House Prices Now At 2004 Levels
24 August 2010, 11:19 PM
#1802
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 ....
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 ....
I think 30% from peak is feasible,but i think the timeline will be longer than a few years..
Thats what gypsy petrulengro told me anyway
25 August 2010, 05:44 PM
#1805
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 ....
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 ....
Never gonna happen, the only way properties will drop again is if people are forced to sell up, builders will just build less again. Thinking the property market should drop due to people struggling to get onto the property market doesn't mean it will happen.
25 August 2010, 07:51 PM
#1806
Its actually in the paper again today that a Major house builder has sold 95% of their stock for this year !!!
Spoke to an estate agent on Monday who said they were selling about 40 properties per month at the moment and he was quite optimistic about future sales .
I had my place valued and it was up over 25% on what we paid for it 5 years ago .(being honest i have spent maybe 25K on it ).And no smartar55es its not now worth 100K .!!!
Yes there are scare stories about interest rate rises ,but the only way they can go is up ,its just a case of how much and when .It was said upto 8% by 2012 ,but i see this as scaremongering and there is no way the BoE would do this as it would send us into freefall .
So keep on investing in property folks and enjoy it while it keeps rising !!!!
Spoke to an estate agent on Monday who said they were selling about 40 properties per month at the moment and he was quite optimistic about future sales .
I had my place valued and it was up over 25% on what we paid for it 5 years ago .(being honest i have spent maybe 25K on it ).And no smartar55es its not now worth 100K .!!!
Yes there are scare stories about interest rate rises ,but the only way they can go is up ,its just a case of how much and when .It was said upto 8% by 2012 ,but i see this as scaremongering and there is no way the BoE would do this as it would send us into freefall .
So keep on investing in property folks and enjoy it while it keeps rising !!!!
25 August 2010, 08:25 PM
#1807
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The markets decide interest rates not the BoE.
A run on the £ would force the BoE to raise rates to defend Stirling. Suddenly house prices become a very secondary concern.
A run on the £ would force the BoE to raise rates to defend Stirling. Suddenly house prices become a very secondary concern.
25 August 2010, 09:55 PM
#1808
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What's more worrying is that we have an economy which is dependant on house prices and ultra low interest rates. It's a farcical state of affairs, and as Flightman says, it will be the market that derails it. The BoE can do diddly squat except print money and debase its value in the process to pay off debts.
26 August 2010, 08:41 AM
#1809
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We have this obssesion with having to own your own property in this country - it doesnt appear to matter how much its worth or how much you pay for it , if youve a stake that is supposed to make you feel well off
I reckon the people are in fact so daft you could stick interest rates to 10 % and still theyd come
I reckon the people are in fact so daft you could stick interest rates to 10 % and still theyd come
26 August 2010, 01:39 PM
#1811
Scooby Regular
Just spoken to an Estate Agent today.
He says, at least where we live, that the market is dire - it has got steadily worse since June ..... if it continues as it is now he sees the market being on its knees by Xmas.
But, still, the properties come to the market, a market with no buyers.
He says there is starting to be a panic amongst sellers who thought the worst was over that they have missed the boat - and this panic gets more sellers wanting to sell quick as everyone can see where it's going.
The Buy-To-Let Landlords are trying to get out now.
The writing is on the wall ..... the Estate Agent didn't say this (but I am) - 30% falls by next summer.
He says, at least where we live, that the market is dire - it has got steadily worse since June ..... if it continues as it is now he sees the market being on its knees by Xmas.
But, still, the properties come to the market, a market with no buyers.
He says there is starting to be a panic amongst sellers who thought the worst was over that they have missed the boat - and this panic gets more sellers wanting to sell quick as everyone can see where it's going.
The Buy-To-Let Landlords are trying to get out now.
The writing is on the wall ..... the Estate Agent didn't say this (but I am) - 30% falls by next summer.
Last edited by pslewis; 26 August 2010 at 01:46 PM. Reason: Spilling
27 August 2010, 07:16 AM
#1812
[The Buy-To-Let Landlords are trying to get out now.
On the contrary .Yields are up .Many a Landlord are now looking to buy and increase their Portfolios ,ready for the next surge .!!!!
On the contrary .Yields are up .Many a Landlord are now looking to buy and increase their Portfolios ,ready for the next surge .!!!!
27 August 2010, 07:43 AM
#1813
Hmm...
Guess it depends who you talk too....
My friend has had 4 properties on buy to let mortgages. All terraced and getting £400-£450 PCM..
He has built them up since about 7yrs ago but is now trying to sell them all. His main problem is getting any steady long term tennents in them.. It seems to be a 6 month rented,then 6 months empty scenario..
Previously he has done well out of them,but the downturn seemed to be around 3 yrs ago,and he has had enough.
Guess it depends who you talk too....
