pslewis

So?

House prices to crash this autumn and winter?

To be 30% less after 30 months?

I reckon so .....

stevebt

iTrader: (8)

Wimpey were 9p at their lowest, I think they have a lot of debt but are still worth a punt for the long run.

Pete, Persimmon Homes and Barrats are selling more than double the amount of houses now as compared to when the rescession 1st kicked in. Even if the housing market dips again it will never be as bad as what it was 3 years ago!

john banks

First rule of multiple choice questions, a statement with "never" in it is nearly always false

Dingdongler

Yes, bit like those old physiology mcqs hey John?

njkmrs

I remember a few of the "Experts " on here telling us all we would be on Interest rates of 4-5% by now .!!!!!!!!!

And prices would have dropped 40% throughout the land by now as well .






The country has a housing shortage ,and its getting worse .Oil is running out but I dont see them dropping the price of it .!!!!! Hello .Hello !!!!!

hodgy0_2

some friends have just sold - on a road just south ot Westbourne Park Road

a very modest house really -- tall and thin etc

4 million was the final price -- plenty of money about, obviously not enough land to go round

Dingdongler

Thanks

fast bloke

Is that 30% less than when you started predicting the crash in 2002? You still haven't produced the balance of figures for the forced sales. I know what the figures are. I just want you to post them or avoid the question, either of which will show everyone how little you actually understand

hodgy0_2

no problem

fatscoobfella1

iTrader: (1)

He always goes quiet when he gets found out...Dont feel like your being left out..

pslewis

I predicted the global downturn ... way back, 4 years before it happened!! Little did I know that it would be just as bad as I feared

I'm so intuitive I scare myself sometimes ....

Dingdongler

You scare me as well, but for different reasons

fast bloke

Give yourself some credit - You predicted it 6 years before it started. (and 5 years and 4 years and 3 years etc etc.....) It was obvious to anyone that following Tony B.Liar's policies would eventually lead to the biggest bust in history. Do you really believe that it was Browns 90 days of leading the country that caused the bust?p.s. Still can't see your reply about the forced sales. Do you really not know?

pslewis

Tony Blair caused the Global Downturn? What utter claptrap!

Anywhere, back to House Prices .... first fall in 12 Months announced today.

Is this the start of the 30% fall which will take 30 months?

Could be......................

stevebt

iTrader: (8)

The only reason there is a fall is due to lack of buyers being able to get a mortgage, once the banks start lending again everything will be ok.

pslewis

Nothing to do with the fact that 1st time buyers need a £35,000 Deposit to buy?

Nothing to do with the fact that prices are stupidly high?

Nothing to do with the fact that there is a flood of houses for sale and no buyers?

Nothing to do with the fact that people fear for their jobs?

Nothing to do with the fact that most employees are not getting a pay rise this year?

Nothing to do with the fact that houses are forecast to fall dramatically in value over the next 2 years?

Nah, it's not as simple as just limited mortgage availability - it's much deeper than that.

njkmrs

Its just a lack of confidence in the market to be honest .Yes people are still unsure about taking on a mortgage ,just in case the interest rate goes up next year .

So come on Bo E ,put your nuts on the line and tell us we will have sub 1% interest rates for the next 5 years .!!!!!!


That will get things shifting !!!

GlesgaKiss

"Lack of confidence". Lol. Much like the lack of confidence when the NASDAQ bubble burst. This is just one that hasn't fully burst yet.

hodgy0_2

we are just seeing the early stages of increasing ghetto-isation within the UK

crap property will fall in value, creating ghettos a la the USA

decent property in decent areas will always hold its value

(until it really goes pop - but I think when that happens we will all have more to worry about than house prices)

Aaron1978

iTrader: (12)

Pete,
House prices are bound to fall as there are a lot more for sale now than last year, combination of Housebuilders starting to build again and people suddenly seeing houses selling and sticking theirs up. Bad news is better than good and the media love making facts sound bad. Answer me this, are completed sales dropping or increasing over last year?

Aaron

pslewis

Sales numbers don't matter as much as the prices being attained .... and they are about to fall 30%!

fast bloke

[quote=pslewis;9541396]Sales numbers don't matter as much as the prices being attained ....quote]

So give us the land registry prices (actual completion prices, not asking prices) and the LRP stripping out forced sales then. Hang on, I think I already asked you that..... you can google it if you are stuck

Tidgy

been reported on the news prices are dropping again, so for once pete might be right

ReallyReallyGoodMeat

Let's hope so!

Jimpreza

What are peoples predictions on the Bank of England interest rates for the coming years? My mortgage is up for renewal but I've gone onto the banks standard rate which is much lower then my fixed was.

Terminator X

iTrader: (7)

^^ I Understand that this lady has a good handle on it

http://4.bp.blogspot.com/_8Ro4IMkh2M...ic-Meg-001.jpg

TX.

GlesgaKiss

Noticed that the Fed are going to continue buying U.S. treasuries and mortgage backed securities to 'stimulate' the economy, keep their cost of borrowing and mortgage rates low, so that the whole house of cards doesn't fall down when people have to spend most of their income on their mortgage. So in other words they're going to continue to print more money.

Couldn't believe that when I saw it last night, but then I saw this: http://www.bloomberg.com/news/2010-0...oderating.html

Seems like we might have more of our own stimulus.

In other words every one of us is going to get further in debt so that we can prop up people/sectors that aren't doing anything/are a drain on the economy.

Tidgy

suposedly they are gonna stay the same, but thats just jurno gossip rather than definate answer. with the risk of double dip i can;t see them putting them up though.

Gear Head

iTrader: (2)

I reckon they won't move this year, but will be upto 1% by the end of next year.
We have just bough our first house and are waiting on the mortgage approval as we speak.
We will be there for the long term so i don't give two ***** what happens in the mean time. Sold our flat for what we paid for it in 2006, so not too bad thanks very much. Plus, it was ward-homes that we part exchanged our old property with.

pslewis

I see that House Sales in the USA have collapsed 27%!!

What happens there happens here a few months later ..... get ready for House Prices at 30% OFF where we are now - by September 2011.

Then, I believe, rampant inflation will take hold and Interest Rates will be hiked (maybe to 8%) ..... wages will increase as Employees demand Inflation busting pay deals ..... House Prices will then start rising and hit 2007 levels in 2013.

That's what my crystal ball says ....