:40 AM

#1713

pslewis

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From: Old Codgers Home

Interesting article:-

http://www.thisismoney.co.uk/mortgag...age_id=57&ct=5

Jul 1, 2010 | 09:58 AM

#1714

fatscoobfella1

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House prices ain our village have definately come down. If a house came up for sale,it was usually gone within a few weeks.
Now they seem to be sticking.... One 2 bed terrace started at £170,000 is now £150,000.
4 bed semi was £500,000 now dropped to £450,000...

Jul 1, 2010 | 10:08 AM

#1715

hodgy0_2

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From: K

"Property is 27% overvalued - but I'm still buying"

from the author of the article just about sums it up

there will be a housing crash at some point -- but I think peoples inability to make thier mortgage payments will be the least of the problems

Last edited by hodgy0_2; Jul 1, 2010 at 10:09 AM.

Jul 1, 2010 | 11:52 AM

#1716

Leslie

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Quote:

Originally Posted by hodgy0_2

Wasn't it that kind of toxic debt which set off the recession anyway?

Les

Jul 1, 2010 | 12:20 PM

#1717

hodgy0_2

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From: K

Les

the Banks won the argument -- and their only trading commodity is cash/debt

Money talks bullsh1t walks

we will back here in 10-15 years

Jul 1, 2010 | 01:03 PM

#1718

Terminator X

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From: Berkshire

Eh?! Doubt they can fall much further

TX.

Quote:

Originally Posted by hodgy0_2

there will be a housing crash at some point ...

Jul 1, 2010 | 01:54 PM

#1719

GlesgaKiss

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From: Scotland

Quote:

Originally Posted by Leslie

What do you think will happen to interest rates Pete?

Les

Lol, they will probably think they need to go lower. Get more people spending by making borrowing attractive. That is, borrowing money that isn't there to be borrowed. Smart thinking, and it's the way we got into this mess in the first place. But it's bound to get us out. Surely?

Jul 1, 2010 | 02:03 PM

#1720

Leslie

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Quote:

Originally Posted by hodgy0_2

Les

the Banks won the argument -- and their only trading commodity is cash/debt

Money talks bullsh1t walks

we will back here in 10-15 years

Well as I understood it they were taking on the toxic debt knowingly and then selling it off as a safe deal to others who were caught out and lost their cash.

The bankers should go to gaol for that!

Les

Jul 1, 2010 | 02:22 PM

#1721

hodgy0_2

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From: K

Quote:

Originally Posted by Leslie

The bankers should go to gaol for that!

Les

maybe when they return from Cap D'Antibe we can ask them if they would fancy it

I am pretty sure they will say no -- and I don't see anyone making them

Jul 15, 2010 | 01:29 PM

#1722

pslewis

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From: Old Codgers Home

Well, it looks like another downturn is underway .....

Jul 15, 2010 | 01:38 PM

#1723

GlesgaKiss

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From: Scotland

Quote:

Originally Posted by pslewis

Well, it looks like another downturn is underway .....

Those damm Tories!

Jul 15, 2010 | 01:39 PM

#1724

pslewis

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From: Old Codgers Home

Well ........... I did warn you all !!!

Jul 15, 2010 | 07:12 PM

#1725

stevebt

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If there is a downturn it won't be anywhere near as bad as before. The drops will only be small as we are already thru the worst part. The new tax measures and new VAT rate will be what affects peoples pockets for buying a new property.

Jul 15, 2010 | 07:32 PM

#1726

njkmrs

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And dont forget ,after the abolition of the HIPS pack ,a lot more properties are speculatively coming on the market ,hence it will stop prices rising in the short term until things settle down .I think the worst is over .Interest rates will not be shooting up any time soon either .I am seeing increased numbers of Sold signs on all types of properties .

Get out there and buy that dream home folks .!!!!! Enjoy ..

Jul 15, 2010 | 08:58 PM

#1727

hutton_d

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Quote:

Originally Posted by stevebt

If there is a downturn it won't be anywhere near as bad as before. The drops will only be small as we are already thru the worst part. The new tax measures and new VAT rate will be what affects peoples pockets for buying a new property.

I wouldn't be so sure of that. Even with the *staggering public sector cuts* (BBC emphasis ....) the country will still see more government spending at the end of this parliament than at the start - it's just the rate of increase that's been slowed. So, basically, we're still in the ****.

And what's happening in the US? See ... http://housingstory.net/2010/07/08/p...break-expires/ ... for some of the story. And, as the most *prudent* Chancellor in British history said, "..it all started in America ..." ....

I see the sh{t hitting the fan fairly soon.

Dave

Jul 15, 2010 | 10:23 PM

#1728

pslewis

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From: Old Codgers Home

This second downturn is going to make the last small hiccup look like a tea party - do NOT buy yet kids!!

Jul 16, 2010 | 02:07 AM

#1729

jaytc2003

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From: Manchester ish

I bought in the last government, nice 4 bed house quite cheap for the size of it, unfortunately due to labour, the production site that I worked on closed down and production moved abroad, this just after my mrs getting pregnant.......
House still worth more than we paid but not much more and the fact I am not working....

Jul 16, 2010 | 09:05 AM

#1730

pslewis

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From: Old Codgers Home

What did Labour do to close your production site?

Jul 16, 2010 | 12:45 PM

#1731

cookstar

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From: Stroke it baby!

Not feeling any downturn here, just sold one of my places for 25% more than I paid for it 4 months ago.

Bit of a kick in the teeth with the CGT but hey that's life.

Jul 16, 2010 | 01:13 PM

#1732

pslewis

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From: Old Codgers Home

25% of £50k is still worth having, well done

Jul 16, 2010 | 01:34 PM

#1733

FlightMan

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From: Runway two seven right.

Quote:

Originally Posted by cookstar

Not feeling any downturn here, just sold one of my places for 25% more than I paid for it 4 months ago.

Bit of a kick in the teeth with the CGT but hey that's life.

Still mugs out there then. Well done.

Jul 16, 2010 | 09:27 PM

#1734

njkmrs

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Quote:

Originally Posted by FlightMan

Still mugs out there then. Well done.

Hey we should be applauding our Entrepreneurs, not having a dig at their successes .

:cu ckoo:

Jul 17, 2010 | 12:00 AM

#1735

Dingdongler

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From: In a house

Quote:

Originally Posted by njkmrs

Hey we should be applauding our Entrepreneurs, not having a dig at their successes .

:cu ckoo:

Why would you describe somebody who buys property as entrepreneurial?

Don't get me wrong, I'm not a 'player hater', but lets call a spade a spade. Its speculative, which is fine, but its not entrepreneurial

Jul 17, 2010 | 12:30 PM

#1736

njkmrs

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I would say anybody who spots a chance to make money and then has the ***** to take the chance is an Entrepreneur .You can call them a Speculator if you like ,it matters not really .

Jul 17, 2010 | 03:48 PM

#1737

Dingdongler

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From: In a house

Quote:

Originally Posted by njkmrs

I would say anybody who spots a chance to make money and then has the ***** to take the chance is an Entrepreneur .You can call them a Speculator if you like ,it matters not really .

Whats with the norty

symbols? Are you whacking off thinking about Cookstar?