My friend has had 4 properties on buy to let mortgages. All terraced and getting £400-£450 PCM..
He has built them up since about 7yrs ago but is now trying to sell them all. His main problem is getting any steady long term tennents in them.. It seems to be a 6 month rented,then 6 months empty scenario..
Previously he has done well out of them,but the downturn seemed to be around 3 yrs ago,and he has had enough.
27 August 2010, 09:11 AM
#1815
Suppose it depends on the area that you are in to a degree too..
If your area has a high % of "renters" than you will have more luck..
In this area,houses are predominantly owned so i guess there is less desire for people to rent..
If your area has a high % of "renters" than you will have more luck..
In this area,houses are predominantly owned so i guess there is less desire for people to rent..
27 August 2010, 09:14 AM
#1816
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27 August 2010, 09:29 AM
#1818
Yea guess so...
But where ya live is where you live i guess,and he just bought properties in the local area..
I dare say that good rental area's that may be closest would be Manchester or Sheffield,both around 15 miles away. I wouldnt like to own any rental properties in either
But where ya live is where you live i guess,and he just bought properties in the local area..
I dare say that good rental area's that may be closest would be Manchester or Sheffield,both around 15 miles away. I wouldnt like to own any rental properties in either
27 August 2010, 09:32 AM
#1819
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Yea guess so...
But where ya live is where you live i guess,and he just bought properties in the local area..
I dare say that good rental area's that may be closest would be Manchester or Sheffield,both around 15 miles away. I wouldnt like to own any rental properties in either
But where ya live is where you live i guess,and he just bought properties in the local area..
I dare say that good rental area's that may be closest would be Manchester or Sheffield,both around 15 miles away. I wouldnt like to own any rental properties in either
You shouldn't buy investment properties with a view to living there yourself, but what it can do for you.
15 miles is nothing, one of mine is 85 miles from my house, (long story)
27 August 2010, 01:57 PM
#1820
Scooby Regular
Why is it 90% of your posts seem to be on this one topic, actually, this one thread?
https://www.scoobynet.com/search.php?searchid=3502857
27 August 2010, 03:52 PM
#1822
Scooby Regular
What's being constructed? Factories to increase productive capacity, or shops and offices to provide goods and services to the consumer? Or perhaps just houses... another consumer good at the end of the day. The problem with GDP is that if you sell me £1 million worth of fresh air, it's counted as economic growth, but nothing has grown in the process.
Last edited by GlesgaKiss; 27 August 2010 at 03:54 PM.
27 August 2010, 04:18 PM
#1824
Why is it 90% of your posts seem to be on this one topic, actually, this one thread?
https://www.scoobynet.com/search.php?searchid=3502857
https://www.scoobynet.com/search.php?searchid=3502857
Lol.I knew someone would notice !!!!
I guess I have an opinion on the subject and a personal interest in it .I also cant be ar5ed these days to post on the other tittle tattle ,so there you go .Well spotted .!!!
27 August 2010, 04:21 PM
#1825
Hmm...
Guess it depends who you talk too....
My friend has had 4 properties on buy to let mortgages. All terraced and getting £400-£450 PCM..
He has built them up since about 7yrs ago but is now trying to sell them all. His main problem is getting any steady long term tennents in them.. It seems to be a 6 month rented,then 6 months empty scenario..
Previously he has done well out of them,but the downturn seemed to be around 3 yrs ago,and he has had enough.
Guess it depends who you talk too....
My friend has had 4 properties on buy to let mortgages. All terraced and getting £400-£450 PCM..
He has built them up since about 7yrs ago but is now trying to sell them all. His main problem is getting any steady long term tennents in them.. It seems to be a 6 month rented,then 6 months empty scenario..
Previously he has done well out of them,but the downturn seemed to be around 3 yrs ago,and he has had enough.
Reason enough ,im sure you will agree .
27 August 2010, 06:42 PM
#1828
What's being constructed? Factories to increase productive capacity, or shops and offices to provide goods and services to the consumer? Or perhaps just houses... another consumer good at the end of the day. The problem with GDP is that if you sell me £1 million worth of fresh air, it's counted as economic growth, but nothing has grown in the process.
Factories, shops and offices are still there just not enough jobs to keep them in full work
Even if it is houses I think they need to build something like 5million houses to cope for the population over the next 20 years?
27 August 2010, 06:44 PM
#1829
Soz ,no(to Cookstar) ,i am sure I heard it on the Tonight(ITV) programme last night ,but i came in half way through the programme .
Maybe someone else can confirm it ,if they saw the programme .
Maybe someone else can confirm it ,if they saw the programme .
Last edited by njkmrs; 27 August 2010 at 06:47 PM.
27 August 2010, 06:51 PM
#1830
Scooby Regular
or at least a discussion regarding a report on the private rental sector - explaining why the yields are increasing in BTL